https://gfmag.com/award/award-winners/worlds-safest-banks-2023-global-100/
Is there an internal list of OffshoreCorpTalk's Top Safest Banks?
Is there an internal list of OffshoreCorpTalk's Top Safest Banks?
World’s Safest Banks 2023: Global Top 100
- Thread starter OCT2023
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Depends on how you define safety.
GF Mag focuses a lot on credit rating and financial statements, which are good indicators of the financial well being of a bank. If that's all you factor in when assessing if a bank is safe, GF Mag's ranking is probably pretty solid. But do they account for regulatory risk? Security risk? Currency risk? Product risk? Client risk? Systemic importance of the bank?
Chase Bank and Bank of America is ranked 68th and 69th respectively. If either were to fail, the US government would very likely step in to save it.
Several banks on the GF Mag list are︀ functionally useless as they are development banks or other specialized banks that don't engage in︁ day to day banking. What's the point of their ranking? To show how many banks︂ they found on Wikipedia and dug up the financials of?
GF Mag focuses a lot on credit rating and financial statements, which are good indicators of the financial well being of a bank. If that's all you factor in when assessing if a bank is safe, GF Mag's ranking is probably pretty solid. But do they account for regulatory risk? Security risk? Currency risk? Product risk? Client risk? Systemic importance of the bank?
Chase Bank and Bank of America is ranked 68th and 69th respectively. If either were to fail, the US government would very likely step in to save it.
Several banks on the GF Mag list are︀ functionally useless as they are development banks or other specialized banks that don't engage in︁ day to day banking. What's the point of their ranking? To show how many banks︂ they found on Wikipedia and dug up the financials of?
After looking at the list, I cannot confirm that. The majority of the top positions are all state owned, many of them not even in the retail business. I am pretty confident that those are all safe.
In cold wallets (Trezor etc)
In random EMIs/banks just for the time needed for making payments or buying crypto.
In random EMIs/banks just for the time needed for making payments or buying crypto.
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