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BREAKING: Moody’s Downgrades New York Community Bancorp (NYCB) To Junk Status
From WLT Report
Article By Noah, Original Publish Date: February 7, 2024
Heads up folks….
We first brought you this story last week and I told you that wasn’t the end, just the tip of the spear of the beginning.
And I’m continuing to sound the alarm because I don’t want anyone to be caught off guard.
Moody’s Investors Service just downgraded the credit of New York Community Bancorp to “junk status”.
We first brought you news of this crash last week:
https://wltreport.com/2024/01/31/bank-crash-2-0-incoming-another-bank-verge/
And for anyone who thought they might recover or turn things around, that hasn't happened yet.
In fact, this is what their chart looks like (down 57%):
Now the latest....
Downgrade to "Junk" by Moodys:
[twitter-code url="https://twitter.com/GRDecter/status/1755239954441998377"]
Good Morning Everyone! Moody’s downgrades New York Community Bankcorp (NYCB) to junk status.
NYCB is the parent company of Flagstar Bank, one of the largest regional banks in the country.
NYCB stock is down 60% since they announced plans to cut the dividend and stockpile reserves for troubled commercial real estate loans.
Jerome Powell said yesterday commercial real estate is “a sizeable problem”.
About 14% commercial real estate loans and 44% of office building loans are in NEGATIVE EQUITY - meaning the debt is now greater than the property value.
Banks could lose $160 billion from commercial real estate, which makes up about ¼ of the average lender's assets.
Grok confirms:
But it's not just NYCB....
It's actually widespread and more "shoes to drop" soon.
Check this out:
[twitter-code url="https://twitter.com/KobeissiLetter/status/1754982688451080581"]
US Regional Bank Stocks 1 Month Into 2024:
1. NY Community Bank, $NYCB: -60%
2. Valley National Bank, $VLY: -25%
3. Metropolitan Bank, $MCB: -15%
4. HarborOne, $HONE: -14%
5. Comerica Bank, $CMA: -13%
6. Zions Bank, $ZION: -12%
7. Western Alliance, $WAL: -11%
8. Citizens Financial, $CFG: -6%
9. KeyCorp, $KEY: -5%
Regional bank worries resurfaced as New York Community bank, which acquired the collapsed Signature Bank, cut their dividend by 70%.
These are the same banks that hold nearly 70% of commercial real estate loans.
Just 10 months ago, the regional bank crisis "ended."
Oh my....these 9 hold 70% of all commercial real estate loans.
Folks, the 2008 crash was caused by single family home loans.
This next crash will be caused by commercial loans, and spoiler alert: they're a lot bigger!
Even the Federal Reserve is now telling you what I've been telling you for MONTHS now:
https://wltreport.com/2024/02/07/federal-reserve-warns-more-banks-will-fail-do/
It's always fun bringing you the TRUTH months in advance of the "Elites" finally telling you.
That's why 5+ million people trust us each month (and growing)!
Read full article here.
WLT REPORT
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