Keywords:

"We are not in the prosecution business here, we are in the oversight business."
US Senator Carl Levin implying HSBC will face further legal challenges ahead. Read our comment.



The following are notes from our Monday morning meeting.

Capital One was fined $210m by the US Consumer Financial Protection Bureau for misleading consumers.

UK’s The Co-operative bought 632 Lloyds branches for $550m.

Japan’s SMFG will upgrade its Istanbul office to a full branch.

Korea’s FTC is investigating the big four banks for possible collusion over rigged CD rates.

Taiwan’s Mega Bank opened its first mainland Chinese branch in Suzhou.

HSBC may sell its 18% of Vietnam’s Baoviet to Sumitomo Life for $400m.

Singapore Exchange is looking at a potential $11.3b merger with the LSE.

RBI approved SWIFT’s JV with eight Indian banks to provide electronic transaction services.

Australia’s CBA froze salaries of 400 senior employees to cut costs.