Fed to issue US bank pay guidelines Thursday-source

WASHINGTON Oct 22 (Reuters) - The Federal Reserve will issue new bank pay guidelines on Thursday designed to curb excessive risk taking, an industry source said.

The guidelines are expected to apply to any employee able to take risks that could imperil an institution, not just the executives whose large bonuses have been the target of public outrage.

The rules will be aimed at all firms the Fed regulates and be enforceable under its existing powers.

The source, who was not authorized to speak on the record, said it was unclear exactly what practices the rules will clamp down on. (Reporting by Karey Wutkowski; Editing by Lisa Von Ahn)