NY Community Bancorp plunge: What it means for regional banking sector at large
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- čas přidán 12. 06. 2024
- Liz Hoffman, Semafor business and finance editor, joins 'Squawk Box' to discuss turmoil facing New York Community Bancorp, what it means for the regional banking sector at large, and more.
0:55 Ms. Hoffman, I understand your concern. While it's true that NYCB has held commercial real estate loans for some time, yesterday's news was specifically about the significant dividend cut announced by the bank and the increase in loan loss reserves to improve their CET ratio. This decision aimed to strengthen their balance sheet in response to exceeding the $100 billion asset threshold, which triggers stricter regulatory requirements for larger banks. This status change arose from their acquisition of Signature Bank assets.4:58 NYCB's CEO highlighted that customers are currently hesitant to refinance due to anticipated interest rate cuts. A balanced presentation with both the bank's perspective and expert analysis would likely offer a more complete picture for viewers.
As the start of the commercial property sector states to show it's failing . NY will get what's coming first .
This is 2008 in commercial property this time. They can’t give guidance because if they did they’d have to admit as commercial property goes down, the regional banks become insolvent very quickly.
A bank will never admit any proplems. They just crash/disappear. See Credit Suisse, Lehman Brothers, SVB etc.
I guess this applies to every industry. Any company will always find something positive to focus on when going bankrupt.
Credit Suisse issues have been documented here in Switzerland for years. I understand however, press freedoms in the US don't rank quite as high.
Andrew keeps trying to get her to wrap up but she did not get the message, but I do like the image of the title of the book over her head.
Buying treasury bonds is considered smart and encouraged by the regulators. Not stupid . The spike in interest rates changed the value of those bonds and destroyed the market .
SVB and the other's executives were stupid (grossly incompetent) because they didn't plan for the interest rate increases that the Fed was telegraphing many months in advance, and then they refused to mark down the assests because that would affect their reported profits and therefore decrease the value of their stock based compensation.
We need local banks as they allow small business get the capital they need. Big banks don't like giving capital to small businesses....and most people work for a small company not a large corporation. Honestly we want it that way as large corporations have enough power already
Literally nothing you said here has anything to do with this bank and commercial real estate 😊
It's not money, it's currency. It doesn't sit in the bank, it's lent out.
Hysterical
Andrew ‘Twinkle Toes’ Sorken
So…puts on regionals?
Not that fast. Wait till Jerome Powell cuts rates these banks will fly
A reasonable hypothesis 🔮 👍
Lady what are you talking about. Could you tell us the question asked
The FED just told us everything is great! What's this?
You haven't figured out they lie! Better vote Trump or the whole country is going to disappear!
This is why we Gold. When the internet crashes good luck with your Bitcoin
Moody's and the Regulaters are surely doing their job.
Find a Credit Union.
There's no reason to believe a credit union is any safer than a national bank
Personally there is nothing a credit union offers that would make me jump ship
you gotta do you. open eyes demonstrate there are ample distinctions between regional banks and credit unions. I think there are clear advantages with CUs. @@thedude5040
COUGH COUGH
ehem ehem :)
🤣🤣 right right🤣🤣
Lady just so you know banks don't invest customer deposits 😂😂😂😂
This is why we Bitcoin.
You know all the cash upto 250,000 in banks is FDIC insured.
So Kia gives you a 10 year warranty does that make it better lol fiat is poopy and every smart investor knows it..
ICP will over take ETH the tech is insane look into it if you want life changing gains!
@bbyevo8u no thanks. I look into value investing for my stock portfolio. To each their own, though.
Hope crypto picks up. But deflation is a problem with BTC.
Move to credit unions!
No. Lol why do you think credit unions are any safer than a bank? Personally there is nothing a credit union offers that would make me want to use them
Get out of the banks as soon as you can people! Traditional finance won't hold for much longer. #bitcoin
Traditional financing was gone in 1971
@@stevewilson4718 the fall began back then, but it didnt crash over a night. We are still in The crash, but it is exponentially accelerating.
dfpi.ca.gov/crypto-scams/
Put on your tin foil hat also
Lol