Title III- Transitional provisions and implementation

Repeal

The EBA Guidelines on the remuneration benchmarking exercise (EBA/GL/2012/04), published on 27 July 2012, are repealed with immediate effect.

Transitional arrangements

8.1. Competent authorities should collect data relating to the performance year 2013 from the institutions by a date that ensures that the data relating to the performance year 2013 are submitted to the EBA by 30 November 2014.

8.2. For the data relating to the performance year 2013, 'staff whose professional activities have a material impact on the institution's risk profile' are considered to be those described in Annex V, Section 11(23) of Directive 2006/49 as amended by Directive 2010/76/EU.

8.3. When data to be submitted for the performance year 2013 cannot be mapped into the functions and business areas specified in these Guidelines, institutions may report for 2013, using the templates included in these Guidelines, aggregated data for the functions of management body in its management function and management body in its supervisory function, corporate functions and independent control functions under the category 'all other'.

Date of application

Competent authorities should implement these Guidelines by incorporating them within their supervisory procedures by 31 October 2014. After that date, competent authorities should ensure that institutions comply with them effectively.