LegalizeCommission Implementing Regulation (EU) 2021/637 of 15 March 2021 laying down implementing technical standards with regard to public disclosures by institutions of the information referred to in Titles II and III of Part Eight of Regulation (EU) No 575/2013 of the European Parliament and of the Council and repealing Commission Implementing Regulation (EU) No 1423/2013, Commission Delegated Regulation (EU) 2015/1555, Commission Implementing Regulation (EU) 2016/200 and Commission Delegated Regulation (EU) 2017/2295 (Text with EEA relevance)
| Legal references and instructions | Legal references and instructions |
| Row number | Explanation |
| EU (a) | When disclosing information referred to in point (c) of Article 455 CRR on the extent and methodologies for compliance with the requirements of Article 104 CRR, institutions shall include: — a description of the procedures and systems implemented for the assurance of tradability of the positions included in the trading book to comply with the requirements of Article 104 CRR; — a description of the methodology used to ensure that the policies and procedures implemented for the overall management of the trading book are appropriate. |
| EU (b) | When disclosing information referred to in point (c) of Article 455 CRR on the extent and methodologies for compliance with the requirements of Article 105 CRR, institutions shall include: — a description of the valuation methodologies, including an explanation of how far mark-to-market and mark-to-model methodologies are used; — description of the independent price verification process; — procedures for valuation adjustments or reserves (including a description of the process and the methodology for valuing trading positions by type of instrument). |
| (A) | Institutions using VaR models and SVaR models, as defined in Article 365 CRR |
| (a) | When disclosing information referred to in point (a)(i) of Article 455 and point (b) of Article 455 CRR, institutions shall include a description of activities and risks covered by the VaR and SVaR models, specifying how they are distributed in portfolios/sub-portfolios for which the competent authority has granted permission. |
| (b) | When disclosing referred to in point (b) of Article 455 CRR, institutions shall include: — a description of the scope of application of the VaR and SVaR models for which the competent authority has granted permission; — when relevant, information on which entities in the group use these models and how the models represent all the models used at the group level, as well as the percentage of own funds requirements covered by the models /or if the same models of VaR/SVaR are used for all entities with market risk exposure. |
| Disclosures of information referred to in point (a)(i) of Article 455 CRR on the characteristics of the model used shall include: | |
| (c) | A general description of regulatory VaR and SVaR models |
| (d) | A discussion of the main differences, if any, between the models used for management purposes and the model used for regulatory purposes (10 day 99%) for VaR and SVaR models |
| (e) | For VaR models: |
| (i) | The data updating frequency; |
| (ii) | The length of the data period that is used to calibrate the model. A description of the weighting scheme that is used (if any); |
| (iii) | A description on how the institutions determines the 10-day holding period (for example, does it scale up a 1-day VaR by the square root of 10, or does it directly model the 10-day VaR?); |
| (iv) | A description of the aggregation approach, which is the method for aggregating the specific and general risk (i.e. do the institutions calculate the specific charge as a stand-alone charge by using a different method than the one used to calculate the general risk or do the institutions use a single model that diversifies general and specific risk?); |
| (v) | Valuation approach (full revaluation or use of approximations); |
| (vi) | Whether, when simulating potential movements in risk factors, absolute or relative returns (or a mixed approach) are used (i.e. proportional change in prices or rates or absolute change in prices or rates). |
| (f) | For SVaR models: |
| (i) | A description on how the 10-day holding period is determined. For example, does the institution scale up a 1-day VaR by the square root of 10, or does it directly model the 10-day VaR? If the approach is the same as for the VaR models, the institutions may confirm this and refer to disclosure (e) (iii) above; |
| (ii) | A description of the stress period chosen by the institution and the rationale for this choice; |
| (iii) | A description of the valuation approach (full revaluation or use of approximations). |
| (g) | When disclosing information referred to in point (a)(iii) of Article 455 CRR, institutions shall include a description of stress testing applied to the modelling parameters consistent with information disclosed under (A)(a) above (main scenarios developed to capture the characteristics of the portfolios to which the VaR and SVaR models apply at the group level). |
| (h) | When disclosing information referred to in point (a)(iv) of Article 455 CRR, institutions shall disclose a description of the approach used for backtesting/validating the accuracy and internal consistency of data and parameters used for the internal models and modelling processes. |
| (B) | Institutions using internal models to measure the own funds requirements for the incremental default and migration risk (IRC) in accordance with Sections 3 and 4 of Chapter 5 of Title IV of Part Three CRR |
| (a) | When disclosing information referred to in point (a)(ii) of Article 455 and with point (b) of Article 455 CRR, institutions shall include a description of risks covered by the IRC models, specifying how they are distributed in portfolios/sub-portfolios for which the competent authority has granted permission. |
| (b) | Information referred to in point (b) of Article 455 CRR shall include a description of the scope of application of the IRC model for which the competent authority has granted permission, and shall be complemented by information on which entities in the group use these models and how the models represent all the models used at the group level, including the percentage of own funds requirements covered by the models or if the same models of IRC is used for all entities with market risk exposure. |
| Information referred to in point (a)(ii) of Article 455 CRR on the characteristics of the IRC models used shall include: | |
| (c) | A general description of the methodology used for internal models for incremental default and migration risk, including: |
| (i) | Information about the overall modelling approach (notably, the use of spread-based models or transition matrix-based models); |
| (ii) | Information on the calibration of the transition matrix; |
| (iii) | Information about correlation assumptions; |
| (d) | Institutions shall include a description of the approach used to determine liquidity horizons; |
| (e) | Institutions shall include a description of the methodology used to achieve a capital assessment that is consistent with the required soundness standard; |
| (f) | Institutions shall include a description of the approach used in the validation of the models. |
| (g) | Information referred to in point (a)(iii) of Article 455 CRR shall include a description of the stress testing applied to the modelling parameters consistent with information disclosed under (B)(a) above (main scenarios developed to capture the characteristics of the portfolios to which the IRC models apply at the group level). |
| (h) | Information referred to in point (a)(iv) of Article 455 CRR shall include a description of the approach used for backtesting/validating the accuracy and internal consistency of data and parameters used for the IRC internal models and modelling processes |
