Art. 1 Estimation of the expenditures of the EBA when performing its supervisory duties | Fees charged by the EBA | MiCA

This is a foundational article that establishes the framework for how supervisory fees are determined and what they must cover.

It sets out the core principle that fees charged to issuers of significant ARTs and significant EMTs must achieve full-cost recovery, based on an activity-based management model developed by the EBA.

The article is notably detailed, as it enumerates the specific supervisory activities whose costs feed into the fee calculation — from the classification of tokens as significant, to the running of supervisory colleges — and also accounts for costs passed down from delegated competent authorities.

This article underpins the calculation methodology set out in Article 2.

Important points:

The EBA is required to estimate its total annual supervisory costs each year, and this estimate forms the basis for the overall fees charged.
Fees must cover both the EBA's own direct and indirect costs and the costs of any competent authorities to whom supervisory tasks have been delegated under Regulation (EU) 2023/1114.
As an issuer of significant ARTs or significant EMTs, be aware that fees are designed to recover the full cost of a wide range of supervisory activities, including token classification processes, ongoing supervision, and the functioning of supervisory colleges.

1. In each year, the EBA shall estimate the overall annual costs that are expected to be incurred for the performance of its supervisory duties. The amount of the annual overall costs estimated shall be the basis for determining the overall amount of supervisory fees charged.
1. The fees charged to issuers of significant asset referenced tokens (ARTs) and to issuers of significant e-money tokens (EMTs) shall be established in accordance with the principle of full-cost recovery and following an activity-based management model elaborated by the European Banking Authority (EBA).
1. When estimating the annual overall costs, the EBA shall take into account the following direct and indirect costs:
  1. the annual estimate of all direct and indirect expenditure necessary for the supervisory tasks performed by the EBA relating to issuers of significant ARTs and issuers of significant EMTs, including staff resources directly involved in the defined tasks and the costs of the horizontal services like operational and administrative support provided to the staff directly involved;
  2. the annual estimate of expenditure necessary for the reimbursement of direct and indirect costs incurred by competent authorities to whom the EBA has delegated supervisory tasks in accordance with Article 138(1) of Regulation (EU) 2023/1114 relating to issuers of significant ARTs and issuers of significant EMTs, including staff resources of the competent authorities directly involved in the delegated supervisory tasks and the costs of the horizontal services like operational and administrative support provided to the directly involved staff.
1. The fees charged to issuers of significant ARTs and issuers of significant EMTs shall cover the staff expenditure, infrastructure and operating expenditure as follows:
  1. the EBA’s expenditure for the execution of its supervisory tasks relating to issuers of significant ARTs and issuers of significant EMTs in accordance with Regulation (EU) 2023/1114 such as:
    the determination of ARTs and EMTs as significant as referred to in Articles 43 and 56 of Regulation (EU) 2023/1114, including costs incurred in relation to data gathering and analysis, and engagement with the issuer, competent authorities, central banks and other relevant authorities,
    the classification of ARTs and EMTs as significant based on voluntary basis as referred to in Articles 44 and 57 of Regulation (EU) 2023/1114, including all costs of a kind referred to in the classification process,
    the supervision referred to in Article 117 of Regulation (EU) 2023/1114, including the establishment and functioning of the EBA crypto-asset committee referred to in Article 118 of Regulation (EU) 2023/1114, and the exercise of any powers and competences referred to in Title VII, Chapter 5 of Regulation (EU) 2023/1114,
    the establishment and functioning of supervisory colleges as referred to in Article 119 of Regulation (EU) 2023/1114, including for significant EMTs issued by credit institutions;
  2. the reimbursement of competent authorities that have carried out work pursuant to Regulation (EU) 2023/1114 as a result of any delegation of tasks in accordance with Article 138 of Regulation (EU) 2023/1114.