Europe’s biggest banks to face bills of up to €15m under ECB supervision

Harriet Green
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The ECB has today launched a public consultation on its draft supervisory fees (Source: Getty)

The largest banks in Europe will pay out up to €15m each to be supervised by the European Central Bank (ECB), the lender said today.

In a statement on the draft consultation published today, it said that it expects the costs incurred, in its new role as the bloc’s only banking supervisor, to amount to €260m in 2015.

From November, the ECB will supervise up to 130 institutions that have assets in excess of €30bn, making them “significant”. The move is part of the new single Supervisory Mechanism.

Smaller banks will stay under the remit of national authorities.

Of the €260m, staff costs would reach around 60 per cent, 10 per cent will go towards premise-related costs and 30 per cent on other operating expenditure like travel, consultancy and IT services.

The bank said the exact cost can only be confirmed next year, but “a preliminary analysis has shown that for 2015 the annual fee for a directly supervised bank may range from €150,000 to €15m.” Most will pay between €700,000 and €2m.