consultations and policy

PS26/8: FCA converts R2B2 data collection into standing annual return

PS26/8 formalises the Retail Banking Business Models (R2B2) data collection as a permanent annual regulatory return. The Supervision Manual (Amendment) Instrument 2026 came into force on 1 June 2026; the first submission is due by the end of November.

The FCA published PS26/8 on 29 May 2026, confirming that the previously ad hoc Retail Banking Business Models (R2B2) data collection will become a standing annual regulatory return. The Supervision Manual (Amendment) Instrument 2026 came into force on 1 June 2026.

Who is in scope

The return applies to banks and building societies that provide services to UK retail customers, report at least 200,000 UK customer relationships, and have revenues of GBP 5 million or more. Firms outside those thresholds are not affected.

What firms must submit

The return has two elements: a core financial data request covering key product segments (mortgages, personal banking and lending, and business banking), wholesale funding, and firm-level financial metrics; and an off-the-shelf document request for readily available business documents such as business plans and management reporting. Submission is via RegData, the FCA's data collection platform.

Timing

Firms must submit annually in line with their accounting periods. The first submission is due by the end of November 2026. The precise date within November will depend on each firm's accounting period.

Why the FCA acted

The FCA had collected R2B2 data on an ad hoc basis on four occasions, a frequency it acknowledged made it difficult for firms to plan, allocate resources, and automate reporting processes. Infrequent collection also made it harder for the FCA to maintain a current picture of the retail banking market. The FCA uses R2B2 data to understand how business models evolve, analyse product segment contributions, and monitor competitive dynamics.

Changes following consultation

The FCA states the changes are part of broader efforts to streamline data collection and reduce unnecessary burden, and that the number of datapoints has been reduced and technological issues resolved. Targeted amendments were also made to streamline requirements and clarify definitions and group reporting rules.

Ongoing oversight

The FCA will review the data annually to ensure quality and will conduct a fuller review of the collection after five years.

Action required

In-scope banks and building societies should confirm their threshold status, identify the responsible team for submission, and begin planning around the November deadline. The return is available on RegData from 1 June 2026.

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