The rule in plain words
For investment firms that do not benefit from the derogation under Article 32(4)(a) at an institutional level Thereof: fixed remuneration o cannot be more than total fixed remuneration (in EUR) in year N.
All the values are in the MB management function column (0020) of R 02.01.
EBA writes it out four times. These words are for the first; the others are the same rule on other cells.
The template it checks
Information on remuneration of identified staff in investment firms (R 02.01)
Rows
- 0030Total fixed remuneration (in EUR) in year N
- 0410For investment firms that do not benefit from the derogation under Article 32(4)(a) at an institutional level Thereof: fixed remuneration o
Column
- 0020MB Management function
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_02.01,r0410,c0020,} <= {R_02.01,r0030,c0020,}And 3 more, the same formula for the other cells it covers.
Other rules on R 02.01
- For investment firms that do not benefit from the derogation under Article 32(4)(a) at an institutional level Thereof: variable remuneratio cannot be more than total variable remuneration in year N (v12606_m)Warning
- Severance payments awarded in year N, total amount cannot be more than total variable remuneration in year N (v12605_m)Warning
- Total amount of contributions to discretionary pension benefits in year N (included in other forms of variable remuneration) cannot be more than total variable remuneration in year N (v12604_m)Warning
- Guaranteed variable remuneration in year N: if total amount is reported, total number of beneficiaries must be reported (v12610_m)Warning
- Guaranteed variable remuneration in year N: if total number of beneficiaries is reported, total amount must be reported (v12611_m)Warning
- Severance payments awarded in year N: if number of beneficiaries is reported, total amount must be reported (v12612_m)Warning
- Severance payments awarded in year N: if total amount is reported, number of beneficiaries must be reported (v12613_m)Warning
- If severance payments awarded in year N, number of beneficiaries is reported, highest amount of severance payments awarded in year N to a single person must be reported (v12614_m)Warning
Every REM benchmarking (IF) rule, by template
Checks like this one, run at the point of submission, are the first step to real-time supervision.