Post by account_disabled on Feb 27, 2024 18:37:58 GMT -10
NEW YORK — Shares of New York Community Bancorp fell again on Wednesday, this time by 11%, when its credit rating was downgraded to “junk.” Investors fear the regional lender will suffer the same fate as Silicon Valley Bank last year and go bankrupt in the coming days or weeks. NYCB shares have plunged since a week ago, when the bank reported big losses on commercial real estate loans and indicated it was having trouble digesting its acquisition of Signature Bank, completed last year. The shares have fallen 40% since the balance sheet was published. For many, the banking crisis was supposedly over, but some conservative and independent analysts warned that this was not the reality. This is now confirmed by the situation of NYCB and other US regional banks that have chosen to remain silent, but are currently in an unfavorable situation. NYCB bought most of Signature Bank's assets last year when it fell into bankruptcy in mid-March, following in the footsteps of Silicon Valley Bank.
The NYCB called it “garbage” The Signature purchase made NYCB a much larger bank in terms of assets, which by law put it under greater pressure from regulators. The bank had to cut its dividend and increase its capital and liquidity ratios to meet the requirements of federal regulations. But one of the main causes of Kuwait Mobile Number List its fall is the collapse of sales in the real estate sector for two consecutive years and the impact of the banking crisis on investors, in addition to the debt it had to assume from Signature bank. Concerns about an impending bankruptcy are mounting across NYCB's commercial real estate portfolio. The bank reported a loss of $252 million in the fourth quarter, including a provision for credit losses of $552 million, largely tied to the real estate sector. Shares fell 22% on Tuesday. After the market closed, credit rating agency Moody's downgraded the credit rating to "junk." The situation appeared to improve in pre-opening trading on Wednesday, when the bank reported that 72% of its deposits are insured and it has liquidity of $37.3 billion, which exceeds uninsured deposits.
Shares resumed their slide after the open. "Despite the downgrade by Moody's, our deposit ratings from Moody's, Fitch and DBRS remain investment grade," said the bank's CEO, Thomas Cangemi. "Moody's downgrade is not expected to have a material impact on our contractual provisions." What Joe Biden's Government does not say is that the banking crisis in the US did not end after it began in 2023, as analysts have warned. There is also no mention of any mortgage crisis when property sales have been falling almost entirely for two consecutive years with the corresponding impact on the construction sector. The NYCB has a large portion of its client base in real estate investments. That's why the alarm bells are ringing, after a week of signs of low confidence on Wall Street.You may also have a problem with your schema markup. The Ahrefs site audit validates Schema.org and Google standards. Validating structured data in Ahrefs Site Audit Data source: Export Content Gap report data into our Competitive Analysis tool. Exporting data from Ahrefs Immediate: Show me which SERP features are most common. Marginal note. I would probably adjust this message to break them down into individual functions rather than groups of functions.
The NYCB called it “garbage” The Signature purchase made NYCB a much larger bank in terms of assets, which by law put it under greater pressure from regulators. The bank had to cut its dividend and increase its capital and liquidity ratios to meet the requirements of federal regulations. But one of the main causes of Kuwait Mobile Number List its fall is the collapse of sales in the real estate sector for two consecutive years and the impact of the banking crisis on investors, in addition to the debt it had to assume from Signature bank. Concerns about an impending bankruptcy are mounting across NYCB's commercial real estate portfolio. The bank reported a loss of $252 million in the fourth quarter, including a provision for credit losses of $552 million, largely tied to the real estate sector. Shares fell 22% on Tuesday. After the market closed, credit rating agency Moody's downgraded the credit rating to "junk." The situation appeared to improve in pre-opening trading on Wednesday, when the bank reported that 72% of its deposits are insured and it has liquidity of $37.3 billion, which exceeds uninsured deposits.
Shares resumed their slide after the open. "Despite the downgrade by Moody's, our deposit ratings from Moody's, Fitch and DBRS remain investment grade," said the bank's CEO, Thomas Cangemi. "Moody's downgrade is not expected to have a material impact on our contractual provisions." What Joe Biden's Government does not say is that the banking crisis in the US did not end after it began in 2023, as analysts have warned. There is also no mention of any mortgage crisis when property sales have been falling almost entirely for two consecutive years with the corresponding impact on the construction sector. The NYCB has a large portion of its client base in real estate investments. That's why the alarm bells are ringing, after a week of signs of low confidence on Wall Street.You may also have a problem with your schema markup. The Ahrefs site audit validates Schema.org and Google standards. Validating structured data in Ahrefs Site Audit Data source: Export Content Gap report data into our Competitive Analysis tool. Exporting data from Ahrefs Immediate: Show me which SERP features are most common. Marginal note. I would probably adjust this message to break them down into individual functions rather than groups of functions.