Group items tagged

1. Increased automation and embedded financial services simplify daily activities 2. Cross-industry partnerships flourish allowing customers' financial and non-financial services needs to be addressed simultaneously 3. Customers will not think about financial services

Please be sure to select some text that gives us a sense of the "scan hit"

DRIVER-INFRASTRUCTURE-FUNDING-POLITICS 5-year update to 50-year Texas Water Plan QUICK FACTS: **Texas' state water plans are based on future conditions in the event of a recurrence of the worst recorded drought in Texas' history-known as the "drought of record"-a time when, generally, water supplies are lowest and water demands are highest. **Texas' population is anticipated to increase 73 percent between 2020 and 2070, from 29.7 million to 51.5 million, with approximately half of this growth occurring in Regions C and H. Water demands are projected to increase less significantly, by approximately 9 percent between 2020 and 2070, from 17.7 million to 19.2 million acre-feet per year. **Texas' existing water supplies-those that can already be relied on in the event of drought-are projected to decline by approximately 18 percent between 2020 and 2070, from 16.8 million to 13.8 million acre-feet per year primarily due to reservoir sedimentation and depletion of aquifers. **Water user groups face a potential water shortage of 3.1 million acre-feet per year in 2020 and 6.9 million acrefeet per year in 2070 in drought of record conditions. **Approximately 5,800 water management strategies recommended in this plan would provide 1.7 million acrefeet per year in additional water supplies to water user groups in 2020 and 7.7 million acre-feet per year in 2070. **Conservation strategies represent approximately 29 percent, or 2.2 million acre-feet per year, of all recommended water management strategy volumes in 2070 and were recommended for more than half of the water user groups in the plan. **The estimated capital cost to design, construct, and implement the more than 2,400 recommended water management strategy projects by 2070 is $80 billion. If strategies are not implemented, approximately one-quarter of Texas' population in 2070 would have less than half the municipal water supplies they will require during a drought of record. **If Texas does not implement the sta

"I have seen one fool's gold rush from up close in the lead up to the 2008 financial crisis. It feels like we may be on the cusp of another with cryptocurrencies (crypto) and decentralized finance (DeFi). The 2008 crisis holds lessons that can help industry and regulators chart a better path and avoid repeating the mistakes of the past."

The Treasury Department is moving to rein in a new class of cryptocurrencies whose popularity as a payment method is skyrocketing, citing a need to head off potential risks to consumers and to the financial system. So-called stablecoins - payment tokens that differ from other cryptocurrencies because their value is often pegged to the U.S. dollar - are drawing scrutiny because they have already been used in trillions of dollars' worth of lightning-fast transactions and could transform the way Americans pay for things. Treasury and other regulators want to ensure that they're reliable, even during financial panics.

The rapid uptake of mobile money in recent years has generated new data needs and growing interest in understanding its impact on broad money. This paper reviews mobile money trends using mobile money data from the Financial Access Survey (FAS) and examines the statistical treatment of mobile money under the IMF's Monetary and Financial Statistics (MFS) framework. MFS guidance is straightforward in most cases, as many jurisdictions have adopted regulations which ensure that mobile money is captured in the banking system and thus in the calculation of broad money. However, in cases where mobile network operators (MNOs) act as niche financial intermediaries outside the banking regulatory perimeter and are allowed to invest their customer funds in sovereign securities and other permitted assets, mobile money liabilities may remain outside the banking system as well as monetary statistics. In that case, information on mobile money liabilities need to be collected directly from MNOs to account for mobile money as part of broad money.

The closing of thousands of bank branches in the aftermath of the 2007-09 recession has served to intensify societal concerns about access to financial services among low- income and minority populations, groups that are often affected disproportionately in such situations. These sorts of concerns were expressed recently by, among others, researchers Terri Friedline and Mathieu Despard in an article in The Atlantic.1 We explored these concerns from the perspectives of those living in existing banking deserts as well as those who are dependent on isolated branches that, if closed, would create new deserts.

Six crypto leaders appeared at a House Financial Services Committee hearing that "explored how the government should oversee and improve regulation of the industry." The "general sentiment of the hearing was positive towards the cryptocurrency industry, a dramatic shift from past years. This disposition surprised some, but it reflects an evolving view of the benefits of cryptocurrency technology and the fear that the US is falling behind other countries such as China that have made noticeable progress towards launching a sovereign digital currency." The piece notes that the Senate Banking "has a hearing on stablecoins next Tuesday and it will likely be more skeptical towards this emerging asset class." The witnesses include Alexis Goldstein, Director of Financial Policy, Open Markets Institute; and Professor Hilary J. Allen, American University Washington College of Law.

"The move comes amid a global cryptocurrency crackdown as governments from Asia to the United States fret that privately operated highly volatile digital currencies could undermine their control of the financial and monetary systems, increase systemic risk, promote financial crime and hurt investors."

Global regulators worry the rise in privately operated currencies could undermine their control of the financial and monetary systems, increase systemic risks, promote financial crime and hurt investors. In the United States, President Joe Biden's regulators have launched several efforts to rein in cryptocurrencies.

