The Obama administration plans to require banks and corporations that have received two rounds of federal bailouts to submit any major executive pay changes for approval by a new federal official who will monitor compensation, according to two government officials.

The proposal is part of a broad set of regulations on executive compensation expected to be announced by the administration as early as this week. Some of the rules are required by legislation and would apply only to companies that received taxpayer money.

Others, which are being described as broad principles, would set standards that the government would like the entire financial industry to observe as banks and other companies compensate their highest-paid executives, though it is not clear how stringent regulators will make them.

Citigroup, Bank of America, AIG, General Motors and its finance arm, GMAC, which all received two taxpayer infusions, will face the strictest scrutiny from the new federal official charged with vetting compensation, Kenneth Feinberg. He is known for overseeing payouts to the families of the victims of the September 11 attacks.

In the past, banks had free rein to determine the base salary and bonuses they awarded their employees. When the economy was riding high, bonuses for top Wall Street executives and traders soared to tens of millions of dollars. Critics say the bonuses often encouraged excessive risk-taking since star bankers could walk away with more money even if the bets they took failed to pay off.

But executive pay has been a delicate issue for the Obama administration and Congress, particularly since it was revealed that AIG, the recipient of at least $180 billion in taxpayer money, was handing out $165 million in bonuses. The episode left officials struggling with just how to balance public anger with compensation rules that would not put the industry at a competitive disadvantage or derail other economic recovery initiatives.

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