Briefs: BOQ claws back bonuses and ANZ on cruise control

Bank of Queensland is using a new model for payment of bonuses to its lending staff that includes provisions for the claw back of the bonuses as loans turns bad, the Financial Reviewreported in its Chanticleer column. The model, which applies to core bank staff, is similar to that used to pay finance brokers. The AFR reported on the new bonus policy is an review of the issues leading to the bank's loss in the half year to February 2012 and a capital raising of A$450 million.

ANZ will spend less per head on a holiday reward for staff next year under a program designed to motivate front-line staff. The Herald Sun reports that spending per head will be around A$10,000 this year, or around half the cost estimated by the newspaper for the five-day Malaysian cruise provided as the holiday reward this year.