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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 |