| (C) | Institutions using internal models to measure own funds requirements for correlation trading portfolio (comprehensive risk measure) in accordance with Section 5 of Chapter 5 of Title IV of Part Three CRR |
| (a) | When disclosing information referred to in point (a)(ii) of Article 455 and point (b) of Article 455 CRR, institutions shall include a description of risks covered by the comprehensive risk measure models, specifying how they are distributed in portfolios/sub-portfolios for which the competent authority has granted permission. |
| (b) | Information referred to in point (b) of Article 455 CRR shall include a description of the scope of application of the comprehensive risk measure models for which the competent authority has granted permission. It shall be complemented by information on which entities in the group use these models and how the models represent all the models used at the group level, including the percentage of own funds requirements covered by the models or if the same models of IRC is used for all entities with market risk exposure. |
| Information referred to in point (a)(ii) of Article 455 CRR on the characteristics of the comprehensive risk measure models used shall include: | |
| (c) | A general description of the methodology used for correlation trading, including: |
| (i) | Information about the overall modelling approach (choice of model correlation between default/migrations and spread: (i) separate but correlated stochastic processes driving migration/default and spread movement; (ii) spread changes driving migration/default; or (iii) default/migrations driving spread changes); |
| (ii) | Information used to calibrate the parameters of the base correlation: LGD pricing of the tranches (constant or stochastic); |
| (iii) | Information on the choice of whether to age positions (profits and losses based on the simulated market movement in the model calculated based on the time to expiry of each position at the end of the 1-year capital horizon or using their time to expiry at the calculation date); |
| (d) | Institutions shall include a description of the approach used to determine liquidity horizons. |
| (e) | Institutions shall include a description of the methodology used to achieve a capital assessment that is consistent with the required soundness standard. |
| (f) | Institutions shall include a description of the approach used in the validation of the models. |
| (g) | Information referred to in point (a)(iii) of Article 455 CRR shall include a description of stress testing applied to the modelling parameters (main scenarios developed to capture the characteristics of the portfolios to which the comprehensive risk measure models apply at the group level). |
| (h) | Information referred to in point (a)(iv) of Article 455 CRR shall include a description of the approach used for backtesting or validating the accuracy and internal consistency of data and parameters used for the comprehensive risk measure internal models and modelling processes. |
| (i) | Institutions shall complement the disclosed information regarding the internal models for the incremental default and migration risk and for correlation trading portfolios with the information referred to in point (f) of Article 455 on the weighted average liquidity horizon for sub-portfolios, coherent with the description provided under rows (B) (a) and (d) and (C) (a) and (d)) of table EU MRB. |
Template EU MR2-A - Market risk under the internal Model Approach (IMA): fixed format
- 5.Institutions shall disclose the information referred to point (e) of Article 455 CRR by following the instructions provided below in this Annex to complete template EU MR2-A which is presented in Annex XXIX to this Implementing Regulation.
| Legal references and instructions | Legal references and instructions |
| Row number | Explanation |
| 1 | VaR (higher of values a and b) |
| a | Previous day’s VaR (VaRt-1) Previous day’s value at-risk number (VaRt-1) calculated in accordance with Article 365(1) CRR |
| b | Multiplication factor (mc) x average of previous 60 working days (VaRavg) Average of the daily value at-risk numbers calculated in accordance with Article 365(1) CRR, on each of the preceding 60 business days (VaRavg) x multiplied by the multiplication factor (mc) in accordance with Article 366 CRR |
| 2 | SVaR (higher of values a and b) |
| a | Latest available SVaR (SVaRt-1)) Latest available stressed-value-at-risk number (sVaRt-1) calculated in accordance with Article 365(2) CRR |
| b | Multiplication factor (ms) x average of previous 60 working days (sVaRavg) Average of the stressed value-at-risk numbers calculated in the manner and frequency specified in Article 365(2) CRR during the preceding sixty business days (sVaRavg), multiplied by the multiplication factor (ms) in accordance with Article 366 CRR |
| 3 | IRC (higher of values a and b) |
| a | Most recent IRC measure Most recent risk number for the incremental default and migration risk calculated in accordance with Section 3 of Chapter 5 of Title IV of Part Three CRR |
| b | 12 weeks average IRC measure Average of risk number for the incremental default and migration risk calculated in accordance with Section 3 of Chapter 5 of Title IV of Part Three CRR over the preceding 12 weeks |
| 4 | Comprehensive risk measure (higher of values a, b and c) |
| a | Most recent risk measure of comprehensive risk measure Most recent risk number for the correlation trading portfolio calculated in accordance with Section 5 of Chapter 5 of Title IV of Part Three CRR |
| b | 12 weeks average of comprehensive risk measure Average of the risk number for the correlation trading portfolio calculated in accordance with Section 5 of Chapter 5 of Title IV of Part Three CRR, over the preceding 12-weeks |
| c | Comprehensive risk measure – Floor 8 % of the own funds requirement that would, at the time of calculation of the most recent risk number referred to in row (a) of this template, be calculated in accordance with Article 338 (4) CRR, for all those positions incorporated into the internal model for the correlation trading portfolio |
| 5 | Other Other refers to additional own funds required by supervisors for institutions using the internal model approach for market risk (e.g. additional capital according to Article 101 of Directive 2013/36/UE). |
| 6 | Total (1+2+3+ 4+5) |
| Column letter | Explanation |
| a | RWEAs Disclosure of risk weighted exposures referred to in point (d) of Article 438 CRR, computed as the value in column b multiplied by 12.5 in accordance with point (b) of Article 92(4) CRR. |
| b | Own funds requirements Own funds requirements for market risk as determined in Chapter 5 of Title IV of Part Three CRR in accordance with instructions in rows 1 to 4 above. |
Template EU MR2-B - RWEA flow statements of market risk exposures under the IMA: fixed format
- 6.Institutions shall disclose the information referred to in point (h) of Article 438 CRR by following the instructions provided below in this Annex to complete template EU MR2-B which is presented in Annex XXIX to this Implementing Regulation.
- 7.Institutions shall disclose the flows of RWEA as the changes between the risk-weighted exposure amounts at the end of the disclosure reference period (as specified below in row 8) and the risk-weighted exposure amounts at end of the prior disclosure reference period (as specified below in row 1; in the case of quaterly disclosures, end-of-quarter prior to the quarter of the disclosure reference period). Institutions may complement their Pillar 3 disclosures by disclosing the same information for the three previous quarters.
