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MEPs cap bankers' bonuses and step up bank capital requirements

EU News 106/2013

European Parliament

Bankers' annual bonuses must not normally exceed their annual salaries and banks must hold more high quality capital to increase stability in the sector, says a deal reached by European Parliament and Council negotiators on Wednesday evening. The only possible exception, allowing bonuses of up to twice annual salary, would have to be authorised by holders of a half of a bank's shares. MEPs fought for a 1:1 ratio from the outset.

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