US Banking Sector Volatility — Distressed Commercial Real Estate Sector Raises Default Concerns
Following the U.S. central bank’s decision to keep the federal funds rate unchanged, the turbulence in the commercial real estate market has sent shockwaves through the country’s banking sector and internationally as well. On Thursday, New York Community Bancorp witnessed a further 13% decline, while Japan’s Aozora Bank plunged to its lowest point in eight…