- 8.Institutions shall explain in the accompanying narrative to the template the figures disclosed in row 8 of this template, i.e. any other drivers that contribute significantly to RWEA variations.
| Legal references and instructions | Legal references and instructions |
| Row number | Explanation |
| 1 | RWEAs at previous period end Risk weighted exposure amounts at the end of the previous period derived from the sum of own funds requirements in accordance with Article 364 CRR with the exception of point (a) of Article 364 (2) CRR, and any additional own funds required by supervisors for institutions using the internal model approach for market risk, multiplied by 12.5 in accordance with point (b) of Article 92(4) CRR |
| 2 | Movement in risk levels Changes due to position changes, other than those driven by regulatory policy changes |
| 3 | Model changes Significant updates to the model to reflect recent experience (e.g. recalibration), as well as significant changes in model scope. If more than one model update has taken place, additional rows could be necessary. |
| 4 | Methodology and policy Methodology changes to the calculations driven by regulatory policy changes |
| 5 | Acquisitions and disposals Modifications due to acquisition or disposal of business/product lines or entities |
| 6 | Foreign exchange movements Changes arising from foreign currency translation movements |
| 7 | Other This category shall be used to capture changes that cannot be attributed to any category of drivers included in rows 2 to 6 of this template, and the explanations regarding the drivers of these changes must be provided in the accompanying narrative. |
| 8 | RWEAs at the end of the disclosure period Risk weighted exposure amounts at the end of the period derived from the sum of own funds requirements in accordance with Article 364 CRR with the exception of point (a) of Article 364 (2) CRR, and any additional own funds required by supervisors for institutions using the internal model approach for market risk, multiplied by 12.5 in accordance with point (b) of Article 92(4) CRR |
| 1a/1b/ 8a/8b | Rows 1a/1b and 8a/8b of this template shall be used when the RWEA/own funds requirement for any of the columns a to d of this template is the 60-day average (for VaR and SVaR) or the 12-week average measure or the floor measure (for IRC and Comprehensive risk measure) and not the RWEA/own funds requirement at the end of the period (previous or disclosure) in accordance with points (a)(i) and (b)(i) of Article 364 (1), with point (b)(i) of Article 364(2) and with point (a) of Article 364(3) CRR. The amount in additional rows 1a and 8b shall be the difference between the final derived RWEA on average measures, as disclosed in rows 1 or 8 of this template, and the measures derived directly from the models in rows 1b/8a of this template. In these cases, additional rows for regulatory adjustment (1a and 8b of this template) ensure that the institution is able to provide the source of changes in RWEA/own funds requirement on the basis of the last RWEA/own funds requirement measure at the end of the period (previous or disclosure), in rows 1b and 8a of this template. In this case, rows 2, 3, 4, 5, 6, 7 of this template reconcile the value in row 1b and 8a [^E0050] of this template. |
| Column letter | Explanation |
| a | VaR Key drivers of changes over the period in accordance with row (2) to (7) of this template (on the basis of a reasonable estimation), of the value at-risk RWEAs derived from the own funds requirements in accordance with point (a) of Article 364(1) CRR. |
| b | SVaR Key drivers of changes over the period in accordance with row (2) to (7) of this template (on the basis of a reasonable estimation), of the stressed value at-risk RWEAs derived from the own funds requirements in accordance with point (b) of Article 364 (1) CRR, and any additional own funds required by supervisors |
| c | IRC Key drivers of changes over the period in accordance with row (2) to (7) of this template (on the basis of a reasonable estimation), of the incremental default and migration RWEAs derived from the own funds requirements in accordance with point (b) of Article 364(2) CRR, and any additional own funds required by supervisors |
| d | Comprehensive risk measure Key drivers of changes over the period in accordance with row (2) to (7) of this template (on the basis of a reasonable estimation), of the correlation trading portfolio RWEAs derived from the own funds requirements in accordance with Article 364(3) CRR, and any additional own funds required by supervisors |
| e | Other Key drivers of changes over the period in accordance with row (2) to (7) of this template of RWEAs on the basis of model approaches not reported in columns (a) to (d) |
| f | Total RWEAs (a + b + c + d + e) |
| g | Total own funds requirements (f × 8%) |
See the illustration in Basel Committee on Banking Supervision of the Bank for International Settlements, DIS Disclosure requirements DIS 99 Worked examples, December 2019.
Template EU MR3 - IMA values for trading portfolios: fixed format
- 9.Institutions shall disclose the information referred to point (d) of Article 455 CRR by following the instructions provided below in this Annex to complete template EU MR3 which is presented in Annex XXIX to this Implementing Regulation.
| Legal references and instructions | Legal references and instructions |
| Row number | Explanation |
| VaR (10 day 99%) Value at-risk measure in accordance with Article 365(1) CRR The amounts shall not include additional own fund requirements on supervisor’s decision (related to the multiplier, for instance). | |
| 1 to 4 | Highest/Lowest/mean of daily value at-risk measures over the period and period end daily value at-risk measure. |
| SVaR (10 day 99%) Stressed Value at-risk measure in accordance with Article 365(2) CRR The amounts shall not include additional own fund requirements on supervisor’s decision (multiplier). | |
| 5 to 8 | Highest/Lowest/mean of stressed daily value at-risk measure over the period and period end daily value at-risk measure. |
| IRC (99.9%) Incremental default and migration risk value in accordance with Section 3 of Chapter 5 of Title IV of Part Three CRR The amounts shall not include additional own fund requirements on supervisor’s decision (multiplier). | |
| 9 to 12 | Highest/lowest/mean of IRC measures over the period and period end daily value at-risk measure |
| Comprehensive risk measure (99.9%) Correlation trading portfolios value in accordance with Section 5 of Chapter 5 of Title IV of Part Three CRR | |
| 13 to 16 | Highest/lowest/mean of correlation trading portfolios measures over the period and period end daily value at-risk measure |
| Column letter | Explanation |
| a | Highest/lowest/mean values over the disclosure period and end of period values corresponding to rows (1) to (16) of this template |
Template EU MR4 - Comparison of VaR estimates with gains/losses: Flexible template
- 10.With respect to information referred to in point (g) of Article 455 CRR institutions shall disclose a chart which is presented in Annex XXIX to this Implementing Regulation, including the information indicated in this table.
