NYCB turns to repos, discount window in cash-hoarding push

Bank had previously supplemented funding needs almost exclusively with FHLB advances

New York Community Bank (NYCB) has resorted to repurchase agreements and US Federal Reserve facilities to bolster liquidity, following a significant decline in deposits in the wake of its credit-rating downgrade.

The Long Island-based lender tapped $2 billion of repos during the first quarter, sourced both through brokers and the Federal Home Loan Bank (FHLB) system. These repos were collateralised primarily by agency-backed securities.

!function(e,n,i,s){var d="InfogramEmbeds";var o=e

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here