The principle of equal pay for equal work or work of equal value and measures to ensure equal opportunities have already been included in the EBA Guidelines on sound remuneration policies and internal governance.
The European Banking Authority (EBA) launched today a consultation to update its Guidelines on the remuneration benchmarking exercise under the Capital Requirements Directive (CRD),
which was originally published in 2012 and updated in 2014. The review
integrates additional requirements introduced by CRD V regarding the
application of derogations to the requirement to pay out a part of
variable remuneration in instruments and under deferral arrangements and
the benchmarking of the gender pay gap. In addition, the review also
includes guidance on how to harmonise the benchmarking of approvals
granted by shareholders to use higher ratios than 100% between the
variable and fixed remuneration. A separate and specific set of
Guidelines is provided for investment firms under Investment Firms
Directive (IFD). The consultation runs until 21 March 2022.
The additional revisions to the Guidelines for institutions and the
new Guidelines for investment firms reflect the changes made to
remuneration and disclosure requirements as well as the new remuneration
framework for investment firms. The approach taken in the draft
Guidelines for investment firms is consistent with the corresponding
Guidelines for banks.
The templates for the data collection have been revised, taking also into account the European Commission’s Implementing Regulation on disclosures.
Additional information is collected on the application of the
derogations to the application of the requirements to pay out parts of
the variable remuneration in instruments and under deferral
arrangements.
The principle of equal pay for equal work or work of equal value and
measures to ensure equal opportunities have already been included in the
EBA Guidelines on sound remuneration policies and internal governance.
The benchmarking of the gender pay gap will allow competent authorities
to monitor the implementation of such measures and their development at
different levels of pay. The Guidelines aim at ensuring that the
benchmarking of the gender pay gap covers a representative sample of
institutions. Specific templates for the benchmarking of the gender pay
gap have also been introduced.
Consultation process
Comments to this consultation can be sent to the EBA by clicking on
the "send your comments" button on the consultation page. Please note
that the deadline for the submission of comments is 21 March 2022. All
received contributions will be published at the end of the consultation,
unless requested otherwise.
A public hearing
on the draft Guidelines on the remuneration and gender pay benchmarking
exercises as well as on the draft Guidelines on the data collection
exercise on high earners (which are being consulted on in parallel) will
take place via conference call on 17 February 2022 from 14:00 to 15:30
CET.
EBA
© EBA
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