LONDON, Aug 8 (Reuters) - Barclays ( JJCTF ) has become

the latest bank to drastically revise a cap on bonuses for its

top bankers in Britain, an internal memo seen by Reuters showed

on Thursday.

The lender's senior bankers will now be able to earn payouts

of up to 10 times their base salary, up from a two-to-one ratio

previously imposed by the European Union back in 2014 when the

UK was a member.

"The revised bonus cap will not alter the way Barclays ( JJCTF ) sets

its incentive pool, which is based on overall Group

performance," a spokesperson for the bank, who confirmed the

contents of the memo, said.

"It will allow us greater flexibility to differentiate

individual bonuses within a small and defined group of

colleagues," he added.

Banks including Goldman Sachs ( GS ) and JPMorgan ( JPM ) have already made

similar moves to their variable compensation structures for

their top UK-based bankers.

Barclays ( JJCTF ) shareholders voted in favour of a proposal by the

bank to remove the cap at its shareholder meeting this year.

The EU originally set the restrictions on pay in an effort

to curb excess risk-taking at banks following the 2008 financial

crisis.

Britain's financial regulators last October said they would

remove the bonus cap, in a bid to increase the competitiveness

of the country's financial sector.