None of Commonwealth Bank's top management, including chief executive Ian Narev, will receive a short-term bonus this year, as a result of the bank's alleged mass breaches of anti-money laundering laws.

Chairman Catherine Livingstone on Tuesday said the board had decided to cut short-term incentives for the year to June 30, 2017 for the group executives, and fees paid to the board of directors would also be cut by a fifth.

"In reaching this conclusion, the overriding consideration of the board was the collective accountability of senior management for the overall reputation of the group," she said in a statement.

"The board also recognised that it has shared accountability and therefore has decided to reduce non-executive director fees by 20 per cent in the current 2018 financial year."