The New York Federal Reserve released the fee structure and terms for its agreement to hire the asset management firm BlackRock to guide some of the central bank's massive bond buying operations.
FILE PHOTO: People walk wearing masks outside The Federal Reserve Bank of New York in New York City, U.S., March 18, 2020. REUTERS/Lucas Jackson
NEW YORK - The New York Federal Reserve released the fee structure and terms for its agreement to hire the asset management firm BlackRock to guide some of the central bank’s massive bond buying operations. The New York Fed said earlier this week that it hired BlackRock to manage bond purchases and oversee certain liquidity facilities, including the secondary market corporate credit facility, which will purchase corporate bonds and exchange-traded funds.
Asset management fees paid to the firm will be tiered in breakpoints and will have a total fee cap. BlackRock will earn a quarterly fee equal to an annualized 2 basis points on the first $20 billion of assets under management, 1.25 basis points on the next $30 billion of assets and no fee for amounts above $50 billion under management.
BlackRock will not earn any other fees or income, including from securities lending, in connection with the facility’s purchase of exchange-traded funds.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
New York sees some signs of progress against coronavirus as New Orleans hit hardGovernor Andrew Cuomo said New York City will close some public streets to vehicles, opening them up to pedestrian traffic to facilitate 'social distancing' to avoid coronavirus infections
Baca lebih lajut »
New York sees glimmer of progress against coronavirus, New Orleans worsensNew Orleans has the world's highest growth rate in coronavirus cases, raising fears it may be a powerful catalyst in spreading the virus across the south of the United States
Baca lebih lajut »
Bill and Hillary Clinton Send Pizza to Hospital Staffs in New YorkBill and Hillary Clinton send free pizzas to hospital staffs in New York.
Baca lebih lajut »
New York hospitals are using vitamin C to treat some coronavirus patients'Taking large doses of vitamin C tablets would be very unlikely to protect you from COVID-19—unless you were actually vitamin C deficient,' Prof. Peter McCaffery told Newsweek.
Baca lebih lajut »
New York says hospitals overwhelmed under almost any coronavirus scenarioIn the United States, more than 82,000 people have tested positive for Covid-19, edging out Italy, which has reported the most deaths, and China, where the virus was first detected in December in the metropolis of Wuhan.
Baca lebih lajut »
Rhode Island governor mandates self-quarantine for travelers from New YorkDemocratic Rhode Island Gov. Gina Raimondo said she is 'mandating, not suggesting,' a 14-day self-quarantine for anyone traveling to her state from New York in the latest clampdown on domestic travel amid the novel coronavirus pandemic
Baca lebih lajut »