World’s safest banks

Yes, a lot are still safe. Global Finance Mag released its top 50 safest banks and the highest rank a US bank could get was 21st. And guess who it was? Buffett’s investment, Wells Fargo.  Other US banks include US Bancorp, JP Morgan, Bank of NY Mellon and BB&T. German banks ruled the top 10 with 4, while Netherlands and France each had 2. Within the top 20, Spain had 2 and Australia, 4.

Ranking was based on “long-term foreign currency ratings from Fitch Ratings and Standard & Poor’s and long-term bank deposit ratings from Moody’s Investors Service. Where possible, holding companies have been rated rather than subsidiary banks, and government import-export finance institutions have been omitted. Within each rank set, banks are rated according to asset size.” Moody’s ratings equivalent to S&P/Fitch were also given. Click for larger image.



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