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BlackRock Inc.
BLK,
plans to step up its purchases of assets that banks are selling to boost capital and liquidity, according to a report by American Banker. Gary Shedlin, a vice chairman of the money manager of $8.6 trillion in clients funds, told the publication that BlackRock is positioning itself as a capital source for banks looking to sell loan portfolios or asset-backed securities. BlackRock stock is up 5.3% in 2023, compared to a 19% increase by the S&P 500
SPX,
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