All fee-paying institutions that are part of a supervised group nominate a single entity to act as the fee debtor on behalf of the whole group. This is done by sending the ECB a signed notification by post or email. The closing date for submitting a new fee debtor nomination is 30 September each year in order to ensure a smooth feeing process.
The annual deadline for updating fee debtor details is 30 September. Fee debtors who have previously provided their contact details are only obliged to provide an update if there are changes. Please read the data protection statement.
Please only provide contact details via the ECB’s online portal. ECB staff members do not have access to the accounts of individual banks in the portal, so they are unable to do this on a bank’s behalf. The ECB recommends that an email address be provided that relates to a department or group rather than to an individual staff member in order to ensure that internal staff changes do not affect the ECB’s communication with fee debtors.
If you have not yet received your user ID and password or wish to change the name of the fee debtor, please contact the fees team, preferably by email at SSMfirstname.lastname@example.org.
Yes, fee debtors are obliged to communicate any changes to their contact details to the ECB by 30 September of each fee period.
If the changes in your group structure affect the head of the group or the subsidiary which was the previously nominated fee debtor, you should notify the ECB by submitting a new fee debtor notification form. Other changes within the group do not require a new fee debtor notification form.
Fee debtors have to submit their form by 30 September of each year in order to ensure a smooth feeing process.
A change in your situation may have an impact on the calculation of the annual supervisory fee. Please notify the fees team via email about any changes in your bank’s situation. They will get back to you with information on how to proceed in your particular case.
A newly authorised bank that is located in a country participating in European banking supervision and does not form part of an existing supervised group must pay the annual supervisory fee. The amount is calculated on the basis of the number of full months for which the bank has been supervised in the fee period.
Please provide the ECB with the contact details of the person or, preferably, the department responsible – in particular their email address – and the ECB will inform you about the next steps.
If your bank was a stand-alone, less significant institution prior to the acquisition by a significant supervised group, there could be an impact on your supervisory fee. In general, following an acquisition, the annual supervisory fee will be calculated on the basis of the number of full months for which the supervised entity was a stand-alone less significant institution (Article 7(1) of the ECB Regulation on supervisory fees).
The fee calculation is performed at the highest level of consolidation within countries participating in European banking supervision. Therefore, when credit institutions are part of a supervised group established in countries participating in European banking supervision, a single fee is calculated and levied at group level.
Please notify the fees team via email about any changes in your bank’s situation. They will assess your case and get back to you with information on how to proceed in your particular case.
The ECB is responsible for the effective and consistent functioning of the Single Supervisory Mechanism in its entirety, i.e. for both the significant banks that it directly supervises and the less significant banks that it indirectly supervises. All supervised banks are therefore obliged to pay a supervisory fee.
The annual supervisory fee is calculated at the highest level of consolidation for all banks supervised by the ECB based on fee factors as at the reference date of 31 December of the preceding fee period, or the applicable reference date as explained in the examples below.
Since the 2020 fee period, the ECB has reused FINREP and COREP data to determine the fee factors for the majority of supervised banks.
Two categories of banks must still provide their fee factors via a separate collection process: (i) groups that exclude assets and/or risk exposure amounts of subsidiaries in non-participating Member States; and (ii) branches established in countries participating in European banking supervision by credit institutions from non-participating Member States which are not subject to the ECB’s FINREP Regulation.
Fee debtors who still have to provide fee factors should submit the information on the fee factors to national competent authorities using the templates contained in the annexes to the ECB Decision on fee factors.
The fee factors should be submitted by close of business on 11 November of the current year, or the next business day if 11 November is not a business day, with a reference date of 31 December of the preceding year or as applicable, please see example below. The fee notices will be issued in the first six months of the year following the fee period.
The fee factors should be submitted to your national competent authority using the templates in the annexes to the ECB Decision on fee factors. These templates should be completed in accordance with the instructions provided, which also includes information on audit certification and management sign-off and when these are required.
The fee factors should be resubmitted to your national competent authority using the templates in the annexes to the ECB Decision on fee factors. The national competent authority responsible will then forward these data to the ECB, which in turn will publish the updated fee factors on your online portal account. This is only possible during the 15-day fee factor commentary period for the current feeing period.
No. Although the Regulation on supervisory fees does provide the option to exclude assets of subsidiaries located in non-participating Member States and countries outside the EU, this option is there for the benefit of the supervised groups affected as it lowers the annual supervisory fees that they would otherwise have to pay. However, if the burden of calculation is greater than the expected reduction in annual supervisory fees, it is more efficient for the supervised group to include such assets.
In order to ensure a smooth collection process, it is necessary to establish which groups with subsidiaries established in non-participating Member States or third countries intend to exclude the related assets and/or risk exposure amounts from their fee factors. Groups wishing to exclude assets and/or risk exposure should inform the ECB by 30 September of the fee period via the ECB’s online portal.
