The European Central Bank (ECB) has published its decision in which it announces that its total estimated costs for the tasks associated with the prudential supervision of the European banking system for 2016 will be €404 million.  This represents an increase of 23.9% on the amount invoiced in 2015.

Out of the €404 million total, 129 significant banks will pay 88.4% and 3,200 less significant banks will pay 11.6%.  The supervisory fee is set at the highest level of consolidation within Member States participating in the Single Supervisory Mechanism.

Individual fees for each bank will be determined according to the bank’s importance and risk profile, using annual fee factors supplied by all supervised banks with a reference date of 31 December of the preceding year.  Banks will receive their individual invoice notice in October 2016.