(Bloomberg) — Banks exposed to New York City lending were rare decliners in Thursday trading, extending Wednesday’s losses as analysts dug into worries that Democrats eyeing rent control laws set to expire next month pose a risk to loans and deals.
New York Community Bancorp was the only falling stock in the KBW Bank Index in Thursday afternoon trading, sliding as much as 4.5%, to the lowest since January 17. Signature Bank was only decliner on the KBW regional bank index, with a drop of as much as 2.6%, also to the lowest since January 17.
Here’s a sample of what some analysts are saying:
Sandler O’Neill, Mark Fitzgibbon
Proposals floating around in Albany “revolve primarily around the idea that landlords should not be able to raise rents so quickly (particularly for capital improvements), and additional protections should be put in place to make it tougher for landlords to push tenants out of their rent stabilized units,” Fitzgibbon wrote in a note.