The limits on bonuses would also apply to bankers employed by E.U. banks but working outside the bloc, in New York, for example. The E.U. authorities are drafting separate rules that could restrict remuneration at private equity firms and hedge funds.

‘'This legislation was resisted tooth and nail by the industry,'’ said Philippe Lamberts, a Belgian member of the Parliament’s Green bloc.

While the battle has often been portrayed as pitting Britain against the Continent, Mr. Lamberts said, the reality has been that ‘'many in Paris, as well as Frankfurt and Berlin, were not too happy'’ about what was happening in Parliament, but were glad to let Britain take the heat for leading the opposition.

The law is intended to reduce the financial incentives that led bankers to take risky bets, like those made on subprime housing debt in the United States during the credit bubble. But some critics of the legislation have warned that institutions might defeat the intent of the legislation by simply raising bankers’ base pay.

Mark Boleat, the policy chairman at the City of London Corp., which is the voice of London’s financial center, said Thursday that ‘'removing flexibility from pay arrangements in this highly cyclical industry would seem counterintuitive, especially if it leads to higher fixed salaries.'’

Some bankers said the rule posed the question of why the bonus cap would not apply to other industries where staff members stand to gain large bonuses. Stephen Hester, the chief executive of Royal Bank of Scotland, told BBC radio on Thursday morning that he did not think ‘'bankers should be treated as special creatures in any way.'’

‘'Perhaps one of the problems of the past was bankers got to a point where they thought they were special creatures,'’ Mr. Hester said. ‘'So I think we should apply rules to anyone whatever these rules may be.'’