Circular No.: 5/2026
Date: 13/03/2026
Το: All Banks and Insurance Companies
Subject: Remuneration Regulation for Banks and Insurance Companies
The Central Bank is seeking to establish a framework for the implementation of sound remuneration practices across Banks and Insurance Companies, herein referred to as "Financial Institutions". The Remuneration Regulation for Banks and Insurance Companies (this Regulation), sets out the Central Bank's minimum requirements for Financial Institutions to maintain responsible and effective remuneration frameworks to ensure that remuneration is commensurate with performance and risk outcomes, and to address the risks associated with improper remuneration practices. This Regulation must be read in conjunction with the Central Bank Law, and the Regulations issued in implementation thereof, including the following, at a minimum:
- Central Bank Circular No. 153/2018 - Risk Management Regulation and Standards;
- Central Bank Circular No. 83/2019 - Corporate Governance Regulation for Banks and accompanying Standards;
- Central Bank Circular No. 4444/2021 - ...