Daniels sacrifices bonus
Eric Daniels, the chief executive of Lloyds Banking Group, will make a personal statement today to MPs on the Treasury Select Committee that he won't be taking his bonus for 2008.
You may feel that's a "dog bites man" kind of story. Surely no senior executive of a bank would dare take a bonus in the current climate?
And in the case of Lloyds Banking Group, it would be doubly controversial for Mr Daniels to receive a so-called payment for success, in that its share price has tumbled (along with that of all banks) and taxpayers have taken a stake of 43% in the group.
But until just a day or two ago, Lloyds was insisting that the board was still planning to pay bonuses to its executives directors, because (it said) the group had performed better than its peers.
It did make one concession to the growing climate of hostility towards bonuses for bankers.
When Lloyds received an injection of funds from taxpayers in October to shore it up, Lloyds did say that all bonuses for executive directors would be payable in shares.
So how much is Mr Daniels giving up?
Well, he's entitled to receive up to 225% of his basic salary of just over £1m (which rose 7.8% last year).
In other words, the bonus could have been more than £2m.
But to be clear, his statement to MPs will be a personal one - it does not represent policy by the board of Lloyds Banking Group.
Or, to put it another way, Lloyds' non-executive directors are yet to decide whether the five other executive directors on the board should receive their bonus entitlements of up to £6m in total.
They, however, will today be assuming that their bonuses are also dead and buried, because it's difficult to see how they could take the reward if their leader is refusing the icing on his cake.