A handful of executives at the Royal Bank of Scotland could see their monthly wage almost double to compensate for the new European Union bonus rules, according to media reports.

The European Commission has installed a new limit on bankers' bonuses, which means extra pay will be capped at 200% of their salary.

The law, which comes into force from January 2014 and will apply to bonuses paid in 2015, is intended to discourage irresponsible risk-taking and curb the bonus driven culture in banking following the financial crisis.

The Royal Bank of Scotland's salary and bonus practices have come under close scrutiny in the past. RBS received a taxpayer funded £45bn bailout in 2008, which eventually led it to be 81% owned by the government.

RBS said in a statement that "there are no plans to implement widespread base salary increases across our markets division and we are not consulting with shareholders on any such moves."

Although basic salaries have dropped since 2008, the average annual pay per head at the markets business stands at £108,000, which is based upon pay in the first nine months of 2013.

In 2009, RBS bankers were, on average, earning £174,000 a year.

RBS told IBTimes UK that "no decisions have been taken on 2013 pay and any speculation is premature."

Written and presented by Alfred Joyner