ECB Publishes Draft Consultation on Charging a Supervisory Fee

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On May 27, the European Central Bank (ECB) published a consultation paper and accompanying questions and answers on its website concerning its draft regulation on supervisory fees. Under the draft regulation, the ECB would charge an annual fee to supervised banks and supervised banking groups to recover its cost of supervising Euro Area banks under the Single Supervisory Mechanism (SSM). The SSM Regulation (Regulation 1024/2013) requires the ECB to charge such a fee.

The draft regulation sets out the framework for calculating the fee, apportioning it between supervised entities and collecting the fee. Comments on the draft regulation are invited and the consultation will close to comments on July 11, 2014. The ECB will hold a public hearing on the consultation on June 24, 2014, where comments can be submitted. Consultation PaperQ&AsPublic Hearing.

 

Topics:  Banks, European Central Bank, Fees, Proposed Regulation

Published In: Finance & Banking Updates, International Trade Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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