EU agrees tough new guidelines on bonuses

New rules on capital requirements for banks and a cap on bonuses for bankers are the results of negotiations between Council of the European Union and European Parliament which were concluded with a deal on the 29 June 2010.

The European Parliament is confident that the agreement delivers tough and effective rules that will cover all bonuses awarded or paid from 2011 onwards. It will be the first cap on how bankers are paid worldwide.

Spiegel Online International, 1.7.10: Europe Moves to Regulate Bankers' Bonuses http://www.spiegel.de/international/europe/0,1518,704046,00.html

ESO: Background information: Regulator to seek EU-wide bank pay rules http://www.europeansources.info/record/regulator-to-seek-eu-wide-bank-pay-rules/

BBC News, 30.6.10: EU agrees bank bonuses limit deal http://news.bbc.co.uk/1/hi/business/10468718.stm

France24, 30.6.10: EU completes bonus cap legislation for bankers http://www.france24.com/en/20100630-eu-completes-bonus-cap-legislation-bankers

European Parliament: Press Release, 30.6.10: European Parliament caps bankers' bonuses http://www.europarl.europa.eu/news/expert/infopress_page/042-77286-181-06-27-907-20100630IPR77285-30-06-2010-2010-false/default_en.htm

EurActiv, 1.7.10: EU close to slashing bankers' bonuses http://www.euractiv.com/en/financial-services/eu-close-slashing-banker-bonuses-news-495779

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