Yahoo Finance
•75% Informative
New York Community Bancorp's biggest loan exposure is to apartments.
Roughly half of that portfolio is tied to scores of multifamily complexes where annual rent increases are regulated by the government.
These properties could end up being worth a lot less than they used to be because of high interest rates and new limits on rent increases.
Interest past-due for non-owner-occupied commercial real estate loans rose in the fourth quarter to its highest level since 2013 .
This isn’t a crisis across the country, according to Apollo chief economist Torsten Slok .
Janet Yellen told Senate lawmakers Thursday that "there may be smaller banks that are stressed by these developments" But "it’s nothing like what we saw in 2008 ," she added.
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