World leaders Friday buried their differences over bankers' bonuses, agreeing to back new global standards for financial pay schemes and require banks to build up their capital bases if necessary by reducing pay-outs.
The rules - developed by the Financial Stability Board - for the first time include specific guidelines on the proportion of bankers bonuses that should be paid in the form of deferred compensation.
World leaders also agreed that regulators should limit bonus payments as a proportion of profits "when it is inconsistent with the maintenance of a sound capital base".
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