{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='WRAP Major markets settle after initial hike in early trading; ADDS UK strategist' data-url='/boclips/videos/5c54c220d8eafeecae157597' data-video-url='/boclips/videos/5c54c220d8eafeecae157597' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nWRAP Major markets settle after initial hike in early trading; ADDS UK strategist\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eMoscow, Russia1. Tilt down exterior of MICEX (Moscow Interbank Currency Exchange)2. Mid of people walking into MICEX entrance3. Wide of trading floor interior4. Mid pan of traders5. Close-up of bell6. SOUNDBITE: (English) Aleksei...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eMoscow, Russia\u003cbr/\u003e1. Tilt down exterior of MICEX (Moscow Interbank Currency Exchange)\u003cbr/\u003e2. Mid of people walking into MICEX entrance\u003cbr/\u003e3. Wide of trading floor interior\u003cbr/\u003e4. Mid pan of traders\u003cbr/\u003e5. Close-up of bell\u003cbr/\u003e6. SOUNDBITE: (English) Aleksei Rybnikov, MICEX General Director: \u003cbr/\u003e\"We can see that the liquidity which was provided to the market by the Russian financial authorities - the Ministry of Finance, the Central Bank - is currently coming to the market, which gives it the ability to restart functioning in a normal mode.\"\u003cbr/\u003e7. Wide of street\u003cbr/\u003e8. Wide of exchange office worker changing currency rates \u003cbr/\u003e9. Close-up of hand changing figures \u003cbr/\u003e10. SOUNDBITE: (Russian) Nadezhda Vladimirovna, Moscow resident: \u003cbr/\u003e\"Anyway, I do not have enough salary. What financial crisis? Where is it? It has an impact on wealthy people. Obviously they possess bank accounts and may lose money or something else, but the average working person has the same salary as before. It is moderate and it is very hard to live on it.\"\u003cbr/\u003eFrankfurt, Germany\u003cbr/\u003e11. Various of Frankfurt Stock Exchange\u003cbr/\u003e12. SOUNDBITE: (German) Stefan Scharffetter, Trader at Baader Wertpapierhandelsbank AG:\u003cbr/\u003e\"In Europe, this is not necessary. We have a completely different banking system, the banks in Europe and in Germany have a wider range of business. This crisis, this scenario - we will not see in Europe. I think that measures like those (the US Financial Aid package) will not be seen in Europe.\"\u003cbr/\u003e13. Wide of board in stock exchange\u003cbr/\u003eParis, France\u003cbr/\u003e14. Various interiors of Richelieu Finance trading room, traders at desk\u003cbr/\u003e15. Close-up of screen showing figures for European and Asian indices\u003cbr/\u003e16. SOUNDBITE: (French) Nathalie Pelras, Head of Equity Management, Richelieu Finance:\u003cbr/\u003e\"For the moment the authorities are focused on the problem of the financial stocks. It means that everything is being done to avoid a cataclysm of the financial stocks. This means that we are helping the most fragile cases and those which have taken the biggest risks. The impact it could have on the economy, all these positions short on the financials are being transferred to other industrial values, that is not being taken yet into account by the market. Today it is far too early to see clearly, what is important to see is that these exceptional measures respond with exceptional risks so it was logical that this technical increase was only technical and not fundamental because it is far too early for that.\"\u003cbr/\u003e17. Close-up of trader on phone\u003cbr/\u003e18. Close-up of computer screen \u003cbr/\u003eLondon, United Kingdom\u003cbr/\u003e19. Pan right from skyline view of London and River Thames to BGC Partners trading floor  \u003cbr/\u003e20. Various of traders\u003cbr/\u003e21. SOUNDBITE: (English) Howard Wheeldon, senior strategist with BGC Partners:   \u003cbr/\u003e\"Last night we had an interesting situation, in that Morgan Stanley and Goldman Sachs are essentially applying to go under the Fed's umbrella in terms of regulation, i.e becoming larger holding commercial banks. That, I think, is another positive signal which markets will positively respond to in the US.