EBA discloses probe into EU bankers allowances

The European Banking Authority (EBA) published on the 15 October 2014 the findings of its investigation regarding discretionary remuneration practices across the EU banking sector. The report shows that some institutions have classified the so-called ‘role-based' allowances in a way that increases the fixed component of remuneration, which may impact on the limitation of the bonus cap.

As a result of this analysis, the EBA issued an Opinion to the European Commission and EU competent authorities calling for supervisors to ensure that institutions' remuneration practices on allowances comply with EU legislation.

• Primary Source

EurActiv, 15.10.14: UK bankers breaking bonus cap, says EU watchdog http://www.euractiv.com/sections/euro-finance/uk-bankers-breaking-bonus-cap-says-eu-watchdog-309200

ESO: Background information: UK set to challenge EU cap on bankers' bonuses http://www.europeansources.info/record/uk-set-to-challenge-eu-cap-on-bankers-bonuses/

EBA: Regulation and policy: Remuneration http://www.eba.europa.eu/regulation-and-policy/remuneration

EUObserver, 15.10.14: EU watchdog to close loophole on bank bonuses http://euobserver.com/news/126087

Deutsche Welle, 15.10.14: EU chides banks for breaching bonus cap http://dw.de/p/1DWAJ

The Guardian, 15.10.14: Banks face crackdown over EU bonus cap http://www.theguardian.com/business/2014/oct/15/banks-extra-payments-bonus-cap-regulator-bankers-eu

Blog: Open Europe, 17.10.14: UK takes another blow over bankers' bonus cap http://www.openeuropeblog.blogspot.co.uk/2014/10/uk-takes-another-blow-over-bankers.html

---