Statistical Notice 2026/01 - Bank of England Levy: Deadline for Eligible Liabilities Return form submission for the Levy Year 2026/27
Executive Summary
This Statistical Notice 2026/01 from the Bank of England specifies the submission deadline for the Eligible Liabilities Return form, which calculates firms' contributions to the Bank of England Levy for the 2026/27 levy year. It matters because non-compliance risks penalties, late fees, or enforcement actions under the Financial Services (Banking Reform) Act 2013, ensuring timely funding for the Bank's resolution and stability functions. Compliance teams must integrate this into levy reporting calendars to avoid operational disruptions. #
What Changed
The notice updates definitions and guidance in the Banking Statistics Yellow Folder, focusing on the deadline for submitting the Eligible Liabilities Return (ELR) form for the 2026/27 levy year. It does not introduce new substantive rules but reinforces procedural requirements for accurate levy base calculations, such as eligible liabilities as defined in section 15 of the Financial Services (Banking Reform) Act 2013. No specific changes to levy rates or methodologies are detailed, but it aligns with ongoing updates to banking statistics reporting. #
What You Need To Do
- Review and calculate eligible liabilities as of 31 December 2026 using BoE definitions from the Yellow Folder
- Submit completed ELR form electronically via BoE portal by the specified deadline (likely 31 January 2027)
- Retain audit trails, supporting data, and reconciliations for potential PRA/BoE queries
- Update internal systems and controls for levy calculation; notify compliance teams if data gaps exist
- Monitor BoE portal for form updates or extensions
Key Dates
Compliance Impact
Urgency: High – Missing the submission deadline triggers automatic late penalties (e.g., interest at Bank Rate + 5%) and potential supervisory referrals. This directly impacts prudential reporting obligations, with firms facing cash flow hits from levy payments (historically £200-300m total annually). Prioritize in Q4 2026 planning, as it coincides with year-end reporting under Basel 3.1 transitio
Who is Affected
Summary
Statistical Notices update the definitions and guidance contained in the Banking Statistics Yellow Folder