| Legal references and instructions | Legal references and instructions |
| Explanation | |
| Information referred to in point (g) of Article 455 CRR shall include the value of the risk measure used for regulatory purposes in accordance with Article 365(1) CRR, calibrated to a 1-day holding period to compare with the 99 % confidence level with institution’s trading outcomes | |
| Institutions shall present an analysis of ‘outliers’ (backtesting exceptions as per Article 366 CRR) in backtested results, specifying the dates and the corresponding excess (VaR-P&L). The analysis should at least specify the key drivers of the exceptions. Institutions shall disclose similar comparisons for actual P&L and hypothetical P&L (i.e. on the basis of hypothetical changes in portfolio values that would occur if end-of-day positions remain unchanged) as per Article 366 CRR. Institutions shall complement this information with information about actual gains/losses, and especially a clarification whether they include reserves and, if not, how reserves are integrated into the backtesting process. |
ANNEX XXXI
Table EU ORA - Qualitative information on operational risk
Free format text boxes for disclosure of qualitative information
| Legal basis | Row number | Qualitative information - Free format |
|---|---|---|
| Points (a), (b), (c) and(d) of Article 435(1) CRR | (a) | Disclosure of the risk management objectives and policies |
| Article 446 CRR | (b) | Disclosure of the approaches for the assessment of minimum own funds requirements |
| Article 446 CRR | (c) | Description of the AMA methodology approach used (if applicable) |
| Article 454 CRRR | (d) | Disclose the use of insurance for risk mitigation in the Advanced Measurement Approach (if applicable) |
Template EU OR1 - Operational risk own funds requirements and risk-weighted exposure amounts
| Banking activities | Banking activities | a | b | c | d | e |
|---|---|---|---|---|---|---|
| Banking activities | Banking activities | Relevant indicator | Relevant indicator | Relevant indicator | Own funds requirements | Risk exposure amount |
| Banking activities | Banking activities | Year-3 | Year-2 | Last year | Own funds requirements | Risk exposure amount |
| 1 | Banking activities subject to basic indicator approach (BIA) | |||||
| 2 | Banking activities subject to standardised (TSA) / alternative standardised (ASA) approaches | |||||
| 3 | Subject to TSA: | |||||
| 4 | Subject to ASA: | |||||
| 5 | Banking activities subject to advanced measurement approaches AMA |
ANNEX XXXII
Instructions for operational risk disclosure templates
Table EU ORA - Qualitative information on operational risk. Flexible table
- 1.Institutions shall disclose the information included in this table in application of Articles 435(1), 446 and 454 of Regulation (EU) 575/2013 ([^E0051]) (‘CRR’).
- 2.Institutions shall follow the instructions provided below in this Annex to complete the Operational Risk disclosure table EU ORA as presented in Annex XXXI to this Implementing Regulation.
| Legal references and instructions | Legal references and instructions |
| Row number | Explanation |
| (a) | Disclosure of the risk management objectives and policies In accordance with Article 435(1) CRR, institutions shall disclose their risk management objectives and policies for operational risk, including: — strategies and processes; — structure and organisation of risk management function for operational risk; — risk measurements and control; — operational risk reporting; — policies for hedging and mitigating operational risk. |
| (b) | Disclosure of the approaches for the assessment of minimum own fund requirements Institutions shall provide a description of the methods used for calculating the own funds requirements for operational risk and the methods for identifying, assessing and managing operational risk. In case of partial use of methodologies, institutions shall disclose the scope and coverage of the different methodologies used. |
| (c) | Description of the AMA methodology approach used (if applicable) Institutions that disclose the information on the operational risk in accordance with Article 312(2) CRR shall disclose a description of the methodology used, including a description of standards on the external and internal data referred to in Articles 322(3) and (4) CRR. |
| (d) | Disclose the use of insurance for risk mitigation in the Advanced Measurement Approach (if applicable) Institutions should provide information on the use of insurances and other risk transfer mechanism for operational risk mitigation when using Advance measurement approaches in accordance with Article 454 CRR. |
Template EU OR1 - Operational risk own funds requirements and risk-weighted exposure amounts. Fixed template
- 3.Institutions shall disclose the information referred to in Articles 446 and 454 CRR by following the instructions provided below in this Annex to complete the Operational Risk disclosure template EU OR1 as presented in Annex XXXI to this Implementing Regulation. This template provides information on the calculation of own funds requirements in accordance with Articles 312 to 324 (for Operational Risk under the Basic Indicator Approach (BIA), the Standardised Approach (TSA), the Alternative Standardised Approach (ASA) and the Advanced Measurement Approaches (AMA)) of Title III of Part Three CRR.
- 4.Institutions using the BIA, TSA and/or ASA shall specify in the narrative accompanying the template if the information at financial year end that they are using for the calculation of own funds requirements is: a) based on audited figures, or: b) in case that they are not available, it is based on business estimates. In the latter case, institutions shall specify any exceptional circumstance that led to changes in these figures (e.g. recent acquisitions or disposals of entities or activities).
| Instructions for completing the disclosure template EU OR1 | Instructions for completing the disclosure template EU OR1 |
| Column | Explanation |
| a, b, c | Relevant Indicator The term ‘relevant indicator’ refers to ‘the sum of the elements’ at the end of the financial year as defined in Table 1 (for institutions using BIA) included in Article 316(1) CRR. For institutions using TSA or ASA the ‘relevant indicator’ at the end of financial year as defined in Articles 317 to 319 CRR. Institutions using the relevant indicator to calculate the own funds requirements for operational risk (BIA, TSA and ASA) shall disclose the relevant indicator for the respective years in columns a to c of this template. Moreover, in the case of a combined use of different approaches as referred in Article 314 CRR, institutions also disclose the relevant indicator for the activities subject to AMA. AMA banks shall also disclose the relevant indicator for the activities subject to AMA. If the institution has less than 3 years of data on ‘relevant indicator’ available, the available historical data (audited figures) shall be assigned by priority to the corresponding columns in the template. If, for instance, historical data for only one year is available, it shall be disclosed in column c of this template. If it seems reasonable, the forward looking estimates shall then be included in column b (estimate of next year) and column a (estimate of year +2) of this template. Furthermore if there are no historical data on ‘relevant indicator’ available the institution may disclose forward-looking business estimates used for own funds requirements computation. |
| d | Own fund requirements The own fund requirements calculated in accordance with the approach used, in accordance with Articles 312 to 324 CRR. The resulting amount is disclosed in column d of this template. |
