But one bank, Standard Chartered, has already canned the idea because most of their business is done in Asia. Perhaps, but why should the UK people be immune? There's a reason this industry is among the most distrusted and disliked. It's difficult to say what "moderation" means among bankers these days but at least a few are actually making an effort.
Britain's main banks are working on a joint plan to cut bonus payouts this year and boost lending to small businesses in 2011, The Times newspaper said in its Thursday edition.
The report, citing one insider, said senior executives from Barclays, HSBC, Standard Chartered and Royal Bank of Scotland held discussions last week about a possible "pact."
The banks would be planning to release a joint statement before Christmas with an offer to cut the overall level of bonus payments without capping individual bonuses, in a deal involving the Financial Services Authority, the UK's market regulator.
