EBA publishes its final guidelines on the remuneration and gender pay gap benchmarking exercise under the Capital Requirements Directive and the Investment Firms Directive
The European Banking Authority (EBA) today published its final Guidelines on the remuneration benchmarking exercise under the Capital Requirements Directive (CRD), which were originally published in 2012 and updated in 2014. The update was necessary to take into account additional requirements introduced by CRD V regarding the application of derogations and the benchmarking of the gender pay gap. The EBA also added guidance to harmonise the benchmarking of approvals granted by shareholders to use higher ratios than 100% between the variable and fixed remuneration. Separate Guidelines on the remuneration and gender pay gap benchmarking exercise are provided for investment firms under the Investment Firms Directive (IFD).