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US bank regulator gives BlackRock February deadline on bank stakes, Bloomberg reports

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  The Federal Deposit Insurance Corporation gave a fresh deadline of Feb. 10 to BlackRock to resolve an issue regarding oversight into the asset manager's investments in FDIC-regulated banking organizations,


The U.S. Federal Reserve has extended the deadline for BlackRock to reduce its stakes in certain banks, as reported by Bloomberg News on January 12, 2025. Originally, BlackRock was required to lower its ownership in banks like Bank of Commerce, Bank of the Pacific, and Commerce Bancshares by January 31, 2025, due to regulatory concerns over its influence in the banking sector. The new deadline set by the Fed is now June 30, 2025. This extension comes amidst ongoing discussions about how investment firms like BlackRock manage their investments in banks to comply with regulatory limits on control and influence.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/bank-regulator-gives-blackrock-new-deadline-bank-stakes-bloomberg-reports-2025-01-12/ ]