Exclusive: Fed pushes banks to ignore rivals when setting bonuses

By way of Lauren Tara LaCapra NEW YORK (Reuters) – The Federal Reserve is pushing banks to disregard rivals' performance when awarding bonuses, and focal point squarely on their own profitability, in step with pay consultants and other folks acquainted with the topic. The relevant bank is hoping to change a deeply ingrained dependancy on Wall Boulevard: awarding bonuses to senior executives based totally partly on whether or not the corporate's efficiency lagged or beat rivals. …