Dáil Éireann Debate, Wednesday - 15 May 2013
110. Deputy Stephen S. Donnelly asked the Minister for Finance if he will provide a breakdown of funding levies paid by each regulated body to the Financial Regulator in 2010, 2011 and 2012; and if he will make a statement on the matter. [23119/13]
View answerI have to inform the Deputy that, for reasons of confidentiality, the Central Bank are unable to provide information on the levies payable by individual firms. For information, the gross annual funding requirement represents, for each industry category, the proportion (50% in most cases) of the budget for financial regulation activities attributable to that category. This is then adjusted for any under/over recovery of costs from that category in the previous year in order to arrive at the net annual funding requirement for the category in question. The attached table provides an analysis of changes in the amount of levies recouped from industry categories over each of the years 2010 to 2012.
There are number of exceptions to the 50/50 funding arrangement including covered credit institutions which fund 100% of the cost of their prudential regulation and 100% of the cost of the PCAR and PLAR reviews and Credit Unions whose levies are capped at 0.01% of their total assets as at 30 September in the previous year.
Net Annual Funding Requirements
|
- |
INDUSTRY CATEGORY |
2012 - nAFR - €000 |
2011 - nAFR - €000 |
2010 - nAFR - €000 |
|
A |
Credit Institutions |
€44,900 |
€53,364 |
€21,216 |
|
B |
Insurance |
€12,013 |
€9,741 |
€7,609 |
|
C |
Intermediaries |
€2,729 |
€2,629 |
€2,506 |
|
D |
Securities Firms |
€6,591 |
€5,175 |
€3,242 |
|
E |
Collective Investment Schemes and Service Providers |
€5,538 |
€4,883 |
€4,078 |
|
F |
Credit Unions |
€1,398 |
€1,442 |
€1,440 |
|
G |
Moneylenders |
€300 |
€352 |
€309 |
|
H |
Approved Professional Bodies |
€44 |
€44 |
€35 |
|
I |
Exchanges |
€206 |
€196 |
€150 |
|
J1 |
Bureaux de Change & Money Transmitters |
€79 |
€155 |
€136 |
|
K |
E-money Providers |
€0 |
€0 |
€0 |
|
L |
Default Assessment |
n/a |
n/a |
n/a |
|
M1 |
Retail Credit Firms & Home Reversion Firms |
€107 |
€146 |
€236 |
|
N |
Payment Institutions |
€985 |
€837 |
€684 |
|
€74,890 |
€78,964 |
€41,641 |
