Keywords: Goldman Sachs, Deutsche Bank, Kutxabank, CBN, First Gulf Bank, Aozora Bank, PBoC, Zhou Xiaochuan, Nguyen Van Binh, SBV, Development Bank Of The Philippines, BDO Unibank, Korea Development Bank, Bank Of India, Vijayalakshmi Iyer, NAB

"The language of ring fencing has huge risk of moral hazard."
Stephen Hester, CEO of RBS, warning that ringfencing may imply one part of financial services is more important than another.


The following are notes from our Monday morning meeting.

Goldman Sachs and Deutsche Bank have lost a bid to dismiss charges by the Federal Housing Finance Agency that they misled Fannie Mae and Freddie Mac into buying billions in risky mortgage debt.

Spain’s Kutxabank halted all home-owner evictions after a second ruined client committed suicide.

Central Bank of Nigeria will abolish inter-network ATM charges to enhance financial inclusion.

UAE’s First Gulf Bank signed a three-year $900m loan with an undisclosed group of international banks.

Japan’s Aozora Bank will set up a wholly-owned subsidiary to assist troubled small businesses.

China’s PBoC governor Zhou Xiaochuan was excluded from the 18th central party, while ICBC, BoC, ABC and CCB chairmen were among the 171 alternate members.

Nguyen Van Binh, governor of Vietnam’s SBV, received requests from national assembly delegates to explain his controversial statement on NPLs.

Development Bank of the Philippines and BDO Unibank signed project financing MoUs with Korea Development Bank.

Bank of India appointed Vijayalakshmi Iyer, former executive director of Central Bank of India, as chairperson and managing director.

Australia’s NAB reached a $100m settlement with more than 15,000 shareholders who filed a lawsuit over the bank's exposure to CDOs during the global financial crisis.