DRIVER-WATER-SCARCITY-INFRASTRUCTURE-MATERIALS The North American drinking water infrastructure network spans an estimated 1 million miles, more than four times longer than the National Highway System, and that doesn't even take wastewater pipes into account. Much of the water infrastructure in the United States will need to be replaced in the next three decades. A large portion of water pipes was installed during three periods, and they will all need to be replaced in the next 25 years. Consider the following The oldest cast iron pipes laid in the late 1800s usually last 120 years; Pipes laid in 1920s must be replaced after 100 years; Pipes from the post-World War II boom wear out after 75 years. According to a 2012 report done by the American Water Works Association, the cost estimate to replace the old pipes is approximately $1 trillion over the next 25 years. The longer our water infrastructure is out of sight and out of mind, the closer we are to a serious national situation that will require immediate and dramatic funding. The cost of water infrastructure replacement far exceeds the financial capabilities of local water utilities and requires a strong commitment from not only utilities but rate-payers and government as well.

This is a chapter excerpt from a very popular book on Nano Biopesticides. "Today's global population has reached 7 billion, and is projected to reach 9.2 billion by 2050, an increase of 30% (70 million per annum). This explosive increase of the global population is expected to increase the demand for food production by 70%, notably due to changes in dietary habits in developing countries toward high-quality food." There is public demand for an alternative to chemical pesticides as well as the financial incentives "biological pesticides require 3-6 years and an investment of around $15-20 million for development and registration compared to synthetic pesticides, which require 10 years and $200 million for their development." The article is longer than many but a broad spectrum introduction to the technology.

Describes how 1.7 billion people are still very limited financially--no bank acounts or ability to obtain credit. This limitation stifles growth in various parts of the world. Technology can change this by sharing informatoin digitally between consumers and institutions.

More than 80 percent of Gen Z and Millenials are using a money transfer app - compared to 50 percent of baby boomers More than 80 percent of respondents have not used a buy-now-pay-later (BNPL) and nearly 75 percent avoid credit card debt generally or entirely MX, Finn AI, Q2 and Rival Technologies' white paper explores the use of financial products and services by baby boomers, millennials, and Gen Z

Yes, don't forget the Retail Trading boom with the increase in investment app usage. The 0% commissions a trade started by RobinHood disrupted major Brokers to compete. Think Or Swim and China's Webull are also big ones.

Oil prices keep going up and up. And two of the most famous names in private equity are stepping down from the company they founded nearly half a century ago. Plus, the billionaire space race may not be much of a race, after all, because Elon Musk is so far ahead. Musk can spread the cost across so many products. He is winning contracts with NASA. He also landed moon lander (3 Billion). He has real scale...the risk is starship.

Treasury's just-released Climate Action Plan establishes five priority actions to strengthen and build upon Treasury's climate resilience and adaptive capabilities: (1) rebuilding programs and capabilities that may have atrophied or stagnated in recent years; (2) addressing climate change impacts and vulnerabilities across the range of Departmental operations, including administrative, manufacturing, and law enforcement activities; (3) ensuring a climate-focused approach to managing Treasury's real property portfolio footprint; (4) enabling procurement management to fully consider climate change realities; and (5) providing, measuring, and accounting for a financial investment approach appropriate to the Department's climate objectives.

As crypto evolves into a mainstream consumer product, complaints to the CFPB about the sector have already exceeded 1,700 this year, compared with 982 all of last year and 488 in 2019. With the industry's growth have come calls for regulatory checks. Many in the regulatory community believe the Consumer Financial Protection Bureau is gearing up to launch enforcement actions against cryptocurrency firms. But that could revive a debate about the limits of CFPB power.

After a crackdown on Binance and other cryptocurrency firms, regulators are now turning attention to the world of decentralized finance. Decentralized finance, or "DeFi," lets users take part in traditional financial activities like lending but with no middle men involved. Regulators are concerned about DeFi services marketing themselves as decentralized when that may not be the case.

Article reviews how supply chain problems are more than bottlenecks at that ports. Lack of truck drivers and availalbility of rail contribute to delays. The article mentions a lot of things that need to be addressed before commerce flows like it once was. A key takeawy is the interconnectivity of ports with other elements of the entire transportation and supply distribution system.

Acting Comptroller of the Currency Michael Hsu said the agency is working with a number of other financial regulators to coordinate digital asset regulation. Regarding cryptocurrencies and decentralized finance, Hsu "said it is necessary for regulators to 'ensure that crypto/DeFi activities that take place within the banking system or are facilitated by banks are trustworthy.'" However, since most DeFi activity "takes place outside of the regulated banking system, it is unclear whether Hsu's remarks can be interpreted as reflecting OCC's aspiration to extend its purview over DeFi platforms."

After the departure of the last Acting Comptroller of the Currency, who was looking to aggressively coordinate regulators and crypto companies, US regulators appear to be at odds with crypto and distributed ledger approaches. In Russia, on the other hand, Sber is purportedly working with Russia's central bank to register its digital assets platform, "which would pave the way for the launch of the digital assets trading platform in Russia." If the US appears hostile to crypto and Russia appears accommodating, Russia may be in a much stronger position as a world financial player if crypto continues to emerge.