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Link(s):

FSCS Levy Calculation Notes 2023/24 Final Rates (fca.org.uk)

Context

The FCA has published a Calculation Notes document in relation to the 2023/24 FSCS levy rates.

Key points to note

Following its Policy Statement PS23/10 confirming the regulatory fees & levies for 2023/24, issued on 3^rd July and covered in last week’s Update, the FCA has set out how the FSCS levy is calculated.

• The FSCS levy is made up of two elements – the management expenses levy (to cover the costs of running the FSCS, comprising base costs and specific costs) and the compensation costs levy (which provides the funds to make compensation payments).
• The document includes some example fee calculations.

Next actions

None – for information and awareness.