The Label fee has three components*:
- Initial Registration fee of €5,000 payable with the registration of a new cover pool;
- Annual Label fee of €3,800 where issuers will confirm/re-confirm their compliance to the Label Convention, with first year fee payable with the initial registration fee; and
- An additional volume issuance fee of €1 per million of new issuance uploaded on to the Label website during the previous calendar year, capped at €5,000 per year, not payable on the first year of a new Label.
Label fees, determined by the Label Committee, shall be payable on a calendar year basis in euros or the equivalent thereof, free of exchange and credit card and transfer commissions, at the start of the year, except when a new covered bond programme registers after the 1st of September of the calendar year where the issuer shall pay only half the annual Label fee (VAT not included)
* VAT not included