The UK Prudential Regulation Authority (PRA) has issued final policy statement PS10/25, setting out the annual fees for the 2025/26 financial year, following the consultation in April (CP8/25). The final policy introduces only minor amendments to the draft proposals set out in the consultation. Overall, the total levies and fees have increased by 3% year-on-year. Within this, the Bank of England (BoE) levy has risen by 4%, the PRA levy has decreased by 1% and other levies and fees have increased by 4%. The PRA's Total Funding Requirement for 2025/26 is set at GBP350.2 million, representing a 0.8% decrease compared to the previous year. The Annual Funding Requirement for 2025/26 stands at GBP336.4m, representing a GBP5.1m increase from the 2024/25 figure of GBP331.3m. It is also GBP7.7m higher than the amount proposed in the consultation. This is primarily due to a larger allocation of the BoE's investment portfolio and central support costs to the PRA, partially offset by a reduction in the pensions provision. The policy also confirms the introduction of a Future Banking Data Fee, supporting the PRA's role in the BoE's programme to modernise regulatory data collection. The updated PRA Rulebook, incorporating the PRA Rulebook: PRA Fees Amendment Instrument 2025, entered into force on 2 July.
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