BBA has responded to the European Banking Authority's (EBA) consultation on draft technical standards on the definition of material risk takers for remuneration purposes. It says that the provision would affect staff earning in excess of €500,000 but who are not material risk takers. It also says the EBA proposals would exacerbate the move to fixed pay, incrementing fixed costs of institutions, and reducing their flexibility to reduce variable pay and reinforce capital in a downturn. (Source: BBA Response on Bonus Cap)