British banks in talks to reduce bonus pot: BBC

15th November 2010, Comments 0 comments

Britain's biggest banks are in talks about reducing this year's bonus pot that is currently set to total about 7.0 billion pounds, after coming under government pressure, the BBC reported on Monday.

Talks about cutting the total amount due from 7.0 billion pounds (8.3 billion euros, 11.3 billion dollars) to possibly 4.0 billion pounds are underway amid public anger over planned payouts by bailed-out banks, it said.

Dialogue was said to be taking place under the umbrella of the British Bankers Association but the BBA downplayed the report.

"Right now, speculation about the size and the issue of bonuses is just that -- speculation," it said in a statement.

© 2010 AFP

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