EBA欧洲银行-EBA-public-hearing-GL-on-sound-remuneration-policies_13页_1mb

报告摘要

EBA Public Hearing on Draft Guidelines on Sound Remuneration Policies Summary

Core Content

The European Banking Authority (EBA) conducted a public hearing on the draft Guidelines (GL) on sound remuneration policies, published on 4 March 2015. The consultation period ended on 4 June 2015, and comments were to be submitted via the EBA's website. The hearing aimed to gather feedback on key aspects of the remuneration framework, particularly focusing on the application of proportionality and the use of share-linked instruments for listed companies.

Main Objectives of the Guidelines

The purpose of the guidelines is to ensure that remuneration policies in the European banking sector are aligned with the risk profile of institutions and promote long-term stability. The guidelines are an update to previous CEBS GLs and incorporate the requirements introduced by CRD IV, which impose a bonus cap on variable remuneration.

Key Changes and Focus Areas

1. Application of Proportionality Principle

CRD IV allows flexibility in applying remuneration rules based on the size, structure, and complexity of institutions.
However, the principle of proportionality cannot lead to the non-application of the rules.
The European Commission confirmed that deferral and payment in instruments requirements must apply to all institutions.
The EBA sought public opinion on how to apply the proportionality principle effectively.

2. Governance of Remuneration

Guidance on governance processes for implementing remuneration policies, with a focus on oversight functions.
Definition of significant institutions (GSII, OSII, and others established by NCAs) that require a remuneration committee.

3. Group-Wide Remuneration Policy

The responsible consolidating institution and NCAs must ensure a group-wide remuneration policy is implemented across all entities, including subsidiaries not subject to CRD IV.
National implementations vary, with differences in the scope of consolidation (accounting vs. prudential).

4. Identification Process of Staff

Clarification on the identification process for staff whose activities have a material impact on the risk profile.
Notification and approval processes for excluding staff based on quantitative criteria.
AIF and UCITS are only included in the group context.
Institutions must notify exclusions exceeding €500,000 within 6 months after the preceding financial year.
Prior approval is required for exclusions over €750,000 or 0.3% of the highest earners.

5. Fixed vs. Variable Remuneration

Fixed remuneration must be predetermined, non-discretionary, transparent, permanent, and non-revocable (except via collective bargaining or renegotiation).
Variable remuneration includes all other forms of compensation, and must be aligned with the long-term risks of the institution.
Deferral arrangements are required for variable remuneration, with a minimum deferral period of 3–5 years.
Non-listed institutions may use share-linked instruments, while listed ones are prohibited.

Envisaged Timeline

The final guidelines are expected to be implemented by the end of 2015.
They will apply to the performance year 2016 and onwards.
The previous 2010 guidelines on remuneration policies and practices will be repealed once the new ones are adopted.
CRD rules must still be complied with at all times.

Additional EBA Work

Remuneration Benchmarking Reports: Expected to be published by the end of June 2015 (2013 data) and December 2015 (2014 data).
Review of Art. 161 CRD: Ongoing in collaboration with the European Commission.
National Implementation of CRD: Monitoring how member states implement the rules.
Use of Higher Ratios: Approval of higher ratios for variable remuneration in the EU.
Follow-Up on Allowances: Addressing any allowances or gaps in the application of CRD.
Proportionality Principle Interpretation: Assessing the impact of how this principle is interpreted.
Remuneration Trends and Practices: Analyzing the impact of the bonus cap on compensation structures.