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 The news service said that the taxpayer-backed lender will say ahead
of its annual general meeting that it wants flexibility in paying
employees up to 200 percent of their salaries in bonus awards.
(http://link.reuters.com/jab38v)
From next year, bankers' bonuses in the 28-country EU can be no
higher than fixed salary, or twice that amount if a bank's
shareholders give their approval.
The Bank of England said in March that it is scrutinizing allowances
awarded to top staff by banks in an effort to establish whether they
are a covert way of avoiding a new European Union cap on bonuses.
Treasury sources told Sky News that a circular to shareholders
disclosing Lloyds move to seek approval for higher payments is
expected to be distributed in the coming days.
Sky news said Lloyds also plans to table a resolution that will ask
investors to approve the ability to pay a scrip dividend for the
first time since it was bailed out by taxpayers.
The bank will also put forward a resolution seeking approval to draw
up a prospectus for a possible sale of shares to the general public,
the news service said citing sources.
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Lloyds declined to comment on the Sky report.
Bankers' pay has come under intense scrutiny after scandals ranging
from the rigging of interest rates to breaches of anti-money
laundering controls and the mis-selling of loan insurance and complex
interest rate hedging products.
(Reporting by Aashika Jain in Bangalore; editing by Andrew Hay)
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