Barclays chief executive Antony Jenkins is to waive his bonus for 2012 after a "very difficult" year for the scandal-hit bank.
Mr Jenkins, who took on the role last August, said it was "only right that I bear an appropriate degree of accountability" after devastating reputational blows for the group.
The blows included its £290m settlement for Libor rate rigging.
The move follows reports that Barclays was preparing to pay Mr Jenkins a bonus worth at least £1m for 2012. The maximum bonus he was entitled to was £2.75m - or 250% of his £1.1m salary.