ECB publishes Regulation on supervisory fees
Regulation on supervisory fees sets out how the ECB recovers its expenditures for supervising the banking sector covered by the Single Supervisory Mechanism (SSM)
ECB to fully assume its supervisory tasks on 4 November 2014
The European Central Bank (ECB) has today published the ECB Regulation on supervisory fees. It was approved by the Governing Council following a public consultation which included a public hearing. The ECB will take over as supervisor of banks on 4 November 2014 as part of the Single Supervisory Mechanism (SSM). The regulation sets out the arrangements under which the ECB will levy an annual supervisory fee for the expenditures incurred in relation to its new role.
The regulation reflects comments received from interested parties during the public consultation. These responses, along with a feedback statement, and the ECB Regulation on supervisory fees have also been published on the ECB’s website.
Under the EU Regulation governing the SSM (SSM Regulation), the ECB is required to levy an annual supervisory fee on all supervised banks in order to recover its expenditures for supervision.
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