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"It's affecting Chinese banks' spreads in a negative way."
Bank of China vice chairman and president, Li Lihui, on Beijing’s easing monetary policy.



The following are notes from our Monday morning meeting.

Citigroup, UBS, HSBC, and RBS are also being investigated in the UK for LIBOR manipulation.

RBS may sue US software giant CA Technologies over a faulty update that caused a system failure resulting in massive payment transaction backlogs.

China Development Bank is considering injecting $1.7b into two long-delayed large San Francisco housing developments as well as $10b for infrastructure in South America.

Lebanon’s Bank Audi has sold 81% of insurance unit LIA to Morocco’s Saham Finances for about $100m.

Kenichi Watanabe was re-elected Nomura Holdings CEO and apologised for the company’s insider trading scandal.

Myanmar has given permission to United Bank of India to set up a representative office in Yangon.

Franklin Drilon, chairman of the Philippines’ Senate Finance Committee, has defended BSP’s $1b loan to the IMF without first acquiring Congress approval.

HSBC plans to sell its 4.8% stakes in India’s Axis Bank and Yes Bank for an estimated $431m.

Australia's Bank of Queensland has cancelled plans to sell $246m of nonperforming commercial property loans after failing to receive satisfactory offers.