Fees paid by banks in Australia for the Committed Liquidity Facility from the Reserve Bank of Australia will chew through more than two per cent of industry profits, or up to A$500 million a year, the RBA annual report shows.Fees paid by 13 authorised deposit-taking institutions for the CLF, which came into force in January this year, were $208 million on an accrual basis, though $242 million on a cash basis.The aggregate undrawn commitment of the CLF at June 2015 was around $265 billion for the 13 ADIs.Banks pay a fee of 15 basis points each year on the amount committed.The aggregate size of the facility is the difference between APRA's assessment of banks' overall liquidity requirements, less the RBA's assessment of the amount of Australian Government Securities and semi-government securities that could reasonably be held by banks without unduly affecting market functioning. According to the RBA annual report, "in 2015, these amounts were $450 billion and $175 billion, respectively."