Fitness criteria now applicable to board members will be extended to key bank executive staff under plans to improve corporate governance.
"To strengthen the corporate governance in banks, the fitness and propriety criteria applicable to directors will be extended to executive staff performing key functions in banks," the report said.
"Bonuses and compensation packages of bankers is currently being examined to ascertain if excessive remuneration is being provided and limits may be imposed if considered necessary."
The central bank is also preparing guidelines on consumer protection setting out the minimum standards of conduct when banks deal with customers to reduce "unfair and unethical business practices by banks".
Amendments to the Banking Act have been finalized with provisions to enable the consolidated supervision of banking groups to facilitate mergers and acquisitions for the consolidation of the banking industry and to strengthen bank resolution measures."Directions on integrated risk management and Pillar II of Basel II which relate to additional prudential requirements following the supervisory process to further strengthen the capital planning process of banks, will be issued shortly," the central bank said.