BlackRock tells Financial Stability Board it backs fund stress tests
BlackRock (BLK.N), the world's biggest asset manager, has told the Financial Stability Board it supports plans to stress test individual mutual funds to make sure they function properly during extreme market environments.
Global regulators are concerned about the ability of funds to function during periods of stress -- including being able to pay back investors -- and had asked leading industry participants to respond to proposed rule changes.
In June, the FSB, set up after the financial crisis to ensure the stability of the financial system, proposed 14 measures to be implemented from the... read more
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