To be fair, the decision to cut its dividend was unavoidable. Because the merger would put New York Community Bancorp above the $50 billion threshold in terms of the assets on its balance sheet, the bank would become a systemically important financial institution. As such, it would be subject to a host of heightened regulatory standards, including the Federal Reserve's caps on dividend payouts, which kick in at between 30% to 40% of a bank's earnings. This made New York Community Bancorp's approximately 90% payout ratio unsustainable.