Industry Funding Levy Information for Retail Intermediaries and Debt Management Firms

Funding Category C – Intermediaries and Debt Management Companies

Following a consultation process (CP102 New Methodology to Calculate Funding Levies for Retail Intermediaries and the Feedback Statement) the 2017 levies payable by retail intermediaries and debt management companies will be based on a minimum flat rate levy and a variable levy based on the portion of income from fees and income from commissions that exceed a specified threshold. 

2017 Levy Calculation

The levy for retail intermediaries and debt management companies will be calculated according to the following formula:

Minimum Levy: €932 plus
Variable Levy calculated as follows:

(A-B) x C


A = total of firm's 'Income from Fees' and 'Income from Commissions' as reported in the firm's most recent On-Line Regulatory Return to the Bank;
B = threshold level of total 'Income from Fees' and 'Income from Commissions' of €300,000;
C = variable levy rate of 0.22%.

Income from Fees and Commissions

This represents the total of income from commissions (Line 17 of Section 2: Financial Information) and income from fees (Line 18 of Section 2: Financial Information) as submitted by the firm in its Online Regulatory Return for the 2016 financial year.  If a 2016 return has not been made the most recent previous report will be used. 

Intermediaries that have failed to submit their Online Regulatory Return in accordance with regulatory requirements shall be liable to a default levy amounting to €3,600.  This default levy will be cancelled, however, and replaced with a levy calculated in accordance with the entity's income following submission of its Online Regulatory Return.

You can check these details by logging on Online Reporting System and viewing the details of your latest return.

Levy Calculator

Below is an excel-based levy calculator which will permit you to check the calculation of your 2017 Industry Funding Levy - simply enter your income details as outlined above.

{{threshold= 300000}} {{surplusPercent = 0.22}} {{minimumLevy = 932}}
Click here to read more on the annual levying process.