BlackRock handling asset purchases for Treasury/Fed

Thats a very BIG Deal!

BlackRock, Inc. is an American global investment management corporation based in New York City. Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager, with $7.4 trillion in assets under management as of end-Q4 2019.[3] BlackRock operates globally with 70 offices in 30 countries and clients in 100 countries.[4] Due to its power and the sheer size and scope of its financial assets and activities, BlackRock has been called the world's largest shadow bank.

https://en.wikipedia.org/wiki/BlackRock

BlackRock to waive fees for running Federal Reserve bond-buying program

BlackRock, the massive asset manager tapped to manage the Federal Reserve's bond purchase stimulus program, will charge no fee, according to a term sheet released late Friday. BlackRock BLK, -3.88% will also credit back the value of all underlying fees and income that it earns on its own exchange-traded funds within the program. "Net fees for BlackRock, including the value of the credit, shall be made public on a regular basis," the term sheet said. The company also pledged to "treat BlackRock-sponsored ETFs on the same neutral footing as third-party ETFs." The terms came after some criticism was directed at the Fed for giving the contract to a well-connected Wall Street firm.

https://www.marketwatch.com/story/blackrock-to-waive-fees-for-running-bond-buying-program-2020-03-27

Largest Institutional Holder:

PNC Financial Services Group, Inc. 34,016,042 Dec 30, 2019 21.97% 17,099,864,313

https://finance.yahoo.com/quote/BLK/holders?p=BLK

https://finance.yahoo.com/quote/BLK/profile?p=BLK

>>8598205

do you think they are supporting the stocks through special vehicles?

any credence here in your opinion.

– the Fed would buy Treasury bonds and/or mortgage-backed securities from the primary dealers, which are Wall Street banks, and credit the accounts of the primary dealers with newly created money. The banks would then withdraw all or part of that deposit to purchase bonds from other institutions, paying those institutions with the money that was previously given to them by the Fed. That money would then be used to purchase other categories of financial assets, including common stocks.

>>8598206

are they going to be propping up the stock market? dont mean to work against things but i do have some shorts? the market is crazy with huge one tick moves.

i had shorts but didnt get out in time @ 8200