| e | Risk exposure amount Point (e) of Article 92(3) and Article 92(4) CRR. Own funds requirements in column d of this template multiplied by 12.5. |
| Row | Explanation |
| 1 | Banking activities subject to Basic indicator approach (BIA) This row shall present the amounts corresponding to activities subject to the BIA to calculate the own funds requirements for operational risk (Articles 315 and 316 CRR). |
| 2 | Banking activities subject to Standardised (TSA) / Alternative Standardised (ASA) approaches This row shall present the own funds requirements calculated in accordance with the TSA and ASA (Articles 317 to 320 CRR). |
| 3 | Subject to TSA In the case of using the TSA, relevant indicator for each respective year shall include all the business lines as defined in table 2, included in Article 317 CRR. |
| 4 | Subject to ASA Institutions using the ASA (Article 319 CRR) shall disclose the relevant indicator for the respective years. |
| 5 | Banking activities subject to Advanced measurement approaches AMA The relevant data for AMA institutions (Article 312(2) and Articles 321 to 323 CRR) shall be disclosed. In the case of combined use of different approaches in accordance with Article 314 CRR, the relevant indicator for activities subject to AMA shall also be disclosed. AMA banks shall also disclose the relevant indicator for the activities subject to AMA. |
ANNEX XXXIII
Table EU REMA - Remuneration policy
Institutions shall describe the main elements of their remuneration policies and how they implement these policies. In particular, the following elements, where relevant, shall be described:
| Qualitative disclosures | Qualitative disclosures |
| (a) | Information relating to the bodies that oversee remuneration. Disclosures shall include: — Name, composition and mandate of the main body (management body or remuneration committee as applicable) overseeing the remuneration policy and the number of meetings held by that main body during the financial year. — External consultants whose advice has been sought, the body by which they were commissioned, and in which areas of the remuneration framework. — A description of the scope of the institution’s remuneration policy (eg by regions, business lines), including the extent to which it is applicable to subsidiaries and branches located in third countries. — A description of the staff or categories of staff whose professional activities have a material impact on institutions' risk profile. |
| (b) | Information relating to the design and structure of the remuneration system for identified staff. Disclosures shall include: — An overview of the key features and objectives of remuneration policy, and information about the decision-making process used for determining the remuneration policy and the role of the relevant stakeholders. — Information on the criteria used for performance measurement and ex ante and ex post risk adjustment. — Whether the management body or the remuneration committee where established reviewed the institution’s remuneration policy during the past year, and if so, an overview of any changes that were made, the reasons for those changes and their impact on remuneration. — Information of how the institution ensures that staff in internal control functions are remunerated independently of the businesses they oversee. — Policies and criteria applied for the award of guaranteed variable remuneration and severance payments. |
| (c) | Description of the ways in which current and future risks are taken into account in the remuneration processes. Disclosures shall include an overview of the key risks, their measurement and how these measures affect remuneration. |
| (d) | The ratios between fixed and variable remuneration set in accordance with point (g) of Article 94(1) CRD. |
| (e) | Description of the ways in which the institution seeks to link performance during a performance measurement period with levels of remuneration. Disclosures shall include: — An overview of main performance criteria and metrics for institution, business lines and individuals. — An overview of how amounts of individual variable remuneration are linked to institution-wide and individual performance. — Information on the criteria used to determine the balance between different types of instruments awarded including shares, equivalent ownership interest, options and other instruments. — Information of the measures the institution will implement to adjust variable remuneration in the event that performance metrics are weak, including the institution’s criteria for determining ‘weak’ performance metrics. |
| (f) | Description of the ways in which the institution seeks to adjust remuneration to take account of longterm performance. Disclosures shall include: — An overview of the institution’s policy on deferral, payout in instrument, retention periods and vesting of variable remuneration including where it is different among staff or categories of staff. — Information of the institution’ criteria for ex post adjustments (malus during deferral and clawback after vesting, if permitted by national law). — Where applicable, shareholding requirements that may be imposed on identified staff. |
| (g) | The description of the main parameters and rationale for any variable components scheme and any other non-cash benefit in accordance with point (f) of Article 450(1) CRR. Disclosures shall include: — Information on the specific performance indicators used to determine the variable components of remuneration and the criteria used to determine the balance between different types of instruments awarded, including shares, equivalent ownership interests, share-linked instruments, equivalent non cash-instruments, options and other instruments. |
| (h) | Upon demand from the relevant Member State or competent authority, the total remuneration for each member of the management body or senior management. |
| (i) | Information on whether the institution benefits from a derogation laid down in Article 94(3) CRD in accordance with point (k) of Article 450(1) CRR. — For the purposes of this point, institutions that benefit from such a derogation shall indicate whether this is on the basis of point (a) and/or point (b) of Article 94(3) CRD. They shall also indicate for which of the remuneration principles they apply the derogation(s), the number of staff members that benefit from the derogation(s) and their total remuneration, split into fixed and variable remuneration. |
| (j) | Large institutions shall disclose the quantitative information on the remuneration of their collective management body, differentiating between executive and non-executive members in accordance with Article 450(2) CRR. |
Template EU REM1 - Remuneration awarded for the financial year
| a | b | c | d | |||
|---|---|---|---|---|---|---|
| MB Supervisory function | MB Management function | Other senior management | Other identified staff | |||
| 1 | Fixed remuneration | Number of identified staff | ||||
| 2 | Fixed remuneration | Total fixed remuneration | ||||
| 3 | Fixed remuneration | Of which: cash-based | ||||
| 4 | Fixed remuneration | (Not applicable in the EU) | ||||
| EU-4a | Fixed remuneration | Of which: shares or equivalent ownership interests | ||||
| 5 | Fixed remuneration | Of which: share-linked instruments or equivalent non-cash instruments | ||||
| EU-5x | Fixed remuneration | Of which: other instruments | ||||
| 6 | Fixed remuneration | (Not applicable in the EU) | ||||
| 7 | Fixed remuneration | Of which: other forms | ||||
| 8 | Fixed remuneration | (Not applicable in the EU) | ||||
| 9 | Variable remuneration | Number of identified staff | ||||
| 10 | Variable remuneration | Total variable remuneration | ||||
| 11 | Variable remuneration | Of which: cash-based | ||||
