CMA - New York Community Bancorp plunges again after Moody's downgrades to junk
2024-02-07 06:04:34 ET
The warnings have been coming since the Fed started its aggressive rate-hiking cycle two years ago, but worries are piling up about the health of commercial real estate properties and the bank loans that support them. According to the St. Louis Fed, two-thirds of CRE loans are held by community or regional banks, meaning if things go sour, the sector can fall under immense pressure. As a result, financial regulators are keeping a close eye on the industry, but as in the case of Silicon Valley Bank ( OTC:SIVBQ ), it may be hard to take "sufficient steps" in time despite many supervisory warnings ....
New York Community Bancorp plunges again after Moody's downgrades to junk