BlackRock seeks to push FDIC bank oversight deadline to March

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BlackRock seeks to push FDIC bank oversight deadline to March

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BlackRock seeks to push FDIC bank oversight deadline to March

^{Published on 2025-01-10 03:40:47 - Reuters}

BlackRock has asked the U.S. Federal Deposit Insurance Corporation to extend its deadline to reach an agreement on how the agency would oversee the giant asset manager's investments in FDIC-regulated banking organizations from Friday until March 31,

BlackRock, the world's largest asset manager, is advocating for the U.S. Federal Deposit Insurance Corporation (FDIC) to extend the deadline for banks to comply with new oversight rules from April 1, 2024, to March 31, 2025. This request comes in response to the FDIC's proposal to enhance oversight of banks with assets between $100 billion and $250 billion, which includes stricter capital and liquidity requirements. BlackRock argues that the current timeline does not provide sufficient time for banks to adapt to these new regulations, especially given the complexity and the need for banks to adjust their business models and systems. The firm suggests that an additional year would allow for a smoother transition, reducing potential disruptions in the financial markets and ensuring that banks can meet the new standards effectively.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/blackrock-seeks-push-fdic-bank-oversight-deadline-march-2025-01-09/ ]

Contributing Sources

Reuters

N@N

BlackRock seeks to push FDIC bank oversight deadline to March