\"     \u003cbr/\u003e22. Cutaway of traders\u003cbr/\u003e23. SOUNDBITE: (English) Howard Wheeldon, senior strategist with BGC Partners: \u003cbr/\u003e\"We now currently have three regulators here in the UK looking over banks. We need one regulator and that needs to be the Bank of England. So, pontificating by politicians of changing regulation, frankly, all that means is going back to the status quo in a system that actually worked very well until it was tinkered with by Gordon Brown.\"        \u003cbr/\u003e24. Mid of traders\u003cbr/\u003e25. Wide exterior of Canary Wharf\u003cbr/\u003eGlobal markets were mixed Monday after the United States Government proposed a 700 (b) billion US dollar plan to solve the world financial crisis by rescuing banks from billions (b) of dollars in risky mortgage debt.\u003cbr/\u003eEuropean markets, after edging higher in early trading, had fallen by afternoon in Europe. \u003cbr/\u003eBritain's FTSE 100 lost 0.39 percent to 5,290.82, Germany's DAX slumped 0.30 percent to 6,170.83 and France's CAC 40 dropped 0.11 percent to 4,320.01.\u003cbr/\u003eGlobal markets had rallied on Friday at news Washington was likely to announce a bailout plan, calming investors worried that losses from bad bets on mortgages could bring about the collapse of more companies, straining an already weakened financial system and global economy.\u003cbr/\u003eAs a rough outline of the plan took shape over the weekend, the Bush administration continued to lobby lawmakers on Sunday for authority to use 700 (b) billion to buy up a mountain of bad debt at the heart of the crisis.\u003cbr/\u003eIn Russia, stocks inched up on Monday following big gains for all indexes last week, with the US dollar-denominated RTS adding 1.6 percent.\u003cbr/\u003eOn Friday, Russian markets rebounded on the government's emergency measures that included more money for banks and purchases of shares.\u003cbr/\u003eSpeaking on Monday, after the Russian market had re-opened after the weekend break, MICEX General Director Aleksei Rybnikov said the market was up due to the Russian government's emergency measures.\u003cbr/\u003e\"We can see that the liquidity which was provided to the market by the Russian financial authorities - the Ministry of Finance, the Central Bank - is currently coming to the market, which gives it the ability to restart functioning in a normal amount,\" he said. \u003cbr/\u003eOn the streets of the Russian capital, there was mixed opinion on the impact of the crisis.\u003cbr/\u003eMoscow resident, Nadezhda Vladimirovna said she was not paid enough for her to really feel the financial crisis.\u003cbr/\u003e\"I do not have enough salary. What financial crisis? Where is it? It has an impact on wealthy people. Obviously they possess bank accounts and may lose money or something else, but the average working person has the same salary as before. It is moderate and it is very hard to live on it.\"\u003cbr/\u003eIn Germany, one financial expert, Stefan Scharffetter, told AP Television that it was not clear whether the markets had hit their lowest point yet.\u003cbr/\u003eScharffetter said the banking system in Europe was \"completely different\" and therefore the crisis in the US was unlikely to occur there.\u003cbr/\u003e\"The banks in Europe and in Germany have a wider range of business. This crisis, this scenario - we will not see in Europe. I think that those measures (referring to the US Financial Aid package) will not be seen in Europe.\"\u003cbr/\u003eIn France, Nathalie Pelras, Head of Equity Management at Richelieu Finance, said everything was being done to \"avoid a cataclysm of the financial stocks.\"\u003cbr/\u003e\"For the moment the authorities are focused on the problem of the financial stocks,\" she said.\u003cbr/\u003e\"This means that we are helping the most fragile cases and those which have taken the biggest risks.\"\u003cbr/\u003e\"Today it is far too early to see clearly, what is important to see is that these exceptional measures respond with exceptional risks so it  was logical that this technical increase was only technical and not fundamental because it is far too early for that,\" Pelras added. \u003cbr/\u003eCash demand showed some signs of easing as European central banks offered more liquidity to money markets.\u003cbr/\u003eAccording to the Bank of England, it offered 40 (b) billion US dollars in a one-day tender, for which the bank said it received 26 (b) billion US dollars in bids, but didn't indicate from how many banks.