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FDIC Sets January Deadline for BlackRock on Bank Investment Agreement

share-iconTuesday, December 31 comment-icon3 weeks ago 5 views
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reutersREUTERS
FDIC Sets January Deadline for BlackRock on Bank Investment Agreement

Credited from: REUTERS

  • The FDIC has informed BlackRock that it has until January 10 to agree to an increased scrutiny arrangement.
  • A related agreement was made with Vanguard, which fortifies the regulations for passive investing in FDIC-regulated banks.
  • Both companies must sign "passivity agreements" to allow the FDIC greater oversight of their investment influence.
  • The proposal BlackRock received is reported to be largely similar to Vanguard’s terms, indicating consistent regulatory measures.
  • Consequences for non-compliance with the January deadline from the FDIC are currently unclear.

For more information, visit the original article here.

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