Analysts: Dollar could be susceptible to rapid reversal

Analysts: Dollar could be susceptible to rapid reversal | CBO: Student debt forgiveness may cost $400B | Major US banks reportedly consider leaving GFANZ Created for {EMAIL} | [Web Version]( September 28, 2022 [SIGN UP]( ⋅ [SHARE]( [] Risk Management and Insurance [] [Analysts: Dollar could be susceptible to rapid reversal]( The dollar has gained 22% against a basket of major currencies in a relentless rise over several months. However, Morgan Stanley analysts say long positions are the most stretched ever. Some investors are concerned trading has become overcrowded and could be vulnerable if large numbers exit. "If we get a catalyst, the dollar can turn and turn very aggressively," says Calvin Tse, head of global macro strategy for the Americas at BNP Paribas. Full Story: [Reuters]( (9/26) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] [CBO: Student debt forgiveness may cost $400B]( The Congressional Budget Office has estimated the likely cost of the government's student loan forgiveness plans at around $400 billion over three years. The CBO noted, however, that any estimate is subject to uncertainty as it depends on a number of assumptions. Full Story: [CNN]( (9/26), [The Washington Post]( (9/26) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] - [Major US banks reportedly consider leaving GFANZ]( Financial Times (subscription required) (9/21) [] - [Bank exec suggests fitting roles to people]( Financial Advisor IQ (9/26) [] Cybersecurity [] [Protecting against increasingly sophisticated ransomware]( The cybercriminals who attacked Colonial Pipeline in May 2021 have rebranded since that high-profile incident but continue to focus on the use of ransomware to target organizations. To protect against these kinds of attacks, companies must develop cybersecurity cultures that focus on prevention and detection, according to Chris Clements, vice president of solutions architecture at Cerberus Sentinel. Full Story: [TechRepublic]( (9/23) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] Government Regulation [] [Republicans side with banks on capital requirements]( In last week's Senate banking committee hearing with bank CEOs, Republican senators sided with banks in saying that the capital requirements imposed by the Federal Reserve are excessive. Sen. Tim Scott, R-S.C., said that banks' obligation to reserve large amounts of equity to absorb losses could lead to fewer loans being issued. Full Story: [American Banker]( (9/23) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] - [Fed's Bostic sees potential for orderly economic slowdown]( Bloomberg (9/25) [] Innovation [] [Combined banking, insurance app debuts with 600K on wait list]( Onuu, a subscription-based app that combines banking and insurance services and is aimed primarily at underserved communities, was launched last Friday to a waiting list of 600,000 members. "The goal of Onuu is to bring [Americans who are rejected when they apply for financial products] into the financial system fairly and give them a chance to prosper by offering financial security as a product," said CEO and co-founder Felix Ortiz III. Full Story: [American Banker]( (9/26) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] - [BofA eases customer login process with QR codes]( American Banker (9/26) [] [] The things you think are the disasters in your life are not the disasters really. 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