Keywords: Bank Of Canada, Mark Carney, European Commission, Spain Bankia, NCG Banco, Catalunya Banc, Rand Merchant Bank, Kabul Bank, HSBC, ICBC, CCB, ABC, BoC, BOCOM, China Merchants Bank, Ayeyarwady Bank, Juroku Bank, BI, Standard Chartered Bank, Barclays, ANZ

"It is going to become extremely difficult for French banks to lend to the economy."
Credit Agricole CEO Jean-Paul Chifflet, citing crippling effects the draft French bank reform law will impose on banks.


The following are notes from our Monday morning meeting.

Bank of Canada is looking for a new governor as Mark Carney departs to head Bank of England in June 2013, replacing Mervyn King.

The European Commission approved $51.9b from the European Stability Mechanism to recapitalize Spain’s Bankia, NCG Banco, and Catalunya Banc.

South Africa’s FirstRand Bank will establish Rand Merchant Bank, a subsidiary in Nigeria.

Investigations into Afghanistan’s failed Kabul Bank revealed $900m in fraudulent loans were given to political elites in a country whose total bank assets today is only $4.49b.

HSBC is in talks with FSC Korea to shut down its local retail banking business.

China’s ICBC, CCB, ABC, BoC, BOCOM and China Merchants Bank will establish individual capital assessment models to measure asset strength.

Myanmar’s Ayeyarwady Bank signed an agreement with Japan’s Juroku Bank to help establish Japanese companies in the country.

Starting from January 2013, Bank Indonesia will require banks to obtain one of four banking licenses, with banks’ capital levels determining their operations portfolio.

Competition Commission of India approved StanChart’s proposed acquisition of Barclays’ loan portfolios.

Australia’s ANZ will work with Switzerland's Vontobel to offer private banking clients a broader range of services including global investments, and structured products.