2016 ex-ante contributions

KEY FACTS

 

Target level and amount collected

  • The 2016 target level is based on 1.05% of covered deposits (2015)
  • In 2016, the amount of ex-ante contributions collected by the SRF at the end of June is €6.4bn, which takes into account the 1/8 deduction of 2015 contributions
  • 88.8% of the contributions were provided by paid in contributions (€5.68bn) and 11.2% were provided as irrevocable payment commitments - IPC (€721 million euros).

 

Scope

  • In 2016, 3,762 institutions fall within the scope of the SRF
  • 52% have paid lump sum contributions (small institutions)
  • 26% are medium size institutions (total asset below €3bn).

 

Biggest contributors

  • 20% of institutions represent 96% of the total 2016 ex-ante contributions
  • The 20 largest banking groups contributed 62% of the total 2016 ex-ante contributions.

 

Risk adjustment factor in the Euro Area

Intervals for the risk adjustment factor

SRM risk adjustment factors: number of  banks in each interval

%

0,8

0,9

22

1%

0,9

1

140

8%

1

1,1

392

23%

1,1

1,2

569

33%

1,2

1,3

450

26%

1,3

1,4

119

7%

1,4

1,5

25

1%

 

 Tot

1717

100%

 

 

 

Mutualisation path

  • According to the Intergovernmental Agreement (IGA), in 2016, 40% of the amount collected in the SRF is mutualised.

 

Update on 2016 ex-ante contributions

 

After institutions were notified of the annual contributions due, a discrepancy was detected in the calculation of the risk factor relating to membership in an Institutional Protection Scheme (IPS). The discrepancy directly affected 497 institutions that are members of an IPS (3 out of 19 Member States). Due to the nature of the calculation mechanism, all other institutions that pay a risk based contribution were indirectly affected.

The impact was limited in the following way:

  • The average absolute impact per affected institution was 0.68% of their 2016 ex-ante contribution.

  • 80% of the affected institutions have an impact which fell in the range -1% to +1% of their 2016 ex-ante contribution.

  • The cumulative effect was that €22 million (out of €6.4 billion) have been misallocated.

  • Institutions that pay a lump sum contribution were not affected.