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Which banks are safe?

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17th Dec 2009 by Gary

The answer to this question depends upon whether you're talking about investment or deposits, and the size of the banks. For the largest U.S. banks, your deposits are guaranteed, as are most Canadian banks. So safety from that point of view is included at all banks covered with the respective insurance funds of their countries. As far as investments go, there isn't a bank that would be risky to invest in at this time, although their being out of favor and in some cases with low stock prices, gives them a lot of potential upside. For the larger U.S. banks, it's easier to say which one is the least safe, and that is easily Citibank, which has so many problems it recently had the Treasury Department stop the paying back of TARP funds because the share price was so low they would have taken a loss. The truth is we really won't know the extent of the weakness of many banks in the U.S. until after 2010, when ALT-A loans and commercial loans are expected to default in big numbers.

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25th Oct 2009 In Banking 1 Answers | 435 Views
Subjects: banks, banks in trouble, safe banks,

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