Prudential Regulation Authority Rulebook

33.1

This Chapter applies only to the FSCS.

33.2

The FSCS may, at any time, impose on DGS members a:

1. (1) DGS compensation costs levy;
2. (2) DGS management expenses levy; or
3. (3) legacy costs levy.

33.3

The maximum aggregate amount of DGS compensation costs, legacy costs and DGS specific costs for which the FSCS can levy class A in any one financial year of the deposit guarantee scheme is limited to £1,500,000,000 less whatever DAS compensation costs and DAS specific costs the FSCS has imposed on class J in the same year.

33.4

The maximum amount of DGS compensation costs for which the FSCS can levy DGS members per calendar year must not exceed 0.5% of total covered deposits (excluding temporary high balances) of all DGS members. The FSCS may in exceptional circumstances and with the prior consent of the PRA impose higher levies.

[Note: Art. 10(8) of the DGSD]