PSR is consulting on the allocation, calculation and collection of PSR fees for 2016/17. It also considers the anticipated 2015/16 underspend. PSR is proposing to split its £15.2 million Annual Funding Requirement for the year 2016/17 as follows:
- £13.7 million for functions under the Financial Services (Banking Reform) Act 2013 (FSBRA) and concurrent competition powers. This involves equal allocations of resources across Bacs, CHAPS, C&C/NICC, FPS, LINK, MasterCard and Visa; and
- £1.5 million for Interchange Fee Regulation (IFR) functions. This would involve a three-tier approach to the IFR allocation.
The consultation closes on 13 May. (Source: PSR consults further on regulatory fees)