Fed’s Barr says banking system is strong despite New York Community Bancorp’s woes


The recent troubles at New York Community Bancorp Inc. are not a sign of systemic problems in the U.S. banking system, a top Federal Reserve official said Wednesday.

“A single bank missing its revenue expectations and increasing its provisioning does not change the fact that the overall banking system is strong, and we see no signs of liquidity problems across the system,” said Fed Vice Chair for Supervision Michael Barr, in a speech to a meeting of the National Association of Business Economics in Washington.


Master your money.

Subscribe to MarketWatch.

Get this article and all of MarketWatch.

Access from any device. Anywhere. Anytime.

Subscribe Now

Log In

Las Vegas News Magazine

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More