How to understand the invoicing package? February 2018

Transcription

1 How to understand the invoicing package? February 2018

2 Introduction Documents incuded in the invoicing package: 1. Contribution Notice 2. Annex A: Debit Note - Debit note (and bank account confirmation statement) 3. Annex B: Cacuation detais - Summarising overview of the cacuation resuts - Detais of the cacuation Exampe iustrated in this presentation: Entity (A) that: Paid advanced instaments Changed status from Category A (SI) to Category B (LSI) mid-2016 Acquired an entity (B) end 2017 (acquisition of the type: A+B=A) 2

3 1. Contribution Notice Where can the key numbers be found in the Contribution Notice? On the first two pages of the Contribution Notice: The administrative contributions cacuated for the respective years; The outstanding settement that wi be setted in the subsequent financia year(s); The amount that needs to be paid by the entity in On the fourth page of the Contribution Notice: d. The tota instaments paid by the entity during the provisiona period (2015, 2016 and 2017). This amount wi be zero for a institutions for which the contributions were deferred under the provisiona system. d. 3 Note: The amounts shown in the Contribution Notice incude the contributions of a entities that were absorbed or acquired by the contribution debtor since November 2014.

4 2. Annex A: Debit note Key information in the debit note 2.971,51 The debit note contains the foowing key information: The payment s due date (issuance date of the Contribution Notice + 35 caendar days); The reference that needs to be quoted by the entity when making the payment; The amount that needs to be paid by the entity in

5 3. Annex B: Cacuation detais The amounts presented in this document have been rounded to two decimas Overview of cacuation The first part of Annex B, the overview of the cacuation incudes the foowing information: The names and LEI codes of a entities that were considered; d. Amounts mentioned in the Contribution Notice: The administrative contributions for the years 2015, 2016, 2017 and 2018; - The tota instaments paid (if appicabe); - The fina amount to be paid in 2018; - The outstanding settement postponed to the subsequent financia year(s) which is the difference between the tota amount that needs to be resetted and the amount that is resetted in [ ,83 ( 2.971, ,77) = 8.604,08 ] The tota amount that needs to be resetted, which is the difference between the sum of the contributions recacuated for the years 2015, 2016 and 2017 and what the entity paid as instaments during this period. A positive baance means the entity underpaid their contributions, a negative baance means that the entity overpaid their contributions during the provisiona period (2015, 2016 and 2017). [ , , , ,68 = ,83 ] d. Artice 10(7) of Commission Deegated Reguation (EU) No 2017/2361 states that settements that are higher than the contributions cacuated for 2018 shoud be postponed to the subsequent years. In this exampe, this «cap» appies as the tota amount that needs to be resetted ( ,83) exceeds the contribution for 2018 ( 1.485,75). Hence, the amount to be paid in 2018 equas two times the contribution cacuated for the year [ 2 x 1.485,75= 2.971,51 ] Note: Each institution invoiced receives one overview that incudes information about itsef as we as a the institutions it merged with or acquired, if any. 5 Note: In accordance with the obigation to baance the budget and the genera principes of sound financia management, the amounts to be raised and discounted during each financia year by the SRB for the Provisiona Period Settement are imited by the constraints of Artice 10(7). This resuts in the SRB being abe to reimburse in 2018 a maximum of c 80,53% of the tota amount that needs to be resetted to the entities that overpaid their contributions during the provisiona period (() is negative).

6 3. Annex B: Cacuation detais (Part 1) Cacuation detais In the first part of the cacuation detais: The date of issuance of the document, note that this date is the same for a the documents of the invoicing package. The name of the institution and its LEI code The eigibiity period - the period under which the institution is subject to administrative contributions In the second part of the cacuation detais: d. e. d. The contributions cacuated for the years 2015, 2016, 2017 and 2018 for the specific entity (Institution A in this case). e. The instaments paid in the years 2015, 2016 and 2017 (the provisiona period) as we as the sum of this instaments. 6 Note: The cacuation detais sheet is provided on an individua basis (as opposed to the cacuation overview), meaning that if an institution acquired another institutions it wi have two individua cacuation detais sheets. For the purpose of this exampe, institution A wi receive a cacuation detais sheet for itsef (as shown in this side) as we as a cacuation sheet for institution B.

