Brussels, 30/10/2014 (Agence Europe) - On Thursday 30 October, the European Central Bank published the rules setting the annual charges to be paid by banks in the eurozone that are subject to the single surveillance mechanism (SRM) from 4 November onwards.
The ECB will levy an annual prudential surveillance fee to cover the costs of carrying out its new surveillance duties under Banking Union. The costs will be shared out among the 119 banks that will be directly supervised by the ECB and the other banks that will continue to be monitored at national level.
The level of the fee for each bank will depend fifty-fifty on the size of its assets base and its overall exposure to risk.
The published system includes a set fee of 10% of the annual fee. For large banks directly supervised by the ECB but with total assets of below €10 billion, the set fee shall be 5%.
The ECB says that it has taken into account the comments made by stakeholders in a public consultation, the results of which have been published on the bank's website. (MB)