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| Lloyds boss will not take bonus | Lloyds boss will not take bonus |
| (about 1 hour later) | |
| Lloyds Bank chief executive Eric Daniels will tell the Treasury Committee that he will not take his 2008 bonus, the BBC has learned. | Lloyds Bank chief executive Eric Daniels will tell the Treasury Committee that he will not take his 2008 bonus, the BBC has learned. |
| The BBC's business editor Robert Peston says Mr Daniels could have been entitled to a bonus in excess of £2m. | The BBC's business editor Robert Peston says Mr Daniels could have been entitled to a bonus in excess of £2m. |
| Executive pay has come under fire after reports Royal Bank of Scotland was considering paying bonuses, despite being bailed out by the taxpayer. | Executive pay has come under fire after reports Royal Bank of Scotland was considering paying bonuses, despite being bailed out by the taxpayer. |
| Lloyds has said it is still planning to pay bonuses to executive directors. | Lloyds has said it is still planning to pay bonuses to executive directors. |
| The group claimed it had performed better than its peers. His statement to MPs will be a personal one - it does not represent policy by the board of Lloyds Banking Group BBC business editor Robert Peston Read Robert Peston's blog | The group claimed it had performed better than its peers. His statement to MPs will be a personal one - it does not represent policy by the board of Lloyds Banking Group BBC business editor Robert Peston Read Robert Peston's blog |
| Mr Daniels and other bank bosses are set to be questioned later in the second day of an inquiry into the banks' role in the financial crisis. | Mr Daniels and other bank bosses are set to be questioned later in the second day of an inquiry into the banks' role in the financial crisis. |
| He will appear before the committee, together with Barclays chief executive John Varley, RBS chief executive Stephen Hester, Abbey chief executive Antonio Horta-Osorio and HSBC's UK managing director Paul Thurston. | |
| 'Sorry' | |
| On Tuesday, ex-bosses of RBS and HBOS apologised for their banks' failure. | On Tuesday, ex-bosses of RBS and HBOS apologised for their banks' failure. |
| The former bank chiefs also said the bonus culture had contributed to the crisis and needed to be reviewed. | The former bank chiefs also said the bonus culture had contributed to the crisis and needed to be reviewed. |
| Former Royal Bank of Scotland chief executive Sir Fred Goodwin told MPs on the Treasury Committee he "could not be more sorry" for what had happened. | Former Royal Bank of Scotland chief executive Sir Fred Goodwin told MPs on the Treasury Committee he "could not be more sorry" for what had happened. |
| Protest | |
| Former deputy prime minister John Prescott will also present a petition, signed by 13,000 people, to the Treasury Committee, demanding RBS pay no bonuses to its bankers and traders. | |
| Mr Prescott has also written an open letter to RBS chief executive Stephen Hester, calling for him to stop the bonus payout. | |
| In the letter, he calls the decision even to consider paying £1bn in bonuses after the bank posted a loss of £28bn "both morally and economically outrageous". | |
| See how much bank bosses earned in 2007 | See how much bank bosses earned in 2007 |
Bosses' pay at UK banks receiving government support | Bosses' pay at UK banks receiving government support |
|  Position Total pay (including bonuses) 2007 RBS   Sir Tom McKillop Chairman £750,000 Sir Fred Goodwin Group chief executive £4,190,000 Johnny Cameron Chairman, global markets £3,256,000    HBOS   Lord Stevenson Chairman £821,000 Andy Hornby Chief executive £1,926,000 Peter Cummings Chief executive, corporate division £2,606,000    Lloyds TSB   Sir Victor Blank Chairman £661,000 J Eric Daniels Group chief executive £2,884,000 Terri Dial Group executive director £1,995,000    Bradford & Bingley   Rod Kent Chairman £265,000 Steven Crawshaw Group chief executive £1,112,548 Chris Wilford Group finance director £700,572    Northern Rock   Matt Ridley Chairman £223,000 Adam Applegarth Chief executive £785,000 David Baker Deputy chief executive £476,000 |  Position Total pay (including bonuses) 2007 RBS   Sir Tom McKillop Chairman £750,000 Sir Fred Goodwin Group chief executive £4,190,000 Johnny Cameron Chairman, global markets £3,256,000    HBOS   Lord Stevenson Chairman £821,000 Andy Hornby Chief executive £1,926,000 Peter Cummings Chief executive, corporate division £2,606,000    Lloyds TSB   Sir Victor Blank Chairman £661,000 J Eric Daniels Group chief executive £2,884,000 Terri Dial Group executive director £1,995,000    Bradford & Bingley   Rod Kent Chairman £265,000 Steven Crawshaw Group chief executive £1,112,548 Chris Wilford Group finance director £700,572    Northern Rock   Matt Ridley Chairman £223,000 Adam Applegarth Chief executive £785,000 David Baker Deputy chief executive £476,000 |
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