US bank regulator tables plans to scrutinize asset manager stakes in banks

Reuters04-25

WASHINGTON, April 25 (Reuters) - A top US bank regulator opted not to consider new rules that would have imposed stricter oversight on asset managers with sizeable investments in banks, even as agency officials agreed the matter merited more attention.

The Federal Deposit Insurance Corporation postponed votes on two competing proposals that would have allowed the agency to conduct more scrutiny on asset managers after it was clear neither had the majority backing of the five-member board. But officials said they planned to refine the proposals and continue discussing oversight of asset managers with big bank stakes.

(Reporting by Pete Schroeder)

((Pete.Schroeder@thomsonreuters.com; 202-310-5485;))

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