Recital 1

(1)Regulation (EU) No 1163/2014 of the European Central Bank (ECB/2014/41) ² lays down the arrangements for calculating the total amount of the annual supervisory fees to be levied in respect of supervised entities and supervised groups; the methodology and criteria for calculating the annual supervisory fee to be borne by each supervised entity and each supervised group; and the procedure for the collection by the ECB of the annual supervisory fees.