The rule in plain words
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.
EBA checks it for four columns: MB supervisory function, MB management function, other senior management and other identified staff. That makes four 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.
MB Management function: If Severance payments awarded in year N – number of beneficiaries is reported, then Highest amount of severance payments awarded in year N to a single person is reported
What to do if your filing fails it
- 01Open the template below and find the cells the rule reads.
- 02The check applies only when its first part holds in your file. When it does, the second part must hold too: fix the second part, or correct the first.
- 03It runs only when your filing indicators mark R 02.01 as reported.
- 04This 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
Information on remuneration of identified staff in investment firms (R 02.01)
Rows
- 0360Severance payments awarded in year N – number of beneficiaries
- 0370Highest amount of severance payments awarded in year N to a single person
Columns
- 0010MB Supervisory function
- 0020MB Management function
- 0090Other senior management
- 0100Other identified 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}.
if ((not(empty({R_02.01,r0360,c0020,})))) then ((not(empty({R_02.01,r0370,c0020,})))) else TrueThe next three:
if ((not(empty({R_02.01,r0360,c0010,})))) then ((not(empty({R_02.01,r0370,c0010,})))) else Trueif ((not(empty({R_02.01,r0360,c0090,})))) then ((not(empty({R_02.01,r0370,c0090,})))) else Trueif ((not(empty({R_02.01,r0360,c0100,})))) then ((not(empty({R_02.01,r0370,c0100,})))) else TrueOther rules on R 02.01
- Severance payments awarded in year N: if total amount is reported, number of beneficiaries must be reported (v12613_m)Warning
- Highest amount of severance payments awarded in year N to a single person cannot be more than severance payments awarded in year N, total amount (v12615_m)Warning
- Severance payments awarded in year N: if number of beneficiaries is reported, total amount must be reported (v12612_m)Warning
- Guaranteed variable remuneration in year N: if total number of beneficiaries is reported, total amount must be reported (v12611_m)Warning
- Guaranteed variable remuneration in year N: if total amount is reported, total number of beneficiaries must be reported (v12610_m)Warning
- Number of identified staff (headcount) must equal members (headcount) (row 0010, v12618_m)Warning
- Variable remuneration, total must equal the sum of its four parts (v12619_m)Warning
- 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
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.