Bank bonuses 'should be deferred for up to 10 years' Andy Haldane, executive director for financial stability at the Bank, told politicians on Monday that the current window is "far too short to capture the cycle in credit" and a period of five to 10 years would be better. "We had roughly a 20-year boom in the run-up to this crisis, so measuring performance only over a three or five-year window is far too short," he added. European regulators agreed on tougher bonus rules in 2011, including minimum three-year deferrals, blaming large cash payouts for encouraging the type of risk-taking that led to the 2008 collapse of Lehman Brothers and the subsequent financial crisis. Mr Haldane, who is also a member of the Bank of England's Financial Policy Committee, said there's a case to lengthen that deferral period further. "Progress has been made on remuneration codes internationally and domestically over the last three or four years," he said at a hearing of the Parliamentary Commission on Banking Standards. But for my money, they still fall somewhat short of the standards of prudence I would wish to see embedded. His comments come as a survey published on Monday showed that nearly a quarter of bankers fear they will not receive a bonus this year as regulatory pressures weigh on pay in the financial services sector. A survey of more than a thousand City workers by recruitment firm Astbury Marsden revealed the percentage of them expecting a "doughnut," or zero bonus, in the current pay season has doubled to 22pc compared with the same time last year.