7 3. Annex B: Cacuation detais (Part 2) Cacuation detais In the other sections of the document, the cacuation detais for each respective years (exampe for 2016): The tota amount of the administrative contributions (TAR) that is coected by the SRB in the respective year. This amount is divided into two categories: - Category A (SIs and other cross-border groups) covers 95% of the tota [ 0,95 * ,87 = ,33 ] - Category B (LSIs) covers the remaining 5% [ 0,05 * ,87 = ,54 ] The entity s fee factors which consist of: - Tota Assets (TA) [ ,00 ] - Tota Risk Exposure (TRE) [ ,00 ] 7

8 3. Annex B: Cacuation detais (Part 3) Cacuation detais d. Average annua number of contribution debtors Year 2016 Category A (N Cat A) [ TA < 10bn ] 133 [ 29 ] Category B (N Cat B) 2830 The number of months in which the entity was considered as Category A and B respectivey; d. The minimum fee component (MFC): January - June [Cat A]: (( ,87 * 0,95 * 0,10)/133) * (6/12) = ,67 Given the entity s TA < 10bn => ,67 / 2 = ,33 => Whie this is an estimation of the administrative contributions (using average annua numbers) the recacuated amounts sighty differ from the actua cacuated MFC ( 9.995,21). Juy - December [Cat B]: (( ,87 * 0,05 * 0,10)/2830) * (6/12) = 50,07 => Whie this is an estimation of the administrative contributions (using average annua numbers) the recacuated amounts sighty differ from the actua cacuated MFC ( 50,85). 8 Note: The cacuation of administrative contributions is performed on a monthy basis, the number of institutions in the different categories vary per month. Given the amounts pubished on the SRB website are annua averages, entities are ony abe to estimate their annua contributions but not fuy recacuate them.

9 3. Annex B: Cacuation detais (Part 4) Cacuation detais e. f. e. The variabe fee component (VFC): Average annua number of contribution debtors Category A (N Cat A) [ TA < 10bn ] January - June [Cat A]: ( ,87 * 0,95 (29 * ,67^ + (133-29) * ,34^) ) * (0,5*( ,00/ ,70) + 0,5*( ,00/ ,48)) * (6/12) = 2.018,65 Sum of fee factor vaues per month (EUR) => Whie this is an estimation of the administrative contributions (using average annua numbers) the recacuated amounts sighty differ from the actua cacuated VFC ( 2.014,45). Year [ 29 ] Category B (N Cat B) 2830 Category A TA TRE Category B TA TRE Year ,70* ,48* ,84* ,46* Juy - December [Cat B]: ( ( ,87 * 0,05 (2830 * 50,07^) ) * (0,5*( ,00/ ,84) + 0,5*( ,00/ ,46)) * (6/12) = 397,78 => Whie this is an estimation of the administrative contributions (using average annua numbers) the recacuated amounts sighty differ from the actua cacuated VFC ( 377,95). ^ Those amounts correspond to the MFCs for the respective categories as cacuated on the previous side. f. The administrative contribution for the respective year: Contribution Cat A (MFC Cat A + VFC Cat A) + Contribution Cat B (MFC Cat B + VFC Cat B) = ( , ,65) + ( 50, ,78) = ,83 => Whie this is an estimation of the administrative contributions, the recacuated amounts sighty differ from the actua cacuated (( 9.995, ,45) + ( 50, ,95) = ,46). 9 Note: The cacuation of administrative contributions is performed on a monthy basis, the number of institutions in the different categories vary per month. Whie the amounts pubished on the SRB website are annua averages, entities are ony abe to estimate their annua contributions but not fuy recacuate them. Note: The annua average number of institutions and sum of the fee factors for the years 2015, 2016, 2017 and 2018 can be found on the SRB website. * For the purpose of this exampe, the TA and TRE of some entities were modified. Hence, the sum of the fee factors do not correspond to the ones used for the actua cacuation as presented on the SRB website.