Keywords:

"If someone can't behave with their colleagues and can't be part of the culture, it doesn't matter how good they are at what they do, they have to be asked to leave."
Barclays CEO Bob Diamond, on 30 he fired for alleged prima donna behaviour



The following are notes from our Monday morning meeting.


The European Banking Authority wants banks to raise another $152.7b, following stress tests; Spanish banks need the most, $35b, and Italian banks $20.5b. Read our comment here.

The UK’s FSA will today release a report confessing that it did little fundamental analysis of banks before 2007.

Spain’s Banco Santander will sell its Colombian operations to Chile’s CorpBanca for $1.23b; it also sold a 7.8% stake in its Chilean unit for $950m, and sold NPLs worth $8.81b in Brazil.

The UAE's central bank set new liquidity rules, after earlier saying that they weren’t needed.

Japan’s Mitsubishi UFJ spent $432m for a 15% stake in AMP, an Australian fund manager.

China’s PBOC will set up an investment vehicle with $300b in foreign reserves, somewhat smaller than SWF CIC, which has $400b.

The IMF warned that Hong Kong’s banks may need to provide deposit guarantees again should the economy slump with a worsening Eurozone crisis.

Vietnam’s central bank will take a stake in and merge liquidity-challenged lenders De Nhat Commercial Joint Stock Bank, Vietnam Tin Nghia Bank and Saigon Commercial Bank.

The Philippines’ central bank approved seven mid-sized banks to open a total of 162 branches in cities, the first since a branch ban for urban areas was introduced in 1996.

State Bank of India is planning to set up 40,000 new ATMs by 2013, doubling its current level and giving it nearly half of all units in the country.

Australia's ANZ says it will review interest rates fortnightly, not in concert with the central bank’s rates.