The FDIC enlisted BlackRock's Financial Market Advisory unit to help sell off $114 billion in leftover assets from recently failed banks, a role the influential firm has played before.
Gargi Chaudhuri, BlackRock head of iShares investment strategy, discusses whether banking anxieties will impact the Fed's next interest-rate decision on"The Claman Countdown."to help dispose of more than $100 billion in securities without causing further turmoil in financial markets.has taken three large regional banks into receivership since March after they failed due to liquidity problems.
In early April, the FDIC announced that it retained the services of BlackRock Financial Markets Advisory to help sell the $114 billion in assets it kept in receivership after the failures of Silicon Valley Bank and Signature Bank in March and their subsequent sale to other financial institutions. The FDIC tapped the BlackRock Financial Markets Advisory unit to sell off $114 billion in leftover assets by Silicon Valley Bank and Signature Bank after their failures this spring.
The BlackRock FMA unit has gained a reputation as a sort of financial crisis fixer. It helped manage the fallout from the collapse of Bear Stearns and took on American International Group’s toxic mortgage portfolio amid the 2008 financial crisis when it also advised the
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