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LTU and Bank Agree Bonus Defferal Arrangements
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Date: 19th May 2009
Members should have received details of the Bank’s proposal to offer loans for those bonuses deferred following the Group’s participation in the Government’s Asset Protection Scheme.
LTU first proposed that staff whose bonuses had been deferred should have the option of taking part of that bonus in the form of a loan. The Bank accepted that principle and we have now agreed the details of how such a scheme would work.
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