PRA is consulting on proposed changes to the Protection Part in the Rulebook, and on a new statement of policy in relation to the calculation of firm contributions to FSCS. This consultation proposes and sets out:

  • amendments to the rules governing the funding of FSCS in Chapters 34, 49 and 42 of the Depositor Protection Part that would require FSCS to adjust compensation cost levies for the degree of risk incurred by a Deposit Guarantee Scheme (DGS) member. These would take effect from the 2017 levy cycle;
  • amendments to rules in Chapter 36 of the Depositor Protection Part requiring FSCS to similarly risk-adjust legacy costs levies; and
  • a new statement of policy, specifying how PRA intends to calculate the degree of risk incurred by a DGS member.

Consultation closes on 3 June. (Source: PRA consults on risk-based levies for the FSCS deposits class)