BlackRock Tasked With Cleaning Up Banking Mess
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BlackRock, the world's largest asset manager, also plays a less heralded role in the financial services industry: emergency plumber.
Following the collapse of Silicon Valley Bank and Signature Bank, the FDIC has found itself a reluctant owner of some $114 billion worth of securities. But everything must go, and the agency has recruited BlackRock's Financial Markets Advisory (FMA) unit to help find some willing buyers.
Source Fool.com
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