GENEVA (AP) — New banking rules are being proposed by an influential global regulatory panel that would give investors a better idea of when CEOs and other high-paid executives get bonuses even when their companies are lagging.
The panel affiliated with the Bank for International Settlements in Basel said its proposal Monday would require banks to reveal whether a bonus is linked to a firm’s performance and to provide other details aimed at preventing lenders from hiding irresponsible risks.
The new international rules “will allow market participants to assess the quality of a bank’s compensation practices and the incentives towards risk-taking they support,” said Fernando Vargas, chairman of the Basel Committee on Banking Supervision’s task force on remuneration and an associate director-general at the Bank of Spain.
Vargas said his panel’s proposal also would promote “greater convergence and consistency of disclosure on remuneration” by requiring lenders to publicly provide details of their risks and capitalization.
In a statement on its Web site, the committee said it is seeking public comment until Feb. 25 on its plan to boost the transparency of lenders’ pay policies — part of an overall push to “support effective market discipline.”
The committee includes regulators from the U.S., China and 25 other countries.
The issue of extravagant bonuses for CEOs even when their companies were suffering was a hot topic during the global financial crisis.
The panel’s six-page plan would require banks to disclose more information about how pay and compensation are awarded and are related to job performance, how a company is organized and the “long-term performance measures” of the company itself.
Under the plan, banks would have to disclose the “number and total amount of guaranteed bonuses during the financial year,” how a bank’s pay and compensation may have been adjusted because of weak performance, and how much deferred compensation remains outstanding.
The European Union and other nations have been setting rules on bankers’ pay to prevent the kind of excessive risk-taking that they fear contributed to the crisis. Earlier this month, EU regulators slapped limits onto cash payouts and banking bonuses.
Some bankers have expressed skepticism of having to go beyond what regulators already require, but the Basel committee said its latest proposal would “add greater specificity” to previous guidance on how much banks should have to disclose publicly.
It also said it recognized that the proposal may not be relevant to all banks, particularly those not big enough to have a remuneration committee.
The Swiss-based Bank for International Settlements, an intragovernmental organization of central banks, recently has been setting more stringent rules intended to boost banking and lending fitness over the long haul.
Other new rules, for example, will gradually require banks to hold greater capital buffers to absorb potential losses, which are likely to affect the credit industry over the next decade by imposing stricter discipline on credit cards, mortgages and other loans.
Requiring banks to keep more capital on hand will limit the amount of money they can lend, but it will make them better able to withstand the blow if many of those loans go sour.
Those new rules were presented to leaders of the Group of 20 rich and developing countries and then to national governments for ratification. U.S. officials including Federal Reserve chairman Ben Bernanke have issued statements of support for the Basel bank’s attempts to reduce the occurrence and severity of future financial crises.
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Reagan/DeMint.deciple
Posted on December 28, 2010 at 3:03pmpost your comments
Report Post »Reagan/DeMint.deciple
Posted on December 28, 2010 at 3:13pmposted
Report Post »God
Posted on December 28, 2010 at 2:50pmyeah
Report Post »Alvin691
Posted on December 28, 2010 at 8:18amGlobal governance
Report Post »justice
Posted on December 28, 2010 at 7:03amUnions, and Congress and yes the THE ever so popular Czars from the man himself..
Report Post »Anne G
Posted on December 28, 2010 at 4:39amObama’s gotta love this crap. He’s salivating and anticipating his New World Order. IMPEACH!
Report Post »cogito ergo sum
Posted on December 27, 2010 at 9:55pmWhile I agree something needs to be done about these “banksters” this is not how to handle this. Not bailong out any bank in the first place was the proper solution. Many people seem to defend the “rights” of bank. I do not believe any business should be equated to a living person through rights. While I think banks need to be dealt with, I do not think this is the solution. Trying to fight greed through regulation is foolish. Signing on to any deal to expose compensation is feign attempt to solve that problem. Greed will still persist and the greedy will find new ways of satisfying their desires.
