Recital 1

(1)Pursuant to Article 16 of Regulation (EU) 2017/2402, the European Securities and Markets Authority (‘ESMA’) shall charge securitisation repositories fees that fully cover ESMA’s necessary expenditure relating to the registration and supervision of those repositories. ESMA will incur higher costs when processing applications for registration from securitisation repositories that intend to offer ancillary services. Such costs, however, will be lower where the securitisation repository is already registered as a trade repository under either Regulation (EU) No 648/2012 of the European Parliament and of the Council ² , or Regulation (EU) 2015/2365 of the European Parliament and of the Council ³ . The registration fee on entities applying for registration should therefore take specific account of the type of services to be provided by the securitisation repository and whether or not it is already registered as a trade repository. As ESMA’s expenditure in assessing the application for registration is the same, regardless of the size of the applicant, and only depends on the type of services that are to be provided, it is appropriate that the registration fee is fixed.