“Nevertheless, while the cost calculations provided by the template may give the impression that a single meaningful cost number can be provided (combining implicit and explicit costs), the Board is wary that the number could be an over-simplification and/or be taken out of context.
“In particular, the calculation and the use of implicit costs on a consistent basis can be challenging.”
The Board added that the matter of implicit cost combination with other figures was currently under consultation by the FCA and the results of its work could provide answers for the IA and interested stakeholders.
