ECB to cut supervision fees for smaller lenders
Reuters
Published Dec 17, 2019 09:17AM ET
ECB to cut supervision fees for smaller lenders
FRANKFURT (Reuters) - The European Central Bank will cut supervision fees for smaller banks from next year, it said on Tuesday, after lenders complained that charges have become too high and place an excessive burden on earnings.
"Starting from the 2020 fee period, the ECB will reduce the minimum fee for smaller, less significant institutions," it said, adding that the change would apply to lenders with total assets of 1 billion euros or less.
The ECB will also collect fees only after the conclusion of a given year, on the basis of actual costs incurred by the supervisor rather than estimated costs, it added.
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Written By: Reuters
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