Skip to Primary Navigation

Skip to main content

FDIC looks to tighten control of asset managers’ bank stakes

Image of Michael Hsu (OCC) and Michael Gruenberg (FDIC) chatting at a conference table.
The OCC’s Michael Hsu and FDIC Chairman Martin Gruenberg supported Chopra’s proposal. Photo: Drew Angerer/Getty Images

Julie DiMauro

2 min read
 Click to share on Facebook (Opens in new window/tab) Click to share on Twitter (Opens in new window/tab) Click to share on LinkedIn (Opens in new window/tab) Click to share on WhatsApp (Opens in new window/tab)

FDIC officials might review “passivity agreements” with large asset managers, to ensure they are not taking an active role in bank management.

The Federal Deposit Insurance Corporation (FDIC) issued a proposal July 30 that would increase its oversight of the largest asset managers, such as BlackRock and Vanguard, that hold hefty investments in banks.

The proposal would “launch a broader inquiry into very large asset managers that are accumulating increasingly large

, , , , , ,