Criteria for spreading out in time ex ante contributions during the initial period
1. When assessing the phase of the business cycle and the impact that pro-cyclical contributions may have on the financial position of contributing institutions in accordance with Article 69(2) of Regulation (EU) No 806/2014, the Board shall take into consideration at least the following indicators:
(a)
the macroeconomic indicators set out in the Annex, to identify the phase of the business cycle;
(b)
the indicators set out in the Annex, to identify the financial position of the contributing institutions.
2. The indicators taken into consideration by the Board shall be determined in respect of all participating Member States jointly.
3. Any decision by the Board to spread contributions out in time shall be applied equally to all institutions contributing to the Fund.
4. In any given contribution period, the level of annual contributions may be relatively lower than the average of the annual contributions calculated in accordance with Articles 69(1) and 70(2) of Regulation EU No 806/2014 only where the Board verifies that based on conservative projections the target level can be reached at the end of the initial period.
Criteria for determining the number of years by which the initial period can be extended
1. When determining the number of years by which the initial period referred to in Article 69(1) of Regulation (EU) No 806/2014 can be extended in accordance with Article 69(3) of Regulation (EU) No 806/2014, the Board shall take into consideration at least the following criteria:
(a)
the minimum of the number of years required to reach the target level referred to in Article 69(1) of Regulation EU No 806/2014 subject to annual contributions not exceeding two times the average annual contributions over the initial period);
(b)
the phase of the business cycle and the impact that pro-cyclical contributions may have on the financial position of contributing institutions, as specified by the indicators referred to in Article 3(1);
(c)
any additional disbursements of the Fund expected by the Board, after consultation with the ESRB, in the subsequent four-year period.
2. The Board shall not, under any circumstances, extend the initial period for more than four years.
Criteria for establishing the annual contributions after the initial period
When calculating the contributions referred to in Article 69(4) of Regulation (EU) No 806/2014, the Board shall take into account the phase of the business cycle and the impact that pro-cyclical contributions may have on the financial position of contributing institutions, as specified by the indicators referred to in Article 3(1).
