European Union lawmakers agree to cap bankers' bonuses

BRUSSELS, March 20 Wed Mar 20, 2013 5:53pm EDT

BRUSSELS, March 20 (Reuters) - European Union lawmakers agreed to bar bankers in Europe from getting bonuses bigger than their salaries, EU officials said on Wednesday.

"A deal is done," said one official who attended the negotiations.

The rules, part of a wider reform of capital regulation for banks, would limit banker bonuses to the equivalent of their salary, or two times their salary if shareholders agree. They represent the toughest bonus regime anywhere in the world.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.