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NYCB's latest woes spell out trouble for US banking sector

#nycb #banking #yahoofinance It's been another tumultuous week for New York Community Bancorp (NYCB): after reporting it raised $1 billion in capital from private investors — including former Secretary of the Treasury Steve Mnuchin's firm Liberty Strategic Capital — the regional bank disclosed it lost $7.8 billion, or 7%, of deposits over the past month. Arch Indices Co-Founder and CEO Yang Tang joins Yahoo Finance in-studio what NYCB's latest developments could mean for the greater US banking industry and the commercial real estate market. "I actually think [NYCB's situation] is worse — the incremental cost of funding right now is extremely high. They were asked on the call today 'what is the marginal cost of deposits?', [they] avoided the question," Tang says. "The Fed funds rate is 5.5%. So if you go to the federal home loan bank and you get a loan, you're going to be looking at 6%. The average yield on the loan right now is 5.72%. So every dollar they have to replace is negative it on the net interest margin." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan. About Yahoo Finance: 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:   / yahoofinance   Instagram: https://www.instagram.com/yahoofinanc... TikTok: https://www.tiktok.com/@yahoofinance?... Facebook:   / yahoofinance   LinkedIn:   / yahoo-finance