In this act Article 6 of 9
Article 6 — Annual fee for the validation of a pro forma model that was not already in use prior to 24 December 2024
Financial servicesLevel 2Delegated RegulationEMIRIn forceOfficial source
1.Each counterparty that applies for the validation of a pro forma model in accordance with Article 11(3), fourth subparagraph, of Regulation (EU) No 648/2012 that was not already in use prior to 24 December 2024, shall pay to the EBA a fee of:
where:
— n = the index denoting the counterparty applying for validation to use the pro forma model;
— Total number of counterparties = the number of counterparties applying to use new pro forma model by 31 July of the given year.
2.Where the six-month validation period specified in Article 11(12a), second subparagraph, of Regulation (EU) No 648/2012 ends in the year following the year in which the first application for initial validation of the new pro forma model was received (‘following year’), the EBA may choose to continue applying the formula set out in paragraph 1 for the calculation of the fees for that following year.
Where the EBA exercises the option in the first subparagraph, it shall use the number of counterparties using, or that have applied for validation to use, the pro forma model by 31 July of the following year as ‘Total number of counterparties’ in the formula laid down in paragraph 1.
3.The EBA may decide not to charge the fee referred to in paragraph 1 of this Article for the year where the first application for validation of the pro forma model is received, where it would not be operationally feasible to collect the fees in the manner set out in Article 7.
4.Where a counterparty uses several pro forma models, the fee calculated in accordance with paragraphs 1 and 2 of this Article for the pro forma model subject to initial validation shall be paid in addition to the fee calculated in accordance with Article 4 for all other pro forma models used by the counterparty.
5.By way of derogation from paragraph 1 of this Article, the EBA may, for the fee calculated in accordance with this Article, increase the EUR 500 000 in the formula laid down in that paragraph up to an amount that equals the total costs estimated in accordance with Article 2 for a pro forma model.