Keywords: Wells Fargo, Central Bank Of Nigeria, Denizbank, Citibank, Phuong Tay Bank, Petrovietnam Finance, HDFC Bank, ICICI Bank, Axis Bank, RBA

"These institutions operate under a privileged status."
Dallas Fed president Richard Fisher, on the existence of banks such as Citigroup that are likely to receive government bailouts if they fail, giving them an unfair advantage.


The following are notes from our Monday morning meeting.

35 of the world’s largest banks spent a combined $13b more on salaries in 2012 over the previous year says a Reuters EuroStoxx report.

The music industry’s revenue grew by 0.3% to $16.5b in 2012 with digital formats accounting for $5.6b, according to the International Federation of the Phonographic Industry.

US Wells Fargo per person average compensation went up 2 % in 2012, about $108k.

Central Bank of Nigeria governor Sanusi Lamido Sanusi said he will not seek a second term in office after his ends in 2014.

Denizbank is in talks to acquire Citibank’s Turkish consumer banking business.

Japan unveiled its new oversight policy aimed at mitigating potential risks posed by systemically important financial market infrastructures.

China issued draft guidelines to tighten control of bank lending to local government financing vehicles.

Phuong Tay Bank will merge with Petrovietnam Finance as part of Vietnam’s plan to restructure banks struggling with NPLs.

Credit cards in Malaysia dropped to 8.07m in 2012 from 8.21m in 2011, showing three consecutive years of decline. Click to read The Asian Banker Databook.

India’s HDFC Bank, ICICI Bank, and Axis Bank will face an RBI probe due to allegations of widespread money laundering practices at their branches.

Reserve Bank of Australia says its computers were infiltrated by allegedly Chinese-developed software designed to collect information on sensitive G20 negotiations.