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BlackRock Hired by ECB as ABS-Program Consultant

The European Central Bank hired BlackRock Inc., the world’s biggest money manager, to advise on developing a program to buy asset-backed securities.

BlackRock Solutions, a unit of the New York-based company, will provide advice on the design and implementation of a potential ABS-purchase plan, an ECB spokesman said in response to e-mailed questions. Safeguards against any conflict of interest are included in the agreement, the spokesman said. The value of the contract wasn’t given.