Keywords:

"We don't see any reason to raise capital at all" 
Bank of America CEO Brian Moynihan, responding to a question in the wake of the bank’s $18.5b losses from home-equity loans since 2008.


The following are notes from our Monday morning meeting.


The Basel Committee on Banking Supervision will decide this week which of the biggest banks will need up to 3% more capital than Basel III’s proposed 7%. Read our comment here.

Citigroup has acknowledged that last month's security breach compromised more than 360,000 credit cards in the US, higher than earlier admission of 210,000 affected accounts.

UAE's ADCB sold its 25% stake in Malaysia’s RHB Capital to Abu Dhabi-based asset manager Aabar Investments for $1.9b, making Maybank’s or CIMB's acquisition bid for RHB more complicated.

Employees of Korea Exchange Bank staged massive protests in Seoul against the sale of Lone Star’s 51.02% stake to Hana Financial Group.

China Everbright Bank seeks to raise $6b in a Hong Kong IPO, Asia's biggest target so far this year, despite a prevailing lukewarm market.

Taiwan's Financial Services Commission has reiterated its order for banks to use the new IFRS standards next year in order to increase transparency in the country's banking system.

HSBC Bank Vietnam has appointed Sumit Dutta as its new CEO, replacing Thomas Tobin’s four years of leadership. Dutta was the former executive director of Techcombank.

ANZ opened a branch in Mumbai last week and returned to the Indian banking sector 11 years after it sold its Grindlays Bank unit to Standard Chartered Bank.