DBRS Finalizes AAA Rating of New York Community Bank’s FDIC Guaranteed Notes Issuance

DBRS has today finalized the AAA rating of the $512 million of 3% Senior Bank Notes (the Notes) due December 16, 2011, issued by New York Community Bank. The Notes were issued pursuant to an Offering Circular dated December 12, 2008.

The AAA rating is based on the explicit guarantee provided by the Federal Deposit Insurance Corporation (FDIC) Temporary Liquidity Guarantee Program (TLGP), which is backed by the full faith and credit of the United States. Under the TLGP, the FDIC guarantees payment of qualifying debt issued by eligible U.S. bank holding companies and banks, such as New York Community Bank.

The AAA rating reflects DBRS’s opinion as to the guarantor’s ability to honor the guarantee as determined by internal assessment of the sovereign. All other debt ratings, including New York Community Bank’s A (low) Deposits & Senior Debt rating, remain at their current levels. All long-term non-guaranteed ratings have a Stable trend.

Note:
All figures are U.S. dollars unless otherwise noted.

The applicable methodology is Rating Banks and Bank Holding Companies Operating in the United States which can be found on our website under Methodologies.

This is a Corporate (Financial Institutions) rating.