{"id":84023,"date":"2015-01-30T15:09:27","date_gmt":"2015-01-30T15:09:27","guid":{"rendered":"https:\/\/armbanks.am\/2015\/01\/30\/242291\/"},"modified":"2024-12-15T13:16:06","modified_gmt":"2024-12-15T13:16:06","slug":"ecb-signals-tougher-approach-on-bankers-pay","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2015\/01\/30\/84023\/","title":{"rendered":"ECB signals tougher approach on bankers\u2019 pay"},"content":{"rendered":"<p><strong>YEREVAN, January 30. \/ ARKA \/.<\/strong> The European Central Bank has signalled a tougher approach on bankers\u2019 pay, announcing that it will launch an examination of bonus payments and share options made by lenders, vestifinance.ru reported citing The Financial Times.<\/p>\n<p>The ECB, which took the reins for supervising the eurozone\u2019s biggest lenders last November, said on Thursday it had notified banks that it would \u201cthoroughly examine\u201d their policies on variable pay, such as bonuses and share options.<\/p>\n<p>The ECB said it would take banks\u2019 capital situation into account when examining pay, saying remuneration \u201cshould be consistent with a bank\u2019s ability to maintain a sound capital base\u201d. It expects the review to take place over the course of 2015.<\/p>\n<p>The ECB\u2019s focus on the capital base follows fractious discussions between regulators and the management of Monte dei Paschi di Siena, Italy\u2019s third-largest bank by assets, according to people familiar with the matter.<\/p>\n<p>Fabrizio Viola, chief executive of Monte Paschi, was forced to cap his salary at euro 500k, from euro 3.5m the previous year, in order to gain Brussels\u2019 approval for its state bailout bonds. But in return for the pay cut, Viola accepted a euro 1.2m bonus that would be awarded by the bank\u2019s board once he succeeded in raising a euro 5bn capital increase demanded by Brussels as a condition of the bank receiving state aid.<\/p>\n<p>The move to assess variable pay across eurozone banks \u2014 to be conducted by the ECB\u2019s supervisory wing, known as the single supervisory mechanism \u2014 comes amid wider moves by other regulators after the global financial crisis.<\/p>\n<p>The European Banking Authority, which tries to harmonies how national supervisors across the EU implement directives from Brussels, is putting out its own proposals on the matter after its next board meeting at the end of February.-0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The European Central Bank has signalled a tougher approach on bankers\u2019 pay, announcing that it will launch an examination of bonus payments and share options made by lenders, vestifinance.ru reported citing The Financial Times<\/p>\n","protected":false},"author":1,"featured_media":157767,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15418,12676,13848],"class_list":{"0":"post-84023","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-news","9":"tag-bank-en-2","10":"tag-ecb","11":"tag-the-financial-times"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/84023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=84023"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/84023\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/157767"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=84023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=84023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=84023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}