BlackRock Picked by Insurance Regulators to Weigh CMBS Risks
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BlackRock Inc., the world’s biggest money manager, was hired by state insurance regulators to assess the industry’s potential losses from holding commercial mortgage-backed securities.
BlackRock will review more than 7,000 CMBS securities by year-end, the National Association of Insurance Commissioners said today in a statement released on its website. The New York-based firm will calculate loss expectations for the holdings, which in turn determines how much capital insurers must hold to cushion potential declines, the NAIC said.