The Bank of England (BoE) has said that it is planning to take steps to prevent excessive risk taking by banks in the UK.

Under the new rules proposed the central bank, misbehaving bankers and their bosses will be forced to give backbonuses up of up to six years. The aim of the new regulations to restrict bankers taking huge bets. The rules have been put out for consultation by the central bank yesterday and will be adopted after receiving comments and recommendations from various sections.

The new rules marks a new set of strict regulationsthat allow only for the cancellation or reduction of parts of bonuses that were awarded to the senior executives but not yet paid to them. MP's had asked for strict rules in a report on banking standards that was compiled following much public anger over huge risks in the industry. People are angry over some banks paying huge bonuses even though banks made losses and taxpayers money was used to save the banks. New rules will makesenior bankersreturn bonuses if they are found to have misbehaved even if they did not work at he bank.

"The policy we are consulting on will ensure bonuses can be clawed back from individuals, where they have already been paid, if it becomes apparent they have put the stability of their firms at risk or engaged in inappropriate actions," said BoE deputy governor Andrew Bailey.