The revised supervisory fee framework of the European Central Bank (ECB) will be applied from the 2020 fee period. In connection with the revision, the ECB Regulation on supervisory fees (1163/2014) was amended (2019/2155) and the Decision on the information to be used for the calculation of ECB supervisory fees was updated (2019/2158). The changes include a move to ex-post invoicing, which means that credit institutions will now be invoiced on the basis of actual costs incurred by the supervisor rather than estimated costs. In the future, the ECB will collect the fees for a fee period in the second quarter of the following year. Fees for the 2020 fee period will therefore be collected in the second quarter of 2021 and no fees will be collected during 2020.
The ECB will also reuse existing supervisory data to calculate fees, removing the need for a separate data collection process for most credit institutions. However, credit institutions wishing to exercise the option to exclude their non-SSM subsidiaries fully or partly from the determination of supervisory fee factors must notify the ECB of this by the end of September of each supervisory fee period and provide within the framework of the Q3 reporting schedule the information specified by the Decision on the data to be used in the calculation of the ECB’s supervisory fees.
The auditors’ statements previously submitted by branches from non-SSM countries operating in Finland that pay supervision fees will be replaced by certifications submitted by the management of the branches. In future, the management of the branches must certify in a standard letter sent to the Financial Supervisory Authority (FIN-FSA) the total assets declared by the branches.
Forms related to supervisory fee factors as well as the necessary statements and certifications shall be submitted to the FIN-FSA by the deadline for Q3 FINREP and COREP reporting of the supervisory fee period (e.g. in the current year 11 November 2020). When finalised, the forms and instructions required for notification will be available on the ECB’s supervisory fee website (the online service does not yet have updated forms for the 2020 fee period).
The ECB will provide credit institutions with more detailed information about the revised supervisory fee framework (ECB press release).
For further information, please contact:
• EKP_valvontamaksut(at)finanssivalvonta.fi
• SSM-fee-enquiries(at)ecb.europa.eu
