Fee chart for consumption-based supervision charges

The Central Bank of the Republic of San Marino hereby announces the adoption of a fee chart for the calculation of charges incurred by each supervised entity in relation to the supervisory activities requested during the current year. Such adoption has been carried out within the deadlines set out in Article 11, Paragraph 2 of Delegated Decree No. 50/2023 and under the provisions of Article 3-bis of Delegated Decree No. 117/2006 and subsequent amendments. The chart has been updated by resolution of the Governing Council on 06/11/2024 to reflect recent changes within the applicable regulatory framework.
The chart will come into effect starting from fiscal year 2024 and shall be applied to requests made by supervised entities starting from January 1, 2024. The total amount accrued over the year represents each supervised entity’s consumption-based contribution for the year, as outlined in the fee chart below.
As a result of the foregoing, the new calculation method for allocations can be summarised as follows:

OSC – OFF – OCF = RSC

OSC = Overall amount of supervision charges to be recovered.

OFF = Overall amount of fixed fees (FF) applicable to all supervised entities, including foreign authorised entities, according to Article 3 of D.D. no.117/2006.

OCF = Overall amount of consumption-based fees (CF) accrued during the year by requesting supervised entities according to Article 3 bis of D.D. no.117/2006, based on the current fee chart.

RSC = Residual amount of supervision charges to be allocated only among authorised San Marino entities according to Article 4 of D.D. no.117/2006, based on factors identified by CBSM in line with the Committee for Credit and Savings’ opinion. This amount equals the overall amount of variable fees (VF).

Starting from 2024, the annual fee for fee-paying entities will therefore be composed as follows:
a) authorised supervised entity: FF + CF + VF
b) other supervised entity: FF + CF
c) foreign authorised entity: ¼ FF 

* In the event that the unified subject of the request involves multiple activities among those listed, the highest fee relating the most significant activity will be applied. No aggregate of the respective fees will therefore be conducted.
** Requests for an extension of the deadlines set forth in the current regulations.
*** Any resubmission of supervision reports, whether initiated by the supervised entity or requested by CBSM (except for reports addressing database upload blocking errors), even if made by the original submission deadlines. Reports specified in Circular 2015-02 include: modifications to the amounts, for each individual registered with the Central Credit Register; cancellation of monthly risk report; status change, only for modification or cancellation; amendments to personal data to rectify inaccuracies. In any case, the amount of this consumption-based fee applied to each supervised entity on a cumulative annual basis shall not exceed the sum of 25,000 euros.

**** Any report submitted past the submission deadline, unless a prior exemption or extension has been obtained upon substantiated request. Reports mentioned in Circular 2015-02 include status change reports for loan losses submitted beyond 5 working days following the occurrence date.

***** The fee is applied for each register or list whose data, whether historical or current, is requested for formal certification.