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The European Banking Authority (EBA) published today its Report on benchmarking of remuneration practices in EU banks for the financial years 2019 and 2020 and high earners data (EU27/EEA) for 2020. The number of high earners went down from 1 444 (EU27/EEA) or 4 963 (EU28/EEA) in 2019 to 1 383 (EU27/EEA) in 2020. While the bonus level for high earners remained relatively stable, a visible reduction can be observed for risk takers (identified staff).

The European Banking Authority (EBA) today published its final updated Guidelines on the data collection exercise on high earners, which were originally released in 2012 and revised in 2014. The update of the data collection exercises reflects the amended remuneration framework laid down in the Capital Requirements Directive (CRD), including the introduction of derogations to pay out a part of the variable remuneration in instruments and under deferral arrangements. In addition, the need to update these Guidelines stems from the specific remuneration regime that has been introduced for investment firms and is laid down in the Investment Firms Directive (IFD) and Investment Firms Regulation (IFR).

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).

The European Banking Authority (EBA) launched today a consultation to update its Guidelines on the remuneration benchmarking exercise under the Capital Requirements Directive (CRD), which was originally published in 2012 and updated in 2014. The review integrates additional requirements introduced by CRD V regarding the application of derogations to the requirement to pay out a part of variable remuneration in instruments and under deferral arrangements and the benchmarking of the gender pay gap. In addition, the review also includes guidance on how to harmonise the benchmarking of approvals granted by shareholders to use higher ratios than 100% between the variable and fixed remuneration. A separate and specific set of Guidelines is provided for investment firms under Investment Firms Directive (IFD). The consultation runs until 21 March 2022.

The European Banking Authority (EBA) launched today a consultation on updates to its Guidelines on the data collection exercise on high earners, which were originally published in 2012 and revised in 2014. The review of the data collection exercises reflect the amended remuneration framework laid down in the Capital Requirements Directive (CRDV), including the introduction of derogations to pay out a part of the variable remuneration in instruments and under deferral arrangements. In addition, the need to update these Guidelines stems from the specific remuneration regime that has been introduced for investment firms and is laid down in the Investment Firms Directive (IFD) and Investment Firms Regulation (IFR). The consultation runs until 21 March 2022.

​​​​​​​The European Banking Authority (EBA) published today its Report on high earners for 2019. The analysis shows that in 2019, 4 963 individuals working for EU banks received a remuneration of more than EUR 1 million, which is mostly the same as in 2018. The average ratio between the variable and fixed remuneration for high earners decreased from 139% in 2018 to 129% in 2019. Institutions’ preparation for the UK withdrawal from the EU has affected the distribution of high earners across the EU with a number of high earners relocating from the UK to the EU.