Banking Division - Fees - 2013
Full details of the revised fees payable under the Banking Law (and other legislation administered by the Commission) appear in The Financial Services Commission (Fees) Regulations, 2012, but for ease of reference a summary is shown in the table below.
Sliding fees scale for licensed banks: The fees are chargeable from 01/01/13 and payable by 31/01/13. Fees are based on activity level defined as Total Banking Income plus Administered bank/ trust company fees income as reported on lines C.8 and C.14 of the BSL/2 nearest to each licence holder's most recent full financial year end.
Fees Due 2013
INCOME AT YEAR END
|Up to £4,999,999
|£5,000,000 to £9,999,999
|£10,000,000 to £19,999,999
BRANCHES OUTSIDE THE BAILIWICK
NEW BANKS APPLYING FOR A LICENCE
New Banks applying for a licence within the calendar year 2013 are required to pay an application fee of £37,440 and by the last day of the month in which the licence is granted, pay a further pro rata fee of £3,120 multiplied by the number of complete months between the licensing date and the end of that calendar year. Existing licensees establishing a branch outside the Bailiwick shall by the last day of the month in which the branch is established pay a fee of £1,071.25 multiplied by the number of complete months between the date of establishment and the end of the calendar year.