EBA欧洲银行-EBA-Report-on-the-principles-on-remuneration-policies-and-the-use-of-allowances_10页_262kb

报告摘要

EBA Report Summary: Application of Directive 2013/36/EU on Remuneration Policies

Core Content

This EBA report focuses on the application of Directive 2013/36/EU (CRD IV) regarding remuneration policies of credit institutions and investment firms, particularly the use of allowances. The report addresses the categorisation of allowances as either fixed or variable remuneration, and examines the compliance with the variable remuneration limit (100% of fixed remuneration, 200% with shareholders' approval).

Main Viewpoints

Regulatory Intent: The CRD IV aims to prevent excessive risk-taking and ensure sound risk management by limiting the proportion of variable remuneration to the fixed component.
Role-based Allowances: These allowances, introduced by institutions to increase fixed remuneration and avoid exceeding the variable remuneration cap, are not part of routine employment packages and are linked to the role, function, or influence of staff.
Categorisation Issues: Many role-based allowances are discretionary, not predetermined, not transparent, or not permanent, which contradicts the principles of fixed remuneration and may violate the variable remuneration cap.
Risk Incentives: The lack of transparency and certainty in these allowances may encourage inappropriate risk-taking to maintain them, especially during poor performance periods.
EBA's Role: The EBA is tasked with monitoring and assessing remuneration practices, requesting information, and conducting peer reviews to ensure consistency and effectiveness in enforcement. The report also informs the development of guidelines on remuneration policies.

Key Information

Definitions and Regulatory Context

Fixed Remuneration: Includes basic salary, regular pension contributions, and non-performance-based benefits. It should be predetermined, permanent, and transparent.
Variable Remuneration: Linked to performance or other contractual elements. It is subject to the 100% or 200% cap depending on shareholder approval.
Allowances: Additional payments or benefits not part of routine employment packages, often used to top up fixed remuneration or retain key staff.

Categorisation of Role-based Allowances

The EBA has identified that role-based allowances may fall under either fixed or variable remuneration based on specific conditions:

Fixed Remuneration: If allowances are predetermined, permanent, non-performance-based, and non-discretionary.
Variable Remuneration: If allowances are discretionary, revocable, linked to performance, or tied to the economic environment.

Findings and Analysis

Allowances as Fixed Remuneration: Some allowances are considered fixed, especially when tied to organisational responsibilities and non-performance-related factors.
Allowances as Variable Remuneration: Others, particularly those with discretionary or performance-linked conditions, are classified as variable remuneration and must comply with the variable remuneration cap.
Impact on Risk Management: Discretionary allowances may undermine sound risk management by creating uncertainty and incentives for excessive risk-taking.
Need for Transparency: The lack of clear criteria for reviewing or adjusting allowances raises concerns about transparency and alignment with risk strategy.

Conclusions and Way Forward

The EBA concludes that discretionary role-based allowances should be classified as variable remuneration, as they do not meet the criteria for fixed remuneration.
Institutions are expected to revise their remuneration policies to treat such allowances as variable, ensuring compliance with CRD IV provisions.
Competent authorities are tasked with ensuring proper categorisation and implementing necessary changes.
The EBA is developing guidelines on remuneration, which will be based on this analysis and will include specific criteria for allocating remuneration components.
A report on remuneration provisions is due to be submitted by the European Commission to the European Parliament and Council by 30 June 2016.

Annex I – Relevant CRD Provisions

Recital 64: Clarifies the distinction between fixed and variable remuneration, including non-performance-based benefits.
Article 92(1)(a): Requires remuneration policies to promote sound risk management and not encourage excessive risk-taking.
Article 92(1)(g): Mandates that remuneration policies distinguish between fixed and variable components based on professional experience, organisational responsibility, and performance.
Article 94(1)(g)(i): Sets a maximum variable remuneration ratio of 100% of the fixed component.
Article 94(1)(g)(ii): Allows shareholders to approve a higher ratio up to 200%.
Article 94(1)(q): Prohibits variable remuneration paid through non-compliant vehicles or methods.
RTS on Identified Staff: The Commission Delegated Regulation (EU) No 604/2014 provides qualitative and quantitative criteria for identifying staff whose activities significantly affect the institution's risk profile.

Summary of Findings

Role-based allowances are not automatically fixed remuneration.
Many allowances are discretionary and performance-linked, and thus should be treated as variable remuneration.
The EBA recommends that institutions classify such allowances as variable and adjust their policies accordingly.
Transparency and predetermined criteria are essential to ensure compliance with CRD IV and promote sound risk management.