The rule in plain words
Variable remuneration (EUR) cannot be more than 2 times fixed remuneration (EUR).
EBA checks it for nine columns, from MB supervisory function (0010) to all other staff (0080). That makes nine checks. A failure names the one that failed.
How the Line4 Check report words itShowHide
The first of its checks, word for word as the report shows it when it fails. The others read the same, with their own column, row or sheet.
Corporate functions: Of which: variable remuneration (EUR) <= 2 × Of which: fixed remuneration (EUR)
What to do if your filing fails it
- 01Open the template below and find the cells the rule reads.
- 02Work out both sides from your file, as the rule in plain words sets out, and compare them.
- 03EBA allows a small rounding difference, worked out from the decimals each value is reported with.
- 04It runs only when your filing indicators mark R 01.00 as reported.
- 05This is a warning. It does not stop the filing on its own, but your authority may ask you to explain it.
The cells it reads
General information and information on remuneration of all staff (R 01.00)
Rows
- 0050Of which: variable remuneration (EUR)
- 0060Of which: fixed remuneration (EUR)
Columns
- 0010MB Supervisory function
- 0020MB Management function
- 0030Investment banking
- 0040Retail banking
- 0050Asset management
- 0060Corporate functions
- 0070Independent control functions
- 0071All staff in subsidiaries subject to a specific remuneration framework
- 0080All other staff
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_01.00,r0050,c0060,} <= 2 * {R_01.00,r0060,c0060,}The next five:
{R_01.00,r0050,c0050,} <= 2 * {R_01.00,r0060,c0050,}{R_01.00,r0050,c0080,} <= 2 * {R_01.00,r0060,c0080,}{R_01.00,r0050,c0010,} <= 2 * {R_01.00,r0060,c0010,}{R_01.00,r0050,c0071,} <= 2 * {R_01.00,r0060,c0071,}{R_01.00,r0050,c0040,} <= 2 * {R_01.00,r0060,c0040,}And 3 more, the same formula for the other cells it covers.
Other rules on R 01.00
- A check on general information and information on remuneration of all staff, and additional information on remuneration of identified staff (R 02.00, v12457_m)Not run yet
- A check on general information and information on remuneration of all staff, and additional information on remuneration of identified staff (R 02.00, v12456_m)Not run yet
- The sum of six columns cannot be less than total amount of variable remuneration awarded for multi-year periods under programmes which are not revolved annually, other identified staff (v12455_m)Warning
- The sum of six columns cannot be less than total amount of variable remuneration awarded for multi-year periods under programmes which are not revolved annually, other senior management (v12454_m)Warning
- Variable remuneration cannot be less than total amount of variable remuneration awarded for multi-year periods under programmes which are not revolved annually (row 0050, v12453_m)Warning
- Variable remuneration cannot be less than total amount of variable remuneration awarded for multi-year periods under programmes which are not revolved annually (row 0050, v12452_m)Warning
- The sum of six columns cannot be less than total amount of contributions to discretionary pension benefits in year N (included in other forms of variable remuneration), other identified staff (v12451_m)Warning
- The sum of six columns cannot be less than total amount of contributions to discretionary pension benefits in year N (included in other forms of variable remuneration), other senior management (v12450_m)Warning
Every REM benchmarking rule, by template
Checks like this one, run at the point of submission, are the first step to real-time supervision.