5. General specifications for all benchmarking data to be reported

When submitting benchmarking data in accordance with Sections 3 and 4, investment firms and competent authorities should apply the general and data quality specifications set out in this Section and in Section 9 and the additional specifications set out in Sections 6, 7 and 8.

Benchmarking data should be submitted using accounting year-end figures in EUR. Where remuneration is disclosed in a currency other than EUR, the exchange rate used by the European Commission for financial programming and the budget for December of the reported year should be used for the conversion of the consolidated figures to be reported² .

² Net profits should be based on the accounting system used for regulatory reporting. For groups, it is the profit (or loss) based on the consolidated accounts.

Amounts should be reported as full amounts, i.e. not rounded amounts, in EUR (e.g. EUR 1 234 567 should be reported, instead of EUR 1.2 million).

Benchmarking data for the calendar year in which the financial year ended should be submitted in the following calendar year. E.g. for the benchmarking exercise for the financial year ending on any date in the year ‘20yy’, data will be submitted in the year ‘20yy+1’. The allocation of amounts to the fixed and variable part of remuneration should be made in line with Section 7 of the EBA Guidelines on sound remuneration policies under Directive 2013/36/EU.