The logo for Vanguard is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 1, 2022. REUTERS/Brendan McDermid/File Photo
Washington: The US Federal Deposit Insurance Corp (FDIC) has reached a deal with Vanguard that will strengthen the rules under which the investment management giant can take big stakes in large US financial institutions, according to an agreement published by the watchdog on Friday.
The agreement gives the FDIC more ability to monitor Vanguard’s investment activities and spells out what is allowed as a passive investor in FDIC-supervised banks.
