Recently, a new wavelet-based video codec using in-band motion compensated temporal filtering (IBMCTF) was introduced This codec is fully scalable in resolution, quality aid frame-rate. In comparison to an equivalent video coding scheme based on spatial domain motion compensated temporal filtering (SDMCTF), its compression performance when decoding to lower resolutions is very promising. However, since the IBMCTF scheme is based on in-band motion estimation, considerably more motion vector data is generated than in the SDMCTF scheme. Efficient compression of these motion vectors is therefore of utmost importance. In this paper, several solutions for the compression of motion vectors generated by a video codec based on IBMCTF are presented and compared.