It yet another sign that more banks are feeling the pressure on big bonuses, Barclays has agreed to defer 2009 bonuses. Under the plan, the 11-member executive committee, including Bob Diamond, head of Barclays Capital, will defer up to 100 percent of their bonuses for up to three years.

According to the Financial Times, the next roughly 2,000 executives would defer roughly 75 percent of their bonuses for three years. Others would defer about 50 percent of their bonuses. It's unclear if these bonuses are to be paid in stock or cash. You might think this is related to the United Kingdom's move to tax bonuses at 50 percent.

The FT says, "Deferring pay does nothing to mitigate the bank's liability to the UK's 50 percent supertax on bonus pools." That may be true. But it's unclear when the liability for the bonuses kicks in, when the bonus are realized as pay or when granted. This may be a ploy to wait out the tax, hoping it will be repealed after this year. 

For more:
- here's the article

Related Articles:
More signs of backlash
Bank fee a reflection of lingering anger
Citi's bonuses better than Goldman's?
The U.K.'s war on banks
Goldman Sachs vs. the UK