Lunchtime Links: Banks are offering loans to compensate for low cash bonuses

It happened last year, when Goldman reportedly made loans available to its cash strapped partners, and it appears to be happening again.

The Wall Street Journal reports that Goldman has, "let a small number of employees take out loans through the company's banking unit," that RBS is offering loans against unvested stock, and that UBS is contemplating reinvigorating a programme it also ran last year when it made 'in-house credit' available to its employees.

It's not clear whether Goldman's loans will be made to its London partners, whose pay will be capped at 1m this year. And it seems strange that UBS employees have continuing need of loans given the dramatic increases in their salaries over the past 12 months.

One place where employees could undoubtedly benefit from a loan is Swedbank, where all non-guaranteed bonuses have been cancelled this year. Fortunately, the bank closed its London office several years ago.

Has Goldman realized it simply doesn't need to pay as much? (Baseline Scenario)

19% salary increase, no 2009 bonus for Moynihan. (Bloomberg)

VTB plans a "second wave" of senior hiring. (Bloomberg)

"Look, I am not interested in punishing banks." (Guardian)

Alistair Darling is to hold private talks with an elite group of City bankers in Davos on Friday. (Guardian)

UK government could take seven years to sell all its bank stakes. (Bloomberg)

Michael Geoghegan walked into his new [Hong Kong] office on the dot of nine o'clock yesterday morning. (The Times)