The Single Resolution Board (SRB) has calculated the amounts of ex-ante contributions for the year 2023. The total ex-ante contributions to be collected from all nearly 2,800 institutions in the euro area in scope of the contributions amount to approximately EUR 11.3 billion. After this year some EUR 77,6 billion has been collected into the fund. In accordance with the SRM Regulation, the target level of the SRF at the end of 2023 is at least 1% of the amount of covered deposits of credit institutions authorised in all participating Member States.
The Finnish Financial Stability Authority (FFSA) has submitted the SRB’s decisions on ex-ante contributions to the Finnish credit institutions and, by decisions made by it on 8 May, ordered the contributions payable by the end of May.
This year, the FFSA collects a total of EUR 252 million from Finnish institutions to the Single Resolution Fund (SRF). The contributions payable by Finnish institutions represent an average decline of 21 from the previous year. In 2022, the FFSA collected a total of approximately EUR 320 million in ex-ante contributions from the Finnish credit institutions.
The SRB will publish information on the ex-ante contributions for 2023 (based on decisions made on 2.5.2023) on its website. Among other things, the website contains a statistical part including information on the country specific data points used in the calculation of the ex-ante contributions.
Information on the ex-ante contributions for 2023 on SRB´s website
National ex-ante contributions from investment firms in 2023
In addition to the ex-ante contributions, the FFSA also collects national contributions to the national resolution fund of approximately EUR 677 000 from certain investment firms. The target level for the national resolution fund to be achieved by 2024 is approximately EUR 974 000. The target level is the relevant investment firms’ share of the common target level for investment firms and banks, which is 1% of covered deposits. Investment firms’ share is calculated by dividing the amount of their liabilities less own funds by the amount of investment firms’ and banks’ liabilities less own funds and covered deposits.
The target level increased due to the voluntary corporate transactions during 2022, which increased the relative size of the investment firm sector and the ex-ante contribution obligations.
More information: Bank Resolution Expert Kristiina Tuomikoski (vakausmaksut(at)rvv.fi)
Read more about the FFSA's current topics on the Authority’s website
