EU to track bankers earning a million euros

Top banks in the European Union will have to tell their supervisors how many staff earn more than a million euros a year, draft proposals showed on Thursday.


The European Banking Authority launched a public consultation on draft rules that will require national supervisors to collect details on pay each year to check whether the bloc's curbs on upfront cash bonuses are being implemented.

No banker would be named, and the focus is on large, cross-border banks or major domestic ones. The aim is to discourage bankers from taking excessive risks to earn a bigger bonus. (Reuters)