“Shaky commercial loans threaten a new regional bank crisis”

“Almost a year after the failure of three midsized U.S. banks sparked an industry crisis, investors and regulators are once again bracing for turmoil among regional lenders, this time due to rising defaults in commercial mortgages.

The tipping point may be a Long Island lender, New York Community Bank, that reported major losses on its real-estate loans last week. NYCB’s share price has dropped 60%, dragging stocks of other regional banks down with it in an uneasy echo of last spring, when the government was forced to throw emergency lifelines to keep the system from toppling…”

https://www.semafor.com/article/02/08/2024/new-york-community-banks-troubles-threaten-a-new-crisis