Embattled lender New York Community Bank disclosed a litany of financial metrics in the past 24 hours in a bid to soothe skittish investors.Investors have worried that losses on some of the $2.7 trillion in commercial real estate loans held by banks could trigger another round of turmoil after deposit runs consumed Silicon Valley Bank and Signature last March.Traders work on the floor at the New York Stock Exchange in New York City, U.S., February 7, 2024.
Shares of Valley National, another lender with a larger weighting to commercial real estate, have declined about 22% in the past week, for instance. Office buildings are at greater risk of default because of lower occupancy rates with the rise in remote and hybrid work models, and changes in New York's rent stabilization laws have made some multifamily dwellings