Cogito Ergo Sum
Report Post »NoRoomForSocialismHere
Posted on December 27, 2010 at 9:51pmAs I have read recently, every bill/law should have its constitutionality proven certificate of proof each time a bill is introduced while removing the work-a-rounds like Exec-Orders, cloture, voting without reading. Or waiting for most senators to go home and then remove what had already been approved. i.e. SEN Hutchison TX grouping with Demos at Christmas in 2006 or 7 after all the opponents left for the holidays and took out most of the money for the Border Fence.
End the UN, tear the building down, and sell the land to American developers
Report Post »End the ability for a President to hire people like the un-vetted subversive CZARS.
End stuffing pork in a legitimate bill forever.
End the Federal Reserve who controls OUR money/economy unconstitutionally.
End protecting 30 million plus Illegal Alien Mexicans to cover for the 50 thousand Irish Illegal’s like Ted Kennedy did, John McCain, John Cornyn, Hutchison, Schumer, and other Irish Catholic descendants do. My migrant Irish part of the family came before the immigration laws ever existed.
End the unconstitutional too big to fail syndrome.
Progressive-Socialist-Marxists are subversives and should not be allowed into the country. If the immigration laws were enforced, they probably would not be here. Yeah, that would eliminate Hollywood and its bottom feeders.
End paying WWII countries billions each like Japan because they attacked us.
End paying Germany, England, Philippines, KENYA, and others with our stimulus.
StMichelob
Posted on December 27, 2010 at 10:18pmEnd it all by loading your weapon and gathering your community to fight for our founders’ vision of America. And make a physical stand, the time for verbal rhetoric is ended. Stand now or be forever a whimper in history.
Report Post »Internet AnchormanTV
Posted on December 27, 2010 at 9:12pmThis is a scheme by the bankeakin order to take the heat off them. 2011 is turning into the year of “off with their heads” and they know it.
Report Post »http://www.internetanchorman.tv
Deanna in Missouri
Posted on December 27, 2010 at 8:19pmIf I became president tomorrow the very first thing I would do is send the U.N. packing with a swift kick in the butt.
Report Post »GoingBeck
Posted on December 27, 2010 at 8:12pmSooo….at what amount does minimum pay and maximum earnings intersect?
Socialism. You can‘t make more than me even if I don’t do anything.
Don’t look now, but, Atlas is shrugging and the makers are going Galt.
Report Post »Room 101
Posted on December 27, 2010 at 8:02pm“Give me control of a nation’s money
Report Post »and I care not who makes the laws.” – Mayer Rothschild
VanGrungy
Posted on December 27, 2010 at 8:22pmAudit, then end the Fed…
Report Post »temple62
Posted on December 27, 2010 at 7:56pmGee, what a novel idea! How about STOPPING with the bank bailouts and jailing the bankers. They do nothing to help Americans and I am tired of seeing Congress, Bankers and Greed being reward on the back of the taxpayers.
Report Post »tranquilrider
Posted on December 27, 2010 at 8:01pmAgreed.
Report Post »commonsenseguy
Posted on December 27, 2010 at 8:16pm, trust me, i think the bankers are just as responsible as anybody, and i am not defending them, all i am saying if you let the un or the government cut pay for them then who will be next, this administration is putting things in bills that will allow them to do whatever they want to and we can’t stop them,
Report Post »StMichelob
Posted on December 27, 2010 at 8:55pmMy point exactly, commonsense. The bankers are NOT at fault, but the government, The WORLD government stepping in and tell a sovereing nation what to do with their banking system is anti-American.
GO FALCONS!
Report Post »tranquilrider
Posted on December 27, 2010 at 9:35pmTrading and betting on mortgae defaults and lining your pockets while the working man loses everything is anti-American!
Report Post »Might want to protect the working man rather than the millionaire banker who could care less about you
GhostOfJefferson
Posted on December 28, 2010 at 11:06am@tranquilrider
The working man doesn’t care about me either. Let’s not get all carried away on the union proselytizing please.
Between the two, the working man and the millionaire, I have a better chance of gaining employment with the millionaire. The odds, as it were, are against the blue collar guy who lives paycheque to paycheque being able to employ me or others.
Report Post »Patriot Cat
Posted on December 27, 2010 at 7:56pmI must tell you that there is no law in the constitution that recognizes any international law. However, with an Executive Order, BOBO has already given special powers to International Police which allows them all powers including taping without a judge’s writ and killing without being blamed. They are above all US laws according to the executive order…which was ordered last year.
