Commercial Real Estate Risks Concern New York’s Banking Watchdog

New York state’s top financial official says that she remains concerned about banks’ exposure to commercial real estate and unrealized losses caused by rising interest rates.

Adrienne Harris, the director of the state’s Department of Financial Services, said that regulators need to address the issues and learn from the collapse of multiple midsize lenders earlier this year. She added that NYDFS is continuing to review its processes following the failure of Signature Bank in March.

WATCH: Adrienne Harris, NY State DFS Superintendent discusses the US banking system and banking regulations.

Source: Bloomberg

The collapse of Signature, which was regulated by NYDFS, thrust Harris and her approach to financial regulation into the national spotlight. In ...