Behind the Money
Bankers vs the Fed: ‘Endgame’
Jun 19, 2024
The FT’s US banking editor, Joshua Franklin, discusses the clash between US banks and regulators over the proposed Basel III Endgame rules. Banks worry about potential harm to Americans, while regulators emphasize the need for safer banking practices. The podcast explores the impact of new regulations post-2008 financial crisis, the ongoing conflict between banks and the Fed, and the anticipation for changes in Basel III Endgame rules.
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Quick takeaways
- Basel III regulations aim to strengthen banks post-2008 crisis by requiring increased capital reserves.
- Banks argue against Basel III Endgame, fearing increased costs of lending that could harm consumers.
Deep dives
Basel III Endgame Proposals and Banking Regulation
The podcast discusses the ongoing battle between US banks and regulators over the Basel III Endgame proposals. The Federal Reserve introduced these rules to ensure banks hold more capital to weather financial crises better. While regulators argue it enhances safety to prevent another 2008 crisis, banks, like Citigroup and JP Morgan, criticize the regulations. The proposed changes are expected to increase the cost of lending and financial services, potentially impacting consumers negatively.
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