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UK banks remain in talks with govt on pay -BBA

Published 11/25/2010, 07:12 AM
Updated 11/25/2010, 07:16 AM

LONDON, Nov 25 (Reuters) - Britain's main banking lobby group said on Thursday that the country's top banks were still talking to the government about pay packages, as pressure mounts to curb excessive bonus pay-outs at the end of 2010.

"We have said repeatedly that the banks understand the public mood with respect to remuneration and the banks also understand their societal responsibilities," British Bankers Association Chief Executive Angela Knight said in a statement.

"It is not surprising therefore that we are talking with the government on these and a range of other issues," she added.

Earlier on Thursday, The Times reported that senior executives from Barclays, HSBC, Standard Chartered and Royal Bank of Scotland held discussions last week about a possible "pact" to cut bonus payouts for this year. (Reporting by Sudip Kar-Gupta; Editing by Myles Neligan)

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