The FSCS does not maintain a standing fund to meet claims when needed. Rather, the FSCS raises levies each year to enable it to meet its anticipated obligations in respect of compensation costs in the following 12 months and to meet management expenses in the current financial year. The FSCS can raise additional levies at any point during the year, as necessary, subject to limits on levies laid down in the rules of the scheme, which the FSA makes. Compensation costs and management expenses (other than general FSCS overheads) fall first on the firms in the same sub-scheme as the defaulting firm. In most cases, if compensation costs exceed the levy limit for the sub-scheme, levies may also be raised from levy payers in other sub-schemes up to the overall levy limit. Specific management expenses fall only on the firms in the same sub-scheme as the defaulting firm and all firms have to contribute to any levy for FSCS general overheads. Within an overall compensation costs levy limit of £4.03 billion, the levy limit on compensation costs for deposit takers in any one year is currently £1.84 billion. The FSCS normally takes over the customers' claims on a failed firm when it pays compensation and it can therefore use recoveries from a failed firm to reduce the levies it needs to raise. Deposit taking firms have benefited from the existence of FSCS coverage without having to pay substantial levies in recent years. Other than for on-going management costs of the Scheme, deposit takers have been levied only once since the FSCS was established, for £3.9 million in 2008-09.