The National Bank is to collect information on payments of above1m euros made by banks, which it will report further to theCommittee of European Banking Supervisors.
The modifications, included in a law modifying Ordinance 99/2006,regulating banks' operations, come amid the rising pressuresinternationally to review banker compensation system.
The outlook of some fat bonuses related to their achieving somehighly ambitious targets on the short term have made bankers takeon too high risks in the past years, which eventually led to thefinancial crisis of 2007-2008. Moreover, banks further granted highbonuses during crisis years, though many of them had asked for thestate's support or were even nationalised to be saved frombankruptcy, thus stirring taxpayers' anger.
At present, the fixed monthly salary a boss of a top five bankdomestically stands at 40,000 euros net, to which the annual bonusis added, which in a multinational can account for even 100% of theannual salary. Thus, annual incomes are likely to climb above the1m-euro per year threshold in top banks.
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