Annex III

Institutions should specify in Annex III if they are eligible to apply the derogations under Article 94(3) of Directive 2013/36/EU regarding the requirement to pay out a part of variable remuneration in instruments and under deferral arrangements and provide the information requested regarding the identified staff to whom the derogations are applied. When submitting data on a consolidated basis, the number of identified staff and remuneration to be reported should be the sum of all identified staff and remuneration across all entities that benefit from the derogations at entities that are subject to prudential consolidation and to the remuneration requirements under that Directive.

Derogations under Article 94 (3) of Directive 2013/36/EU should be considered as applied when the institution that is subject to the derogation decides not to apply the minimum requirements regarding the portion to be deferred or paid out in instruments under Article 94(1) of that Directive (e.g. a derogation is still applied if 30% of an executive director ’s variable remuneration is deferred, or if it is deferred for only 3 years, as the minimum requirements of 40% deferral for at least 4 years have not been met).