Einde inhoudsopgave
State aid to banks (IVOR nr. 109) 2018/11.4.4
11.4.4 Concluding remarks
mr. drs. R.E. van Lambalgen, datum 01-12-2017
- Datum
01-12-2017
- Auteur
mr. drs. R.E. van Lambalgen
- JCDI
JCDI:ADS587039:1
- Vakgebied(en)
Financieel recht / Europees financieel recht
Mededingingsrecht / EU-mededingingsrecht
Voetnoten
Voetnoten
Although the fact that the beneficiary bank is subject to remuneration restrictions is a relevant characteristic, it should be noted that remuneration restrictions are not only relevant in the context of State aid. Indeed, every bank in the EU is confronted with some remuneration restrictions. In particular, CRD IV contains several provisions on remuneration policy. Art. 94 CRD IV provides for a cap on the variable remuneration: the variable component shall not exceed 100% of the fixed component of the total remuneration. CRD IV allows for the possibility for Member States to set a lower maximum percentage. The Dutch legislator has used this possibility. Indeed, the Wet beloningsbeleid financiele ondernemingen (Wbfo) provides for a cap of 20% (instead of 100%).
Executive remuneration is a contentious issue. Especially ‘excessive’ bonuses are sometimes heavily criticized. There are many arguments both in favour and against remuneration restrictions, but this PhD-study is not the place to discuss the merits of remuneration restrictions. Rather, this PhD-study – and in particular the present section – is aimed at finding out whether the Commission has consistently taken into account the fact that the beneficiary bank is subject to remuneration restrictions.1
In that regard, the present section has shown that the 2013 Banking Communication is of key importance to the current relevant characteristic. In the first place, this Communication made clear that remuneration restrictions were always required. In the second place, this Communication is quite clear on how the remuneration should be restricted. Subsection 11.4.3 has shown that the modalities of the remuneration restrictions were often different per bank. The 2013 Banking Communication put an end to this. To conclude, the adoption of the 2013 Banking Communication made an important contribution to a consistent application of the remuneration restrictions. From that viewpoint, I greatly welcome the adoption of the 2013 Banking Communication.