Art. 2 Method of calculation of the annual supervisory fee | Fees charged by the EBA | MiCA

This article builds directly on Article 1, which establishes the cost estimation framework, by translating that framework into concrete fee calculation methodologies for issuers of significant ARTs and significant EMTs.

The core logic differs between the two token types: for significant ARTs, each issuer's share of costs is proportional to the size of its reserve of assets relative to all significant ARTs; for significant EMTs, the share is proportional to the size of its issuance relative to all significant EMTs.

The article also handles data sourcing for these calculations, currency conversion to euro, and a pro-rata adjustment for the first year of supervision, including a complete exemption from fees where classification occurs in December.

Important points:

Issuers of significant ARTs pay a share of supervision costs based on their reserve of assets relative to all significant ART reserves, while issuers of significant EMTs pay based on their share of total EMT issuance size.
The EBA uses data from the latest available independent audit to determine reserve and issuance sizes, converting non-euro values using the European Central Bank's euro foreign exchange reference rate.
Your first-year supervisory fee is reduced by a time-based coefficient reflecting how much of the year remains under EBA supervision, with a full exemption if classification occurs in December.

1. The annual supervisory fee for a given issuer of significant ARTs shall be calculated as follows:
  1. expenditure relating to the supervision of issuers of significant ARTs and EMTs under Regulation (EU) 2023/1114 as included in the EBA’s budget for that year;
  2. the costs referred to in point (a) assigned to issuers of significant ARTs shall be divided amongst all issuers of significant ARTs as follows:
    $% of costs related to significant ART supervision paid byissuer = \frac{Reserve of significant ART}{Reserves of all significant ARTs}$
  3. if applicable, expenditure that is directly assigned to individual issuers of significant ARTs will be added to the annual supervisory fee of those issuers of significant ARTs.
1. The annual supervisory fee for a given issuer of significant EMTs shall be calculated as follows:
  1. staff related and administrative expenditures, costs related to supervisory tasks carried out by competent authorities pursuant to Article 138 of Regulation (EU) 2023/1114, as well as costs related to IT development and maintenance for the EBA supervision assigned, respectively, to issuers of significant ARTs and issuers of significant EMTs;
  2. the costs referred to in point (a) assigned to issuers of significant EMTs shall then be divided amongst all issuers of significant EMTs as follows:
    $% of costs related to significant EMT supervision paid byissuer = \frac{Size of issuance of significant EMT}{Size of issuance of all significant EMTs}$
  3. if applicable, expenditure that is directly assigned to individual issuers of significant EMTs will be added to the annual supervisory fee of those issuers of significant EMTs.
1. For the calculation of the size of the reserve of assets of issuers of significant ARTs, the EBA shall use data from the latest available independent audit of the reserve of assets as referred to in Article 36(9) of Regulation (EU) 2023/1114.
1. For the calculation of the size of the issuance of issuers of significant EMTs, the EBA shall use data from the latest available independent audit as referred to in Article 58 of Regulation (EU) 2023/1114.
1. If the reported reserve of assets for significant ARTs or the size of the issuance of significant EMTs are expressed in a currency other than the euro, the EBA shall convert them into an amount in euro using the average euro foreign exchange reference rate applicable to the period during which the values were recorded. For that purpose, the euro foreign exchange reference rate published by the European Central Bank shall be used.
1. By way of derogation from paragraphs 1, 2 and 3, the first-year fee shall be calculated with the following formula by lessening the supervisory fee referred to in paragraphs 1 and 2 with a factor that is equal to the days between the date of transfer of supervision takes effect and the end of the year divided by the total number of days in that year:
2. $Coefficient = \frac{Number of calendar days from the date of transfer of supervision until 31 December}{Number of calendar days in year (n)}$
3. The supervisory fee of the first year shall be paid after an issuer of significant ARTs or an issuer of significant EMTs has been classified by the EBA as significant, as referred to in Articles 43, 44, 56 or 57 of Regulation (EU) 2023/1114 and within 30 days from the date of issuance of the EBA’s relevant invoice.
4. By way of derogation from the first sub-paragraph, where an issuer of significant ARTs or an issuer of significant EMTs is classified as significant, as referred to in Articles 43, 44, 56 or 57 of Regulation (EU) 2023/1114 during the month of December, it shall not pay a supervisory fee for that calendar year.