EBA consults on revised guidelines on remuneration benchmarking and data collection for high earners
The European Banking Authority (EBA) launched today consultations on its revised Guidelines on the data collection exercise for high earners and on its Guidelines on the remuneration benchmarking exercise. The updates to these two 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). Both public consultations will run until 07/05/2014.
The major changes in the EBA draft guidelines concern the reporting templates, which have been revised to include more granular data and to ensure even better quality of the data collected. However, the main approach and processes to collect and process the data are maintained in these updated Guidelines. The revised templates should already be used for the collection of data for the financial year 2013.
As far as high earners are concerned, CRD IV requires competent authorities to gather data in a more granular manner and additional information on job responsibilities.
The updated templates for the remuneration benchmarking exercise introduce a more granular collection of remuneration for different business areas, control and corporate functions. This ensures more meaningful benchmarking practices across different classes of staff.
The proposed changes ensure that the Guidelines comply with the amended requirements of the CRD and the CRR, as well as the quality of the data, hence allowing the EBA to carry out strengthened data analysis.
Comments can be sent to the EBA by clicking on the "send your comments" button on the consultation page. Please note that the deadline for the submission of comments is 07/05/2014.
All contributions received will be published following the close of the consultation, unless requested otherwise.
Legal basis and next steps
The proposed draft Guidelines have been developed on the basis of Directive 36/2013 of 26 June 2013 (CRD). The EBA is expected to finalise and publish the Guidelines by 30/06/2014.
Consultation Paper (EBA/CP/2014/04)
(607.12 KB - PDF) Last update 7 April 2014
Consultation Paper (EBA/CP/2014/05)
(478.52 KB - PDF) Last update 13 February 2015
Franca Rosa Congiu