| 12 | Variable remuneration | Of which: deferred | ||||
| EU-13a | Variable remuneration | Of which: shares or equivalent ownership interests | ||||
| EU-14a | Variable remuneration | Of which: deferred | ||||
| EU-13b | Variable remuneration | Of which: share-linked instruments or equivalent non-cash instruments | ||||
| EU-14b | Variable remuneration | Of which: deferred | ||||
| EU-14x | Variable remuneration | Of which: other instruments | ||||
| EU-14y | Variable remuneration | Of which: deferred | ||||
| 15 | Variable remuneration | Of which: other forms | ||||
| 16 | Variable remuneration | Of which: deferred | ||||
| 17 | Total remuneration (2 + 10) | Total remuneration (2 + 10) |
Template EU REM2 - Special payments to staff whose professional activities have a material impact on institutions’ risk profile (identified staff)
| a | b | c | d | ||
|---|---|---|---|---|---|
| MB Supervisory function | MB Management function | Other senior management | Other identified staff | ||
| Guaranteed variable remuneration awards | Guaranteed variable remuneration awards | Guaranteed variable remuneration awards | Guaranteed variable remuneration awards | Guaranteed variable remuneration awards | |
| 1 | Guaranteed variable remuneration awards - Number of identified staff | ||||
| 2 | Guaranteed variable remuneration awards -Total amount | ||||
| 3 | Of which guaranteed variable remuneration awards paid during the financial year, that are not taken into account in the bonus cap | ||||
| Severance payments awarded in previous periods, that have been paid out during the financial year | Severance payments awarded in previous periods, that have been paid out during the financial year | Severance payments awarded in previous periods, that have been paid out during the financial year | Severance payments awarded in previous periods, that have been paid out during the financial year | Severance payments awarded in previous periods, that have been paid out during the financial year | |
| 4 | Severance payments awarded in previous periods, that have been paid out during the financial year - Number of identified staff | ||||
| 5 | Severance payments awarded in previous periods, that have been paid out during the financial year - Total amount | ||||
| Severance payments awarded during the financial year | Severance payments awarded during the financial year | Severance payments awarded during the financial year | Severance payments awarded during the financial year | Severance payments awarded during the financial year | |
| 6 | Severance payments awarded during the financial year - Number of identified staff | ||||
| 7 | Severance payments awarded during the financial year - Total amount | ||||
| 8 | Of which paid during the financial year | ||||
| 9 | Of which deferred | ||||
| 10 | Of which severance payments paid during the financial year, that are not taken into account in the bonus cap | ||||
| 11 | Of which highest payment that has been awarded to a single person |
Template EU REM3 - Deferred remuneration
| a | b | c | d | e | f | EU - g | EU - h | ||
|---|---|---|---|---|---|---|---|---|---|
| Deferred and retained remuneration | Total amount of deferred remuneration awarded for previous performance periods | Of which due to vest in the financial year | Of which vesting in subsequent financial years | Amount of performance adjustment made in the financial year to deferred remuneration that was due to vest in the financial year | Amount of performance adjustment made in the financial year to deferred remuneration that was due to vest in future performance years | Total amount of adjustment during the financial year due to ex post implicit adjustments (i.e.changes of value of deferred remuneration due to the changes of prices of instruments) | Total amount of deferred remuneration awarded before the financial year actually paid out in the financial year | Total of amount of deferred remuneration awarded for previous performance period that has vested but is subject to retention periods | |
| 1 | MB Supervisory function | ||||||||
| 2 | Cash-based | ||||||||
| 3 | Shares or equivalent ownership interests | ||||||||
| 4 | Share-linked instruments or equivalent non-cash instruments | ||||||||
| 5 | Other instruments | ||||||||
| 6 | Other forms | ||||||||
| 7 | MB Management function | ||||||||
| 8 | Cash-based | ||||||||
| 9 | Shares or equivalent ownership interests | ||||||||
| 10 | Share-linked instruments or equivalent non-cash instruments | ||||||||
| 11 | Other instruments | ||||||||
| 12 | Other forms | ||||||||
| 13 | Other senior management | ||||||||
| 14 | Cash-based | ||||||||
| 15 | Shares or equivalent ownership interests | ||||||||
| 16 | Share-linked instruments or equivalent non-cash instruments | ||||||||
| 17 | Other instruments | ||||||||
| 18 | Other forms | ||||||||
| 19 | Other identified staff | ||||||||
| 20 | Cash-based | ||||||||
| 21 | Shares or equivalent ownership interests | ||||||||
| 22 | Share-linked instruments or equivalent non-cash instruments | ||||||||
| 23 | Other instruments | ||||||||
| 24 | Other forms | ||||||||
| 25 | Total amount |
Template EU REM4 - Remuneration of 1 million EUR or more per year
| a | ||
|---|---|---|
| EUR | Identified staff that are high earners as set out in Article 450(i) CRR | |
| 1 | 1 000 000 to below 1 500 000 | |
| 2 | 1 500 000 to below 2 000 000 | |
| 3 | 2 000 000 to below 2 500 000 | |
| 4 | 2 500 000 to below 3 000 000 | |
| 5 | 3 000 000 to below 3 500 000 | |
| 6 | 3 500 000 to below 4 000 000 | |
| 7 | 4 000 000 to below 4 500 000 | |
| 8 | 4 500 000 to below 5 000 000 | |
| 9 | 5 000 000 to below 6 000 000 | |
| 10 | 6 000 000 to below 7 000 000 | |
| 11 | 7 000 000 to below 8 000 000 | |
| x | To be extended as appropriate, if further payment bands are needed. |
Template EU REM5 - Information on remuneration of staff whose professional activities have a material impact on institutions’ risk profile (identified staff)
| a | b | c | d | e | f | g | h | i | j | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Management body remuneration | Management body remuneration | Management body remuneration | Business areas | Business areas | Business areas | Business areas | Business areas | Business areas | |||
| MB Supervisory function | MB Management function | Total MB | Investment banking | Retail banking | Asset management | Corporate functions | Independent internal control functions | All other | Total | ||
| 1 | Total number of identified staff | ||||||||||
| 2 | Of which: members of the MB | ||||||||||
| 3 | Of which: other senior management | ||||||||||
| 4 | Of which: other identified staff | ||||||||||
| 5 | Total remuneration of identified staff | ||||||||||
| 6 | Of which: variable remuneration | ||||||||||
| 7 | Of which: fixed remuneration |
ANNEX XXXIV
Instructions for the disclosure of remuneration policy templates
Table EU REMA – Remuneration policy: Flexible format
- 1.Institutions shall disclose the information referred to in points (a), (b), (c), (d), (e), (f), (j) and (k) of Article 450(1) and of Article 450(2) CRR ([^E0052]) by following the instructions provided below in this Annex to complete table EU REMA which is presented in Annex XXXIII to this Implementing Regulation.
- 2.This table has a flexible format. In case that institutions apply a different format, they shall provide information comparable with the information required in this table, with a similar level of granularity and including all the substance information required.
- 3.For the purpose of this table and the templates explained in this annex, award means the granting of variable remuneration for a specific accrual period, independently of the actual point in time where the awarded amount is paid.
