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NYC Bancorp Headlines Generating Interest, Not Seen As A Major Systemic Worry

US

NYC Bancorp is making some headlines in the US re: credit quality, but this appears highly idiosyncratic.

  • The major spike in 4Q23 credit charges pertain to two corporate situations only alongside more stringent rules now NYCB has crossed the USD100bn asset threshold (since buying two businesses in 2023).
  • This does not appear systemic, simply an individual point of failure in a small US bank. European banks have very little exposure left to US retail, especially since HSBC and Santander have exited a range of assets in this field.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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