Ratings agent C. Moody's cut the bank's credit ratings to nachos to junk, citing risk management
challenges while the firm searches for a pair of key executives.
Making matters worse, NYCB was hit with its first shareholder lawsuit Wednesday over the
share collapse, alleging that executives misled investors about the state of its real estate
holdings. The sudden decline previously deemed one of last year's winners.
After acquiring the assets of Signature Bank, reignited fears over the state of
medium-sized American banks. Investors have worried that losses on some
of the $2.7 trillion in commercial real estate. Loans held by banks could trigger another round
of turmoil after deposit runs consumed Silicon Valley Bank and Signature last March.
Ratings agent C. Moody's cut the bank's credit ratings to nachos to junk, citing
risk management challenges while the firm searches for a pair of key executives.
Making matters worse, NYCB was hit with its first shareholder lawsuit Wednesday over the
share collapse, alleging that executives misled investors about the state of its real estate
holdings. The sudden decline previously deemed one of last year's winners.
After acquiring the assets of Signature Bank, reignited fears over the state of
medium-sized American banks. Investors have worried that losses on some
of the $2.7 trillion in commercial real estate. Loans held by banks could trigger another round
of turmoil after deposit runs consumed Silicon Valley Bank and Signature last March.