Barclays: 'Judge us on our pay'
Marcus Agius, the chairman of Barclays, says in his statement today that banks will be judged by how they conduct their business and how they lend and pay.
He hopes that Barclays will be given credit for lending an additional £35bn to UK households and businesses in 2009, significantly more than its commitment to provide £11bn.
He also points out that neither John Varley, Barclays' chief executive, nor Bob Diamond, the president of the bank, are taking a bonus for their performance in 2009.
Mr Varley will have to get by on his basic pay, which last year was just over £1m.
But bonuses for top Barclays employees in general were very substantial indeed.
In total, the bank is paying £1.5bn in immediate cash bonuses, and a further £1.2bn in deferred cash payments or shares.
Some 22,000 investment banking staff are receiving £191,000 each on average in salary and bonuses - of which £95,000 is a discretionary bonus.
Not a trivial sum - which some will say stems from a windfall generated by the emergency rescue of the global economy undertaken by governments and central banks, an emergency rescue that was needed in large part because of the havoc wreaked by the excessive risk-taking of banks.