Report Post »Eblaze44
Posted on December 27, 2010 at 7:34pmBut folks, this is what all the people want, they want the people on the other side of the world to tell us how to live – just look at the people we elect to run the country – year after year we elect globalists from both of the major parties. We even have elected people who openly advocate doing away with our national borders and sovereignty. they work night and day to adopt “international” rules and laws that would over ride our Constitution.
Report Post »commonsenseguy
Posted on December 27, 2010 at 7:32pmgeorge soros { new world order } this is what he wants, to rule and the u n and obama are his puppets . in case no one is listening this is where we are headed with these progressives in charge, it is the bankers now, then it is the american worker, then the union workers,then they might start paying attention after it is to late. the u n { universal nazis } is nothing more than a bunch of communist ass holes who think they will rule when the new world order takes over, just like obama thinks he will still be in charge here, when george soros get through with obama there want be any thing left but him begging for a crumb. so please people keep fighting for freedom and tell the universal nazis to go to hell.
Report Post »tranquilrider
Posted on December 27, 2010 at 7:37pmUmmmm it was the bankers that almost put the country into a depression.
Report Post »commonsenseguy
Posted on December 27, 2010 at 7:44pmalong with the government dogs also, i don’t hear any one saying that we should cut the governments pay. again, if you let them have a inch,they will take a mile.
Report Post »tranquilrider
Posted on December 27, 2010 at 7:56pmYeah, right. Everything you take issue with is directly related to Soros because Beck says so. DO YOUR OWN HOMEWORK!
Report Post »StMichelob
Posted on December 27, 2010 at 8:04pmTRANQUIL your soros plan to tell ALL of us that we are stupid, to “do your own homework” is a failure. Go tell him to eff off, that we are informed, and he needs to find a new tactic.
Report Post »tranquilrider
Posted on December 27, 2010 at 8:13pmI love when you people tell anyone you don’t agree with that we work for Soros. It’s unoriginal, paranoid and just plain stupid. By your logic, you must work for Beck and Murdoch.
Report Post »NoRoomForSocialismHere
Posted on December 27, 2010 at 8:27pmPROTECTION OF ILLEGAL ALIENS is OUR downfall, wakeup
The bankers, of which I would not protect in war, were forced to give unqualified loans by OUR congress Barney the Queen and “W” was part of that. “W” sent La RAZA millions to help them find a way to get illegal’s a home without properly qualifying as you or I would have to. A Library card and electric bill was all of the ID required. “W” wanted to keep his cheap labor friends from the U.S. Chamber of Commerce happy while embedding his precious Illegal Aliens into housing in hopes to keep them here. The Progressive-Socialist has this part right and I have pushed this message since 2006 when I found out.
The fall was because of unqualified mortgage loans to Foreign Nationals and that is the end of that argument, it is a matter of recorded history.
It is time to remove the Woodrow Wilson Socialists bank aka the FEDS. It has been our downfall to allow people that hate America control us in our own infrastructure as if they were part of government.
Report Post »StMichelob
Posted on December 27, 2010 at 8:28pm“yes we are stupid’ now go tell GEORGE SOROS to get a new plan of attack, at least here on The Blaze. i am watching for you, and i am gonna tell everyone after you operatives post that your ‘plan’ is to call ALL of us stupid, to repeat it, and to try to mock us and blame Bush for everything. Get off my site, commie, or be prepared to be mocked and ridiculed off it.
Report Post »commonsenseguy
Posted on December 27, 2010 at 8:39pmi guess that we are all a bunch of uneducated glenn beck followers who don,t have a brain. that according to tranquilrider, or he needs to lay off those tranquilizers!!!!!
Report Post »StMichelob
Posted on December 27, 2010 at 10:28pmTranquil, every word you type is a word already spoken by your bretheren, and you speak it line for line. I need no other proof, and neither do any posting here tonight. Disguise your prime directive all you want, but uncle george is right there, and he fails. Your lying that you are not working for him entrenches even deeper that you and your organisation know what you are doing is against the will of the people of the United States, and that you know personally what you are posting here is a lie that you yourself know is being perpetuated. SO. save your integrity and cease posting, or keep posting tonight and face my rebuttal. Not so hard if you ask me….
