Directive of 2026 on Setting and Payment of Fees relating to the Supervisory duties of the Central Bank regarding the Credit Servicers

E.E.Par.III(I) K.D.P. 141/2026
No. 6009, 20.3.2026
Number 141

THE LAW(S) ON CREDIT MANAGERS AND CREDIT PURCHASERS AND FOR RELATED MATTERS OF 2024 AND 2025 _______________

Directive pursuant to Article 30
122(I) of 2024
70(I) of 2025.

The Central Bank of Cyprus, exercising the powers granted to it pursuant to Article 30 of the Law(s) on Credit Managers and Credit Purchasers and for Related Matters of 2024 and 2025, issues this Directive.

PART I – TITLE, INTERPRETATION, SCOPE AND PURPOSE

Short title.

1. This Directive shall be known as the Directive on the Setting and Payment of Fees relating to the Supervision of the Central Bank regarding Credit Servicers of 2026.

Interpretation. 2.- (1) For the purposes of this Directive, unless the context otherwise requires—

“Supervisory Fees” means the supervisory fees determined and collected by the Central Bank relating to the performance of its duties pursuant to the Law, for which it issues directives on their setting and payment pursuant to Article 30 of the Law.

“Levy Year” means the calendar year for which the supervisory fees relating to the exercise of the Central Bank’s powers and authorities under the Law are recovered.

“Law” means the Law(s) on Credit Managers and Credit Purchasers and for Related Matters of 2024 and 2025, as amended or replaced from time to time.

(2) Terms included in this Directive and not interpreted otherwise have the meaning attributed to them by the Law.

Scope of Application.
3. This Directive applies to credit servicers.

Purpose. 4. The purpose of this Directive is the determination of the fees relating to the performance of the Central Bank’s supervisory duties regarding credit servicers and the manner of their payment to the Central Bank.

PART II – SUPERVISORY FEES ON CREDIT MANAGERS

Imposition of Supervisory Fees.
5. Supervisory fees are imposed by the Central Bank at any time during the calendar year following the respective Levy Year.

Costing of Performance of Duties.
6. The total amount of supervisory fees provided for in paragraph 5 is determined on the basis of the total direct and indirect costs of performing the Central Bank’s duties, which are calculated using a methodology approved by the Central Bank from time to time.

Method of Calculating Supervisory Fees.
7.- (1) Supervisory fees consist of:
(a) a fixed charge amount of three thousand euros (€3,000) for each Levy Year, and (b) a variable charge amount for each Levy Year, which shall be apportioned based on the proportion of the average quarterly level of the portfolio of credit facilities assigned to the specific credit servicer.

(2) Supervisory fees are determined and imposed in proportion to the time during which the credit servicer operated during the relevant Levy Year.

Procedure and Manner of Payment of Supervisory Fees.
8.- (1) The Central Bank notifies, by any means it deems necessary, the supervisory fees as calculated pursuant to paragraph 7, to the credit servicers, who are obliged to pay them to the Central Bank within thirty (30) days from the date of notification.

(2) The payment of supervisory fees is made in a manner determined by the Central Bank and at costs borne by the credit servicers.

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PART III – MISCELLANEOUS PROVISIONS

Commencement.
9. This Directive enters into force from the date of its publication in the Official Gazette of the Republic.

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