Free Trial

NYCB; Isolated, Doesn't Appear Systemic

FINANCIALS

NYC Bancorp (NYCB US) is making some headlines in the US around 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 anything systemic, simply an individual point of failure in a small US regional. European banks have very little exposure left to US retail, especially since HSBC and Santander have exited a range of assets in this field.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.