July 21, 2021
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Risk Management and Insurance
The latest US bank earnings reports have shown high volumes of deposits at all institutions, with the increased balance sheets viewed as a catalyst for Goldman Sachs, Morgan Stanley and Bank of America to take on more debt through large-scale bond sales. It is thought that JPMorgan Chase and Citigroup may soon follow suit.
Full Story: Bloomberg (7/15) 
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Cybersecurity
Treasury Secretary Janet Yellen has called a meeting of the President's Working Group on Financial Markets, which comprises Yellen and leaders of the Federal Reserve, the Securities and Exchange Commission and the Commodity Futures Trading Commission, to discuss potential benefits and risks of stablecoins. The meeting has been welcomed by issuers of stablecoins that want clear regulatory standards.
Full Story: BNN Bloomberg (Canada) (7/16),  The Wall Street Journal (7/17) 
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Government Regulation
Federal Reserve Chair Jerome Powell was subjected to a barrage of questioning from the Senate Banking Committee on the onset of inflation but insisted the Fed will not make any abrupt policy decision or change course in response to it. He did acknowledge that inflation is rising faster than anticipated but reiterated his opinion that it will prove transitory, stating: "We won't have to wait a tremendously long time, I don't think, to know whether our basic understanding of this is right."
Full Story: The Wall Street Journal (7/15),  Financial Times (subscription required) (7/14),  Bloomberg (7/15) 
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Innovation
The coronavirus pandemic has fueled higher demand for interactive teller machines. More banks are adding ITMs to their lobbies and the market for the technology is predicted to grow 12% a year through 2026.
Full Story: The Financial Brand (7/19) 
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News from Aon
In an evolving crisis, companies that made decisions quickly and communicated directly set themselves up for success.
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Aon's Technology & Communications Industry Practice hosts a monthly roundtable each month to discuss topics that are of primary interest to technology and communication companies. In this session, Scott Takaoka, vice president of the Cyber Solutions Group, and Keeley Sidow, vice president and West Region leader, Cyber Solutions, discuss mitigating ransomware attack vulnerabilities and insurance implications.
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The cure for anything is salt water: sweat, tears or the sea.
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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
Joel Sulkes
Aon Global Financial Institutions Practice Leader
t 212-441-2364
joel.sulkes@aon.com
www.aon.com

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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.
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