LONDON, April 2 Britain's top banking supervisor
said on Wednesday he wants most of a banker's bonus deferred for
longer than the current average of three years.
"I would like to see deferral increased," Andrew Bailey,
Bank of England Deputy Governor and chief executive of its
Prudential Regulation Authority, told Britain's ITV News.
The current average deferral period is three years, he said,
and a parliamentary commission on banking standards has called
for deferral of up to a decade.
Bailey said he would probably like a period "somewhere in
between", which would suggest five to seven years.
A decade could be too long, he said.
"You've got to balance that against what might be a rather
common sense argument about what is the expected length of
people's working lives. Frankly, I'm not in the business of
deferring for a long time into retirement, and we just need to
think about that question," Bailey said.
The central bank is expected to launch a public consultation
on deferring bonuses later in the year.
(Reporting by Huw Jones and Andy Bruce, editing by Steve