The EBA launched two consultations on revised Guidelines on the data collection exercise for high earners and on Guidelines on the remuneration benchmarking exercise, following on from changes in reporting requirements as laid down in the CRD IV and CRR. Deadline for comments: 7 May 2014.
The major changes in the EBA draft guidelines concern the reporting templates, which have been revised to include more granular data and to ensure even better quality of the data collected. However, the main approach and processes to collect and process the data are maintained in these updated Guidelines. The revised templates should already be used for the collection of data for the financial year 2013.
As far as high earners are concerned, CRD IV requires competent authorities to gather data in a more granular manner and additional information on job responsibilities.
The updated templates for the remuneration benchmarking exercise introduce a more granular collection of remuneration for different business areas, control and corporate functions. This ensures more meaningful benchmarking practices across different classes of staff.
The proposed changes ensure that the Guidelines comply with the amended requirements of the CRD and the CRR, as well as the quality of the data, hence allowing the EBA to carry out strengthened data analysis.
Comments can be sent to the EBA by 7 May 2014.
Consultation Paper (EBA/CP/2014/04)
Consultation Paper (EBA/CP/2014/05)
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