EBA欧洲银行-EBA-Final-Report-on-High-Earners-2015_45页_1014kb

EBA Report on High Earners (Data as of End 2015)

Core Content

This report presents the European Banking Authority's (EBA) analysis of data on high earners—individuals earning EUR 1 million or more in annual remuneration—collected for the year 2015, in accordance with Directive 2013/36/EU (CRD IV). The data are aggregated at the EU level and by Member State, and the EBA has also analyzed remuneration trends for high earners.

Main Findings

Increase in the Number of High Earners

• The number of high earners increased significantly from 3865 in 2014 to 5142 in 2015, a rise of +33.04%.
• The increase was primarily due to changes in the EUR-GBP exchange rate, which caused a surge in staff income paid in GBP when converted to EUR.
• The UK accounted for 80.4% of all high earners in the EU, with 4133 individuals, most of whom were remunerated in GBP.
• In most other Member States, the number of high earners increased slightly, except for Hungary, Finland, Luxembourg, the Netherlands, Norway, and Poland, where it decreased.

Identified Staff

• Around 86% of high earners were identified staff in 2015, compared to 87% in 2014.
• The percentage of high earners identified as staff with a material impact on the institution's risk profile has increased significantly since 2013, from 59% to 86% after the implementation of the RTS on identified staff in 2014.
• Not all high earners are identified staff, as the definition of high earners differs slightly from that of identified staff, particularly in terms of remuneration calculation and the timing of variable remuneration.

Remuneration Trends

• The average variable-to-fixed remuneration ratio for all high earners increased from 127% in 2014 to 147% in 2015.
• In the asset management business area, the ratio was 468%, largely due to waivers granted in several Member States.
• In other business lines, the ratio exceeded 200% in some cases, though to a lesser extent (e.g., 219% in "all other" functions).
• For Greece (EL) and Ireland (IE), the ratio exceeded 200% due to national law waivers or case-by-case approvals.

Biannual Benchmarking

• The EBA will now benchmark remuneration trends biannually (e.g., for performance years 2015 and 2016 in 2017).
• It will continue to publish data on high earners annually to monitor and evaluate developments in this area.

Key Information

• Data Collection Methodology: The EBA collects data at the consolidated level for institutions and EU branches in third-country institutions. Data is aggregated by Member State and by payment bracket.
• Exclusions: Competent authorities may approve exclusions of high earners from the identified staff category under exceptional circumstances.
• Currency Conversion: Exchange rates between EUR and GBP had a significant impact on the number of high earners, as income in GBP can exceed the EUR 1 million threshold when converted.
• Payment Bracket: The highest payment bracket reached EUR 34 million.

Summary of Data by Member State

Annexes

• Annex I: Aggregated data at the EU level.
• Annex II: Aggregated data by Member State.
• Annex III: Aggregated data by Member State and payment bracket.

Conclusion

The EBA's report highlights a significant increase in the number of high earners in the EU, particularly in the UK, and the impact of currency fluctuations on this metric. It also emphasizes the stability of the percentage of high earners identified as having a material impact on risk profiles, as well as the increasing variable-to-fixed remuneration ratio, especially in asset management. The report underscores the importance of consistent remuneration practices across the EU and the need for further investigation into exclusions and waivers.