EBA: Probe into EU bankers allowances
The EBA has today published its findings regarding discretionary remuneration practices across the EU banking sector. The EBA's report shows that many institutions had topped up the fixed remuneration of their staff and had introduced discretionary ‘role based' allowances which have an impact on the limit of the ratio between variable and fixed remuneration required by the EU Capital Requirements Directive (CRD IV). Competent authorities must make sure that institutions review their remuneration policies to comply with the EBA report and with CRD IV requirements. EBA is also revising its guidelines on remuneration policies and will consult on those by the end of 2014.
For more information
- http://www.eba.europa.eu/documents/10180/534414/EBA+Report+on+the+principles+on+remuneration+policies+and+the+use+of+allowances.pdf
- http://www.eba.europa.eu/documents/10180/657547/EBA-Op-2014-10+Opinion+on+remuneration+and+allowances.pdf
- http://www.eba.europa.eu/-/eba-discloses-probe-into-eu-bankers-allowances