Report Post »mrmikejohnson
Posted on December 27, 2010 at 7:27pmThe next time conservatives have control of the government, we need to add a constitutional amendment that specifically forbids the US from joining any sort of global government.
Report Post »commonsenseguy
Posted on December 27, 2010 at 7:34pmthe u n could be done with tomorrow if we would quit paying over 65 % of their budget. but obama is not going to cut off his commie friends.
Report Post »Patriot Cat
Posted on December 27, 2010 at 7:52pmIt was already discussed. We were warned not to do anything with anyone outside the US because we are not like any other country. As God is my witness, I am prepared to die for my country and my God.
Report Post »starman70
Posted on December 27, 2010 at 7:22pmWhat is wrong with the stockholders of these banks regulating the pay of the top executives? If the Stockholders think that the pay is excessive, tell the executives what to accept or REMOVE THEM. This is another example of the principle, “WE SURROUND THEM.” Same works for government too.
These top executives have voted themselves gigantic pay packages just as the Senators and Representatives have done for themselves in Washington.
Proxy fights, floor nominations at annual meetings and other tactics can be used to quell these excessive pay packages. Let the stockholders do it, not the government.
Report Post »guyperram
Posted on December 27, 2010 at 7:20pmGreat idea! With just a few small regulations the politicians will be better able to “yank the money string” whenever they need a few extra bucks. Of course, this is all in the interest of global harmony (or some such baloney).
Report Post »Isn’t marxism wonderful? Comrades, now that we are all equal, perhaps they would allow us serfs to have our own money string to yank!
One world government, one world currency. Oh yea, Beck is supposed to be nuts! Maybe the idiots should actually become educated and find out what is really happening.
I forgot. their Marxist leaders haven’t told them what to think yet. Darn! That’s probably why Stalin called them idiots!
Race
Posted on December 27, 2010 at 7:18pmHmmmmmm………wonder if they’ll ever get around to imposing these kinds of rules on unions. Nawww I doubt it.
Report Post »randy
Posted on December 27, 2010 at 7:14pmExcuse my grammar…
Report Post »We don’t need no stinking GLOBAL RULEs for US banks!!!!!
GhostOfJefferson
Posted on December 27, 2010 at 7:12pmLast check, we’re not under any obligation to follow any international financial regulations. The supreme law of the land is, was, and hopefully forever will be the Constitution. No other law trumps it, even treaties. Frankly put, our government cannot “give” our rights away via treaty, since the rights are not theirs to give in the first place.
Put that in your pipe and smoke it, international brotherhood of socialist crack smokers. :)
Report Post »StMichelob
Posted on December 27, 2010 at 7:14pmUntil our ‘representative” to this meeting oks it, and congress has no power to either ratify or NOT ratify it, then you are right.
Report Post »I.E. You are wrong.
randy
Posted on December 27, 2010 at 7:15pmAmen Brother!
Report Post »Patriot Cat
Posted on December 27, 2010 at 7:50pmGhostofjefferson- You are correct…as far as it goes. There is a precedent being set….some set years ago by other administrations without being culled from the stack they have never been challenged in the Courts. I wrote to all of Congress when BOBO had been in office for only about 3 weeks to ask if we have a working constitutional government. No one replied. I have also told many of them that they are now superfluous. Congress has been made into nothing by BOBO. Executive Orders which are not law, btw, have now been upheld by not being challenged by Congress. It’s time to stand up and call it as you see it. Either we get rid of the rats or we stand down and give in. I stand for God and my country. As long as I live, I will thank God for this country and I will not stand by and silently let anyone take my Constitution from me.
Report Post »Patriot Cat
Posted on December 27, 2010 at 7:58pmYou are correct. We do not even have an obligation to be a member of the UN which, in my humble opinion, is a waste of time…and a bully pulpit for every little perverted dictator in the world. I trust in my God.
Report Post »Deanna in Missouri
Posted on December 27, 2010 at 8:15pm“we’re not under any obligation to follow any international financial regulations”
Report Post »You are right but what has this administration been doing the last two years? Congress is just about irrelevant now.
