Business
Customers are pulling their cash from NYCB, but it’s no bank run
New York (CNN) — Customers of New York Community Bank (NYCB) pulled $6 billion worth of deposits between February 5 and March 5, leaving the bank’s deposit base 7% lower, at $77 billion.
Posted — UpdatedBy Elisabeth Buchwald, CNN
CNN — New York (CNN) — Customers of New York Community Bank (NYCB) pulled $6 billion worth of deposits between February 5 and March 5, leaving the bank’s deposit base 7% lower, at $77 billion.
NYCB provided the updated figures on an investor conference call Thursday morning after it announced it secured a $1 billion investment from former Treasury Secretary Steven Mnuchin’s firm, Liberty Strategic Capital, among other private equity companies.
This is a developing story and will be updated.
The-CNN-Wire™ & © 2024 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
Copyright 2024 by Cable News Network, Inc., a Time Warner Company. All rights reserved.
