Keywords: BCBS, BofA, Fannie Mae, CBN, Central Bank Of Egypt, Woori Financial Group, CDB, Kasikornbank, OJK, RBA

"Someone with a little broader perspective would be good."
Former FDIC chairperson Sheila Bair, on incoming US Treasury secretary Jack Lew's lack of financial markets experience.


The following are notes from our Monday morning meeting.

The Basel Committee for Banking Supervision gave banks a four-year extension to comply with the Basel III rule on minimum holdings of easily sellable assets.

Bank of America will pay Fannie Mae $11.6b to settle claims resulting from failed mortgage-backed investments.

Nigeria's House of Representatives proposed new legislation that could strip Central Bank of Nigeria of banking supervision authority and transfer it to an independent body.

Former deputy Hisham Ramez replaced Farouq El-Oqda as governor of Central Bank of Egypt.

FSC and FSS South Korea approved Woori Financial Group's proposal to launch a stand-alone credit card operation.

Liu Ho, head of China Development Bank's Hong Kong branch, has been suspended over the bank's involvement in a loan deal for HSBC's stake in Ping An insurance which turned sour.

Thailand's Kasikornbank opened its first representative office in Yangon, Myanmar.

Indonesia's OJK is reviewing banking conglomeration supervision patterns to prevent systemic risks arising from existing practices.

India approved a $2.3b capital infusion into state-run banks to help them comply with tighter regulatory requirements and bolster their risk buffers.

Reserve Bank of Australia is reviewing a payments infrastructure proposal as part of its bid to facilitate real-time retail payments by 2016.