ECB launches public consultation on amendments to the supervisory fees framework

Economy

The European Central Bank (ECB) is today launching a public consultation on proposed changes to the ECB Regulation on supervisory fees. This consultation incorporates the feedback received during the first public consultation on this issue in 2017 and input from the national competent authorities. The current consultation ends on 6 June 2019.

The proposed amendments mainly concern the individual fees the ECB levies on the banks it supervises and the timing of their collection. Most importantly, the proposals will result in the ECB calculating the fees based on the supervisory costs actually incurred and levying them at the end of the feeing cycle. This makes the process more efficient in comparison with the current approach, under which the ECB estimates the fees and levies them throughout the year.

In addition, the amendments will result in the ECB reducing the minimum fee for around half of the indirectly supervised banks, specifically the smallest ones, significantly easing their financial burden. They will also simplify the fee calculation process and reduce the bureaucratic burden for the banks. Under the proposals, the ECB will reuse supervisory data already at its disposal to calculate the fees, simplify processes for some entities relating to the verification of assets, which ultimately determine the supervisory fees, and make the fee notices available in all official languages of the European Union.

 

Source: europa.eu

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