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...New York Community Bancorp and its chief risk officer parted ways shortly before the regional US lender reported larger than expected losses from real estate lending that hammered the bank’s stock....
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...products, and directly deposit their money with banks....
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...Chief financial officer Todd Tuckner told analysts on Tuesday that the bank had eliminated 2,000 jobs in the first quarter, meaning the combined bank’s headcount had shrunk by 19,000 since the takeover....
...The so-called community bankers who staff the hubs, in partnership with Post Office postmasters, work on rotation, with a different bank available on each day of the week....
...NYCB had been seen as one of the winners of the 2023 crisis that sank Signature, Silicon Valley Bank and First Republic....
...Shares of New York Community Bank plunged 40 per cent on Wednesday after a report that the bank was seeking to raise money to shore up its finances through a stock sale....
...The Financial Times reported this week that NYCB’s chief risk officer Nicholas Munson left the bank just weeks before it announced unexpected losses for the fourth quarter....
...The first possibility looms larger, though. What might the review of the financials reveal? What unsettling news about credit quality is in store?...
...The number of problem banks in the US has jumped 18 per cent, regulators warned, as New York Community Bank was stabilised by a $1bn capital raise led by former US Treasury secretary Steven Mnuchin....
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...“Further discussions on this topic should involve all of the banking regulators and be informed by discussions with the asset management community.”...
...It is the same reason why farmers often prefer to bank with their local community banks....
...If the guidelines come into force, it will be the first time since the financial crisis that the watchdog has updated its rules governing takeovers....
...New York Community Bank will raise more than $1bn in a deal led by the investment firm of former US Treasury secretary Steven Mnuchin, in an effort to shore up its finances and calm fears after weeks of...
...Reddit’s IPO ostensibly celebrates its community, and yet the amount given to its community in the deal is fairly … average....
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...Charitable foundations were among the first to back out....
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...Share prices have soared this year — and first-quarter results have offered little to dissuade those won over to banks’ appeal....
...“Our ambition is to deploy our standards across the whole industry,” she said, speaking to the Financial Times following the announcement....
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