Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:BlackRock is in the Running for Yet Another Government Gig Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, October 08, 2009

BlackRock is in the Running for Yet Another Government Gig

Reported by Daniel Tovrov

BlackRock is in the running for another federal contract. The New York City-based asset manager -- which assisted the government in assessing securities at AIG, Bear Stearns, Fannie Mae and Freddie Mac, and is also one of the managers in the Private Public Investment Program -- is on a short list of candidates for a National Association of Insurance Commissioners contract to analyze risk and valuate loss for insurers' investments, the Wall Street Journal reported.

Traditionally, the NAIC work has been given to the major ratings firms, but a group of government regulators will cast a vote next week to decide if the raters should continue, according to the report. By switching away from rating agencies, regulators are looking for a more reliable assessment process.

If approved, BlackRock will be responsible for analyzing risk in bonds backed by residential mortgages. The results would provide regulators with data for insurers' 2009 financial statements, and the the contract would expire on December 31.

Insurance regulators have also held talks with PIMCO's advisory branch and D.C. based firm Promontory Financial Group

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2018
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use