Euro banks fail new pay rules

NO BANKS are providing enough transparency and detail on staff pay, and disclosure needs to improve, the European Banking Authority (EBA) said in a report released yesterday.

“With regard to the new disclosures on remuneration policy and practices, there is room for significant improvements for the majority of banks included in the sample,” the report on banks’ transparency read.

The EBA said five of the 20 banks studied provided “insufficient” information on pay, ten could improve disclosure and five had not published their data when the study took place.