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Briefing

Banking Union – Single Supervisory Mechanism (SSM) – Regulation of the ECB on Supervisory Fees

Summary

As the first element in the Banking Union, the Single Supervisory Mechanism (SSM), centralising the supervision of significant credit institutions at the European Central Bank (ECB), will become operative on 4 November 2014. The SSM is established by Council Regulation (EU) 1024/2013 (SSMR). The SSMR requires the ECB to levy an annual supervisory fee on the credit institutions supervised by it. The supervisory fee is supposed to cover all costs incurred by the ECB in relation to its supervisory tasks conferred on it under the SSM.

The ECB adopted the Regulation on supervisory fees on 22 October 2014 (ECB/2014/41) and published it on its website on 30 October 2014. This Regulation addresses the arrangements for calculation of the annual supervisory fee and the procedure for collection of the fee.

Detailed information on the Regulation on Supervisory Fees is provided in the briefing. The briefing follows a series of briefings on the new legal regime established by the SSMR and the SSM Framework Regulation (SSMFR).

Please find the briefing here.

 

For more information please contact

Dr. Alexander Glos
T +49 69 27 30 85 05
E alexander.glos@freshfields.com

Dr. Janina Heinz
T +49 69 27 30 83 46
E janina.heinz@freshfields.com