Ministers reconciled to banks paying out billions in bonuses - BBC

FINANCIAL SERVICES

Ministers reconciled to banks paying out billions in bonuses - BBC

The government is resigned to UK banks paying out billions of pounds in bonuses this year, despite its calls to curb the payments, the BBC reports today.

The best the coalition can hope for is a declaration from the banks that they will pay out less than they would have without government intervention, said BBC business editor Robert Peston.

>>> A detailed analysis summarising the current position in the ongoing development of the new global regulatory framework for remuneration in financial service firms will be published next month in e-reward’s paid-for subscription series, e-research.

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Title: Bank bonuses “to run to billions in 2011”, BBC, 7 January 2011.

Availability: Read the BBC report online at www.bbc.co.uk/news/business-12131092.

--> See also “Banks to pay out billions in bonuses”, Robert Peston blog, 6 January 2011: www.bbc.co.uk/blogs/thereporters/robertpeston/2011/01/banks_to_pay_out_billions_in_b.html.