A further £36 million of banking fines has been committed over the next 3 years to support Armed Forces and Emergency Services charities and other related good causes. This completes the LIBOR Charity Funding scheme, bringing the total of funding committed since 2012 to £773 million.
- Under the Financial Services Act 2012, the Financial Conduct Authority (FCA) returns all income from banking fines above its enforcement costs to the Exchequer.
- Since 2015, over £273 million has been committed to individual military charities and other good causes. This award of £36 million continues the provision of banking fines to Armed Forces and Emergency Services charities and other related good causes; those who demonstrate the very best of values, and takes the total committed since 2012 to £773 million.
- A 10-week public application process (June to August), generated over 370 applications requesting a total of £176m of support.
- Projects and charities supported include: Armed Forces personnel, their families and Veterans; and Emergency Service Personnel, their families and former personnel.
- All applications have been assessed independently through a rigorous process which has involved grant making experts, the Charities Commission, the Government New Grants Advice Panel and input from the Devolved Governments and Other Government Departments. Each application is considered on its individual merits and successful grants are subjected to appropriate terms and conditions, oversight and scrutiny to ensure that the funds are used as intended.
- The successful applicants will receive the funding from April 2018.
You can see the full list of grant commitment in the attachment below: