Art. 8 Collection of fines and periodic penalty payments | Fines and penalties of the EBA | MiCA

This article deals with the financial handling of fines and periodic penalty payments collected by the EBA.

It sets out a clear sequence: funds are held in interest-bearing accounts while subject to appeal, then transferred to the Commission once finalised, and ultimately entered into the EU's general budget.

It also establishes a reporting obligation for the EBA toward the Commission.

Important points:

The EBA is required to hold collected fines and periodic penalty payments in interest-bearing accounts, kept separate from its own budget, until those penalties become final.
Once all appeal rights are exhausted, the EBA must transfer the collected amounts, including any accrued interest, to the Commission for entry into the general budget of the Union.
The EBA must report regularly to the Commission on the amounts of fines and periodic penalty payments imposed and their status.

1. The amounts of fines and periodic penalty payments collected by the EBA shall be lodged to an interest-bearing account opened by the EBA until they become final. In the case of multiple fines and periodic penalty payments collected by the EBA in parallel, the EBA shall ensure that they are lodged to different accounts or subaccounts. Fines and periodic penalty payments paid shall not be entered into the EBA’s budget or recorded as budgetary amounts.
1. Once the EBA has established that the fines or periodic penalty payments have become final following the exhaustion of all appeal rights, the EBA shall transfer those amounts and potential interest accruing to the Commission. Those amounts shall then be entered in the general budget of the Union.
1. The EBA shall report on a regular basis to the Commission on the amounts of fines and periodic penalty payments imposed and their status.