Bank CEOs: Student loans, leveraged lending threaten financial system

Bank CEOs: Student loans, leveraged lending threaten financial system | Improvement at banks leads to fewer MRAs, regulators say | Banks need to improve cybersecurity approach Created for {EMAIL} | [Web Version]( April 17, 2019 [SIGN UP]( ⋅ [FORWARD]( [] Risk Management and Insurance [] [Bank CEOs: Student loans, leveraged lending threaten financial system]( Student loans and leveraged lending are two of the biggest risks to the US financial system, bank CEOs said at a House Financial Services Committee hearing. Banks have pulled back from student lending over the years, and leveraged loans are largely made in the shadow-banking system, they told lawmakers. [CNBC]( (4/10) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] - [Improvement at banks leads to fewer MRAs, regulators say]( Politico Pro (subscription required) (4/15) [] Cybersecurity [] [Banks need to improve cybersecurity approach]( Banks are outspending other sectors on cybersecurity, reports Kaspersky Labs, but financial institutions are still allowing their cybersecurity efforts to be guided by myths, writes Ron Shevlin. Cybersecurity goes beyond information technology, affects banks large and small, and is expected by consumers, he writes. [Forbes]( (4/8) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] Government Regulation [] [Fed's Quarles wants faster transition from Libor]( US financial firms should pick up the pace to transition away from Libor to another benchmark, said Randal Quarles, vice chairman for supervision at the Federal Reserve. "We have only a little over 2½ years until the point at which Libor could end, and the transition needs to continue to accelerate," he said. [Pensions & Investments (free access for SmartBrief readers)]( (4/11) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] [EU regulators want clarity on cybersecurity rules]( European supervisory authorities have told the European Commission rules covering risk management for information and communication technology and cybersecurity could use legislative improvement. The regulators want more clarity and harmonization across sectors, as well as supervision of third-party providers. [Futures & Options World (subscription required)]( (4/11) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] [White House moves to limit regulators' use of nonbinding guidance]( Acting Office of Management and Budget Director Russell Vought issued a memo directing federal regulators, including the Federal Reserve and the Securities and Exchange Commission, to submit nonbinding guidance documents for review before releasing them. Regulators will be required to notify the Office of Information and Regulatory Affairs if they intend to publish guidance documents and, if guidance is deemed major, Congress will have discretionary power to reject it. [Politico]( (4/11), [The Wall Street Journal (tiered subscription model)]( (4/11) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] - [Basel Committee consolidates Basel III standards]( Central Banking Publications (subscription required) (4/9) [] Innovation [] [Survey: Financial sector increasingly uses machine learning]( The financial-services industry is increasingly using machine learning, with more than 90% of respondents having deployed the technology, despite data-quality issues, according to a Refinitiv survey. Top applications are in performance analysis, risk avoidance and generation of trading and investment ideas, the survey found. [Reuters]( (4/9) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] News from Aon [] [Aon announces Q1 2019 earnings release and conference call]( Aon PLC plans to announce first quarter 2019 results on Friday, April 26, in a news release to be issued before the market opens. CEO Greg Case will host a conference call at 7:30 a.m. CDT that day. [Read more.]( [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] [Deal or No Deal? Protecting Assets and Enhancing Value in M&A Deals]( Faced with increasing volatility, organizations may find organic growth harder to achieve. Merging with or acquiring another company is one way to expand. This past year has seen little to no slowdown in mergers and acquisitions (M&A) activity, which hit record levels in the first half of 2018. Whatever the reasons for an M&A deal, no transaction is without risk, and organizations must strike a balance between minimizing the risks and maximizing the value right up to when contracts are signed -- and beyond. [Learn more.]( [LinkedIn]( [Twitter]( [Facebook]( [Email]( Learn more about Aon Financial Institutions: [Aon Home Page]( | [Aon Financial Institutions]( [Thought Leadership]( | [Media Room]( [] [] Stress is an ignorant state. It believes that everything is an emergency. 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