Keywords: Wegelin & Co, FSA UK, The Co-operative Bank, Automated Teller Machine Consortium, Central Bank Of The UAE, FSA Japan, Fubon Financial, Firstsino Bank, Bank Of Tokyo-Mitsubishi, Cooperative Bank, BoT, RBI, Paul Fegan, Genworth

"I see an increased risk, given the course the committee has set."
Jeffrey Lacker, president of the Richmond Fed warning that aggressive easing plans threaten the US Fed's credibility.


The following are notes from our Monday morning meeting.

Wegelin & Co, the oldest Swiss private bank will cease operations permanently following its guilty plea to charges of helping wealthy Americans evade taxes through secret accounts.

FSA UK fined The Co-operative Bank $184,000 for failing to properly handle 1,629 payment protection insurance complaints in 2011.

Repeated banking consolidations in Nigeria forced the closure of Automated Teller Machine Consortium, which was owned by eight local banks.

Central Bank of the UAE has restricted mortgage loans for expatriates to 50% of the value of a first home and 70% for citizens.

FSA Japan will require major trust banks to maintain higher capital ratios because of systemic risk.

Taiwan's Fubon Financial will acquire China's Firstsino Bank, a JV between Taiwan, Hong Kong and Chinese investors, for $1.03b.

Japan’s Bank of Tokyo-Mitsubishi signed an MoU with Myanmar’s Cooperative Bank to support foreign companies’ expansion into Myanmar.

Thailand’s cabinet approved Bank of Thailand Act amendments to provide future bailout funds and ease lending rules for troubled banks.

India's RBI introduced new guidelines on banks' product pricing to ensure that customers are charged standardised, non-discriminatory prices.

Australia’s St. George Bank’s former CEO Paul Fegan joined Genworth as CFO, replacing Anne O'Driscoll, who left in December.