EBA欧洲银行-EBA-Opinion-on-the-application-of-the-principle-of-proportionality-to-the-remuneration-provisions-in-Dir-2013-36-EU-28EBA-2016-Op-2029_34页_1mb

Summary of the EBA's Response on the Application of the Proportionality Principle to Remuneration Provisions in Directive 2013/36/EU

Core Content

This report outlines the European Banking Authority's (EBA) response to the European Commission's request for further information on the application of the principle of proportionality to remuneration provisions in Directive 2013/36/EU (CRD). The EBA analyzed current waiver practices and potential exemptions across EU Member States and provided estimates on the impact of different threshold levels for these waivers.

Main Findings

• Waiver Application Across Member States:
  Most Member States allow for the application of waivers in the area of remuneration, either through set thresholds or case-by-case assessments. Only five (CY, EE, SK, NO, IS) do not allow for any waivers in this area.

• Current Waiver Practices:
  Two-thirds of credit institutions and approximately 60% of their identified staff benefit from waivers. However, their market share is around 18%, which is lower than the number of institutions due to structural differences and varying thresholds.

• Thresholds for Waivers:
  Thresholds for waivers are typically based on the balance sheet total or the level of variable remuneration. These thresholds vary widely, from EUR 1,000 million in Austria to EUR 711,339 in the UK (based on total remuneration). Some Member States use a combination of absolute thresholds and variable-to-fixed remuneration ratios, which range from 1 month's salary to 50%.

• Exemptions for Identified Staff:
  Some Member States apply exemptions to identified staff based on low variable remuneration. In these cases, thresholds are set, and the remuneration is often limited to a maximum ratio of 100% or 200% of fixed remuneration, with shareholder approval.

• Impact of Different Thresholds:
  The EBA estimated that a potential waiver threshold of EUR 1.5 billion would exclude 2.8% of the EU's aggregated market share, while thresholds of EUR 5.0 billion and EUR 10.0 billion would lead to 6.8% and 10.2% exclusions respectively. These estimates were calculated for the EU27 (excluding the UK) due to data discrepancies.

• Use of Share-Linked Instruments:
  The EBA also examined the current use of share-linked instruments for variable remuneration. Most competent authorities allow listed institutions to use such instruments, but some, like the UK, have specific conditions.

Key Information

• Data Collection:
  The EBA gathered data from all EU/EEA competent authorities, including Iceland and Norway, with the reference date set at 31 December 2015. Data was converted to EUR using the 2015 exchange rates.

• Methodology Limitations:
  The analysis faced limitations due to time constraints, limited data quality, and the exclusion of branches of third-country institutions. Some data was estimated using statistical approximations.

• Calibration of Waivers:
  The EBA considered both individual and group-level waivers, with some Member States allowing for partial waivers based on specific criteria.

Structure of the Report

The report is divided into four sections:

1. Applicable Regulatory Framework by Member State:
   Overview of the legal frameworks and thresholds used for waivers in the area of remuneration.

2. Current Waiver Practices for CRD Institutions and Staff:
   Analysis of the number of institutions and staff currently benefiting from waivers, along with their market share.

3. Proposed Exemptions and Impact of Different Thresholds:
   Examination of the potential impact of adopting the EBA's proposed exemptions under different threshold levels.

4. Use of Share-Linked Instruments:
   Information on the current national implementation of share-linked instruments for variable remuneration.

Key Figures

• Figure 1: Overview of Member States allowing waivers.
• Figure 2: Thresholds for deferral and pay out in instruments.
• Figure 3: Thresholds for variable remuneration and discretionary pension benefits.
• Figure 4: Annual net earnings of workers across the EU.
• Figure 5: Number of institutions, staff, and identified staff, along with banking sector concentration.
• Figure 6: Institutions benefiting from waivers.
• Figure 7: Identified staff benefiting from waivers.
• Figure 8: Impact of waivers on institutions, identified staff, and market share.
• Figure 9: Percentiles of balance sheet totals.
• Figure 10-13: Effect of potential waivers at different thresholds.
• Figure 14-17: Impact of waivers not applicable to subsidiaries of significant institutions.
• Figure 18: Member States allowing use of share-linked instruments.

Conclusion

The EBA's report aims to provide the Commission with a detailed understanding of the current and potential application of the proportionality principle to remuneration provisions in CRD. It highlights the need for a harmonized approach across the EU, considering the diversity in waiver practices and thresholds among Member States.