Regional/ International

Credit Suisse will pay $4.5 million and Bank of America Merrill Lynch will pay $3 million to resolve Financial Industry Regulatory Authority claims that they misrepresented delinquency data in issuing residential subprime mortgage securitizations.

JP Morgan and Lehman Brothers Holdings have settled a dispute over $222.3 million in claims on the defunct firm that the second-biggest U.S. bank inherited when it bought Washington Mutual Bank after Lehman’s September 2008 bankruptcy.

Middle East

The Central Bank of Oman has allowed commercial banks operating in the country to open windows offering Islamic banking products, and also approved the application for opening an Islamic bank called Bank Nizwa.

Oman Development Bank recently launched an advertisement campaign through various channels including TV, radio and print to promote ‘Izdihar’, a product for fixed deposits.

BankDhofar has signed a three-year bilateral loan facility for $20 million with BBK, Bahrain’s pioneer in retail and commercial banking to provide BankDhofar with additional funds for general use.

Indochina

The Ho Chi Minh City branch of BNP Paribas has signed a cash management service agreement with Vietnam’s Orient Commercial Bank (OCB) and will be able to offer cash management services to its local and MNC clients through OCB’s branch network.

The Bank for Investment and Development of Cambodia has opened its first branch in Hanoi, aiming to boost financial trade between Vietnam and Cambodia.

South Asia

Reserve Bank of India has announced a series of measures, including more flexibility on issuing corporate guarantees to foreign subsidiaries and easier norms for divesting stakes in overseas units, aimed at helping companies boost investment in overseas units and giving them greater operational flexibility to expand their global footprint.

Indian Bank has hired Kotak Mahindra Capital, Enam Securities, SBI Capital Markets, and ICICI Securities to manage its public share sale of at least $222,454.

Meezan Bank, Pakistan’s first and largest Islamic commercial bank, and Western Union, have entered into a collaboration under which Meezan Bank will provide the Western Union Money TransferSM Service.

Australia/New Zealand

Westpac has received final regulatory approval to open a branch in Beijing. The planned location for the branch is in the World Finance Centre in Beijing's central business district. 

ASB Bank, New Zealand's fourth-largest lender, will buy back $164 million of subordinated debt. The notes, issued in June 2006, are callable on June 15.

China

Citigroup has entered into an agreement to form a joint venture with Chinese securities firm Orient to underwrite stocks and bonds for companies in China. The joint venture is still pending Chinese regulatory approval. 

People's Bank of China has for the first time issued e-payment licenses to select third-party payment service providers. The license covers online payments, card and pre-paid card acquisitions. 

Bank of China’s Zhou Zaiqun has resigned as executive director, member of the board's special committees and executive vice president of the bank, as he will be transferred to work in Hong Kong. 

The Royal Bank of Scotland and Guolian Securities have opened a securities joint venture company in China, Huaying Securities. Huaying Securities is the first securities JV in China involving a UK domiciled bank and the first securities JV launched in China this year.

Hong Kong

The Hong Kong Monetary Authority has announced that all banks will finish upgrading their ATMs to have chip-reading capability by the end of February 2013.Upgrades and card replacements are scheduled to start early next year.

HSBC and Bank of China will be co-arrangers in the selling of up to $1.3 billion in inflation-linked bonds early in the third quarter of this year to ease the sting of rising prices.

Indonesia

Indonesia's central bank lifted its ban on new business in wealth-management services for nearly two dozen banks, though the local unit of Citigroup will still face restrictions.

Japan

Development Bank of Japan will be setting up a fund to inject capital into auto-parts makers hit hard by the March 11 earthquake and tsunami in a bid to ease supply bottlenecks and help one of the country's key export sectors more quickly back to its feet. 

Bank of Tokyo-Mitsubishi UFJ has obtained approval from Chinese authorities to open a new office in Beijing this year, its 15th business base in China and 100th overseas.

Korea, South

Hana Financial Group and Lone Star Funds have agreed to extend the deadline for Hana's proposed $4.3 billion acquisition of a controlling stake in Korea Exchange Bank from the U.S. investment fund.

Standard Chartered may be taking the opportunity of consolidation rumours to exit Korea, recouping its $3.3 billion investment.

Malaysia

Agrobank has appointed Wan Mohd Fadzmi Wan Othman as its new managing director. Prior to that, he was attached to Maybank Group for 22 years and has held various management positions including as the general manager/head of the bank's branches in London, New York and Hong Kong. 

Shirley Leong has been appointed as head of global payments and cash management, Malaysia, for HSBC. Leong takes over from Jason Tan who was recently appointed as the new regional head of client management in Asia.

The Philippines

Japan's Marubeni and Security Bank have signed an agreement for a leasing joint venture, Security Finance. Security bank will own 60%, with Marubeni holding 40%. 

Security Bank, currently ranked eleventh largest in terms of assets among Philippine banks has bought Premiere Bank as part of its expansion plans, in a deal worth $30 million.

Singapore

Standard Chartered Bank has appointed Michele Wee as global head of E-Sales to lead the team responsible for setting and executing the bank’s e-strategy across the fixed income, currencies and commodities businesses.

Taiwan

Amy Tsao currently head of investment banking for Nomura Taiwan, has been also appointed as branch manager of Nomura Taiwan, succeeding Albert Weng.

Bank of Taiwan has signed an agreement with Bank of Communications to cooperate on loans, trade financing and personnel training.

Thailand

The Bank of Thailand is considering allowing small and medium-sized enterprises to trade foreign exchange futures contracts and may later let brokerage firms operate foreign exchange trading like commercial banks.

Malaysia-based RHB plans to aggressively expand its banking business in Thailand including through acquisitions aiming to increase its asset base here to approximately $826 billion.

The head of Thailand's stock market watchdog agency resigned after he was accused of being involved in a takeover attempt of a listed company.