The rule in plain words
Total variable remuneration of all high earners (in EUR) cannot be less than these four added up:
- Guaranteed variable remuneration awards – total amount
- Severance payments awarded during the financial year - total amount
- Total amount of contributions to discretionary pension benefits in year N (in EUR)
- Total amount of variable remuneration awarded for multi- year periods under programmes which are not revolved annually (in EUR)
All the values are in the all high earners in investment firms that are subject to Articles 25 and 34 of Directive 2019/2034 column (0090) of R 04.00.a.
EBA writes it out nine times. These words are for the first; the others are the same rule on other cells.
The template it checks
Information on the remuneration of high earners (I) (R 04.00.a)
Rows
- 0100Total variable remuneration of all high earners (in EUR)
- 0182Guaranteed variable remuneration awards – Total amount
- 0200Severance payments awarded during the financial year - Total amount
- 0210Total amount of contributions to discretionary pension benefits in year N (in EUR)
- 0220Total amount of variable remuneration awarded for multi- year periods under programmes which are not revolved annually (in EUR)
Column
- 0090All high earners in investment firms that are subject to Article 25 and 34 of Directive 2019/2034
Show the rule as writtenShowHide
EBA's formula, as written out for the first of its checks. Cells are written as {template, row, column, sheet}.
{R_04.00.a,r0100,c0090,} >= {R_04.00.a,r0182,c0090,} + {R_04.00.a,r0200,c0090,} + {R_04.00.a,r0210,c0090,} + {R_04.00.a,r0220,c0090,}And 8 more, the same formula for the other cells it covers.
Other rules on R 04.00.a
- Total variable remuneration of all high earners cannot be less than the sum of five rows (v12117_m)Warning
- Number of high earners in subsidiaries that are subject to a specific remuneration framework under other union cannot be more than total number of high earners (v12110_m)Warning
- Shares or equivalent ownership interests plus share-linked instruments or equivalent non-cash instruments plus other instruments cannot be less than 0.5 times a calculation over five rows (v12121_m)Warning
- Total number of high earners must equal the sum of its three parts (row 0040, v12108_m)Warning
- None of the 222 values it checks in information on the remuneration of high earners (I) can be negative (v12132_s)Warning
- Total number of high earners must equal the sum of its three parts (row 0040, v12186_m)Warning
- Identified staff cannot be more than total number of high earners (row 0050, v12187_m)Warning
- Identified staff cannot be more than total number of high earners (row 0050, v12188_m)Warning
Every REM high earners rule, by template
Checks like this one, run at the point of submission, are the first step to real-time supervision.