\u003cbr/\u003eBut the European Central Bank said it received bids worth 82.1 (b) billion US dollars for the 40 (b) billion US dollars it offered in a one-day transaction, or more than double what it had offered.\u003cbr/\u003eMonday's moves come after central banks in Britain, Canada, the United States, Japan and Canada last week supplied cash to banks that had become wary of lending to one another in the aftermath of the bailout of AIG and the bankruptcy of Lehman Brothers. \u003cbr/\u003eBanks have been increasingly reluctant to lend to each other as distrust spread throughout the financial system.\u003cbr/\u003eLate on Sunday, the Federal Reserve granted Goldman Sachs and Morgan Stanley, the country's last two major investment banks, approval to change their status to bank holding companies. \u003cbr/\u003eThat would allow the companies to set up commercial banks that would be able to take deposits, significantly bolstering the resources of both.\u003cbr/\u003eThe change of status means both companies will come under the direct regulation of the Fed, which oversees US bank holding companies. \u003cbr/\u003eThe banking subsidiaries of the two institutions will face the stricter regulations that commercial banks are required to meet. \u003cbr/\u003ePreviously, the primary regulator for Goldman and Morgan Stanley was the Securities and Exchange Commission.\u003cbr/\u003eHoward Wheeldon, a senior strategist with BGC Partners in London, said the move was \"another positive signal which markets will positively respond to in the US.\"     \u003cbr/\u003eAs the US government continues to try to steady the nation's financial system, Wheeldon said the UK needed to reform its banking regulation system.\u003cbr/\u003e\"We need one regulator and that needs to be the Bank of England,\" he said.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star-half-stroke text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003c/span\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt class=\"educator-rating-title\"\u003eEducator Rating\u003c/dt\u003e\u003cdd\u003e\u003cdiv class=\"educator-rating-details\" data-path=\"/educator_ratings/rrp_data?resourceable_id=1079467\u0026amp;resourceable_type=Boclips%3A%3AVideoMetadata\"\u003e\u003cspan class=\"not-yet-rated\"\u003eNot yet Rated\u003c/span\u003e\u003c/div\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eGrade\u003c/dt\u003e\u003cdd title=\"Grade\"\u003eHigher Ed\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eSubjects\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?grade_ids%5B%5D=259\u0026amp;search_tab_id=1\u0026amp;subject_ids%5B%5D=1216220\"\u003eAll Subjects\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eMedia Type\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?grade_ids%5B%5D=259\u0026amp;search_tab_id=2\u0026amp;type_ids%5B%5D=4543650\"\u003eNews Clips\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eSource:\u003c/dt\u003e\n\u003cdd\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eDate\u003c/dt\u003e\n\u003cdd\u003e2008\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003ci aria-hidden='true' class='fai fa-solid fa-language'\u003e\u003c/i\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eAudiences\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?audience_ids%5B%5D=371079\u0026amp;grade_ids%5B%5D=259\u0026amp;search_tab_id=1\"\u003eFor Teacher Use\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\u003cdd class=\"text-muted\"\u003e\u003ci class=\"fa-solid fa-lock mr5\"\u003e\u003c/i\u003e2 more...\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='concepts-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='concepts-heading'\u003eConcepts\u003c/h2\u003e\n\u003cdiv class='clearfix'\u003e\n\u003cdiv class='details-list concepts' data-identifier='Boclips::VideoDecorator' data-type='concepts'\u003efrance, england, germany, london, western europe, europe, eastern europe, banks, business, economy, russia\u003c/div\u003e\n\u003cdiv class='concepts-toggle-buttons' data-identifier='Boclips::VideoDecorator'\u003e\n\u003cbutton aria-expanded='false' class='more btn-link' type='button'\u003e\n\u003cspan\u003eShow More\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-down ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003cbutton