EU Caps Banker Bonuses, Ups Bank Capital Minimums

Law360, New York (February 28, 2013, 3:18 PM EST) -- The European Parliament has agreed to a measure requiring the region’s banks to hold more high-quality capital and capping bankers’ bonuses at a maximum of twice their base salaries, it announced Thursday.

The proposed legislation, finalized after more than a year of negotiations by lawmakers over adopting the Basel Committee on Banking Supervision’s Basel III banking accords, requires banks to hold at least 8 percent of “good quality” capital against their risk-weighted assets by 2019, according to the European Union. It also caps bankers’ bonuses to...
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