2018年-EBA欧洲银行管理局_EBA_Report_on_Benchmarking_of_Remuneration_and_High_Earners_75页_1mb

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 aggregated data on high earners, defined as individuals earning EUR 1 million or more per financial year. The European Banking Authority (EBA) is mandated under Directive 2013/36/EU (CRD IV) to benchmark these practices and publish the data, while competent authorities are responsible for collecting the information.

Main Findings

High Earners Overview

• The number of high earners in the EU decreased from 5,142 in 2015 to 4,597 in 2016, a reduction of 10.6%, primarily due to the EUR-GBP exchange rate fluctuations.
• The UK accounted for the largest number of high earners in 2016, with 3,529 individuals, representing 76.77% of the total.
• The highest payment bracket observed was between EUR 33 million and EUR 34 million.
• 89.47% of high earners were identified staff in 2016, up from 85.73% in 2015.

Remuneration Trends

• The average variable to fixed remuneration ratio for all identified staff decreased from 65.5% in 2014 to 57.1% in 2016.
• The bonus cap (a maximum ratio of variable to fixed remuneration of 100%, or 200% with shareholder approval) continued to influence remuneration structures, leading to a decline in the variable to fixed ratio.
• The number of identified staff in the EU decreased significantly from 67,802 in 2015 to 53,382 in 2016 (-21.3%), with 2.00% of all staff being identified staff in 2016, down from 2.42% in 2015.

Key Drivers of Change

• Exchange rate fluctuations played a major role in reducing the number of high earners in 2016, especially for those paid in GBP.
• Two major banks accounted for nearly 15,500 of the reduction in identified staff, while the rest of the sample showed a small increase.
• National implementation differences of CRD IV led to variations in the application of deferral and payout rules, as well as in the identification of staff.

Remuneration Components

• Fixed remuneration for identified staff totaled EUR 12.87 billion in 2016, down from EUR 13.58 billion in 2015.
• Variable remuneration for identified staff was EUR 7.35 billion in 2016, compared to EUR 8.45 billion in 2015.
• Deferred variable remuneration made up a significant portion of variable pay, with a ratio of 57.1% for all identified staff in 2016.

Business Area and Function Analysis

• Asset management had the highest variable to fixed remuneration ratio in 2016 at 358%, still exceeding the 200% cap.
• Retail banking and investment banking also showed high variable to fixed ratios, while corporate functions and independent control functions had lower ones.
• The management body (both supervisory and management functions) showed a variable to fixed ratio of 57.1%, with total remuneration averaging around EUR 450,000.

Additional Remuneration Elements

• Ex post risk adjustments totaled EUR 1.26 billion in 2016, with the highest amounts in asset management.
• Guaranteed variable remuneration was awarded to 1,536 identified staff, with a median amount of EUR 135,000.
• Severance payments totaled EUR 1.19 billion, with the highest amounts in asset management.
• Discretionary pension benefits were awarded to 1,020 identified staff, with a median value of EUR 45,000.

Key Information

• The EBA will continue to benchmark remuneration trends biennially, with the next exercise expected in 2019 for performance years 2017 and 2018.
• The EBA will also continue to publish annual data on high earners and review the application of regulatory technical standards (RTS) on identified staff.
• The EBA issued guidelines and Q&A documents to standardize the remuneration benchmarking process, ensuring consistency across the EU.
• Data collection is based on the highest consolidation level, covering all subsidiaries and branches, but not staff predominantly active in third countries.
• Proportionality considerations and national law allow for waivers of remuneration rules in some cases, particularly for small institutions.

Main Figures from the Benchmarking Exercise (2014–2016)

Conclusion

The report highlights the ongoing efforts of the EBA to ensure consistency and transparency in remuneration practices across the EU. While the number of high earners and identified staff has decreased, the bonus cap continues to play a central role in shaping remuneration structures. The EBA remains committed to monitoring and evaluating these trends, with a focus on stability, profitability, and compliance with regulatory standards.