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Application provision

33.1 This Chapter applies only to the FSCS.

33.1

03/07/2015

This Chapter applies only to the FSCS.

33.2

03/07/2015

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

03/07/2015

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

03/07/2015

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.

Additional Notes


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