Guidelines on the data collection exercise regarding high earners

Status: Final (awaiting translation into the EU official languages)

These Guidelines are meant to increase the consistency of information collected on the number of individuals per credit institution in pay brackets of at least 1 million Euros. As requested by the Capital Requirements Directive, national competent authorities shall collect such information for all credit institutions and the EBA shall disclose the data collected on an aggregate home Member State basis. The updates to these Guidelines, which had originally been published on 27 July 2012, follow on from changes in reporting requirements as laid down in the Capital Requirements Directive and Regulation (CRDIV and CRR).

EBA publishes revised guidelines on high earners data collection and remuneration benchmarking

EBA publishes revised guidelines on high earners data collection and remuneration benchmarking

16 July 2014

The European banking Authority (EBA) published today revised Guidelines on (i) the data collection exercise regarding high earners and (ii) on the remuneration benchmarking exercise. The update ensures that the data collection is in line with the amended provisions laid down in the Capital Requirements Directive (CRD IV), which provides for higher quality of the collected data and will increase transparency of remuneration paid to high earners. The updated Guidelines repeal those published on 27 July 2012.

According to the new requirements provided for in CRD IV, the EBA will collect data on the number of natural persons earning EUR 1 million or more per financial year, in pay brackets of EUR 1 million. The information will be broken down by institution and will include additional details about the job responsibilities of high earners. For this purpose, a new template for the collection of data is also included. For selected institutions, data will be collected for the same functions and business areas through the remuneration benchmarking exercise.

 In both data collections, competent authorities will collect from institutions, on an annual basis, detailed information on the structure of remuneration, which will be then submitted to the EBA and disclosed on an aggregated basis.

Both data collections aim at ensuring a high level of transparency regarding the remuneration practices within the Union and will be used to benchmark remuneration trends and practices. These include the use of instruments for the payment of variable remuneration.

The updated guidelines already apply to the data to be collected for performance during 2013. This will allow the EBA to analyse the development of remuneration policies in light of the changes introduced by CRD IV and, in particular, of those related to the limitation of the variable remuneration to 100% of the fixed remuneration (200% with shareholders' approval).

The EBA will issue a joint annual report on the results of both data collection exercises.

Legal basis

These final Guidelines have been developed according to Article 75 of Directive 2013/36/EC (CRDIV) which mandates the EBA to collect information on high earners as well as to use the data disclosed by institutions and forwarded to competent authorities to benchmark remuneration practices.

Press contacts:

Franca Rosa Congiu

E-mail: press@eba.europa.eu - Tel: +44 (0) 207 382 1772

EBA publishes Guidelines to streamline data collection on remuneration practices

EBA publishes Guidelines to streamline data collection on remuneration practices

27 July 2012

The EBA published today two sets of Guidelines on the data collection exercise regarding high earners and on the remuneration benchmarking exercise. The objective of these Guidelines is to streamline the data collection and increase the consistency and comparability of the information collected by national competent authorities. 

National competent authorities are expected to implement the provisions set out in the Guidelines within two months after their publication. The institutions should submit the relevant data to their national competent authority every year by the end of June. The latter should then submit this information to the EBA each year by the end of August. As a transitional arrangement, the first set of data should be submitted to the EBA by the end of December 2012 and should relate to remunerations for 2010 and 2011.

Guidelines on the data collection exercise regarding high earners

These Guidelines are meant to increase the consistency of information collected on the number of individuals per credit institution in pay brackets of at least 1 million Euros.

As requested by the CRD III Directive, national competent authorities shall collect such information for all credit institutions and the EBA shall disclose the data collected on an aggregate home Member State basis.

Guidelines on the remuneration benchmarking exercise

These Guidelines are meant to increase the consistency of information collected on the remuneration practices of credit institutions and investment firms in order to benchmark remuneration trends.

As requested by the CRD III Directive, national competent authorities shall collect the information and benchmark remuneration trends at national level while the EBA is in charge of performing the benchmarking at European level.

In line with the principle of proportionality, only certain institutions should be subject to this remuneration data collection for the purpose of the benchmarking exercise. National competent authorities have to ensure a representative coverage of their local banking markets in the sample of selected institutions.

Note to the editors

  1. The Directive 2010/76, so called CRD III, mandates national competent authorities to collect information on remuneration practices of credit institutions and investment firms to benchmark remuneration trends. These data should be submitted to the EBA who will perform benchmarking at the European level. The CRD III also requires national competent authorities to collect information on the number of individuals per institution in pay brackets of at least 1 million Euros. This information shall be sent to the EBA which shall disclose it on an aggregate home Member State basis. The CRD III states that the EBA may elaborate Guidelines to facilitate the implementation of these provisions and ensure the consistency of the information collected.
  2. In accordance with Article 16(3) of the EBA Regulation, Guidelines set out the EBA's view of appropriate supervisory practices within the European System of Financial Supervision or of how Union law should be applied in a particular area. Competent authorities and financial market participants must make every effort to comply with the guidelines. Before the deadline indicated in the Guidelines, i.e 2 months from the date of publication, Competent authorities must notify the EBA as to whether they comply or intend to comply with these guidelines, or otherwise with reasons for non-compliance. The notifications shall be published on the EBA website.

Press contacts:

Franca Rosa Congiu

E-mail: press@eba.europa.eu - Tel: +44 (0) 207 382 1772