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China to limit banking executive pay

Source: Internet
Author: User
Keywords Bank China banking China reporting
Tags banking basic source the new
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China's banking regulator will soon unveil new rules restricting pay and bonuses for banking executives, the China Daily quoted an unnamed source as saying.　　According to the new rules, banks ' senior managers ' bonuses should not exceed three times times their basic wage levels.　　The report also said banks would at least withhold 40% of bonuses to deal with future risk events, which would be issued to executives at least after the three-year lockout, and would hold 50% of bonuses for senior policymakers. In addition, banks have the right to recover the bonuses they have paid and to stop future bonuses once the banks have incurred huge losses.

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