Fed Enlists BlackRock In Its Massive Debt-Buying Programs
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The Federal Reserve tapped BlackRock Inc. to shepherd several debt-buying programs on behalf of the U.S. central bank as it works to revive an economy reeling from the spread of coronavirus.
BlackRock, the world’s largest asset manager, will serve as an investment adviser and manage assets for three separate programs, the New York Fed said Tuesday. Those include two new facilities the central bank announced Monday to provide liquidity to corporate borrowers, as well as purchases of agency commercial mortgage-backed securities.