CBI Funding Model


From 9 July 2009 the CBI Consortium Funding Model has been reviewed according to the following criteria.


The financial institutions willing to join the CBI Consortium, upon the effective admission to the Consortium have to pay

  • one-off ownership stake , according to the Article 17, first paragraph, CBI Consortium Statute;
  • one-off admission fee, that depends upon size categories, according to the Article 2 e) of the CBI Admission regulation;


According to what has been established by the CBI Board on the 9 July 2009, each Consortium member shall also pay on a yearly basis:

  1. a fixed quota:
  2. a variable quota that depends upon the number of enterprises for whom the Bank is either Active or Executing Bank.


What is more, with the purpose to contain the excessive impact of the variation of the funding model, a yearly maximum cap for increases of the Consortium contribution has been defined. This ceiling has been fixed to the 40% for the first three years. Moreover, it has been defined a special plan for distributing the percentage of the fixed quota and the variable quota, based upon the Budget/Balance Sheet:

  • 1st year (2009) - fixed quota: 47%; variable quota:53%;
  • 2nd year (2010) - fixed quota: 41%; variable quota: 59%;
  • 3rd year (2011) - fixed quota: 35%; variable quota: 65%;
  •  4th year (2012) - fixed quota: 29%; variable quota: 71%;
  • 5th year (2013) - steady distribution model, the same as the 4th year one ( fixed quota: 29%; variable quota: 71%)

 

By way of example, in this page an esteem of the contributions that should be paid in 2009 is available (net of the ownership stake in the Consortium Fund and of the Admission Fee).

 

The annual contributions have to be paid by the Consortium members at due time, according to the conditions established by the Board. As regards banking groups, the leading bank is obliged to pay the sum of the stakes that can be applied to each bank of the group.

The Consortium members have to provide data and information as and if requested by CBI. These data and information will be used to calculate the variable quota, according to terms and conditions established by the Consortium. If a single Consortium member puts off or omits the communication of the abovementioned data, the Consortium will enforce, beyond the expected fee, a sanction, whose amount is defined by the Board.

 
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