Keywords: Institute Of International Finance, US FDIC, Bank Of England, Central Bank Of Nigeria, Lamido Sanusi, Qatar National Bank Group, National Societe Generale Bank, BofA, Mitsubishi UFJ Financial Group, PBoC, BoC Taiwan, Vietinbank, Commerzbank, ChinaTrust Commerical Bank, Mega International Commercial Bank, Nomura, Cezar Consing, Bank Of Philippine Islands, RBI, Westpac

"The problem will be in the exit(ing) from these policies."
Reserve Bank of Australia governor Glenn Stevens warning that quantitative easing is blurring the distinction between monetary and fiscal policy.


The following are notes from our Monday morning meeting.

Tim Adams, MD of Lindsey Group, will succeed Charles Dallara as MD of the Institute of International Finance, with Hung Tran becoming First Deputy MD.

US FDIC and Bank of England will allow regulators to fire executives, and force shareholders to take losses should SIFIs fail. Read our comment.

Central Bank of Nigeria governor Lamido Sanusi and 14 others have been threatened with arrest over $8b allegedly owed to the treasury, following his calls for a leaner government.

Qatar National Bank Group acquired Societe Generale’s Egyptian unit, National Societe Generale Bank, for $1.98b.

BofA will dissolve its Japanese private banking joint venture with Mitsubishi UFJ Financial Group.

China’s PBoC chose Bank of China’s Taipei branch to clear renminbi transactions in Taiwan.

Vietnam’s Vietinbank signed a $65m loan agreement with Commerzbank, ChinaTrust Commerical Bank, Mega International Commercial Bank and Nomura to boost lending for SMEs.

Cezar Consing will succeed Aurelio Montinola III as president and CEO of Bank of Philippine Islands.

India’s RBI simplified bank account opening norms by abolishing requirements to provide separate proof for identity and address.

Australia’s Westpac will spend $240m to overhaul its branch network, reducing frontline staff and adding “smart” ATMs offering more services such as depositing or changing cash.