BlackRock to manage $114bn of asset disposals after US bank failures

US regulators have appointed BlackRock’s advisory arm to help sell a $114bn portfolio of securities inherited after the government takeovers of failed lenders Silicon Valley Bank and Signature Bank in March.

The fate of the holdings, which consist of mortgage-backed securities, collateralised mortgage obligations, and commercial mortgage-backed securities, had rattled bond markets, which feared the Federal Deposit Insurance Corporation could chose to dump the portfolio and push down prices.