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Show Notes
If you're looking for a guide on collateral and how to spot shortfalls in it, get your copy of EDU's report on collateral shortages here:
https://funnel.eurodollar.university/collateral
This isn't about a relatively small New York community bank no one had heard of until yesterday. The markets reactions to it were far more important than the details of that bank's announcement. There is not a whole lot of faith in banking, and it may be the ball is rolling once again on that front.
Eurodollar University's Money & Macro Analysis
NYCB Acquires Signature Assets
https://ir.mynycb.com/news-and-events/news-releases/press-release-details/2023/NEW-YORK-COMMUNITY-BANCORP-INC.-THROUGH-ITS-BANK-SUBSIDIARY-FLAGSTAR-BANK-N.A.-ACQUIRES-CERTAIN-ASSETS-AND-ASSUMES-CERTAIN-LIABILITIES-OF-SIGNATURE-BRIDGE-BANK-FROM-THE-FDIC/default.aspx
NYCB reports results for 2023
https://ir.mynycb.com/news-and-events/news-releases/press-release-details/2024/NEW-YORK-COMMUNITY-BANCORP-INC.-REPORTS-RECORD-RESULTS-FOR-2023/default.aspx
Bloomberg Markets NY Community Bancorp Plunges as Real Estate Risks Jolt Market
https://www.bloomberg.com/news/articles/2024-01-31/new-york-community-bancorp-slumps-on-surprise-loss-dividend-cut?fromMostRead=true
FOMC Statement January 2024
https://www.federalreserve.gov/monetarypolicy/files/monetary20240131a1.pdf
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU