Regulators examine BlackRock, Vanguard, and State Street's stakes in US banks over potential influence on bank management.
Regulators scrutinize BlackRock, Vanguard, and State Street over their large holdings in US banks. The three fund managers, managing over $23 trillion in assets, hold more than 10% stakes in several banks, a threshold typically indicating controlling interest. The Federal Deposit Insurance Corp (FDIC) is examining if these firms are maintaining passive investment roles in banks, following concerns over potential influence on bank management.
April 02, 2024
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