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Myners meets with foreign banks
Lord Myners, the treasury minister, will today hold a meeting over bonuses with the major foreign banks operating in the UK. He will urge them to agree to a “level playing field” over pay and bonuses. UK banks have already agreed on voluntary rules on remuneration, and have pledged greater transparency in the way they pay their staff. At today’s meeting, Myners will ask the overseas banks to sign up to the same kind of agreement. Barclays and Royal Bank of Scotland (RBS) have expressed worries that they will lose staff if world banks do not follow their lead.