With the revised German Regulation on Remuneration in Financial Institutions (InstVergV, referred to in this report as the "Regulation") which came into effect on 16 December 2013, the German Federal Ministry of Finance has detailed the requirements for remuneration systems implemented by financial institutions, in the context of the German Banking Act. The Regulation applies to all employees of DVB, at all locations.
Pursuant to section 16 of the Regulation, DVB is obliged to disclose information regarding its remuneration policy and practice. DVB's disclosure duties, as a bank subject to Regulation 575/2013/EU (Capital Requirements Regulation – CRR), are based solely on article 450 of the CRR. It requires that the Bank discloses certain qualitative and quantitative details for groups of employees whose professional activity has a material impact on the Bank's risk profile ("risk takers").
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