Europe hikes capital rules, slashes banker bonuses
Legislation adopted by European Parliament requires banks hold up to four times more capital to protect against trading risk; half of bankers’ bonuses to be paid in contingent capital
Lawmakers in European Parliament on Wednesday overwhelmingly approved tough new rules that could see an up to fourfold increase in the amount of capital banks must hold.
The amendments, to the existing Capital Requirements Directive, require banks to hold more capital to cover risks on the investments they hold in their trading books. "Events in recent years have shown that the risk carried by
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