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ECB estimates banking supervision fees for 2016

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ECB estimates banking supervision fees for 2016

TheECB estimated thatthe total costs in relation to its tasks for prudential supervision of thebanking system for 2016 will amount to €404 million, equivalent to an increaseof 23.9% compared to the amount invoiced a year earlier.

Asidefrom actions targeting specific areas that require additional supervisoryattention, the ECB also increased its full-time banking supervision staff by160. The central bank also noted the increased costs associated with itsinvolvement in conducting the biennial stress test of the European BankingAuthority and with the targeted review of internal models.

Thesteady state of the ECB's total annual supervisory expenditures is expected toemerge in the medium term, the central bank said in an April 28 news release.