The National Bank is to collect information on payments of above 1m euros made by banks, which it will report further to the Committee of European Banking Supervisors.
The modifications, included in a law modifying Ordinance 99/2006, regulating banks' operations, come amid the rising pressures internationally to review banker compensation system.
The outlook of some fat bonuses related to their achieving some highly ambitious targets on the short term have made bankers take on too high risks in the past years, which eventually led to the financial crisis of 2007-2008. Moreover, banks further granted high bonuses during crisis years, though many of them had asked for the state's support or were even nationalised to be saved from bankruptcy, thus stirring taxpayers' anger.
At present, the fixed monthly salary a boss of a top five bank domestically stands at 40,000 euros net, to which the annual bonus is added, which in a multinational can account for even 100% of the annual salary. Thus, annual incomes are likely to climb above the 1m-euro per year threshold in top banks.
The National Bank is to collect information on payments of above 1m euros made by banks, which it will report further to the Committee of European Banking Supervisors.
The modifications, included in a law modifying Ordinance 99/2006, regulating banks' operations, come amid the rising pressures internationally to review banker compensation system.
The outlook of some fat bonuses related to their achieving some highly ambitious targets on the short term have made bankers take on too high risks in the past years, which eventually led to the financial crisis of 2007-2008. Moreover, banks further granted high bonuses during crisis years, though many of them had asked for the state's support or were even nationalised to be saved from bankruptcy, thus stirring
