EMBATTLED regional lender New York Community Bancorp (NYCB) said on Tuesday (May 14) it has agreed to sell about US$5 billion in mortgage warehouse loans to JPMorgan Chase.

The deal bolsters NYCB’s liquidity and capital as it executes a crucial turnaround to return to profitability over the next two years.

NYCB expects the transaction will add 65 basis points to its CET1 capital ratio and bolster its liquidity profile as the proceeds of the sale will be reinvested into cash and securities, it said.

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