Correspondence

Bank remuneration: letter from the Chancellor to the Governor of the Bank of England

The Chancellor has written to the Chair of the Financial Stability Board and Governor of the Bank of England, Mark Carney setting out concerns around the impact of increases in fixed pay in the banking sector.

• From: HM Treasury and The Rt Hon George Osborne
• Published: 20 November 2014

This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

Documents

Letter from the Chancellor of the Exchequer, George Osborne to the Chair of the Financial Stability Board and Governor of the Bank of England, Mark Carney

PDF, 419 KB, 2 pages

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Details

The Chancellor of the Exchequer, George Osborne has written to the Governor of the Bank of England, Mark Carney in his capacity as Chair of the Financial Stability Board. It sets out the Chancellor’s concerns around the implications of the EU’s ‘bonus cap’ and discusses the need for further work at the Financial Stability Board on bank remuneration in the context of rising fixed pay within the EU.

Published 20 November 2014