No. Annual supervisory fees are only levied on branches established in a country participating in European banking supervision by a parent bank established in a non-participating Member State. For example, an EU branch in a country participating in European banking supervision (e.g. Germany) will have to pay the supervisory fee to the ECB if its parent bank is established in a non-participating Member State. The parent bank may be subject to supervision by the relevant national competent authority (e.g. in Sweden), and may consequently be charged by that authority. This requirement is independent of the requirement for the EU branch to pay a supervisory fee to the ECB.
In this context, please bear in mind the following:
Supervised groups operating in one or more country participating in European banking supervision must submit only one return, using the highest level of consolidation across those countries participating in European banking supervision. One single supervisory fee will be calculated.
If a fee debtor that still has to provide fee factors fails to provide the fee factors, the ECB will determine the missing fee factors itself using either FINREP and/or COREP data available at the ECB, or on the basis of available information. Not providing fee factors is considered a breach of the ECB Regulation on supervisory fees and may trigger sanctions.
If you submitted separate fee factors templates via your national competent authority, you can resubmit the fee factors data using the same format and submission channel during the 15-day commenting period. If the ECB determined your fee factors on the basis of FINREP and/or COREP data and the values of total assets/total risk exposure available in the online portal are outdated, you can resubmit your FINREP and COREP reports during the 15-day commenting period via your national competent authority. It should be noted that FINREP and COREP data may change after the 15-day commenting period. However, for feeing purposes, once data have been used for the calculation of the supervisory fee for the fee period, future amendments will not be taken into account and no recalculations of supervisory fees will take place.
The ECB Decision on fee factors sets out the methodology and procedures for calculating the two fee factors, i.e. total assets and total risk exposure.
Yes. Branches that are established in countries participating in European banking supervision by credit institutions established in non-participating Member States, are supervised by the ECB (indirectly in the case of less significant institutions) and are liable for supervisory fees. Depending on their significance, the direct supervision of these branches is conducted either by the ECB, or by the national competent authority. Thus, unless they are subject to the ECB’s FINREP Regulation, they are obliged to report fee factors to the ECB, which will be used to determine their annual supervisory fee.
No, you do not have to submit fee factors with a reference date of 31 December 2020. However, fee debtors established after 1 January 2021 that fall into one of the two categories required to submit fee factors are required to submit the fee factors to their national competent authority as at the reference date closest to 31 December of the preceding year in order to allow the annual supervisory fees to be calculated. For an entity established on 1 January 2021, the reference date closest to 31 December 2020 would be 31 March 2021. For an entity established on or after 1 April 2021, the reference date closest to 31 December 2020 would be 30 June 2021.The same methodology for establishing the reference dates will also be used by the ECB to determine the fee factors for entities established on or after 1 January 2021 that report COREP and FINREP data for prudential purposes.
Yes. In accordance with Article 7 of the Regulation on supervisory fees, where a supervised entity is supervised for only part of the fee period, the annual supervisory fee will be calculated by reference to the number of full months of the fee period for which the supervised entity is supervised. As a supervised entity within the 2021 fee period, the fee-paying branch is still obliged to submit fee factors with a reference date of 31 December 2020 in compliance with Article 10(4) of the Regulation on supervisory fees to facilitate the calculation of the supervisory fee payable. A supervisory fee will be determined for the period from January to March 2021.
In accordance with Article 10(3)(bb) of the Regulation on supervisory fees, when a supervised entity prepares annual accounts, including consolidated annual accounts, based on an accounting year which deviates from the calendar year, the reference date for the total assets shall be the accounting year-end corresponding to the preceding fee period. For an entity that was established before 1 January 2021 and has an accounting year-end on 31 March, the reference date for the total assets fee factor shall be 31 March 2020.
Not necessarily. For branches falling under the scope of the ECB’s FINREP Regulation, the ECB will determine their fee factors on the basis of the total assets reported for prudential purposes. For branches that are obliged to submit fee factors templates, the total assets should correspond to the amount of total assets stipulated in Article 2(12)(b) of the ECB Regulation on supervisory fees. Therefore, a branch of a credit institution which is established in a non-participating Member State should submit to the ECB total assets calculated on the basis of the total value of assets as determined on the basis of the most recent audited annual accounts prepared in accordance with International Financial Reporting Standards (IFRS) as applicable within the Union in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council and, if those annual accounts are not available, the annual accounts prepared in accordance with applicable national accounting laws. For fee-paying branches that do not prepare annual accounts, total assets means the total value of assets as determined in accordance with Article 51(5) of Regulation (EU) No 468/2014 (ECB/2014/17), i.e. statistical data. Branches that report the total value of assets for prudential purposes on a voluntary basis can use this value for determining the total assets fee factor. However, the ECB does not reuse the voluntarily submitted data for the purpose of determining the fee factors and it will still be necessary to submit the fee factors template.
Not necessarily. In lieu of auditor verification as a means of certification of the total assets of the branch, the manager of the branch or, if the manager is unavailable, the management body of the credit institution establishing the fee-paying branch shall certify the fee-paying branch’s total assets by means of a management letter submitted to the relevant national competent authority. A template for the management letter is attached.
This exception applies only for fee-paying branches and does not apply to fee debtors who are required to provide auditor verification of their financial statements in line with Article 3.2(b) of the ECB Decision on fee factors.
The ECB issues fee notices electronically via the ECB’s online portal to the fee debtors. The expected date of issuance is in the second quarter of the following fee period. For the 2021 fee period this is in the second quarter of 2022. An automatic email notification about the uploading of the related correspondence (fee notice, reminder or interest letter) will be sent to the preferred (main) email address you provided via the ECB’s online portal.
For fee debtors who are part of European banking supervision on the basis of close cooperation a fee notice will be issued by the relevant national competent authority.
If you have not received the fee notice by the end of this period, please contact the fees team by email.
The payment details are always stated on the second page of the respective document. If you require additional confirmation of the payment details, please contact the fees team via email.
The supervisory fee is considered a public charge under Article 13 of the VAT Directive (2006/112/EC), and is consequently VAT exempt. The ECB, as an EU institution, is not required to register for VAT or corporate income tax purposes and therefore does not have any tax identification number.
The national supervisors play an important role in banking supervision within the Single Supervisory Mechanism.
However, their supervisory costs are not taken into account in the calculation of the supervisory fee paid to the ECB. This means that the national competent authorities maintain their right to levy fees in accordance with national law. Any questions related to the national competent authority fee should be directed to your national competent authority contact point directly.
The ECB is only responsible for the Single Supervisory Mechanism (not the Single Resolution Mechanism). The ECB and the Single Resolution Board (SRB) are independent institutions. Any questions related to SRB invoicing should be directed to your SRB contact point or to the national resolution authorities directly.
Yes. In fact the ECB’s recommended payment method is SEPA direct debit. Direct debit ensures that the fee is paid on time and, therefore, avoids possible interest charges for late payments. If you opt for this payment method, you can enter your bank details via the online portal and print out a direct debit mandate. Please sign and send the original to the ECB’s address indicated on the mandate or scanned to SSMemail@example.com.
You can pay by bank transfer up to 14 days before the due date, although it is not required. Once we start preparing the direct debit run, you will receive notification from us specifying the exact date on which you should stop making transfers. Please adhere to this deadline to avoid duplicate payments.
If there is a potential factual error in the fee notice, or for any other general queries, please contact the fees team.
This is without prejudice to the fee debtor’s right to submit an appeal against the fee notice to the Administrative Board of Review. All appeals must be submitted within one month of receipt of the fee notice.
The decisions taken by the ECB in the exercise of its supervisory tasks can also be challenged before the Court of Justice of the EU.
Fees are due within 35 days of the date of issuance of the fee notice.
In the case of partial payment or non-payment of the fees, the ECB is entitled to charge interest on a daily basis on the unpaid amount of the supervisory fee.
Interest is accrued at an annual rate equal to the ECB’s main refinancing rate plus 8 percentage points from the date on which the payment was due until the date preceding the date on which the unpaid amount is credited to the ECB’s bank account.
You can reset your password by clicking on “Request new password” and entering your username and the already registered email address (this is the email address designated as the preferred email address for communication with your bank and the one to which the ECB sends notifications). Please send an email to SSMfirstname.lastname@example.org if you continue to encounter problems.
The online portal is only compatible with the following internet browsers: Google Chrome (latest version), Microsoft Edge (latest version), Mozilla Firefox (latest version). We also recommend you delete cookies from your browser.
If you continue to encounter technical problems despite complying with the above, please contact us by email.
Please send an email to the fees team containing a screenshot of the error and/or the relevant IBAN. The fees team will add the bank code to the ECB’s system and then ask you to re-enter the IBAN via the online portal.
No, fee notifications are only sent to the email address you selected as your “preferred” address. Please check the online portal and, if necessary, change your preferences. If you have not received a fee notification, please contact the fees team by email. The ECB recommends that you provide an email address that relates to a department or group rather than to an individual staff member in order to ensure that internal staff changes do not affect our communication with you.
The ECB’s online portal default language is always set to English. However, during logon users can choose their preferred official EU language from the languages of countries participating in European banking supervision.
In addition, fee debtors can also choose the language in which they receive the fee notice and related correspondence. After logging into the online portal, users may access the manual to find instructions on how to set the correspondence language.
Furthermore, the SEPA core direct debit form is published in all euro area languages on the ECB’s banking supervision website.
If you have any further queries, please contact the ECB’s fees team directly.