The Financial Services Compensation Scheme (FSCS) has published issue 23 of its industry newsletter entitled Outlook.
In this issue of Outlook the FSCS has confirmed the 2010/11 annual levy for financial services firms of £148 million and the 2009/10 interim levy of £80 million for firms in the investment intermediation sub-class.
The FSCS will raise a separate levy on deposit taking firms for the 2009/10 interest repayments on the FSCS loans from bank failures during 2008, currently estimated at £376.3 million. The actual amount due will be confirmed in the summer.
The FSCS has decided not to issue the 2009/10 interim levy of £20 million on the general insurance intermediation sub-class that was proposed in its 2010/11 plan and budget.
View Outlook - issue 23, 29 March 2010