EEM Label Fee Structure

The Label is granted to each mortgage/retrofitting loan and the Label fee has three components\*: 

  • Initial Registration fee of EUR 5,000 payable with the registration of a new cover pool; 
  • Annual Label fee of EUR 4,000 where issuers will confirm/re-confirm their compliance to the EEM Label Convention, with first year fee payable with the initial registration fee; and 
  • An additional volume issuance fee of EUR 1 per million of new issuance uploaded on to the Label website during the previous calendar year, capped at EUR 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).  

For those lending institutions which already joined in 2022 the Initial Registration Fee for 2023 will be waived and for those which publish an HDT before year-end 2022, the Annual Label Fee for 2023 will be reduced by 50%. Please find below a small example of the Cash-Flow

January 2023 January 2024
Already labelled lending institutions, at least one HDT published in 2022
  • Initial registration fee: EUR 0
  • Annual label fee: EUR 2,000
  • Volume Issuance Fee: EUR 0
  • Annual label fee: EUR 4,000
  • Volume Issuance Fee: EUR *
Already labelled lending institutions, no HDT published in 2022
  • Initial registration fee: EUR 0
  • Annual label fee: EUR 4,000
  • Volume Issuance Fee: EUR 0
  • Annual label fee: EUR 4,000
ew lending institution joining in 2023
  • Initial registration fee: EUR 5,000
  • Annual label fee: EUR 4,000
  • Volume Issuance Fee: EUR 0
  • Annual label fee: EUR 4,000
  • Volume Issuance Fee: EUR *

*VAT not included