The agreement limits bonus payments across the EU to, at most, twice bankers' annual salaries.
Prime Minister David Cameron has insisted that it must be implemented in a way that takes into account the position of London as a global financial centre.
Banks have increased salaries across Europe by 37 per cent in the past four years in response to the current crackdown on bonuses.
More top news
Scotland's Justice Minister is under pressure from political opponents over revelations Police Scotland carried out illegal surveillance.
Andy Murray has beaten Belgian David Goffin to win the Davis Cup for Great Britain for the first time since 1936
Mercedes' Nico Rosberg has won the season-ending Abu Dhabi Grand Prix, with team-mate Lewis Hamilton coming second