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President Barack Obama speaks about the Affordable Care Act during an event in the East Room of the White House in Washington, Thursday, July 18, 2013. Obama argued that his Affordable Care Act is holding insurance companies accountable and putting money back into the pockets of consumers. (AP Photo/Susan Walsh)
President Barack Obama speaks about the Affordable Care Act during an event in the East Room of the White House in Washington, Thursday, July 18, 2013. Obama argued that his Affordable Care Act is holding insurance companies accountable and putting money back into the pockets of consumers. (AP Photo/Susan Walsh)
Michelle Quinn, business columnist for the Bay Area News Group, is photographed for a Wordpress profile in Oakland, Calif., on Wednesday, July 27, 2016. (Anda Chu/Bay Area News Group)
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The White House is creating a new cybersecurity agency that will act as a rapid response team collating all intelligence about threats and breaches, the Washington Post reported.

The creation of the agency, which will be called the Cyber Threat Intelligence Integration Center, or CTIIC, comes after a series of high profiled attacks on businesses and governments.

On Friday, President Barack Obama will speak at a summit on cybersecurity at Stanford University. There, he is expected to announce “an executive action” to expand efforts for cybersecurity information sharing between business and the Department of Homeland Security, The Hill reported.

The new agency will be modeled after the National Counterterrorism Center, which was created after the al-Qaeda attacks in 2001 to better coordinate intelligence information across government agencies.

Lisa Monaco, assistant to the president for homeland security and counterterrorism, told the Post:

The cyberthreat is one of the greatest threats we face, and policymakers and operators will benefit from having a rapid source of intelligence. It will help ensure that we have the same integrated, all-tools approach to the cyberthreat that we have developed to combat terrorism.

Some question whether another federal agency is needed. But Monaco told the Post that the increasing cybersecurity threat could benefit from pooling resources and intelligence.

Above: President Barack Obama. (AP Photo/Susan Walsh)