Banker bonuses cut by EU amendments to CRD...

BRUSSELS – The European Parliament has approved amendments to the Capital Requirements Directive that will slash the bonuses banks are allowed to award their employees.

The new rules on pay, which apply to banks and investment firms, state bonuses must be capped as a proportion of salary, with 50% of their value made up in contingent capital and shares or share-linked instruments, so that the payments are linked to the health of the bank. Upfront cash bonuses must be capped at 30% of the total

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