Keywords:

"Mortgages get paid in good times and in bad."
Banco Santander CEO Alfredo Saenz on fears that Spanish mortgage arrears will surge as unemployment rises..



The following are notes from our Monday morning meeting.

The largest US banks are accusing the Federal Reserve of attempting to misuse the Dodd-Frank law to scale them down.

The European Central Bank is proposing a reform of "dark pools" stock trading to increase transparency of trading prices.

African Development Bank president Donald Kaberuka has pledged $45 million in budget financing for Malawi as it attempts to resume economic reforms.

Iraq’s central bank has given permission to Qatar National Bank to increase its stake in Mansour Bank from 23% to 51%.

Tatsuo Tanaka, current deputy president of Mitsubishi UFJ Financial Group, is likely to be made next chairman of Citigroup Japan.

The China Banking Regulatory Commission has approved the merger between Shenzhen Development Bank and Ping An Bank.

Asian Development Bank will resume financial aid to Myanmar after a 24-year suspension, but only when the government repays $500 million in debt.

S&P’s has cut rating outlooks of India’s top 10 banks, including SBI, ICICI Bank and HDFC Bank.

St George Bank has assured employees that no one would lose their jobs even though it will outsource 200 IT jobs to IBM.