BofA Said to Cut Bonuses for Rates Traders at Least 15% By Hugh Son, 2014 9:05 AM ET Bank of America Corp., the second-largest U.S. lender, cut the bonus pool for interest-rate traders by 15 percent to 20 percent as revenue fell, said two people with direct knowledge of the matter. âRates guys were among the worst-hit last year,â Michael Karp, chief executive officer of recruitment firm Options Group Inc., said in a phone interview. âIt was a very tough year in terms of keeping up with the markets and generating revenue.â Interest-rates trading revenue at the 10 largest global investment banks fell 40 percent in the first nine months of last year, and probably dropped 42 percent for all of 2013, according to industry analytics firm Coalition Ltd. http://www.bloomberg.com/news/2014-...es-traders-said-to-shrink-at-least-15-1-.html