China's Banking Regulatory Commission recently called for a reduction in the salary levels for senior officers in commercial banks. The move, suggested amid an economic slowdown, has aroused heated discussion.

The Beijing News carried a commentary, suggesting that paying those senior bank officers with non-performing assets may be a better choice.

The article refers to a measure adopted by Credit Suisse. The Swiss financial group has decided to pay its top managers and executives with dodgy, illiquid assets it accumulated on its balance sheet during the credit boom.

In essence, Credit Suisse has put together a raft of non performing assets into what it calls a Partner Asset Facility - and is handing out shares in this facility instead of cash bonuses.

The writer says the measure could bring several benefits - for example - it will help reduce the financial costs of the bank, which will not have to pay so much cash for year end bonuses.

Besides, it's possible that recipients could earn a profit from temporarily non-performing assets. And the reduction of cash needed to pay senior bank staff salaries can also ease the resentment of stake holders and the public.

The article concludes that paying senior officers with non performing assets will further encourage those top managers to perform better because it's in their own interest.

The value of the shares in the facility are determined on whether the bad loans mature or default.