NYCB Stock Freefall Triggers Concerns over Deposit Contracts and Ratings Downgrade – Latest Updates
The downgrade could trigger contractual obligations from business clients of NYCB who require the bank to maintain an investment grade deposit rating, according to analysts who track the company. (Consumer deposits at FDIC-insured banks are covered up to $250,000.) NYCB finds itself in a stock freefall that began a month ago when it reported a … Read more
