Two directors issued a letter in response to the recommendations made by proxy advisory firms on the ceo-chairman split issue as well as removal of some of the JP Morgan directors from the board.

Wisconsin bill for state backed venture capital fund proposed. A bill whose main provision would place US$25 million in state money to fund start up companies in Wisconsin has passed the first reading in its state legislature.

Lloyds pay back Eur3.5 billion of LTRO received from ECB. Lloyds Banking Group had announced that by next week, it would be paying the remaining Eur3. 5 billion or US$4.

In a watershed moment, Warburg Pincus raises US$11.2 billion. One of the largest private equity funds raised since the 2007 crisis has been put together by Warburg Pincus LLC.

Greece is again selling a three month treasury bill to pay off a previous issue. Greece will commence the auction of Eur1. 0 billion or US$1. 29 billion treasury bills with a term of three months from issue.

Scale Venture Partners raise US$300 million. Scale Venture Partners announced today that it was able to secure US$300 million in pledges at the conclusion of ScaleVP IV LP, going beyond the actual amount it was aiming to raise.

Lehman may sell off US$14 billion in unsecured claims to raise funds to pay off debts and other claims.

NLB and NKBM, Slovenian banks are planning capital hikes totalling Eur767 billion. Two of Slovenia's largest banks, namely NLB and NKBM are planning to introduce capital hikes worth a combined total of Eur767 billion or US$1 billion.

Chang Hwa Bank to introduce three year bond worth at least one billion yuan. Chang Hwa Bank would raise 1 billion yuan or US$163. 11 million through a yuan denominated bond sale.

Kazakhstan to issue new Eurobond. Kazakhstan would be returning to global bond markets with a debt issuance expected to reach US$1 billion. The oil-rich Eastern European country has invited banks for management applications of the deal, according to Finance Minister Bolat Zhamishev.