Consultation paper : draft guidelines on the data collection exercise regarding high earners

The European Banking Authority (EBA) is updating its ‘Guidelines on the data collection exercise for high earners’, which was originally published on 27 July 2012, following the changes to the reporting requirements set out in Directive 2013/36/EU. The changes are necessary to adopt the changed requirements of the Directive, and some additional clarifications have also been given to ensure high quality of the data collected. The template has also been updated to better align with the data collected in the remuneration benchmarking exercise. Therefore the EBA is consulting on the updated Guidelines only for a limited time period of one month.Directive 2013/36/EU requires the national competent authorities to collect information on the number of natural persons per institution remunerated EUR 1 million or more per financial year, in pay brackets of EUR 1 million, including their job responsibilities, the business area and the main elements of the salary, bonus, long-term award and pension contribution. Therefore, the data on high earners needs to be collected in a more granular manner than under the previous framework with regard to the need to collect the information in pay brackets of EUR 1 million and additional information on their job responsibilities. A new template for the collection of data has been provided in this Consultation Paper.The information collected by the competent authorities has to be forwarded to the European Banking Authority (EBA), which will publish the data on an aggregate home Member State basis in a common reporting format. The new reporting format will apply for the collection of data on high earners as from the financial year 2013.