Consultation Paper 46 and 47
02 Sep 2011
Consultation Paper 46: On the remuneration benchmarking exercise
Consultation Paper 47: Remuneration data collection exercise regarding high earners
Source: European Banking Authority (EBA)
Deadline: 2 September 2011
The European Banking Authority (EBA) has published two consultation papers on guidelines for data collection on bank remuneration practices, which aim to establish a common approach across the EU for this purpose.
Under the requirements of the European Commission (EC)’s Capital Requirement Directive (CRD) III, which came into force on 1 January 2011, national supervisory authorities in the EU are to conduct two exercises. The first is a remuneration benchmarking exercise, which tasks authorities to collect aggregate quantitative information on banking remuneration. The EBA’s proposed guidelines for this exercise are listed in consultation paper CP 46. The second is a remuneration data collection exercise regarding high earners whose pay exceeds €1 million, the draft guidelines for which can be seen in CP 47.
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