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"What we are advocating is that this be done without channelling through the sovereigns."
IMF chief Christine Lagard on how direct funds injection into banks would lessen the risk government balance sheets.



The following are notes from our Monday morning meeting.

The World Bank has named U.S. nominee Kim Jim Yong as its new president.

HSBC is set to be the first European bank to launch an international Rmb-denominated bond in London.

South Africa Reserve Bank deputy governor Lesetja Kganyago is concerned with the rapid increase in unsecured lending in the country.

Mitsui Sumitomo Insurance is acquiring 26% in Max New York Life Insurance for $530m, while MUFJ subsidiary Union Bank opened its first commercial branch in Chicago.

PBOC will increase reverse repo operations and cut reserve ratio to release liquidity.

Goldman Sachs sold its $2.3 billion stake in China’s ICBC to Temasek, which now owns 1.3%.

Trading on Cambodia’s stock exchange began after a state-run company completed its with some 13 million shares offered at 6,300 riel ($1.57) each.

Malaysia’s CIMB Group has finalized a $200 million deal to acquire 60% in the Philippines Bank of Commerce, owned by San Miguel Corporation.

The State Bank of Pakistan is scrutinising applications from Habib Bank, Silkbank, MCB Bank and KASB to acquire HSBC Pakistan.

Ian Narev, new head of Commonwealth Bank of Australia, has unveiled plans to expand in Indonesia and China and a $1b technology investment.