Keywords: US Fed, Citigroup, BIS, Central Bank Of Kenya, Central Bank Of The UAE, FSC South Korea, SBV, HDFC Bank, ICICI Bank, Axis Bank, ANZ, Westpac, CBA, NAB, RBA

"It’s commercially highly confidential, and yet, if you go entirely down that road, what you lose is accountability."
Andrew Bailey, incoming head of the Prudential Regulation Authority, on making Pillar 2 information public.


The following are notes from our Monday morning meeting.

The US Fed ordered Citigroup to submit a plan within 60 days to improve its oversight of company-wide anti-money laundering compliance.

BIS data shows overseas banks excluding those in Russia had $59.2b in outstanding loans to Cyprus as of September 2012.

Central Bank of Kenya reported payment card transactions totalled $1.5b in January 2013, up 136% YoY.

Central Bank of the UAE announced total bank assets increased by 7.8% in a year to $488b as of end 2012.

FSC South Korea will conduct a probe into the country’s big four financial groups as part of plans to overhaul their governance structure.

Taiwan moved up three positions to fourth out of 136 countries in Rmb payments following a 120% increase over six months, overtaking the US and Australia.

State Bank of Vietnam says it will inject $1.4b into the country’s banking system to revive the struggling property market and resolve bad debts.

Asian Banker Research data showed Thailand’s loan grew 15.4% in 2012, compared with 11.5% in 2011. Click here for more.

India’s HDFC Bank, ICICI Bank and Axis Bank expanded the size of their ATM networks by 44%, 26%, and 22.6% respectively from January 2012 to January 2013.

Australia’s ANZ, Westpac, CBA, and NAB collectively increased their loanbook in Asia to $117b as of end 2012, up from $28b in 2007, according to RBA.