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"This trading may not violate the Volcker rule but it violates the Dimon principle."
JPMorgan CEO Jamie Dimon on the possible effect their $2bn loss may have on the Volcker Rule.



The following are notes from our Monday morning meeting.

The US Feds have approved ICBC’s purchase of Bank of East Asia USA, allowed Bank of China to set up branch in Chicago, and CIC to invest in bank holding companies.

South Sudan has secured a $100 million line of credit from Qatar National Bank, and will receive a further $500 million loan from an unidentified provider.

Qatar's government, the Islamic Development Bank and a subsidiary of the Saudi Arabia's Dallah Albaraka Group have agreed to set up an $11bn Doha-based Islamic bank.

Korea’s FSC has suspended four banks for six months, Solomon, Mirae, Hanju and Korea Savings Bank for having insufficient funds to back up risky investments.

PBOC will cut banks' reserve-requirement ratio by 0.5%, effective May 18 to help boost liquidity.

Malaysia’s CIMB has proposed to acquire a 59.98% stake in Philippines' Bank of Commerce for $287 million.

The Reserve Bank of India is planning to exempt foreign banks from paying tax to set up local units.

Australia’s APRA chairman John Laker has announced a supervisory crackdown targeting offshoring and outsourcing, and aggressive bank expansion overseas, to discouraging excessive risk-taking.