New York Community Bancorp's Stock Rebounds 6% After Volatile Trading Day
  • 3 months ago
Regional lender New York Community Bancorp saw its stock rise over 6% after falling as much as 14% earlier in the day. The bank's new executive chairman, Alessandro DiNello, reassured investors that deposits have seen virtually no outflows and are up year-over-year. NYCB also said it has strong liquidity, with $37.3 billion exceeding uninsured deposits, though Moody's downgraded the bank's credit rating to junk. Some analysts remain cautious due to headwinds like commercial real estate loan exposure and difficulty raising long-term debt.
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