| Legal references and instructions | Legal references and instructions |
| Row number | Explanation |
| (a) | Information relating to the bodies that oversee remuneration. Disclosures shall include: — name, composition and mandate of the main body (management body and remuneration committee where established) overseeing the remuneration policy and the number of meetings held by that main body during the financial year; — external consultants whose advice has been sought, the body by which they were commissioned, and in which areas of the remuneration framework; — a description of the scope of the institution’s remuneration policy (eg by regions, business lines), including the extent to which it is applicable to subsidiaries and branches located in third countries; — a description of the staff or categories of staff whose professional activities have a material impact on institutions’ risk profile (identified staff). |
| (b) | Information relating to the design and structure of the remuneration system for identified staff. Disclosures shall include: — an overview of the key features and objectives of remuneration policy, and information about the decision-making process used for determining the remuneration policy and the role of the relevant stakeholders (e.g. the shareholders’ meeting); — information on the criteria used for performance measurement and ex ante and ex post risk adjustment; — whether the management body and the remuneration committee, where established, reviewed the institution’s remuneration policy during the past year, and if so, an overview of any changes that were made, the reasons for those changes and their impact on remuneration; — information of how the institution ensures that staff in internal control functions are remunerated independently of the businesses they oversee; — policies and criteria applied for the award of guaranteed variable remuneration and severance payments. |
| (c) | Description of the ways in which current and future risks are taken into account in the remuneration processes Disclosures shall include an overview of the key risks, their measurement and how these measures affect remuneration. |
| (d) | The ratios between fixed and variable remuneration set in accordance with point (g) of Article 94(1) of Directive (EU) 2013/36(‘CRD’) [^E0053] |
| (e) | Description of the ways in which the institution seeks to link performance during a performance measurement period with levels of remuneration Disclosures shall include: — an overview of main performance criteria and metrics for institution, business lines and individuals. — an overview of how amounts of individual variable remuneration are linked to institution-wide and individual performance. — information on the criteria used to determine the balance between different types of instruments awarded including shares, equivalent ownership interest, options and other instruments — information of the measures the institution will implement to adjust variable remuneration in the event that performance metrics are weak, including the institution’s criteria for determining performance metrics when the performance metrics are considered ‘weak’. In accordance with point (n) of Article 94(1) CRD, to be paid or vested the variable remuneration has to be justified on the basis of the performance of the institution, the business unit and the individual concerned. Institutions shall explain the criteria/thresholds for determining that the performance is weak and that does not justify that the variable remuneration can be paid or vested. |
| (f) | Description of the ways in which the institution seeks to adjust remuneration to take account of long-term performance Disclosures shall include: — an overview of the institution’s policy on deferral, payout in instrument, retention periods and vesting of variable remuneration including where it is different among staff or categories of staff. — information of the institution’ criteria for ex post adjustments (malus during deferral and clawback after vesting, if permitted by national law). — where applicable, shareholding requirements that may be imposed on identified staff. |
| (g) | The description of the main parameters and rationale for any variable components scheme and any other non-cash benefit, as referred to in point (f) of Article 450(1) CRR. Disclosures shall include: — Information on the specific risk/performance indicators used to determine the variable components of remuneration and the criteria used to determine the balance between different types of instruments awarded, including shares, equivalent ownership interests, share-linked instruments, equivalent non cash-instruments, options and other instruments. |
| (h) | Upon demand from the relevant Member State or competent authority, the total remuneration for each member of the management body or senior management, as referred to in point (j) of Article 450(1) CRR |
| (i) | Information on whether the institution benefits from a derogation laid down in Article 94(3) CRD, as referred to in point (k) of Article 450(1) CRR For the purposes of this point, institutions that benefit from such a derogation shall indicate whether this is on the basis of point (a) and/or point (b) of Article 94(3) CRD. They shall also indicate which of the remuneration requirements they apply the derogation(s), (i.e., point (l) and/or (m) and/or (o) of Article 94(1) CRD), the number of staff members that benefit from the derogation(s) and their total remuneration, split into fixed and variable remuneration. |
| (j) | Large institutions shall disclose the quantitative information on the remuneration of their collective management body, differentiating between executive and non-executive members, as referred to in Article 450(2) CRR. |
DIRECTIVE 2013/36/EU OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27.6.2013, p. 338).
Template EU REM1 – Remuneration awarded for the financial year: Fixed format
- 4.Institutions shall apply the instructions provided below in this Annex to complete template EU REM1 as presented in Annex XXXIII to this Implementing Regulation, in application of point (h)(i)-(ii) of Article 450(1) CRR.
| Legal references and instructions | Legal references and instructions |
| Row number | Explanation |
| 1 and 9 | Number of identified staff The number of staff whose professional activities have a material impact on the institutions’ risk profile in accordance with Article 92 CRD and the Commission Delegated Regulation on identified staff [^E0054] implementing Article 94(2) CRD (identified staff) and are beneficiaries of the remuneration components listed in this template. It shall be calculated using the FTE (full time equivalent) approach for identified staff other than members of the management body where numbers shall be disclosed as headcount. |
| 2 | Total fixed remuneration Sum of amounts in rows 3 to 7 of this template |
| 3 | Of which: cash-based The amount of cash-based remuneration within the fixed remuneration |
| EU-4a | Of which: shares or equivalent ownership interests The sum of the amounts of shares or equivalent ownership interests, subject to the legal structure of the institution concerned referred to in point (l)(i) of Article 94(1) CRD, within the fixed remuneration. |
| 5 | Of which: share-linked instruments or equivalent non-cash instruments The sum of the amounts of share-linked instruments or equivalent non-cash instruments referred to in point (l)(i) of Article 94(1) CRD, within the fixed remuneration |
| EU-5x | Of which: other instruments The amount of other instruments referred to in point (l)(ii) of Article 94(1) CRD, within the fixed remuneration |
| 7 | Of which: other forms The amounts of fixed remuneration awarded for the financial year that are other than disclosed in other rows under the total fixed remuneration heading This could include proportionate regular pension contributions, or benefits (where such benefits are without consideration of any performance criteria), referred to in recital (64) CRD or other forms of remuneration like car allowances. |
| 10 | Total variable remuneration Sum of amounts in rows 11, EU-13a, EU-13b, EU-14x and 15 of this template The sum of all remuneration components that are not fixed remuneration that is disclosed in row 2 of this template, including guaranteed variable and severance payments awarded during that year. |
| 11 | Of which: cash-based The amount of cash-based remuneration within the variable remuneration |
| 12, EU-14a, EU-14b, EU-14y and 16 | Of which: deferred The amounts of variable remuneration by different types of component that are deferred, determined in accordance with Article 94 CRD. |
| EU-13a | Of which: shares or equivalent ownership interests The sum of the amounts of shares or equivalent ownership interests, subject to the legal structure of the institution concerned referred to in point (l)(i) of Article 94(1) CRD, within the variable remuneration |
| EU-13b | Of which: share-linked instruments or equivalent non-cash instruments The sum of the amounts of share-linked instruments or equivalent non-cash instruments referred to in point (l)(i) of Article 94(1) CRD, within the variable remuneration |
