Here is the rewritten article in markdown format:

Belgium’s Banking Law and Practice: Remuneration Requirements for Credit Institutions

It appears that you have provided a comprehensive overview of Belgium’s banking law and practice regarding remuneration requirements for credit institutions. Below is a detailed summary of the key points.

Remuneration Policy Objectives

The objectives of a remuneration policy are to:

• Ensure sound and prudent risk management
• Align with business strategy, objectives, values, and long-term interests of the bank
• Include measures to avoid conflicts of interest

Scope of Remuneration Policy

A remuneration policy applies to staff whose professional activities have a material impact on the bank’s risk profile (identified staff). The scope includes:

• Variable remuneration
• Fixed basic salary
• Pension policy
• Role-based allowances that are discretionary, not predetermined, not transparent to staff, or not permanent should be classified as variable remuneration

Remuneration Policy Requirements

The following requirements must be met by the remuneration policy:

• Balance between fixed and variable component of remuneration
• Variable part capped at a maximum of 50% of the fixed part or EUR50,000 (or the fixed amount if lower)
• Variable component can only be paid if financial condition of the bank allows it
• Exemption for credit institutions that are not “large institutions” and have assets below EUR5 billion on average over four years

Golden Parachutes

Compensation exceeding 12 months of remuneration must be approved by general meeting of shareholders. The compensation should:

• Reflect actual performance of beneficiary over long term
• Not be granted in cases of misconduct or irregular behavior

Mandatory Disclosures

Banks must publish their remuneration policy and provide information to NBB. Additionally, they must disclose the number of staff members earning EUR1 million or more per financial year, including job title and total compensation.