Trump administration to roll back banking rules
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 19 May 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
The UK is holding its first summit with the European Union since Brexit, and US authorities are preparing to announce one of the biggest cuts in banks’ capital requirements in more than a decade. Plus, European leaders are hoping to influence US President Donald Trump ahead of his call with Russian President Vladimir Putin, and China is on its way to becoming the world’s first “electrostate.”
Mentioned in this podcast:
UK and EU reset talks go ‘down to the wire’
Europe races to influence Trump ahead of Putin call
US poised to dial back bank rules imposed in wake of 2008 crisis
How Xi sparked China’s electricity revolution
Today’s FT News Briefing was produced by Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Alexander Higgins and Peter Barber. Topher Forhecz is the FT’s acting co-head of audio. 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 | We're Equinor, an energy company searching for better. Currently, we supply 27% of the UK's gas, |
| 0:07.0 | 15% of its oil, and we're playing our part in the UK's energy transition. In 2023, we invested |
| 0:14.1 | 20% of our global gross spend in renewables and lower carbon solutions. Today, our wind farms power |
| 0:20.0 | 750,000 homes, and we expect this to grow |
| 0:23.1 | to over 7 million UK households. We're an energy company searching for better. Equinor.com. |
| 0:29.0 | UK. |
| 0:34.5 | Good morning from the Financial Times. Today is Monday, May 19th, and this is your FT News Briefing. |
| 0:41.0 | The UK and the European Union are looking to patch things up, |
| 0:45.4 | and U.S. regulators want to roll back major banking rules. |
| 0:49.7 | Plus, China is going all in on electric power. |
| 0:54.4 | I'm Kasha Brusalian, and here's the news you need to start your day. |
| 1:08.5 | The UK and the EU are holding their first summit today since Brexit. |
| 1:14.0 | Senior European officials will meet Prime Minister Kier-Starmer in London to sign a defense and security partnership. |
| 1:20.8 | It's a significant move for both sides. |
| 1:23.4 | They're trying to make up after a messy divorce. |
| 1:26.3 | But don't quite call it a reset, at least not yet. |
| 1:29.7 | One of the big things still on the agenda is long-term access to UK fishing grounds. |
| 1:35.0 | The EU wants it, but the UK is on the fence. |
| 1:38.2 | The current agreement is supposed to expire next June. |
| 1:46.4 | The U.S. put in some serious banking regulations after the 2008 global financial crisis. |
| 1:53.4 | Now there's a move to claw some of them back. |
| 1:56.7 | Regulators will soon announce a big cut to capital requirements. |
... |
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