Keywords: US Fed, Banco Santander, Barclays, Emirates NBD, BNP Paribas, CBRC, Japan Post Bank, Mizuho Corporate Bank, Banque Pour Le Commerce Exterieur Lao Public, CIMB, RBI, ASB Bank, BNZ, Kiwibank

"We are being criticised – rightly."
Jurgen Fitschen, Co-CEO of Deutsche Bank apologising for his call to the Hesse state governor complaining about police raiding the bank.


The following are notes from our Monday morning meeting.

The US Fed will require large foreign banks to meet local capital and liquidity rules for their US operations and subject them to stress tests.

Spain’s Banco Santander will absorb subsidiaries Banesto and Banif into the Santander brand, closing 700 branches and saving an estimated $680m a year.

Barclays will establish Barclays Shared Services, a Kenyan subsidiary, to handle back-office activities for its African operations

Dubai’s Emirates NBD will buy BNP Paribas’ Egyptian operations for $500m.

Japan allowed Post Bank to offer housing loans, fire insurance policies and corporate loans.

China’s CBRC ordered banks to tighten checks on sale of third-party products, following Hua Xia Bank's wealth management product scandal. Read our comment.

Mizuho Corporate Bank signed a business cooperation agreement with Laos’ Banque Pour Le Commerce Exterieur Lao Public, the first Japanese bank to do so.

Malaysia’s CIMB launched ASEAN’s first banking service on Facebook, OctoPay.

India’s parliament allowed RBI to issue new banking licenses and seize control of private banks in the event of operational irregularities.

NZ’s ASB Bank, BNZ and Kiwibank warned that online payments intermediary POLi was spoofing or mirroring their Internet banking sites and capturing customer information.