ECB caps bankers' pay when capital at risk: Lautenschlaeger
Tweet
Share
E-mail
The European Central Bank (ECB) headquarters are pictured in Frankfurt, Germany, September 3, 2015. REUTERS/Ralph Orlowski/File Photo
FRANKFURT (Reuters) - The European Central Bank can cap the remuneration of a banker if it hampers the firm's ability to meet its capital requirement, a top ECB supervisor told a Spanish newspaper.
"If the remuneration is too high and the bank cannot retain profits and use them to increase its capital to meet (regulatory) demands, we impose restrictions," Sabine Lautenschlaeger, who represents the ECB's supervisory arm on the bank's board, told Expansion.
The ECB supervises the euro zone's top 129 banks.
(Reporting By Francesco Canepa)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- EU sends helicopters, firefighters to Serbia to tackle wildfires
- From science fair to strategic showcase: a decade of China’s robot games
- Swedish police probe online networks after teenage girl killed in school sword attack
Create E-mail Alert Related Categories
ReutersRelated Entities
European Central BankSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
