Executives at foreign bank branches will be subject to the new body of rules from APRA that aim to curb excessive bonuses for a few staff.APRA yesterday published a second draft of the rules, which themselves are the Australian version of the wider regulatory response to the perception, valid or not, that slack bonus structures for key staff was one driver of the credit crunch.The rules from the Australian Prudential Regulation Authority are more principles than anything else, and largely require boards to have clear policies, to take advice, and to extend the rules to any sub-contractors with authority to enter into credit risk or market risk on behalf of the bank.The rules in any event apply only to "risk and finance control personnel", a definition narrowed in the latest draft. The rules comes into force from April 2010.