Keywords: Wells Fargo, Dick Kovacevich, Visa, Santander, Javier Marin, FSS, PBoC, MAS

"I don’t think it is a reasonable proposal."
Wells Fargo chairman emeritus Dick Kovacevich on the Brown-Vitter bill requiring banks with more than $500b in assets to hold a 15% capital ratio.

The following are notes from our Monday morning meeting.

Visa data indicates that US debit card transaction volume fell 2% YoY to $381b in Q1 2013.

Santander named private banking arm head Javier Marin as CEO, replacing Alfredo Saenz.

East African banks lost $48.3m to fraud between January 2010-June 2012, prompting Kenyan banks to migrate to EMV smart chips in a $24m move.

Total credit cards in Turkey doubled in four years, increasing from 32.9m in September 2008 to 68.2m in September 2012 due to a competitive and poorly-regulated credit cards sector.

South Korea’s FSS data indicates that total bank assets in the country increased 3.2% YoY to $1.82t as at December 2012.

Asian Banker Research found number of credit cards in Taiwan grew only 3.7% in 2012, rising by 1.22m to 34.08m. Click here for more.

China’s PBoC data shows Rmb loans in Q1 2013 reached $162.4b, up 41.8% YoY despite a slowdown in the Chinese economy.

Vietnam’s credit growth fell to 6.45% in 2012 due to NPLs racked up by poorly managed banks, state owned vehicles and public investments.

Singaporean banks will need to comply with anti-tax evasion measures before July 1st, with MAS data indicating that more than 70% of the country’s $1.08t AuM came from overseas.

Mobile banking transactions in India doubled YoY to 5.6m in January 2013, with transaction value increasing threefold to $116m.

Australian ATM withdrawals fell 16% YoY to $60m in February 2013, as customers opt for cash and debit card payments to avoid ATM-related fees.