"NYCB Faces Flight Risk as Moody's Downgrades Ratings Again"

Moody's Investors Service downgraded New York Community Bank's deposit rating by four notches, putting it three levels below investment grade, potentially triggering contractual obligations and raising concerns about a flight of deposits. The bank's stock has plummeted 72% this year, and its ability to retain deposits is under scrutiny, with potential impacts on its "Banking as a Service" business and mortgage escrow unit. Analysts warn of increased costs and potential funding challenges for the bank as it grapples with the aftermath of the ratings downgrade.