When banks get into trouble, it often comes as a shock. Then the problems seem obvious in hindsight — if only managers and supervisors had been paying attention. The recent turmoil at New York Community Bancorp Inc. is a case in point.

Since a sudden writedown of two commercial real estate loans in January, NYCB has suffered a quarterly loss, 71% dividend cut, two-thirds decline in its stock price and credit downgrade, along with shareholder lawsuits, management upheaval and the disclosure of “material weakness” found in an internal loan review.

QOSHE - NYCB Woes Offer Lessons Beyond Real Estate - The Editorial Board
menu_open
Columnists Actual . Favourites . Archive
We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

NYCB Woes Offer Lessons Beyond Real Estate

27 0
04.03.2024

When banks get into trouble, it often comes as a shock. Then the problems seem obvious in hindsight — if only managers and supervisors had been........

© Bloomberg

Get it on Google Play