The following are our selection of key industry news around the world from our Monday Morning Meeting:
- The US Federal Reserve has revised its qualitative test to no longer fail banks based on operational or risk management lapses in the next stress test
- The management board of Deutsche Bank has confirmed that they will hold talks with Commerzbank over a possible merger
- The People's Bank of China has ordered domestic banks to separate their wealth management business in an effort to tighten regulations
- MUFG is one of the first Japanese banks to start phasing out the requirements for a hanko stamp to validate transactions, in favour of digital processing
- African lender Absa Group has restructured its corporate and investment banking unit to become more focused in its local operations
- The Saudi Arabian Monetary Authority (SAMA) and the UAE Central Bank (UAECB) have launched Aber, a common digital currency which will allow both countries to transfer and remit with each other through distributed ledger technology
- The State Bank of India has announced its ongoing application to join the SWIFT gpi
- The Land Transport Authority of Singapore will launch Simplygo in April, which will allow certain contactless bank card users to pay for their public transport rides using the same cards
- Bank of Ayudhya (Krungsri) has launched its facial recognition technology for e-KYC, laying claim to be the first in the country to do so
- Commonwealth Bank of Australia's Matt Comyn has announced that the bank will end all fees-for-no-service charges, and will be among the bank executives to face parliament questioning for alleged bad bank practices
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