EBA Publishes Annual Report on High Earners in Banks in EU
EBA published its annual report on high earners in the banks in EU. The report shows that the number of high earners in EU banks receiving a remuneration of more than EUR 1 million slightly increased 5.69%, from 4,597 in 2016 to 4,859 in 2017.
Overall, most member states across EU have registered an increase in the number of high earners and only a few of them have witnessed a high slight decrease. Out of the total number of high earners in EU, 73.27% are located in UK and most of them are remunerated in GBP. In the business area of asset management, the average ratio of variable to fixed remuneration increased from 358% in 2016 to 402% in 2017, still exceeding by far the maximum ratio of 200%.
This report analyzes the data on high earners for 2017. The report looking at the 2018 figures will be published by the beginning of 2020 and will be combined with the benchmarking of remuneration trends for 2017 and 2018. EBA will continue to benchmark remuneration trends and to monitor and evaluate new developments in this area. Additionally, EBA is reviewing the application of the regulatory technical standards on identified staff and a report should be expected in the second semester of 2019.
Related Links
Keywords: Europe, EU, Banking, Securities, Remuneration, CRD IV, High Earners, EBA
Previous Article
IMF Publishes Report on 2018 Article IV Consultation with BelgiumRelated Articles
BoE Provides Reporting Update on Form AS and Form FV
BoE updated the known issues document for the statistical reporting Forms AS and FV.
EBA Provides Clarity on Implementation of Guidance on COVID Reporting
EBA updated the report on the implementation of selected COVID-19 policies.
OSFI Provides Update on Implementation of IFRS 17 in Canada
OSFI published a letter that provides an update on the milestones for the implementation of the IFRS 17 standard on insurance contracts.
FSI Note Discusses Challenges Associated with COVID Relief Measures
The Financial Stability Institute (FSI) of BIS published a brief note that examines the supervisory challenges associated with certain temporary regulatory relief measures introduced by BCBS and prudential authorities in response to the COVID-19 pandemic.
BCBS Consults on Principles for Operational Risk and Resilience
BCBS is consulting on the principles for operational resilience and the revisions to the principles for sound management of operational risk for banks.
BoE Updates Template and Definitions for Form ER
BoE updated the reporting template for Form ER as well as the Form ER definitions, which contain guidance on the methodology to be used in calculating annualized interest rates.
MAS Announces Key Initiatives to Support Adoption of SORA
MAS announced several initiatives to support adoption of the Singapore Overnight Rate Average (SORA), which is administered by MAS.
HKMA Announces Repayment Deferment Under Payment Holiday Scheme
HKMA, together with the Banking Sector Small and Medium-Size Enterprise (SME) Lending Coordination Mechanism, announced a ninety-day repayment deferment for trade facilities under the Pre-approved Principal Payment Holiday Scheme.
ESRB Paper Presents Alternative Approach to EBA Stress Test Proposal
The Advisory Scientific Committee of ESRB published a response, in the form of an Insights Paper, to the EBA proposals for reforms to the stress testing framework in EU.
FASB Simplifies Accounting for Certain Financial Instruments
FASB issued a new Accounting Standards Update (2020-06) to improve financial reporting associated with accounting for convertible instruments and contracts in an entity’s own equity.