aria-expanded='true' class='less btn-link' style='display: none;' type='button'\u003e\n\u003cspan\u003eShow Less\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-up ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='additional-tags-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='additional-tags-heading'\u003eAdditional Tags\u003c/h2\u003e\n\u003cdiv class='clearfix'\u003e\n\u003cdiv class='details-list keyterms' data-identifier='Boclips::VideoDecorator' data-type='keyterms'\u003ebanking and credit regulation, stock prices, russia government, central banking, coming, frankfurt, government regulations, morgan stanley, government business and finance, financial markets, baader wertpapierhandelsbank ag, united states government, economic policy, booked, government and politics, industry regulation, financial services, industries, united kingdom, government policy, bank, financial industry regulation, back, government aid for industry, financial crisis, regulation, leading economic indicators, commercial banking, moscow, banking and credit, goldman sachs group inc, federal reserve system, market\u003c/div\u003e\n\u003cdiv class='keyterms-toggle-buttons' data-identifier='Boclips::VideoDecorator'\u003e\n\u003cbutton aria-expanded='false' class='more btn-link' type='button'\u003e\n\u003cspan\u003eShow More\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-down ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003cbutton aria-expanded='true' class='less btn-link' style='display: none;' type='button'\u003e\n\u003cspan\u003eShow Less\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-up ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='educator-ratings-heading' class='rp-info-section'\u003e\n\u003ch2 class='title sr-only' id='educator-ratings-heading'\u003eEducator Ratings\u003c/h2\u003e\n\u003cdiv id=\"educator-ratings-root\"\u003e\u003c/div\u003e\u003cdiv id=\"all-educator-ratings-root\"\u003e\u003c/div\u003e\u003cdiv id=\"educator-rating-form-root\"\u003e\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-resource'\u003e\n\u003cdiv aria-label='Show resource details' class='rp-show-info' role='button' tabindex='0'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\nShow resource details\n\u003c/div\u003e\n\u003cdiv aria-label='Video player' class='player' id='player-wrapper' role='region'\u003e\n\u003cdiv class='relative container mx-auto' id='lp-boclips-visitor-thumbnail'\u003e\n\u003ca class=\"block\" data-html=\"true\" data-placement=\"bottom\" data-trigger=\"click\" data-content=\"\u003cdiv class=\u0026quot;text-center py-2\u0026quot;\u003e\u003ca class=\u0026quot;bold\u0026quot; href=\u0026quot;/auth/users/sign_in\u0026quot;\u003eSign in\u003c/a\u003e or \u003ca class=\u0026quot;bold text-danger\u0026quot; data-posthog-event=\u0026quot;Signup: LP Signup Activity\u0026quot; data-posthog-location=\u0026quot;body_link_boclips\u0026quot; data-remote=\u0026quot;true\u0026quot; href=\u0026quot;/subscription/new\u0026quot;\u003eJoin Now\u003c/a\u003e\u003c/div\u003e\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" aria-label=\"Play video: WRAP Major markets settle after initial hike in early trading; ADDS UK strategist\" href=\"/subscription/new\"\u003e\u003cimg class=\"resource-img img-thumbnail img-responsive z-10 lp-boclips-thumbnail w-full h-full lozad\" alt=\"WRAP Major markets settle after initial hike in early trading; ADDS UK strategist\" title=\"WRAP Major markets settle after initial hike in early trading; ADDS UK strategist\" onError=\"handleImageNotLoadedError(this)\" data-default-image=\"https://static.lp.lexp.cloud/images/attachment_defaults/resource/large/missing.png\" data-src=\"https://static.lp.lexp.cloud/images/attachment_defaults/resource/large/missing.png\" width=\"315\" height=\"220\" src=\"data:image/png;base64,R0lGODlhAQABAAD/ACwAAAAAAQABAAACADs\" /\u003e\n\u003cspan aria-hidden='true' class='flex justify-center items-center bg-white rounded-full w-16 h-16 absolute top-1/2 left-1/2 -mt-8 -ml-8 cursor-pointer z-0 border-2 border-primary drop-shadow-md lp-boclips-thumbnail-playBtn'\u003e\n\u003ci class='fa-solid fa-play text-primary text-3xl ml-1 drop-shadow-xl'\u003e\u003c/i\u003e\n\u003c/span\u003e\n\u003c/a\u003e\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n"}