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G20 Finance Ministers Expected to Reach Agreement on Bank Bonuses

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G20 finance ministers are expected to reach an agreement on bank bonuses, but the measure will not include restrictions on the amounts paid to individuals, Britain's Skynews reported Saturday.

The finance ministers were nearing an agreement, under which banks would be forced to disclose the pay of their top earners, Skynews reported.

The row over bank payouts had been expected to dominate the meeting between G20 finance ministers in London held this weekend.

Skynews sources said that the agreements are in principle and would be signed at the G20 meeting in Pittsburgh on September 24-25.

France and Germany had wanted caps on bank payouts, but Chancellor Alistair Darling said any restrictions would be "unenforceable" as bankers would simply find other ways to reward themselves.

The G20 finance ministers and central bank governors gathered in London this weekend to discuss the state of the world economy.

(Xinhua News Agency September 6, 2009)

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