Central Bank – 2020 Industry Funding Levy
Tue Nov 2 2021
The Central Bank have issued the 2020 Levy notices this week. The levy for intermediaries and debt management firms is calculated as follows:
Minimum Levy: €1,025 plus
Variable Levy calculated as follows:
(A-B) x C
A = total of firm’s ‘Income from Fees’ and ‘Income from Commissions’ as reported in the firm’s most recent On-Line Regulatory Return to the Central Bank;
B = threshold level of total ‘Income from Fees’ and ‘Income from Commissions’ of €200,000;
C = variable levy rate of 0.33%.
The Central Bank publishes on an annual basis, a Funding Strategy and guide to the 2021 Industry Funding Regulations which contains information regarding the levy process which is available here.