In List of World's Safest Banks, Scroll Way Down...
...to find the first "safe" American bank.
Global Finance ranks the world's banks for safety. It's been a difficult year:
The sovereign debt crisis is still raging in Europe, the Arab Spring outcome is far from clear and global elections have put political stability at risk in some markets. As a result, the credit ratings of European and global banks have been affected, and have moved down the ranking of the World’s Safest Banks. In contrast, a number of banks—particularly in Asia and the Middle East—have benefitted by moving up the ranking.
So where do American banks appear on the list? Keep scrolling.
The first American bank appears in slot #25.
Global Finance uses some pretty standard measures to compile their list:
The ranking was created through an evaluation of long-term credit ratings—from Moody’s, Standard & Poor’s and Fitch Ratings—and total assets of the 500 largest banks worldwide. Global Finance’s ranking of the World’s 50 Safest Banks is a recognized and trusted standard of creditworthiness for the entire financial world. “Counterparty creditworthiness has seldom been of more concern to companies and investors worldwide,” says Global Finance publisher Joseph D. Giarraputo. “Knowing how their counterparties are faring in the face of global economic uncertainty is key. This ranking helps companies and investors to get a view on the relative strength of their counterparties—and global financial institutions."
The highest rated American bank is BNY Mellon. Am I wrong to be troubled by this?
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Mar '11
Re: In List of World's Safest Banks, Scroll Way Down...
The chronically optimistic and delusional Moody’s, Standard & Poor’s and Fitch were the sources? If anything this listing no doubt grossly overstates the safety of American banks. If Global Finance wished to be taken seriously in this climate Egan-Jones would have served them better.
Mar '11
Re: In List of World's Safest Banks, Scroll Way Down...
Hey, we're three slots ahead of the safest Chinese bank!
Safest. Chinese. Bank.
We are so screwed.
Mar '11
Re: In List of World's Safest Banks, Scroll Way Down...
Any ranking should take account of political contributions.
Mar '11
Re: In List of World's Safest Banks, Scroll Way Down...
Yes, because our money is guaranteed by FDIC - that is, the Federal Government. Oh, wait...
Dec '10
Re: In List of World's Safest Banks, Scroll Way Down...
Percival: Hey, we're three slots ahead of the safest Chinese bank!
Safest. Chinese. Bank.
We are so screwed. · 4 minutes ago
Looks like the market share of financial deposits held by Simmons and Sealy could be on the rise?
Dec '11
Re: In List of World's Safest Banks, Scroll Way Down...
Your two post are connected.
College graduates can't pay back their loans.
Therefore
Banks are in trouble.
I would be willing to bet that any country that has 2o per cent of their BA defaulting on school loans their banks are also in trouble. Bankers used to be make conservative investments now they make non-finance conserving loans.
Basically the government and the banks are telling us.
Don't worry that my check bounce, I'll write you another one.
Edited on March 9, 2012 at 1:59amNov '11
Re: In List of World's Safest Banks, Scroll Way Down...
I think, of course, the solution is more regulations and government action. We've been ruined by unfettered capitalism.
Jul '11
Re: In List of World's Safest Banks, Scroll Way Down...
Wow, I am shocked to hear our financial system is in jeopardy. The moment the president and the fed chair go on TV and tell us everything is fine and not to panic we have weeks at most before full collapse.
Jun '10
Re: In List of World's Safest Banks, Scroll Way Down...
Crony capitalism-big banks/big government...bad business.
Feb '11
Re: In List of World's Safest Banks, Scroll Way Down...
Ya think "BNY-Mellon, the safest bank in America" works as a marketing slogan?
May '10
Re: In List of World's Safest Banks, Scroll Way Down...
Whenever you see a ranked list, you should always ask what the separation is between the members of the list. If #1 is twice as safe as #25, we should be concerned. If #1 is 0.1% more safe than #25, the rankings become misleading and we shouldn't read too much into it.
Unfortunately you can't really determine what's going on from the article.
May '11
Re: In List of World's Safest Banks, Scroll Way Down...
Well I'm a Canadian, and I notice the bank that I used in Canada, that my daughter now uses and my parents as well is #10. I live in Japan, the top Japanese bank is a smaller regional bank at #46, the bank I use is #49 Bank of Tokyo-Mitsubishi UFJ (they should lose point just on the long name alone!). Japanese banks used to be very well thought of, not anymore. It is surely interesting that most of the well known Canadian banks made the top 50 of the world, when you consider how few Canadians there are, I think about 34,000,000. I live in the Greater Tokyo area, which has about the same number of people at 33,750,000 and our banks here in Japan are so poorly rated?
The result of this to me is that Canada must be doing something right, and what can the US learn from Canada's example?
May '11
Re: In List of World's Safest Banks, Scroll Way Down...
No, we are being ruined by "Unfettered CRONY Capitalism" there is a distinct difference.
Tarp should have never happened, GM should have gone through bankruptcy, they did not, that is NOT "Capitalism".
Mar '11
Re: In List of World's Safest Banks, Scroll Way Down...
Stu In Tokyo
No, we are being ruined by "Unfettered CRONY Capitalism" there is a distinct difference.
Tarp should have never happened, GM should have gone through bankruptcy, they did not, that is NOT "Capitalism". · 24 minutes ago
Hah too much time in 日本 has ruined your ear for American sarcasm Stu. Other than that though, you are entirely correct.
May '11
Re: In List of World's Safest Banks, Scroll Way Down...
Roberto
Stu In Tokyo
No, we are being ruined by "Unfettered CRONY Capitalism" there is a distinct difference.
Tarp should have never happened, GM should have gone through bankruptcy, they did not, that is NOT "Capitalism". · 24 minutes ago
Hah too much time in 日本 has ruined your ear for American sarcasm Stu. Other than that though, you are entirely correct. · 1 hour ago
I did not mean to miss it, maybe we need a "Sarcasm" font!!
Domo!
May '11
Re: In List of World's Safest Banks, Scroll Way Down...
Mark Wilson: Whenever you see a ranked list, you should always ask what the separation is between the members of the list. If #1 is twice as safe as #25, we should be concerned. If #1 is 0.1% more safe than #25, the rankings become misleading and we shouldn't read too much into it.
Unfortunately you can't really determine what's going on from the article. · 2 hours ago
This is a very good point Mark!
Mar '11
Re: In List of World's Safest Banks, Scroll Way Down...
Double post
Edited on March 9, 2012 at 2:43pmMar '11
Re: In List of World's Safest Banks, Scroll Way Down...
Stu In Tokyo
Mark Wilson: Whenever you see a ranked list, you should always ask what the separation is between the members of the list. If #1 is twice as safe as #25, we should be concerned. If #1 is 0.1% more safe than #25, the rankings become misleading and we shouldn't read too much into it.
Unfortunately you can't really determine what's going on from the article. · 2 hours ago
This is a very good point Mark! · 7 hours ago
The scores are between 30 (1st thru 5th) and 19 (49th & 50th). If two banks have the same score then the bank with the larger deposits is put ahead. That is unless two banks are with-in 5 billion in deposits of each other then it is considered a tie. See link for 2011 scores. Only the top 9 had a score above 24.
Edited on March 9, 2012 at 2:58pmAug '10
Re: In List of World's Safest Banks, Scroll Way Down...
If the global finance industry melts down, will it matter who ranks where?
Edited on March 9, 2012 at 5:20pmNov '11
Re: In List of World's Safest Banks, Scroll Way Down...
Stu In Tokyo
I did not mean to miss it, maybe we need a "Sarcasm" font!!
Perhaps it was far too dry. I figured since I was posting on Ricochet it would be recognized as sarcasm.