3. Remuneration policies and group context

75.Where applying these guidelines on a consolidated or sub-consolidated basis, the consolidating institution should ensure that the provisions of these guidelines apply to the staff and identified staff of its subsidiaries within the scope of prudential consolidation as set out in paragraph 9. The consolidating or sub-consolidating institution should have available and send to its competent authority on request information on the application of remuneration policies in line with these guidelines on a consolidated or sub-consolidated basis, including their subsidiaries in the scope of prudential consolidation.

76.The consolidating supervisor and the competent authority of the sub-consolidating institution should effectively supervise the application of the previous paragraph and endeavour to engage, including within the colleges of supervisors, with other authorities of Member States responsible for the supervision of the relevant subsidiaries and with authorities from third countries where this is feasible.

77.At the consolidated or sub-consolidated level, the consolidating institution and competent authorities should ensure that a group-wide remuneration policy is implemented and complied with for all staff, including all identified staff, in all institutions and other entities within the scope of prudential consolidation and all branches. When setting the remuneration policy at group level, specific remuneration requirements of subsidiaries should be taken into account. The group remuneration policy should be consistent with and promote sound and effective risk management and be gender neutral

78.Regarding institutions and entities within a group located in more than one Member State, the group-wide remuneration policy should specify how its implementation should deal with differences between national implementations of the remuneration requirements of Directive 2013/36/EU, in particular regarding the application of the limitation of the maximum ratio between the variable components of remuneration and the fixed remuneration to 100% (if applicable, up to 200% with shareholders ’ approval)²³ , the possibility to apply the notional discount rate²⁴ , any restrictions regarding the use of instruments²⁵ , the application of waivers under Article 94(3) of Directive 2013/36/EU and the national discretion in Article 109(6) of this Directive to include subsidiaries that are subject to a specific remuneration framework in the scope of the consolidated application of Articles 92, 94 and 95 of that Directive.

79. When applying the requirements on a consolidated basis, the remuneration requirements applicable in the Member State where the consolidating institution is located apply, including to identified staff that have a material impact on the group ’ s risk profile, even if the implementation of the requirements set out by Article 94 of Directive 2013/36/EU by the Member State where the consolidating institution is located is stricter. Likewise, subsidiaries subject to Directive 2013/36/EU must comply for their staff with the applicable requirements under national law, even if they are stricter than the requirements on a consolidated basis.

80.Staff seconded from a parent undertaking in a third country to an EU subsidiary that is an institution or a branch who, were they employed directly by the EU institution or branch, would fall under the scope of identified staff of that EU institution or branch, are identified staff. Such seconded staff should be subject to the provisions of Articles 92, 93 and 94 of Directive 2013/36/EU as they are implemented in the Member State where the EU institution or branch is established and applicable Regulatory Technical Standards. For the purposes of short-term secondments, for example where a person is only residing in a Member State for a few weeks to carry out project work, that person should be subject to such provisions only if the person would be identifiable under the RTS on identified staff, taking into account the remuneration awarded for the relevant time period and the role and responsibilities during the secondment.

81.Short-term contracts or secondments must not be used as a means of circumventing the remuneration requirements of Directive 2013/36/EU and any related standards or guidelines.

82.Regarding subsidiaries established in third countries that are included in the application of Articles 92, 94 and 95 of Directive 2013/36/EU on a consolidated basis, the group-wide remuneration policy should set the maximum level of the ratio between the variable component of remuneration and the fixed component not higher than 100% (if applicable, up to 200% with shareholders’ approval at the group level), specify whether the notional discount rate is applied and ensure that, for the pay out of variable remuneration, instruments are used in line with these guidelines and Commission Delegated Regulation (EU) No 527/2014²⁶ , unless the application of those requirements is unlawful in that third country. The remuneration policy of such third country subsidiaries should be consistent with the group-wide remuneration policy and comply with the requirements of Articles 92(2), 93 and 94 of Directive 2013/36/EU at least for those staff whose professional activities have a material impact on the group’s risk profile.

83.Competent authorities should ensure that branches in a Member State of credit institutions authorised in a third country are subject to the same requirements as applicable to institutions within Member States. Where these branches want to implement a ratio between the variable and fixed components of remuneration higher than 100%, they should demonstrate to the competent authority that the shareholders of the institution in the third country have approved the higher ratio.

84.The remuneration requirements of Directive 2013/36/EU and the provisions of these guidelines apply to institutions in Member States independent of the fact that they may be subsidiaries of a parent institution in a third country. Where an EU subsidiary of a parent institution in a third country is a consolidating institution, the scope of prudential consolidation does not include the level of the parent institution located in a third country and other direct subsidiaries of that parent institution. The consolidating institution should ensure that the group-wide remuneration policy of the parent institution in a third country is taken into consideration within its own remuneration policies as far as this is not contrary to the requirements set out under relevant EU or national law, including these guidelines.

²³ Article 94(1)(g)(i) and (ii) of Directive 2013/36/EU.

²⁴ Article 94(1)(g)(iii) of Directive 2013/36/EU.

²⁵ Article 94(1)(l) of Directive 2013/36/EU.

²⁶ Commission Delegated Regulation (EU) No 527/2014 of 12 March 2014 supplementing Directive (EU) No 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying the classes of instruments that adequately reflect the credit quality of an institution as a going concern and are appropriate to be used for the purposes of variable remuneration (OJ L 148, 20.5.2014, p. 21). It is published at: http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:JOL_2014_148_R_0006.

1. Översikt

1.1 Referenser

1.2 Identifierade krav

1.3 Relaterade standarder

2. Identifierade krav

3. Relaterade standarder

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