This report does not constitute a rating action. LONDON (S&P Global Ratings) March 31, 2026--S&P Global Ratings today said that rated U.K. banks remain adequately provisioned following the Financial Conduct Authority?s (FCA) publication of its final customer redress scheme for historic motor finance commission arrangements. The final rules pare back some of the proposals in the FCA?s October 2025 consultation, including the scope of affected agreements and the methodology for calculating compensation. The FCA now estimates that 12.1 million agreements are in scope, down from 14.2 million in the consultation, with aggregate redress payments and administrative costs of about £9.1 billion, compared with £11 billion previously, although a higher average payout per agreement is now expected due to the exclusion