Sgt.Crust
Posted on December 27, 2010 at 8:16pmTo Ghost, brother, let me be the first to apoligize to you, for my hateful words, and to all here that witnessed them. I sometimes let the heat of battle get the better of me. I try to hold my tongue, but the devil gets the best of me sometimes, for I am a sinner and repent. I do feel deep sorry for calling names, and not arguing the points on merit, so to all I’ve offended, I am deeply sorry and hope you can forgive me.
Report Post »NoRoomForSocialismHere
Posted on December 27, 2010 at 9:44pm@Patriot Cat, Posted on December 27, 2010 at 7:50pm
You are right. If Congress would act on those Exec Orders, the Constitution would regain its muzzled power.
Congress politicians depend on those orders to keep them from voting on the subject especially at election time.
Report Post »GhostOfJefferson
Posted on December 28, 2010 at 10:13am@StMichelob
Incorrect. Congress only has powers given to it by us, and cannot by any means, look it up, take away our rights. The are, again look it up, unalienable. That means that no power can separate our rights from our persons except the Creator they refer to. Ergo, Congress is not and cannot be empowered to give our rights up to others through treaty, since they themselves cannot touch our rights even within the confines of our borders.
This is basic Enlightenment thought. I urge you to consider reading the philosophers and thinkers who inspired the Founding Fathers, as well as peruse the Federalist Papers when you get a chance.
Report Post »GhostOfJefferson
Posted on December 28, 2010 at 10:16am@Sgt.Crust
No offense taken Mr. Crust. :)
Happy New Year to you and yours.
Report Post »StMichelob
Posted on December 27, 2010 at 7:12pmOk. This kind of news is coming faster and faster. We as Americans need to be ready, SERIOUSLY ready for a tight defence on our Nation’s boarders. Within our communities, within our counties, and within our states, get ready. SERIOUSLY get ready.
Report Post »StMichelob
Posted on December 27, 2010 at 7:18pmOrganize, people and set your stores. This has gotten way too serious in such a short time, ever since Nov. 2nd, i figure. it’s now up to US to defend OUR Constitution. Now is the time. We have been chosen. Will you live on your knees or die on you feet, for the sake of your children?
Semper Fi, and I pledge my life, my fourtune, My SACRED HONOR to you all. Stand with me and all America NOW!
Report Post »tranquilrider
Posted on December 27, 2010 at 7:34pmGet a grip or get some serious therapy!
Report Post »StMichelob
Posted on December 27, 2010 at 7:42pmTRANQUIL, get a grip on what exactly? Are you saying this is just “matter of course” and should be poo-pooed away as we watch the next “Jersey Shore”? That we should just pull the wool farther down our faces so we just don’t see? Please tell me what i need to get a grip on.
Report Post »StMichelob
Posted on December 27, 2010 at 7:45pmOh. i see now. A Carlin philosopher. That explains it all. Go die on your failed anti-American team, Tranquil. You get in my way and you will feed the worms.
Report Post »tranquilrider
Posted on December 27, 2010 at 7:47pmReality my friend.
Report Post »Please explain with facts what has happened in the last two years to you personally that makes you feel that it is the end of the world.
tranquilrider
Posted on December 27, 2010 at 7:50pm@StMichelob
Report Post »Your violent paranoid rhetoric is what’s wrong with America. Your empty threats don’t scare me at all. Fortunately I feel quite calm knowing that paranoid lunatics like yourself are the minority
tranquilrider
Posted on December 27, 2010 at 7:54pmWhat exactly was Carlin wrong about?
Report Post »StMichelob
Posted on December 27, 2010 at 8:00pmYou are a move-on operative, and i know your tactics “explain what has happened the last two years’ blah blah blah. if you are truely searching for the facts, then you already know them, that we are being driven down a road that completely subverts the Constitution of this country, and i’ll not give you your satisfaction of having me list them here. You are sadly mistaken if you want to label me a “violent paranoid rhetoric” partaker instead of a “passionate, fed-up patriot”. I am SICK TO DEATH of you leftist, socialist smug bastards trying to mis-label me and my kin, in a pathetic attempt to make us feel badly about our patriotic duty to defend what is OURS, not YOURS, and I will hold back no longer! “Paranoid lunitic”? This goes only a few more tics toward totalitarian dictatorship, and you will have to statrt labeling a WHOLE lot more RIGHTEOUSLY INDIGNANT Americans with that! You come see me boy when it all hits the fan, and you will see uncle soros didn’t prepare you NEARLY enough to face THIS pissed off patriotic Marine.
