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| Name | Commercial real estate is a problem and many regional banks have a heavy exposure: Former FDIC Chair |
| Video Uploader | Video From Yahoo Finance |
| Upload Date | This Video Uploaded At 08-02-2024 18:14:37 |
| Video Discription | New York Community Bancorp's (NYCB) string of bad luck continues as its stock moves lower after reporting troubling earnings results and suffering a credit downgrade by Moody's. Nearly a year after 2023's regional banking crisis, what is NYCB signaling for the financial sector and commercial real estate? Former Chair of the FDIC Sheila Bair highlights what another round of regional banking turmoil could look like and what the Biden administration and regulators should be watching closely. "We saw... runs on uninsured deposits after we had the three failures last spring, even with the so-called systemic risk determination and the government saying they were going to protect uninsured, you still saw a run," Bair, who is also a senior fellow at the Center for Financial Stability and former Assistant Secretary for Financial Institutions of the US Treasury Department, tells Yahoo Finance. "So that instability... is still there, there's less reliance now among these mid-sized banks on uninsured. It's still significant, but I don't for the life of me understand why the Biden administration has not asked Congress to reinstate the FDIC's authority to provide temporary emergency expanded deposit guarantees." About Yahoo Finance: #youtube #stockmarket #yahoofinance Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/YahooFinance Instagram: https://www.instagram.com/yahoofinance/?hl=en TikTok: https://www.tiktok.com/@yahoofinance?lang=en Facebook: https://www.facebook.com/yahoofinance/ LinkedIn: https://www.linkedin.com/company/yahoo-finance [ziEv6eqc65A] |
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