Credit rating agencies will start paying fees for their supervision

02 April 2012

The Commission's Delegated Regulation that entered into force on 1 April enables the European Securities and Markets Authority (ESMA) – the European supervisor for credit rating agencies – to charge fees to CRAs in order to finance their supervision.

For the first time, a European Supervisory Authority will finance some of its activities from private sources rather than using the EU's budget or resources from Member States' competent authorities. The fees charged to CRAs shall fully cover the expenditure relating to their registration and supervision. This regulation determines the matters for which fees are due, the manner in which they are to be calculated, and the way in which they are to be paid. This fee-setting regime will ensure that ESMA's independence will be kept intact.

An amendment of the CRA Regulation (513/2011) which entered into force on 1 June 2011 entrusted ESMA with exclusive supervisory powers over CRAs registered in the EU (starting 1 July 2011) in order to centralise and simplify their registration and supervision at a European level.

Press release

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