5 Things Friday
This week we introduce 5 Things Friday, a roundup of highlights from our publications, events and interviews. This week, we feature our "Macroprudential Policy" research report, the new edition of the Milken Institute Review and expert panel discussions on cybersecurity.
1. CHART GALLERY
Macroprudential Policy: Silver Bullet or Refighting the Last War?
In the wake of the global financial crisis, decision makers are focusing on how macroprudential policy can reduce systemic risk. We explore the emerging macroprudential policy discussion and the implications for broader monetary policy. Read the full report.
2. In the latest Milken Institute Review, we explain why the gender pay gap persists, explore new financial derivatives to manage risk and increase capital for drug development, and much more.
3. SPEAKING THEIR MINDS
Experts Discuss Cybersecurity
The U.S. government was reportedly hit by two alarming attacks recently. What can be done to protect companies, citizens and governments in the future? Watch our panels.
4. QUOTE OF NOTE
Margaret Anderson on 21st Century Cures
Margaret Anderson, executive director of FasterCures, a center of the Milken Institute, discusses speeding up the development of medical treatments in The Washington Post.
5. VIEWS YOU CAN USE
Why Faster Payments Matter
Most of us are unaware of how money progresses through the U.S. payments system and just how slow the process usually is. It can take more than three days for funds to transfer between bank accounts under the current Automated Clearing House system, in which transactions are batched and sent during prescribed business-hour windows. The current payments system in the U.S., in terms of overall speed, pales in comparison to countries like the UK, where payments can be processed by a nearly instantaneous service. The Federal Reserve is looking at ways to change the U.S. system, and it has convened a Faster Payments Task Force, drawing on expertise from industry participants, consumer advocates, regulators, and other stakeholders (including the Milken Institute) to look at how the country could adopt a real-time payments system. Read more on the Currency of Ideas.