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"I accept that some people in some organisations have been significantly overpaid … but I wouldn't say that for RBS."
RBS chairman Sir Philip Hampton on shareholder objections to top executives' bonuses.



The following are notes from our Monday morning meeting.

Morgan Stanley and Blackstone have bought $2b of commercial property debt from Lloyds for $650m.

Bank of Spain governor Miguel Angel Fernandez Ordonez has resigned due to criticism of how he handled the country's banking crisis.

Syria International Islamic Bank is facing US sanctions for allegedly aiding the government's efforts to obtain weapons of mass destruction.

Japan's Securities and Exchange Surveillance Commission is investigating JPMorgan for alleged insider trading involving Nippon Sheet Glass' 2010 shares.

China's PBoC has authorised direct trading of the renminbi and Japanese yen. For our coverage click here.

Banque Pour Le Commerce Exterieur Lao has signed an agreement with Thailand's Krung Thai Bank for cooperation in cross-border trade and investment, through the latter's Vientiane branch.

Bank Indonesia deputy governor Halim Alamsyah said the proposed 40% cap on foreign ownership in domestic banks only affects new investors.

Morgan Stanley India has obtained approval from the RBI to carry out commercial banking activities.

Australia's NAB is winding down its private equity arm following a $24.6 million loss.