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"The fact that we have never taken any money from the government has made us… so attractive to so many clients in the world that we would be very reluctant to give that up."
Deutsche Bank’s CEO Josef Ackermann ponders saying no to ECB loans.

The following are notes from our Monday morning meeting.

Bank of America is currently putting all its properties except headquarters in North Carolina and New York under consideration for sale, in a bid to further trim expenses by reducing real estate ownership.

Former RBS chairman Fred Goodwin has been stripped of his knighthood due to his role in the bank's troubles during the 2008 credit crisis.

Mitsubishi UFJ has named deputy president Nobuyuki Hirano to head its core banking unit, ahead of his promotion to become president of Bank of Tokyo-MUFJ in April.

China’s National Development and Reform Commission has announced a limit on overseas banks’ mid and long-term debt quotas to fund foreigners’ mortgages in a bid to cool property prices.

Bank of China and Bank of Communications have received approval from Taiwan to remit $40.3 million and $52 million respectively to establish their first branches on the island.

Bank Negara Malaysia and the Bank of Thailand have signed a MOU to boost collaboration in enhancing liquidity facilities between financial institutions, part of the regional efforts to facilitate the currency swap framework under the Chiang Mai Initiative Multilateralisation agreement. 

Standard Chartered has appointed Sunil Kaushal as the regional CEO for India and South Asia, taking over from Neeraj Swaroop.

MasterCard has launched its East African headquarters in Nairobi, Kenya, heating up competition with rival Visa for control over the regional payment market.

St George and Bank SA became the latest Australian banks to face class action involving a $16 million compensation claim for charging customers exception fees.