Customers are pulling their cash from NYCB, but it’s no bank run
CNN
Customers of New York Community Bank pulled $6 billion worth of deposits between February 5 and March 5, leaving the bank’s deposit base 7% lower, at $77 billion.
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.
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