Ex-ante contributions

Raising of the contributions

Contributions are raised annually from institutions in scope in each of the 19 Member States within the Banking Union.

 

The SRB is responsible for the calculation of ex-ante contributions. The National Resolution Authorities (NRAs) are responsible for the collection of contributions and the transfer to the SRF.

 

By 31 January 2016, the NRAs had to transfer ex-ante contributions raised in 2015 under Directive 2014/59/EU (BRRD) to the SRF. By 30 June of every year, the NRAs will transfer ex-ante contributions raised under the SRM Regulation.

 

Where the available financial means of the SRF are not sufficient to cover the losses, costs or other expenses incurred by the use of the SRF in resolution actions, extraordinary ex-post contributions may be raised in addition.

 

Mutualisation of the contributions

During the eight year initial period, contributions raised by NRAs at national level and transferred to the SRF are allocated to national compartments corresponding to each participating Member State.

 

Where recourse to the SRF is required, the SRB may use the available means in the SRF pursuant to a system of gradual mutualisation as set out in detail in the Agreement on the Transfer and Mutualisation of Contributions to the Single Resolution Fund.

 

All national compartments will be merged and cease to exist at the end of the eight year initial period.

 

Calculation of the ex-ante contributions

The SRB is responsible for the calculation of ex-ante contributions. For this purpose, the SRB applies the methodology set out in the Commission Delegated Regulation (EU) No 2015/63 and the Council Implementing Regulation (EU) No 2015/81, which guarantees a level playing field among participating Member States.

 

As part of such methodology, the SRB has developed uniform data definitions, a uniform template and guidelines for all institutions.

 

The calculation of individual contributions largely derives from the target level of at least 1% of covered deposits to be reached by the end of the initial period and from the size and the risk of each individual institution.

 

In order to allow the SRB to calculate the individual contribution, institutions are required to provide necessary data within certain timeframes. Institutions therefore need to report data to the NRAs by 31 January of every year at the latest. Where an institution does not submit all the required data on time, the SRB may use estimates or its own assumptions in order to calculate the annual contribution of the institution. In certain cases, the SRB may assign the institution concerned to the highest risk adjusting multiplier.

 

Ex-ante contributions collected up to date

The following table reflects the Ex-ante contributions collected up to 29/09/2016. The SRF has already collected amounts related to 2015 and 2016 Ex-ante contributions cycles. According to the Intergovernmental Agreement on the transfer and mutualisation of contributions to the Single Resolution Fund (IGA), the Contracting Parties shall transfer the Ex-ante contributions corresponding to every year by 30 June of that year at the latest, therefore, the next transfer regarding Ex-ante contributions is expected in June 2017.