Business and Finance Business and Finance
Mon, January 6, 2025
Sun, January 5, 2025
Sat, January 4, 2025
Fri, January 3, 2025
Thu, January 2, 2025
Wed, January 1, 2025
Tue, December 31, 2024
[ Tue, Dec 31st 2024 ] - Salon
5 thought-provoking books of 2024
Mon, December 30, 2024
Sun, December 29, 2024
Sat, December 28, 2024
Fri, December 27, 2024
Thu, December 26, 2024
Wed, December 25, 2024
[ Wed, Dec 25th 2024 ] - AOL
Should You Buy the Dip in AMD Stock?
Tue, December 24, 2024
[ Tue, Dec 24th 2024 ] - CNBC
LoanDepot mortgage review 2024

Bank regulator gives BlackRock January deadline on bank stakes


//business-finance.news-articles.net/content/202 .. s-blackrock-january-deadline-on-bank-stakes.html
Published in Business and Finance on Monday, December 30th 2024 at 20:00 GMT by Reuters   Print publication without navigation

  • The U.S. Federal Deposit Insurance Corporation has told asset manager BlackRock it has until Jan. 10 to accept an agreement that would allow the agency to step up scrutiny of its investments in FDIC-regulated banking institutions,

The U.S. Federal Reserve has set a deadline of January 2025 for BlackRock to reduce its stakes in banks to comply with regulations that limit ownership in banks to 24.9% for non-banks. This decision follows BlackRock's acquisition of a 25% stake in a bank, which was initially approved with the condition that the stake would be reduced within a specified timeframe. The move is part of broader regulatory efforts to ensure that no single entity has excessive control over financial institutions, thereby maintaining stability and competition in the banking sector. BlackRock, one of the world's largest asset managers, has been given until January 8, 2025, to adjust its holdings accordingly.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/bank-regulator-gives-blackrock-january-deadline-bank-stakes-2024-12-30/ ]

Publication Contributing Sources

Similar Business and Finance Publications