No surprises but today the details for the new BRICS bank were announced. Also it was announced the Bank headquarters will be in China as Russia leaked earlier. India will hold the Presidency of the Bank for the first six years and there will be a regional office in South Africa.
Here is the full article pasted below with just a small comment added below that:
"After some tough rounds of negotiations, BRICS nations (Brazil, Russia, India, China and South Africa) have created not only a new $100 billion Development Bank, but also a $100 billion foreign currency reserves pool.