BlackRock Stares Down FDIC Before Deadline Over Bank Stakes
- Asset manager is seeking to delay Friday deadline to March 31
- Request would push negotiations into the Trump administration
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BlackRock Inc. is resisting the Federal Deposit Insurance Corp.’s demands that the world’s largest asset manager submit to new oversight of its stakes in US banks, seeking to delay negotiations into the Trump administration.
The FDIC had set a Jan. 10 deadline for BlackRock to sign an agreement. But in a letter to the agency, the company asked for an extension until at least March 31, saying it had only two weeks to review a proposed pact that risks hurting its ability to serve clients.