Latest EU Report On High Earners Published

On February 2, 2017, the EBA published a Report on high earners using data accumulated as at the end of 2015. The CRD, as amended, imposes compensation requirements on banks for staff who are considered to have a material impact on the bank's risk profile, and there is a cap on the ratio of fixed to variable compensation for identified staff—known as the bonus cap. The EBA is required to publish aggregated data on high earners who earn EUR 1 million or more per financial year. The EBA's report analyzes information for the year 2015 and compares it to 2014 data. The analysis shows, among other things, that the number of high earners awarded EUR 1 million or more in annual remuneration has increased by 33%, largely as a result of changes in the exchange rate between the euro and pound sterling. The number of identified staff was largely unchanged between 2014 and 2015.