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The rules are aimed at reducing risktaking in the banks (Photo: stefan)

EU agrees to cap bank bonuses, lift capital requirements

The EU has agreed landmark rules capping bank bonuses after an agreement between MEPs and governments struck in the small hours of Thursday (28 February).

The deal, which also increases the amount of capital banks must keep on their balance sheets, will cap bonus payments at the same level as the annual salary, with special dispensation to pay a bonus of up to twice the salary if an absolute majority of shareholders vote for the higher payment.

The regime, which is composed of a ...

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

The rules are aimed at reducing risktaking in the banks (Photo: stefan)

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

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