⁍ Banks must not discriminate between men and women in awarding bonuses for the same activity, the European Union’s banking watchdog proposed.

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⁍ The European Banking Authority (EBA) said in proposed revisions to its 5-year old guidelines on sound remuneration policies.

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⁍ The guidelines were first introduced to cap banker bonuses in response to public anger over lenders being bailed out in the financial crisis a decade ago.

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– The European Union’s banking watchdog is proposing that banks follow the principle of equal pay by not paying bonuses to men and women at the same rate, Reuters reports. According to Reuters, the European Banking Authority is proposing changes to its 5-year-old guidelines on remuneration that would allow smaller banks—those with assets of up to 15 billion euros—to skirt a cap on banker bonuses put in place during the financial crisis. The changes would allow bankers to receive a modest bonus but must receive part of it in shares that “vest” over time. The EBA says it is also proposing changes to clarify severance pay, retention bonuses, and discretionary pension benefits to avoid them being used to circumvent the cap on bonuses.