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News Link • Federal Reserve

Fed eyes wide-ranging bank pay rules to combat risk

• Reuters
The U.S. Federal Reserve is close to proposing wide-ranging rules on bankers' pay that would apply to any employee able to take risks that could imperil the institution, a Fed source said on Friday.

Public anger at excessive bank pay has boiled up to the level of the Group of 20 nations, whose leaders meet next week in Pittsburgh. The United States has said it aims to curb the culture of excessive risk-taking at the root of last year's global financial crisis.


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