31.10.2014 Official Journal of the European Union L 311/23 REGULATION (EU) No 1163/2014 OF THE EUROPEAN CENTRAL BANK of 22 October 2014 on supervisory fees (ECB/2014/41) THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK, Having regard to Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions ('), and in particular the second subparagraph of Article 4(3), Article 30 and the second subparagraph of Article 33(2) thereof, Having regard to the public consultation and to the analysis carried out in accordance with Article 30(2) of Regulation (EU) No 1024/2013, Whereas: (1) Regulation (EU) No 10242013 establishes a Single Supervisory Mechanism (SSM) composed of the European Central Bank (ECB) and national competent authorities (NCAs). (2)  Pursuant to Regulation (EU) No 1024/2013, the ECB is responsible for the effective and consistent functioning of the SSM for all credit institutions, financial holding companies and mixed financial holding companies in all euro area Member States as well as in non-euro area Member States which enter into close cooperation with the ECB. The rules and procedures governing the cooperation between the ECB and NCAs within the SSM and with national designated authorities are laid down in Regulation (EU) No 468/2014 of the European Central Bank (ECB/2014/17) (). (3)  Article 30 of Regulation (EU) No 1024/2013 provides for the levying of an annual supervisory fee by the ECB on credit institutions established in the participating Member States and on branches established in a participating Member State by a credit institution established in a non-participating Member State. The fees levied by the ECB should cover, and not exceed, expenditure incurred by the ECB in relation to the tasks conferred on it under Arti- cles 4 to 6 of Regulation (EU) No 1024/2013. (4)  The annual supervisory fee should comprise an amount to be paid annually by all credit institutions established in the participating Member States and branches established in a participating Member State by a credit institu- tion established in a non-participating Member State that are supervised within the SSM. (5)  Within the SSM, the supervisory responsibilities of the ECB and each NCA are allocated on the basis of the signif- icance of the supervised entities. (6)  The ECB has direct supervisory competence in respect of significant credit institutions, financial holding compa- nies, mixed financial holding companies established in participating Member States, and branches located in parti- cipating Member States of significant credit institutions established in non-participating Member States. (7) The ECB also oversees the functioning of the SSM, which includes all credit institutions, whether significant or less significant. The ECB is exclusively competent in relation to all credit institutions established in the partici- pating Member States to authorise entities to take up the business of a credit institution, to withdraw authorisa- tions and to assess acquisitions and disposals of qualifying holdings. (8)  The NCAs are responsible for the direct supervision of less significant supervised entities, without prejudice to the ECB’s power to exercise direct supervision in specific cases where this is necessary for the consistent applica- tion of high supervisory standards. When allocating the amount to be recovered via supervisory fees between the categories of significant supervised entities and less significant supervised entities, this sharing of supervisory responsibilities within the SSM and the related expenditure incurred by the ECB is taken into account. () OJL287,29.10.2013, p. 63. () Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014 establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities (SSM Framework Regulation) (ECB/2014/17) (OJ L 141, 14.5.2014, p. 1).