| EU-14x | Of which: other instruments The amount of other instruments referred to in point (l)(ii) of Article 94(1) CRD, within the variable remuneration |
| 15 | Of which: other forms The amounts of variable remuneration awarded for the financial year that are other than those disclosed in other rows under the variable remuneration heading |
| 17 | Total remuneration Sum of amounts in rows 2 and 10 of this template. |
| Column letter | Explanation |
| a | MB Supervisory function The Management Body in its Supervisory function, as the management body acting in its role of overseeing and monitoring management decision-making, as defined in point (8) of Article 3(1) CRD Institutions shall disclose information based on headcount. In accordance with Article 13 CRR, EU parent institutions shall disclose this information on the basis of their consolidated situation and large subsidiaries of EU parents institutions shall disclose this information on an individual basis or, where applicable in accordance with this Regulation and with CRD, on a sub-consolidated basis. The disclosure entity will reflect in this column information on their management body. If following Articles 6 and 13 CRR, the disclosure is at consolidated or sub-consolidated level, information on the identified staff of the management bodies of the subsidiaries shall be disclosed under the relevant business area |
| b | MB Management function The members of the Management Body, who are responsible for its Management functions Institutions shall disclose information based on headcount. Institutions shall disclose information based on headcount. In accordance with Article 13 CRR. EU parent institutions shall disclose this information on the basis of their consolidated situation and large subsidiaries of EU parents institutions shall disclose this information on an individual basis or, where applicable in accordance with this Regulation and with CRD, on a sub-consolidated basis .The disclosure entity will reflect in this column information on their management body. If following Articles 6 and 13 CRR, the disclosure is at consolidated or sub-consolidated level, information on the identified staff of the management bodies of the subsidiaries shall be disclosed under the relevant business area |
| c | Other senior management Senior management as defined in point (9) of Article 3(1) CRD Institutions shall disclose the number of senior managers that are not disclosed under Management Body in its management function and as Other identified staff. Institutions shall disclose information based on FTE. |
| d | Other identified staff Other staff than Management Body in its Supervisory function or in its Management function, and other than senior management, whose professional activities have a material impact on the institution’s risk profile in accordance with the criteria set out in the Commission Delegated Regulation on identified staff implementing Article 94(2) CRD and where appropriate in addition based on institutions’ criteria Institutions may include in this template the breakdown by business areas proposed in template EU REM5. Institutions shall disclose information based on FTE. |
COMMISSION DELEGATED REGULATION (EU) No 604/2014 of 4 March 2014 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards with respect to qualitative and appropriate quantitative criteria to identify categories of staff whose professional activities have a material impact on an institution's risk profile (OJ L 167, 6.6.2014, p. 30).
Template EU REM2 – Special payments to staff whose professional activities have a material impact on institutions’ risk profile (identified staff): Fixed format
- 5.Institutions shall disclose the information referred to in point (h)(v)-(vii) of Article 450(1) CRR by following the instructions provided below in this Annex to complete template EU REM2 which is presented in Annex XXXIII to this Implementing Regulation.
| Legal references and instructions | Legal references and instructions |
| Row number | Explanation |
| 1, 4 and 6 | Number of identified staff The number of identified staff whose professional activities have a material impact on the institutions’ risk profile in accordance with Article 92 CRD and the Commission Delegated Regulation on identified staff implementing Article 94(2) CRD, for each specific remuneration components For columns a and b (MB) of this template the value shall be based on headcount. For columns c and d of this template the value shall be calculated using the FTE (full time equivalent) method. Row 4 of this template refers to severance payments awarded in previous periods and paid out during the financial year (present year) while row 6 of this template refers to awarded during the financial year (present year). |
| 2 | Guaranteed variable remuneration awards – Total amount The amount of guaranteed variable remuneration awards, as referred to in point (e) of Article 94(1) CRD. |
| 3 | Of which, guaranteed variable remuneration awards paid during the financial year, that are not taken into account in the bonus cap The amounts of guaranteed variable remuneration awards as referred to in point (e) of Article 94(1) CRD paid during the financial year (present year), which are not taken into account in the bonus cap With regard to the disclosed information referred to in points (g) and (h)(v)-(vi) of Article 450(1) CRR, institutions shall clearly state whether the aggregate quantitative information on remuneration broken down by business area reflects the bonus cap when new sign-on and severance payments are involved. |
| 5 | Severance payments awarded in previous periods, that have been paid out during the financial year – Total amount The amount of severance payments as referred to in point (h) of Article 94(1) CRD that have been awarded in previous periods and have been paid out during the financial year (present year) |
| 7 | Severance payments awarded during the financial year – Total amount The amount of severance payments as referred to in point (h) of Article 94(1) CRD, awarded during the financial year (present year) |
| 8 | Of which, severance payments awarded during the financial year – Paid during the financial year The amount of severance payments as referred to in point (h) of Article 94(1) CRD, awarded during the financial year that has been paid during the financial year |
| 9 | Of which, severance payments awarded during the financial year – Deferred The amounts of severance payments as referred to in point (h) of Article 94(1) CRD, awarded during the financial year, which are deferred, determined in accordance with Article 94 CRD |
| 10 | Of which, severance payments paid during the financial year, that are not taken into account in the bonus cap The amounts of severance payments as referred to in point (h) of Article 94(1) CRD, paid during the financial year, which are not taken into account in the bonus cap With regard to the disclosed information referred to in points (g) and (h)(v)-(vi) of Article 450(1) CRR, institutions shall clearly state whether the aggregate quantitative information on remuneration broken down by business area reflects the bonus cap when new sign-on and severance payments are involved. |
| 11 | Of which, severance payments awarded during the financial year – Highest payment that has been awarded to a single person The amount of the highest severance payment, as referred to in point (h) of Article 94(1) CRD, that has been awarded to a single person during the financial year. |
| Column letter | Explanation |
| a | MB Supervisory function The Management Body in its Supervisory function, as the management body acting in its role of overseeing and monitoring management decision-making, as defined in point (8) of Article 3(1) CRD (Headcount) |
| b | MB Management function The members of the Management Body, who are responsible for its Management functions (Headcount) |
| c | Other senior management Senior management as defined in point (9) of Article 3(1) CRD Institutions shall disclose the number of senior managers that are not disclosed under Management Body in its management function and as Other identified staff (FTE). |
| d | Other identified staff Other staff than Management Body in its Supervisory function or in its Management function, and other than senior management, whose professional activities have a material impact on the institution’s risk profile in accordance with the criteria set out in the Commission Delegated Regulation on identified staff implementing Article 94(2) CRD and where appropriate in addition based on institutions’ criteria Institutions may include in this template the breakdown by business areas proposed in template EU REM5 (FTE). |
Template EU REM3 –Deferred remuneration: Fixed format
- 6.Institutions shall disclose the information referred point (h)(iii)-(iv) of Article 450(1) CRR following the instructions provided below in this Annex to complete template EU REM3 which is presented in Annex XXXIII to this Implementing Regulation.
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