BNP Paribas bonuses 'in line with G20 rules'French bank BNP BNP B-type natriuretic peptide, brain natriuretic peptide Physiology A 32-residue peptide hormone produced predominantly in the ventricles, secreted in response to fluid overload–eg, CHF. See Atrial natriuretic peptide. Paribas' controversial billion euro (1.4 billion dollar) bonus package is in line with new G20 rules to limit traders' perks, the central bank chief said Friday. The bank's huge hand-out to its staff, which comes just months after it received a 5.1 billion euro loan from French taxpayers to see it through the credit crunch Credit Crunch An economic condition whereby investment capital is difficult to obtain. Banks and investors become weary of lending funds to corporations thereby driving up the price of debt products for borrowers. , has raised a political storm in France. But Banque de France Banque de France National bank of France, created in 1800 to restore confidence in the French banking system after the financial upheavals of the revolutionary period. Napoleon was one of its founding shareholders. governor Christian Noyer Christian Noyer (born 6 October 1950 in Soisy-sous-Montmorency, Val-d'Oise) is a French higher civil servant, current governor of the Bank of France (since 2003), and former vice-president of the Executive Board of the European Central Bank (1998-2002). , speaking after a meeting between senior government officials and banking executives, said BNP's plan does not breach new rules agreed in April by G20 leaders to reform banker's incentives. 
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion