BaFin's Administrative Council approved a budget of €285.5 million for 2017 (previous year: €262.8 million). Personnel expenses accounted for around 73.3 percent of the projected expenditure (€209.3 million; previous year: €190 million) and non-staff costs for around 22.3 percent (€63.5 million; previous year: €55.9 million). Capital expenditure represented 2.2 percent of the budget (previous year: 4.2 percent). Cost reimbursements and grants were unchanged at the previous year’s level of 2.2 percent of the budget (see Figure 19 "2017 budget expenditure").

Figure 19 2017 budget expenditure

2017 budget expenditure

BaFin

Financing through cost allocations and fees

BaFin is independent of the federal budget and is fully self-financed from its own income. The largest proportion of this in the 2017 budget was attributable to cost allocations levied on the supervised undertakings, a special levy with a financing function (projected figure for 2017: €260.6 million; previous year: €236.3 million). BaFin also generates administrative income such as fees and interest (projected figure for 2017: €24.9 million; previous year: €26.5 million; see Figure 20 "2017 budget income").

Figure 20 2017 budget income

2017 budget income

BaFin

The final cost allocation for 2016 was performed in 2017. The banking industry accounted for 47.4 percent of the total income from cost allocations. The insurance sector contributed 26.7 percent and the securities trading sector 25.9 percent. The cost allocation for 2017 will take place during the course of 2018 (see Figure 21 "Cost allocations by supervisory area in 2016").

Figure 21 Cost allocations by supervisory area in 2016

Cost allocations by supervisory area in 2016

BaFin

Actual expenditure/income

BaFin's actual expenditure in 2017 was approximately €279 million (previous year: €248 million). This is around €6.4 million less than the figure reported in the budget. This was set against income of around €282.5 million (previous year: €261.5 million). BaFin's Administrative Council had not yet approved the 2017 annual financial statements at the time of going to press.

Separate enforcement budget

BaFin drew up a separate enforcement budget of €8.2 million in 2017 (previous year: €8.2 million). This included a planned allocation to the German Financial Reporting Enforcement Panel (Deutsche Prüfstelle für Rechnungslegung) amounting to €6 million (previous year: €6 million). Actual expenditure on enforcement amounted to around €7.9 million (previous year: €7.8 million), while income – including advance cost allocation payments for 2018 – amounted in total to approximately €16.5 million (previous year: €14.7 million).