British finance minister Alistair Darling plans an independent review of the management of banks and their bonus structure.
Writing in the Sunday Telegraph newspaper, he stated: "We cannot return to business as usual."
The review will make recommendations about the effectiveness of risk-management by the boards of banks, including how pay affects risk-taking.
The paper said Mr Darling would announce who would chair the review and its terms of refence on Monday.
In October, he and Prime Minister Gordon Brown announced a bailout plan for British banks that have lost market confidence.
MPs will question executives from a range of banks including Lloyds, HBOS, Royal Bank of Scotland, HSBC, Barclays and Banco Santander on Tuesday and Wednesday next week.