Although most banks have yet to announce either the percentage of 2009 bonuses to be deferred, or the length of their deferrals, some clarity is emerging. As things stand, this is what’s currently known (and what’s rumoured) about each bank’s bonus plans.

Barclays Capital

Percentage deferred: Barclays hasn’t said anything on the record, but according to the New York Post, it intends to defer 75-80% of this year’s payouts.

Deferral period: Rumoured (also in the New York Post) to be up to five years.

Clawbacks? Not clear.

Salary increases? Barclays says its reviewing the amount it pays in basic salaries.

Guarantees The bank says it’s ‘complying with G20 guidelines’ on guarantees, implying that it’s not paying guarantees lasting more than one year.

BofA Merrill Lynch

Percentage deferred: Not yet clear. Last year BofA tried to defer 70% of the bonus pool over three years, but was forced to reduce this to two years when staff complained following the payment of large bonuses at Merrill Lynch.

Deferral period: Options vest over three years, with a third becoming available in each year.

Clawbacks? Yes. Feinberg is able to clawback pay at any bank in receipt of substantial TARP funds.

Salary increases? Huge. Some managing directors said to be on 300k. VPs said to be on 120k.

Guarantees? Yes. Big guarantees paid to new hires like Sanaz Zaimi (rumoured 24m over two years). Guarantees also said to have been paid to retain existing staff.

BNP Paribas, SocGen, and Calyon

Percentage deferred: Under new French bonus rules at least 50% of all bonuses must be deferred; that figure will rise to 60% for higher amounts. In August, BNP agreed to halve its bonus pool to €500m for the first half; this applies only to the cash component of its payouts.

However, according to Options Group deferrals at BNP Paribas will occur on a sliding scale: below €150k euros, everything will be paid in cash; between €150-350k, 25% will be deferred; between €350-500k 35% will be deferred; and above €500k 50% will be deferred.

Deferral period: At least three years.

Clawbacks? Yes.

Salary increases? No.

Guarantees? Yes, but restricted to one year.

Citigroup

Percentage deferred: Not clear.

Deferral period: Thought to be four years.

Clawbacks? Yes.

Salary increases? Huge. Some managing directors said to be on 300k. However, Citigroup is affected by Kenneth Feinberg’s compensation diktat, which restricts the salaries of 25 specified ‘senior executives’ to 300k and says up to 90% of base pay must be deferred. Existent TARP restrictions say people in this cohort are also unable to receive more than a third of their total payment in the form of a bonus.

Guarantees? Yes. Biggish guarantees rumoured for Rachel Lord and Stefanos Bitzakidis. Options Group says Citi is offering key employees in rates and mortgages verbal guarantees, or “floors”, of $1m to stay.

Commerzbank

Percentage deferred: 66%.

Deferral period: Three years

Clawbacks? Yes

Salary increases? Not clear.

Guarantees? Not clear.

Credit Suisse

Percentage deferred: Bonuses below CHF125k ($100k) will be paid entirely in unrestricted cash. Above this, a variable proportion (determined by a secret table) will be deferred. Of the deferred element, 50% will be paid in Scaled Incentive Share Units (SISU) linked to the bank’s share price and RoE; the other 50% will be paid in Adjustable Performance Plan Awards (APPA), based on the bank’s RoE.

Deferral period: SISUs are deferred over four years. APPAs are deferred over three years.

Clawbacks? Yes. APPAs are adjusted downwards if an employee’s business area is loss making.

Salary increases? Yes. Higher base, lower bonuses for managing directors and directors.

Guarantees? Not clear.

Deutsche Bank

Percentage deferred: Up to 75%. Options Group reports that the bank is paying 50% stock, 25% deferred cash, and 25% immediately accessible cash for mid-to senior level professionals, with more junior staff receiving a higher proportion in cash. Deutsche Bank has said very little about its compensation policy, except that it’s made only small changes and that a higher proportion than last year will be deferred. Last year, we understand bonuses up to 100-150k (depending on division) were paid entirely in cash.

Deferral period: Three years

Clawbacks? No.

Salary increases? No.

Guarantees? Yes. Deutsche may be unaffected by the British government’s request that guaranteed bonuses in the City are limited to one year as its London operations are a branch office and don’t fall under the jurisdiction of the FSA.

Goldman Sachs

Percentage deferred: Not clear. Rumoured to be 50%.

Deferral period: Three years. Senior executives are required to hold 75% of their stock until they retire.

Clawbacks? No.

Salary increases? Yes, Options Group reports new $600k salary for partner MDs; $400k salary for MDs.

Guarantees? Yes, but never for more than one year.

JPMorgan

Percentage deferred: Not clear.

Deferral period: Three years. Nothing in year one; 50% in year two, 50% in year three.

Clawbacks? Yes, but only in the event of dishonest and improper behaviour.

Salary increases? JPMorgan recently said it will be lifting its salary freeze early next year. According to insiders it’s expecting to increase salaries “in line with the market,” although it’s not expected to increase them to the extent of UBS, BofA Merrill or Citigroup.

Guarantees? Yes, although like other US banks in the City JP Morgan has signed up to the British government’s requirement to restrict guarantees to one year.

Morgan Stanley

Percentage deferred: Not clear.

Deferral period: Three years.

Clawbacks? Yes. Morgan Stanley has a clawback which is active for three years after compensation has been paid, and which is triggered by ‘conduct detrimental to the company or one of its businesses.’

Salary increases? Yes. In May, Morgan Stanley reportedly increased base salaries for MDs to $400k, up from $250k. 25-30% of total comp will come from base salary in future, up from 15-20% historically. Options Group reports that a select few Morgan Stanley bankers will receive base salaries of $1m.

Guarantees? Yes.

RBS

Percentage deferred: Most staff will receive 50% of their 2009 payment in paper immediately convertible into cash in June 2010. A further 25% will be available in June 2011, with the remainder available in June 2012. Senior managers will receive 33% of their bonus each year, spread over three years. Executive directors will receive nothing until 2012.

Deferral period: Three years for most staff.

Clawbacks? Yes.

Salary increases? No, but rumoured hike in flexible benefits package.

Guarantees? Big ones. Think Antonio Polverino.. As with other banks in the City, RBS has, however, agreed to the British government’s ban on multi-year guarantees.

UBS

Percentage deferred: ‘The larger the bonus, the bigger the deferred equity compensation.’ Some MDs and SVPs/directors said to receive 100% stock bonuses last year.

Deferral period: Not clear. Last year’s bonuses vested over three years.

Clawbacks? Yes.

Salary increases? Yes – big ones. Some MDs at UBS now said to be on 300k. Bonuses to be reduced as a result.

Guarantees? Yes. Rajeev Misra said to have joined on generous package.