Stricter rules for US banks
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 28 July 2023
⏱️ 9 minutes
🧾️ Download transcript
Summary
The European Central Bank has raised interest rates back to their record high, and US bank regulators have advanced plans to impose more arduous capital requirements on the country’s large lenders. Plus, the FT’s Elaine Moore says the Twitter/X rebrand doesn’t make sense, but that’s kind of the whole point.
Mentioned in this podcast:
ECB raises interest rates back to record high
Regulators announce ‘Basel III endgame’ rules for large US banks
Twitter/X: maverick rebrand leaves Musk with a cross to bear
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. Additional help from Tom Stokes, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:10.1 | Good morning from the Financial Times. Today is Friday, July 28th. |
| 0:13.8 | This is your FT News Briefing. |
| 0:19.1 | The European Central Bank says it might pause interest rate rises at its next meeting, |
| 0:24.4 | and US banking regulators announced stricter rules yesterday. |
| 0:29.2 | Plus, the FT's Elaine Morris says the Twitter ex-rebrand doesn't really make sense. |
| 0:35.6 | But that's kind of the whole point. |
| 0:38.1 | Because Toshra is no longer a public company, you're not answering shareholders. |
| 0:42.2 | If your favorite letter is X, then you get to call your social media company X as well. |
| 0:47.8 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:59.2 | The European Central Bank raised interest rates by a quarter of a percentage point yesterday. |
| 1:03.6 | It was the ECB's ninth consecutive rate hike. |
| 1:06.8 | But the Central Bank's signal that it might take a pause when it meets next in September. |
| 1:12.1 | I'm joined now by the FT's Frankfurt Bureau Chief Martin Arnold. |
| 1:15.2 | Hi, Martin. |
| 1:16.0 | Hello, Martin. |
| 1:17.2 | All right, so Eurozone inflation was 5.5% in June, which is down considerably from |
| 1:23.0 | double digits last year, but it's still way higher than its 2% target. |
| 1:28.6 | Why would the ECB consider pausing interest rates at this point? |
| 1:32.6 | As everybody knows, Mark, when you raise interest rates, it takes a while for that to feed through |
| 1:41.2 | the banking system and into the cost of lending and through into the real economy, |
... |
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