US budget deficit sees 21% increase 10 months into fiscal 2018 | Commentary: Post-crisis rules might pose additional risk | Private equity firms push into lending space
August 15, 2018
SIGN UP ⋅   FORWARD
Risk Management and Insurance
US budget deficit sees 21% increase 10 months into fiscal 2018
Treasury Department data show the US government's budget deficit rose 21% to $684 billion in the first 10 months of fiscal 2018, compared with $566 billion during the same time frame in fiscal 2017. One factor behind the increasing deficit is that government spending has risen while business and individual tax rates have decreased.
The Wall Street Journal (tiered subscription model) (8/10) 
LinkedIn Twitter Facebook Google+ Email
Commentary: Post-crisis rules might pose additional risk
Regulatory changes after the financial crisis might be adding systemic risk, Satyajit Das writes. Emphasis on collateralization to reduce risk only creates different risks, he writes.
Bloomberg (tiered subscription model) (8/9) 
LinkedIn Twitter Facebook Google+ Email
Cybersecurity
Banks must dump legacy reporting tech, expert says
Reporting regulations' fast evolution means banks can no longer rely on a tactical approach to compliance from legacy technology and must look to cloud and open platforms, says Guillaume Spay, solution lead for capital markets and treasury at Finastra. "Legacy technology is generally quite old, and the only way to avoid losing market share is to be more agile," Spay says.
Futures & Options World (subscription required) (8/13) 
LinkedIn Twitter Facebook Google+ Email
FBI says criminals are planning ATM scheme
The FBI warns that cybercriminals are planning a scheme that could remove millions of dollars from ATMs using duplicated cards. Banks are asked to check their security measures.
Krebs on Security (8/12) 
LinkedIn Twitter Facebook Google+ Email
Government Regulation
Fed likely to raise interest rates twice more in 2018, economists say
Two more increases in short-term interest rates are likely to emerge from the Federal Reserve in 2018, with one in September and another in December, a Wall Street Journal survey of economists finds. Federal Reserve Bank of Chicago President Charles Evans says economic growth could set the stage for one or two more increases this year, while Federal Reserve Bank of Richmond President Thomas Barkin says economic growth will determine the amount of any such increases.
The Wall Street Journal (tiered subscription model) (8/9),  Reuters (8/9),  Bloomberg (tiered subscription model) (8/9),  ThinkAdvisor (free registration)/Bloomberg (8/9) 
LinkedIn Twitter Facebook Google+ Email
Calif. high court: Some interest rates "unconscionable"
The California Supreme Court says some interest rates charged by lenders can be deemed "unconscionable," thereby voiding a loan. The statement comes about as part of a class-action lawsuit against CashCall, which has offered loans at 96% and 135% interest.
Los Angeles Times (tiered subscription model) (8/13) 
LinkedIn Twitter Facebook Google+ Email
News from Aon
Tariffs and Trade Wars: Dealing with uncertainty, planning for the future
China's latest announcement of a 25% tariff on $16 billion of US goods and Washington's recent sanctions against Iran highlights how uncertain global trade has become. There have already been several warnings about the possibility of a global "trade war" and the long-term impact on the world economy. What implications do recent tariffs have on global supply chains? Learn more.
LinkedIn Twitter Facebook Google+ Email
Webinar: Retiree Health Care: Calibrated approach vs. one-size-fits-all
Facing rapidly rising costs in retiree health care benefits, many plan sponsors that offer group-based medical and prescription drug coverage to Medicare-eligible participants are aggressively exploring their options. They want to honor the commitments they've made to their retired workers, while better managing the large liability and uncertainty that comes with maintaining their status quo. Join Aon experts on Aug. 29 for a discussion on the best options for plan sponsors. Register here.
LinkedIn Twitter Facebook Google+ Email
Learn more about Aon Financial Institutions:
Aon Home Page | Aon Financial Institutions
Thought Leadership | Media Room
  
  
Believe that life is worth living, and your belief will help create the fact.
William James,
philosopher and psychologist
LinkedIn Twitter Facebook Google+ Email
  
  
About Aon Financial Institutions
The Aon Financial Institutions Practice develops risk transfer and consulting solutions for a wide range of businesses including banks, insurance companies, asset managers and diversified investment and finance firms. Our experts draw on deep experience in developing products involving management and professional liability, property and casualty, cyber, operational and enterprise risk management, environmental liability, employee benefits, and transactional solutions. These solutions help clients build a tailored risk management program that empowers results for their organizations.

Contact Aon
Aon Financial Institutions
Jacqueline Quintal | Managing Director
Financial Institutions Practice Leader
t. 212.441.2339
jacqueline.quintal@aon.com
www.aon.com

 Linkedin Twitter
About Aon
Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
Powered By SmartBrief
Subscriber Tools:
Contact Us:
Editor  -  Charles Tomlinson
Mailing Address:
SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004
© 1999-2018 SmartBrief, Inc.®
Privacy Policy (updated May 25, 2018) |  Legal Information