Deutsche Bank's co-chief executives will have their total pay for 2013 capped at $13m each, according to the agenda for the company's annual shareholders' meeting.
Reuters reports that under the terms of the lender's compensation system for this year, Anshu Jain and Juergen Fitschen's bonuses will be capped at $9.85m and their fixed salaries at $3.0m.
The move comes after European Union lawmakers last month moved to introduce a pan-European rule to cap bonuses and as Germany gears up for national elections in September.
Jain has already agreed to waive part of his bonus for 2012.
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