Keywords: IMF, Barclays, Absa, ADCB, Kookmin Bank, Aozora Bank, CBRC, Cathay United Bank, Myanmar Payment Union, Bank Indonesia, CBA, NAB

"We need real separation, real culture change. Or we will legislate."
Ed Miliband, Leader of the UK’s Labour Party, demanding banks separate investment from retail operations.


The following are notes from our Monday morning meeting.

Latest IMF Global Stability Report finds banks still too big, intertwined, and over-reliant on short-term wholesale funding.

Stress tests on Spanish banks show $75.8b safety net needed due to reckless lending during construction boom years.

Barclays Bank will partner with South Africa’s Absa Bank to promote development of SMEs in Kenya.

ADCB signed an MOU with Korea’s Kookmin Bank in the UAE to provide mutual financing solutions for clients of both banks.

Japan’s Aozora Bank deputy president Shinsuke Baba replaced Brian Prince, who stepped down for personal reasons, as CEO.

China’s CBRC gave Taiwan’s Cathay United Bank permission to conduct renminbi-based transactions.

Myanmar Payment Union, in association with 17 banks, launched the country’s first debit cards.

Former Bank Indonesia deputy governor Miranda Swaray Goeltom was imprisoned for bribing lawmakers for the post.

Barclays will reduce India operations, closing three of its nine branches there.

Australia’s CBA and NAB have reclassified $13b after incorrectly naming household as business loans.