meta_id 3197134

On May 28, 2026, the Financial Conduct Authority (FCA) published Policy Statement PS26/8, finalising rules for an annual Retail Banking Business Models (R2B2) data reporting return that replaces ad hoc data collections. The return applies to banks and building societies that provided services to retail customers in the United Kingdom, were required to submit Annual Financial Crime Reports for their last three accounting reference periods, reported at least 200,000 United Kingdom customer relationships in all of them, and reported total revenue of £5 million or more at their last three accounting reference dates. The FCA estimates 36 firms will be in scope for 2026, covering approximately 97 percent of the market by United Kingdom customer relationships, with eight firms newly in scope. The R2B2 return comprises two elements: a core financial data request split into seven sections covering residential mortgages, personal banking, personal lending, small business banking, other business banking, wholesale funding, and whole business measures; and an off-the-shelf document request for readily available documents relating to United Kingdom customers, including product offerings, internal financial reporting, and business plans. The FCA reduced data points by 30 percent compared to the 2024 ad hoc request to reduce firm burden. The FCA received 14 consultation responses and made amendments in response, including removing reconciliation calculations between product-level data and profit and loss statements, streamlining the off-the-shelf document request to focus on business-level rather than product-level information, and clarifying group reporting requirements. The FCA estimates one-off implementation costs of approximately £18,625 per newly in-scope firm and considers benefits continue to outweigh associated costs. Firms must submit the R2B2 return by November 30, 2026, aligned with their internal accounting periods. The FCA will publish aggregated statistics and insights annually and review the collection after five years. Firms requiring support can contact retailbankingbusinessmodels@fca.org.uk. The made rules come into force on June 1, 2026.