VENTURE CAPITAL POST

Australia's systemically important "Big Four" banks will be required to set aside an extra 1 percent of equity capital to protect against the kind of turmoil seen during the global financial crisis under new regulations announced on Monday.

Westpac CEO Gail Kelly reports a good 2013 and expects a better year for 2014.

In a bid worth AUD1.5 billion, Westpac stands to acquire the asset finance and commercial lending units of Lloyds Banking Group in Australia.

The New Zealand government along with private lenders had agreed to aid stricken coal miner Solid Energy with a multi-million bailout fund.