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
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