Sunday November 23, 2014 Search
Weather | Athens
18o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
ECB to charge banks 15m in annual supervisory fees

The European Central Bank plans to charge lenders as much as 15 million a year in supervisory fees. The largest institutions will be hit with annual levies of this size, according to draft proposals from the central bank. Most of the approximately 130 lenders under its direct supervision will pay between 700,000 and 2 million. About 5,800 banks overseen indirectly will pay between 2,000 and 200,000, excluding national charges.

The Frankfurt-based ECB takes over as the regions bank supervisor in November as the first pillar in a banking union that aims to put the financial system on a sounder footing. The central bank estimates that the Single Supervisory Mechanism will spend about 260 million in 2015. If confidence comes back, in the end, everybody will benefit, Steven Keuning, director general of human resources, budget and organization at the ECB, told reporters on Tuesday.

Their funding becomes cheaper. It can even happen that the benefits surpass the costs.

The ECB will start charging the fees from November and until then will cover any costs itself. The charges identified in the draft regulation are an estimate and there will be no cap on the amount paid by individual banks. Fees will be based on the lenders risk exposure and total assets, with each accounting for 50 per cent of the calculation, according to the regulation. Supervised banks with several branches and subsidiaries in one or more euro-area country will be issued only one fee notice. The draft document is open for public consultation from today until July 11th.

The ECB will hold a public hearing in Frankfurt on June 24. Its never pleasant to be presented with a bill, but in this case you get something in return, Jan Sijbrand, the Dutch representative on the ECBs Supervisory Board, said in Amsterdam on Monday. When trust returns to the European banking sector, banks will immediately benefit from it. Then the spreads will come down, funding will get cheaper and the economy will stabilize. All banks know that. [Bloomberg]

ekathimerini.com , Tuesday May 27, 2014 (14:28)  
Fitch keeps Greek rating at B, outlook stable
More cash for banks with same papers
Growth to fuel rise in revenues
Commercial property draws interest from investors
Cyprus on agenda in Biden visit to Istanbul
The prospects for the resumption of stalled peace talks on Cyprus and the issue of energy security were among the matters discussed on Saturday by US Vice President Joe Biden and Turkish gov...
PASOK nixes Papandreou leadership challenge
The junior coalition partner PASOK rejected over the weekend a proposal by the partys former leader and ex-premier George Papandreou for the party to call an emergency congress and a subseq...
Inside News
INTERVIEW
Tokyo hopes to change the world
The 2020 Summer Olympic and Paralympic Games in Tokyo will serve as a springboard for the rebuilding of Japans image and economy following the triple blow of the earthquake, tsunami and nuc...
BASKETBALL
Big win for Greens, tight one for Reds
Panathinaikos scored a crucial as well as emphatic away win at Turow on Thursday that should see it qualify from its tough group to the top 16 of the Euroleague, while Olympiakos saw off vis...
Inside Sports
COMMENTARY
Is Europe paying attention?
Barack Obama brought hope to the entire world when he was elected president of the United States in 2009 and then again in 2012 for a second term. During his first visit to Europe, marked by...
EDITORIAL
A reasonable agreement
Greece cannot and should not allow itself to be left without a safety net to make up for any funding needs that may crop up after the end of the year. Without such protection it would be at ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Cyprus on agenda in Biden visit to Istanbul
2. PASOK nixes Papandreou leadership challenge
3. Troika tests govt nerves as budget rift persists
4. Climate change to hit farming, Greek coastline
5. Piraeus nightclub shooting leaves 3 seriously injured
6. London court to rule on extradition of former judge
more news
Today
This Week
1. Piraeus nightclub shooting leaves 3 seriously injured
2. PASOK nixes Papandreou leadership challenge
3. Climate change to hit farming, Greek coastline
4. Fitch keeps Greek rating at B, outlook stable
5. Cyprus on agenda in Biden visit to Istanbul
6. Troika tests govt nerves as budget rift persists
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Greece and Poland switch roles as young Greeks head to vibrant Eastern European country for better prospects
3. Anti-junta uprising anniversary to be marked amid tight security
4. Biden heads to Istanbul amid tension over Cyprus EEZ violation
5. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
6. Every age has its collaborators
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.