EBA欧洲银行-EBA-Report-on-Benchmarking-of-Remuneration-and-High-Earners_75页_2mb

EBA Report Summary: Benchmarking of Remuneration Practices at the EU Level and Data on High Earners (End 2016)

Core Content

This report provides an analysis of remuneration practices across the European Union (EU) and data on high earners (staff earning EUR 1 million or more annually) as of the end of 2016. It outlines trends in remuneration, the impact of regulatory frameworks, and the distribution of high earners across EU Member States and business areas.

Main Figures

Key Observations

1. High Earners Overview

• The number of high earners (those earning EUR 1 million or more) decreased by 10.6% from 5,142 in 2015 to 4,597 in 2016, mainly due to the EUR-GBP exchange rate.
• The UK had the largest number of high earners (3,529), accounting for 76.77% of the total number of high earners in the EU.
• In 2016, 89.47% of high earners were identified staff, up from 85.73% in 2015.
• The highest payment bracket for high earners was EUR 33 million to EUR 34 million, though this was not common.

2. Remuneration Trends

• The average variable to fixed remuneration ratio for all high earners decreased over time, from 127% in 2014 to 104% in 2016.
• In asset management, the ratio was 358% in 2016, still above the 200% bonus cap.
• The bonus cap (maximum variable to fixed remuneration ratio of 100%) has been effective in reducing overall ratios, though its application varies by Member State.

3. Identified Staff Analysis

• The number of identified staff (those with a material impact on an institution's risk profile) decreased by 21.3% from 67,802 in 2015 to 53,382 in 2016.
• Identified staff represented 2.00% of all staff in 2016, compared to 2.42% in 2015.
• The average variable to fixed remuneration ratio for identified staff was 57.1% in 2016, down from 62.2% in 2015 and 65.5% in 2014.

4. Regional Distribution of High Earners

• The UK had the highest number of high earners, followed by Germany, Spain, and France.
• The number of high earners in Germany, Finland, Hungary, Italy, Liechtenstein, and Portugal slightly decreased, while others saw an increase.

5. Variable Remuneration Structures

• Deferred variable remuneration continues to be a key component of remuneration for identified staff, with the ratio of deferred to total variable remuneration decreasing slightly over time.
• Ex post risk adjustments and guaranteed variable remuneration are also part of the variable remuneration structure, with specific figures provided by business area.
• Severance payments and discretionary pension benefits were also noted, with some Member States allowing waivers for certain staff under proportionality considerations.

6. Regulatory Context

• The EBA is required under CRD IV to benchmark remuneration practices and publish data on high earners.
• The bonus cap is a key regulatory measure introduced by CRD IV, which limits the variable to fixed remuneration ratio to 100% (or 200% with shareholder approval).
• The RTS on identified staff (Commission Delegated Regulation (EU) No 604/2014) is being reviewed by the EBA to ensure consistent application across the EU.
• The EBA will continue to publish data on high earners annually and benchmark remuneration biennially.

Key Information

• Data Collection: The EBA collects data at the highest level of consolidation, including third-country subsidiaries, but excludes staff primarily active in third countries.
• Sample Size: In 2016, the EBA analyzed data from 144 groups and institutions, compared to 143 in 2014 and 148 in 2015.
• Exclusions: Some Member States waived the requirement to identify staff in small institutions, and certain staff earning EUR 1 million or more could be excluded if they did not meet the qualitative criteria.
• Future Plans: The EBA plans to conduct a benchmarking exercise for performance years 2017 and 2018 in 2019, and to continue monitoring remuneration trends.

Conclusion

The report highlights the ongoing efforts of the EBA to ensure transparency and consistency in remuneration practices across the EU. It notes a steady decline in both the number of high earners and the variable to fixed remuneration ratio, driven by regulatory measures and exchange rate fluctuations. However, differences in national implementation and the application of waivers continue to affect the uniformity of remuneration practices. The EBA remains committed to publishing aggregated data and reviewing regulatory standards to promote sound and sustainable remuneration policies.