Original Source: The Economist
FOR 134 years New York Community Bancorp was a neighbourhood depository in the borough of Queens. In the 1990s, however, it began a caffeinated expansion, completing ten mergers in short order and extending its franchise to several surrounding states. This strategy, although common enough, has brought it sudden attention: with $48 billion in assets as of March 31st, it is the first bank since the financial crisis to approach the $50 billion threshold at which the Federal Reserve can declare it a “systemically important financial institution”…
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