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"Banks should be financed much more heavily by equity rather than short-term debt. Much, much more equity; much, much less short-term debt." Mervyn King, governor of the Bank of England, who suggested numerous reforms in a recent speech

Spain’s Santander will list 20% of its UK business on the London Stock Exchange in what could be the biggest UK IPO since the financial crisis began.

A US national task force will meet with lenders to address differences in state foreclosure laws to resolve the freeze in proceedings some banks put in place to deal with the foreclosure crisis.

Iraq’s 32 privately-run banks will need to raise an estimated $7b after the central bank raised the minimum capital 400% to $214m.

The embattled chairman of Korea’s Shinhan Financial Group Ra Eung-chan is stepping down, to be replaced by Ryoo Shee-yul, a Shinhan director and the former president of Korea First Bank.

China’s foreign exchange regulator named the big four Chinese banks and Hong Kong’s Bank of East Asia in its investigation of FX irregularities involving $7.34b in hot money inflows.

Malaysia’s Public Bank is establishing a securities operation in Cambodia, joining four other foreign and local underwriters and advisors.

Indian finance minister Pranab Mukherjee wants to keep the interest rates charged by microfinance institutions unregulated if they develop their own code of conduct.

Charles Pink, the CEO of New Zealand's ASB Bank, has resigned after only two years on the job. Ian Park, the retail head, will be acting CEO.