Report Post »StMichelob
Posted on December 27, 2010 at 8:08pmAnd now you will call me “uneducated’ or “I need to read a book” get a new attack profile. I read my Sun Tzu.
Report Post »tranquilrider
Posted on December 27, 2010 at 8:10pmLMFAO.
Report Post »Soros is coming to get you personally. He told me so himself.
Might really want to get some help there Brother. The reason you won’t respond to my question is because you have no substance within you. You are merely a book cover with no pages to turn.
Deanna in Missouri
Posted on December 27, 2010 at 8:11pmStMichelob
Report Post »Kudos to you my friend. We who love our country will stand tall against all enemies, including other Americans who want to bring us down to third world status.
StMichelob
Posted on December 27, 2010 at 8:14pmI’ll be back at halftime. Gotta see my Falcons take the saints to the woodshed. This ain’t done, Tranquil, unless you let it lie.
Report Post »StMichelob
Posted on December 27, 2010 at 8:23pmNo substative essence in that remark, tranquil. try again. try harder. otherwise shut your effing pie hole.
And Thank you, Deanna….I meant when I gave my pledge to you and ALL Americans, my life, my fourtune, my SACRED HONOR. I AM a Marine, discharged long ago, but the saying “Once a Marine, ALWAYS a Marine” still holds with myself and ALL my Brothers. We stand to serve eternally…..sorry…
We stand to serva America eternally, as written in our hemn,
“If the Army and the Navy, ever look on Heaven’s scenes…
They will find the streets are guarded by UNITED STATES MARINES!”
Semper Fidelis, America, and if my blood shall ensure this Great Nation’s continuity, then so be it. i give it freely.
Report Post »Cool inside the Fyre
Posted on December 27, 2010 at 7:11pmI guess “News-weak“ was right ”Were All Socialists Now.”
Report Post »These guys are persistent and won’t take HELL NO for an answer.
Sovereign countries can say NO.
Pull assets out of NATO, IMF, WorldBanc etc…
expel Axis countries delegates,
or GITMO.
Long Live the Republic
tranquilrider
Posted on December 27, 2010 at 7:36pmIt is all explained in the link below. One of the greatest comedic geniouses of our time can explain it better than Glenn or any politition that you may have voted in.
http://www.youtube.com/watch?v=acLW1vFO-2Q
Report Post »sportlock
Posted on December 27, 2010 at 7:46pmLemmie get this str8
So politicians can have a 12% job approval rating, sink the worlds strongest economy, pass Obamacare inspite of the majority rejecting it, all the while refusing to even read the bill, AND vote on their own raises….
But the bankers are the bad guys???
Anyone else feel a slight of hand goin on here?
Report Post »CatB
Posted on December 27, 2010 at 7:51pmWhen are they going to start “regulating” over-paid ACTORS! I have more of a problem with them than I do bankers .. how about over paid POLITICIANS .. how does someone take a job as a Senator and end up a millionaire many times over?
Report Post »AmericanSoldier
Posted on December 27, 2010 at 9:24pmI hate the greedy banksters but I wouldn’t want any Government to be able to set limits on the amount any employee can make. I also disagree with the opposite version of this, minimum wage. Both should be eliminated from regulation!
Report Post »NoRoomForSocialismHere
Posted on December 27, 2010 at 9:45pm@Cool inside the Fyre Posted on December 27, 2010 at 7:11pm
Report Post »Well said.
Cobra Blue
Posted on December 28, 2010 at 12:49amAnyone care to take a guess how much longer before the American people have had enough. IS it painful enough for you yet? Tired of talking yet? Tired of being ignored yet? Hmmmmm!
Report Post »Workforit
Posted on December 28, 2010 at 4:35pmRight on Tranquilrider! I had not seen that George Carlin bit in a couple of years! The sad part is… It’s not really funny. It’s to close to the truth.
Report Post »