It's time to name names. There are currently 20 very large institutions (with $25 billion or more in assets) in our vulnerable or "weakest" category, including Bank of America, Citibank, Wachovia, HSBC Bank USA, SunTrust, Regions Bank, RBS Citizens, plus the 13 others listed in the table below.
Unfortunately, there are many more which are also vulnerable — a total of 2,262 U.S. banks and thrifts in the U.S. that currently receive a Weiss Rating of D+ or lower. And, fortunately, there are still many strong banks in America — 962 institutions receiving a Weiss Rating of B+ or higher. Despite the strong banks, the banking system as a whole remains very weak. This is because the weakest banks hold $5.8 trillion, or 44.7 percent of the industry's total assets. But the strongest banks hold only $483 billion, or a meager 3.7 percent of the industry's assets. Is your bank safe? Where can you find a strong bank near you? The big dilemma in America today is that, while many of the largest banks are still weak, most of the strongest banks are relatively small with fewer branches. That makes it more likely that your bank is among the vulnerable institutions. Plus, it can make it more difficult for you to find a bank worthy of your money. Even if a bank is bailed out or taken over by the FDIC, you can
Worse, if you've invested in the bank's stocks, bonds, or debentures ... or if you have uninsured deposits not covered by the FDIC ... you could suffer substantial losses in afailed bank. So whether you believe the government can adequately protect your savings — or not — I recommend that you seriously consider avoiding the weakest while seeking to do business only with the strongest. Safe Harbor Statement: Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints. Nothing in this article is, or should be construed as, investment advice. |
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