03:16 PM EDT, 04/19/2024 (MT Newswires) -- (Updates with details.)

Banking regulators are looking to revive a proposal that would require big banks to defer executive compensation and allow them to dock more of their bonuses if losses mount, the Wall Street Journal reported, citing people familiar with the matter.

Officials from the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and four other agencies will propose the measure in the coming days, the report said.

The report cautioned the agencies might not necessarily proceed with the measure.

Limitations on the compensations were previously proposed during the Obama administration following the 2008 financial crisis, which led to the creation of the 2010 Dodd-Frank financial law.

The 2010 financial overhaul mandated the pay rules, but were never implemented due to industry opposition.

The Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency, and the Federal Reserve did not immediately respond to requests for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)