Keywords: Credit Suisse, Banco Santander, African Development Bank, Emirates NBD, Noor Islamic Bank, Mizuho Financial Group, HSBC, Bank Of The Philippine Islands, Philippine National Bank, RBI, NAB

"If we're bad, Europe is terminal."
ANZ CEO Mike Smith, on the IMF’s call to force Australia’s four largest banks to further increase capital buffers.


The following are notes from our Monday morning meeting.

The New York attorney general sued Credit Suisse for misleading investors in mortgage-backed securities prior to the 2008 financial crisis.

Banco Santander is considering investing in the bad bank created by Spain to siphon off toxic real estate assets from bank balance sheets.

African Development Bank has offered Nigeria a $1.6b loan to finance water supply and housing projects.

Emirates NBD and Noor Islamic Bank are among creditors close to an agreement with Dubai Group on restructuring $6b of debt.

Mizuho will cooperate with nine Asian banks over payment settlements and loans for infrastructure building.

HSBC is in talks to sell 15.6% of China’s Ping An Insurance for $9.28b, potentially earning it a $7.5b profit.

Myanmar's Co-operative Bank is the first in the country to have ATMs accepting cash withdrawls from Mastercard debit cards.

Bank of the Philippine Islands is in talks to buy Philippine National Bank, which may lead to an entity with combined assets over $90b.

India’s RBI ordered a total ban on banks from advancing loans to customers for purchasing gold in any form.

Australia’s NAB will be upgrading its Internet banking platform within the next six months.