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Oliver Wyman sees industry's costs rising $1B.
Experts say cuts may either have to be shallow or short-lived.
Greenback is a loser this year against all 16 major currencies.
UK regulators announcement last week seen speeding the process of replacing the benchmark.
Replacing the benchmark is part of an ongoing global reform effort.
House GOP stuck on budget disagreements.
U.K. regulator says the benchmark is unsustainable.
