The Federal Deposit Insurance Corporation’s (FDIC) five-member board has voted in favor of a draft rule written jointly with six other regulators, The Wall Street Journal reports. The rule will require large financial firms to hold on to at least half of top executives’ bonuses for three years or longer.

The deferral requirement, if approved, will be applicable to firms with $50 billion or more in assets, such as Morgan Stanley, Goldman Sachs and mortgage-finance giants, Fannie Mae and Freddie Mac. The board has also approved a rule that will shift the responsibility of paying for the agency’s deposit-insurance fund from the smallest banks to the biggest banks, as directed by the Dodd-Frank legislation.

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