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Stock impact report

Moody's puts six U.S. regional banks on downgrade review over commercial real estate exposure [CNBC]

New York Community Bancorp, Inc. (NYCB) 
Last new york community bancorp, inc. earnings: 4/29 07:00 am Check Earnings Report
US:NYSE Investor Relations: ir.mynycb.com
Company Research Source: CNBC
The long-term ratings of First Merchants Corp F.N.B. Corp Fulton Financial Corp , Old National Bancorp Peapack-Gladstone Financial Corp and WaFd were placed on review. These banks have substantial concentration in CRE loans, which are facing asset quality and profitability pressures with higher-for-longer interest rates raising longstanding risks, especially during cycle downturns, Moody's said in separate statements. During the low-interest-rate environment prior to the onset of the Federal Reserve's rate-hike cycle, many regional banks chose to build and maintain substantial concentrations in CRE, which is a volatile asset class, Moody's said. Regional banks with exposure to the beleaguered commercial real estate sector have come under investor scrutiny after New York Community Bancorp's recent turmoil. Non-performing CRE loans as a percentage of U.S. banks' portfolios doubled to 0.81% by the end of 2023 from a year earlier, the International Monetary Fund said in its semi- Show less Read more
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