About 35,000 Global Bank Employees May Face EU’s Bonus Curbs

About 35,000 Global Bank Employees May Face EU’s Bonus Curbs

Simon Dawson/Bloomberg

Banker pay has been targeted by regulators and lawmakers since the 2008 financial crisis, with the EU adopting the two-to-one cap on bonuses earlier this year. The EBA, set up in 2011 to harmonize banking rules across the EU, defined anyone earning more than 500,000 euros ($659,000) as a “risk-taker,” making them subject to the pay cap.