The Financial Services and Markets Act 2023 (FSMA 2023) introduced additional cost benefit analysis (CBA) accountability requirements (building on pre-existing ones in FSBRA 2013) on the PSR. Among these is the publication of a statement of policy on our use of CBAs. This draft statement of policy, which we are consulting on, builds on and replaces the draft CBA framework we published in February.
The draft statement describes our approach to CBA which we consider to be part of our robust consideration of economic evidence and an important component of delivering outcomes-focused policy. CBAs are an important tool that can help us consider the likely impacts of our proposed interventions.
We welcome your views on this consultation. If you would like to provide comments, please send these to us by 5pm on 3 November 2024.
You can email your comments to econframeworks@psr.org.uk or write to us at:
Economic Frameworks
Payment Systems Regulator
12 Endeavour Square
London E20 1JN