New Regulations for Bank Managers' Bonuses

Professional ServicesBanks ♦ Published: December 5, 2010; 22:41 ♦ (Vindobona)

Additional compensations for managers in the banking sector are subject to new regulations approved by the Austrian National Council. Payments will be deferred in time.

New Regulations for Bank Managers' Bonuses / Picture: ©

As of 2011, only 60% of bonuses for bank managers will be paid out immediately because of the current new legal regulation. The remaining portion will be paid only after five years, if the economic success has been proven as "sustainable". In addition, the payment must be affordable for the bank.

The law project submitted by the Government was agreed on by all political. This…