Commission Delegated Regulation (EU) 2024/1706 of 11 March 2024 amending Delegated Regulation (EU) No 272/2012 as regards harmonisation of certain aspects of fees charged by the European Securities and Markets Authority to credit rating agencies

The fees charged to credit rating agencies shall cover: (a) all direct and indirect costs relating to the supervision of credit rating agencies by ESMA in accordance with Regulation (EC) No 1060/2009, including costs resulting from the registration and certification of credit rating agencies; (b) all costs for the reimbursement of direct and indirect costs of competent authorities to which ESMA has delegated tasks in accordance with Article 30 of Regulation (EC) No 1060/2009; (c) all costs for the reimbursement of direct and indirect costs of competent authorities that have provided assistance to ESMA in accordance with Article 23c(4) and Article 23d(5) of Regulation (EC) No 1060/2009.’;

1 For the purposes of calculating the fees referred to in Article 5, Article 7(1) and Article 11(1) and (2), the applicable turnover for a given financial year (n) shall be the revenues of a credit rating agency as published in its audited accounts of the year n–2 generated from rating activities and ancillary services.

2 Where the credit rating agency did not operate during the full year (n–2), the applicable revenue shall be estimated by extrapolating that amount for the whole financial year.

3 Credit rating agencies shall provide ESMA, on an annual basis, with audited accounts as referred to in paragraph 1. Those accounts shall distinguish between revenues generated from rating activities and ancillary services and shall be submitted to ESMA by electronic means by 30 September each year (n–1).

4 Where the revenues referred to in paragraph 1 are reported in another currency than euro, ESMA shall convert those revenues into euro using the average euro foreign exchange rate applicable to the period during which those revenues were recorded. For that purpose, ESMA shall use the euro foreign exchange reference rate published by the European Central Bank.’

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union. It shall apply from 1 January 2025.