Australia's banks, superannuation funds and insurers will be hit with a $115.6 million bill over the coming year to provide the bulk of the funding for the Australian Prudential Regulatory Authority.
At the same time, the industry faces $11.5 million just in the fees used to fund securities regulator, the Australian Securities and Investments Commission. Much of the increase in ASIC's $32.2 million funding jump is to police over- the-counter derivative products.
The funding for APRA represents a $2.7 million increase over the previous year given more than $3 million worth of funds has been left sitting unspent, according to figures contained in a consultation paper released by Treasury.
The figures also reveal how APRA spends its supervisory efforts, with banks and credit unions taking up some 45 per cent of its time. The nation's $1.5 trillion superannuation industry takes up 26 per cent of its resources, while general insurers and life insurers take 19 per cent and 10 per cent respectively. The break-up helps calculate how much each sector must pay for the levy.
Meanwhile, Commonwealth Bank, National Australia Bank and Westpac are expected to each pay $6.2 million or the bulk of the bank sector levy, given that each lender's asset base exceeds $500 billion.
Large international banks are also expected to pay $1.5 million to cover APRA's supervision costs.
The discussion paper sets out the main aims for APRA over the coming year, including overseeing the introduction of new banking rules developed by the G20 and global banking regulators.
The regulator also intends to overhaul the way it manages documents, which will give it greater "analytical support" for the way it measures risk inside banks.
The discussion paper also said funds were needed to ensure APRA "recruits and retains the right people for the job".