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What are the safest banks to have money in right now?
Posted on 3/12/23 at 10:20 am
Posted on 3/12/23 at 10:20 am
My savings is with Capital One and my checking is with Chase. Honestly never heard of SVB before all of this but I’m sure the fear is real and will explode over the next few months and will likely spread to other banks. Chase and Capital One are pretty freaking big and should be safe, right?
8
Posted on 3/12/23 at 10:22 am to TDsngumbo
“I want to say two words to you - treasury bills.”
Posted on 3/12/23 at 10:31 am to KillTheGophers
My understanding of this situation is limited at best so I’m not sure how all this works.
Posted on 3/12/23 at 10:31 am to KillTheGophers
quote:
treasury bills.”
That's what got svb in trouble
Posted on 3/12/23 at 10:40 am to TDsngumbo
Do you have more than 250k in one bank? I wouldn't worry too much about the major banks. They are still too big to allow to fail.
Posted on 3/12/23 at 10:43 am to fallguy_1978
LINK
where's the "too big to fail" cutoff?
quote:
Rank Tier 1 (core) Risk-Based Capital Bank Name
1 $264,470,000,000 JPMorgan Chase Bank
2 $185,255,000,000 Bank of America
3 $150,062,000,000 Citibank
4 $137,609,000,000 Wells Fargo Bank
5 $46,238,663,000 U.S. Bank
6 $45,578,000,000 Goldman Sachs Bank USA
7 $42,592,429,000 PNC Bank
8 $40,818,000,000 Truist Bank
9 $36,919,759,000 TD Bank
10 $30,468,000,000 Charles Schwab Bank, SSB
11 $28,242,454,000 Capital One
12 $20,986,163,000 Capital One Bank (USA)
13 $20,457,737,000 Citizens Bank
14 $19,834,290,000 HSBC Bank USA
15 $19,385,000,000 The Bank of New York Mellon
16 $18,758,000,000 Morgan Stanley Bank
17 $18,687,000,000 State Street Bank and Trust Company
18 $18,125,994,000 Fifth Third Bank
19 $17,302,000,000 Ally Bank
20 $17,218,857,000 First Republic Bank
21 $16,957,000,000 Silicon Valley Bank
where's the "too big to fail" cutoff?
Posted on 3/12/23 at 10:43 am to TDsngumbo
People have no reason to start panicking about this.
HOWEVER, people are going to do just that and start going for their money. Chain reaction.
It needs to happen to finally make us face our terrible monetary policy for the past almost 20 years.
HOWEVER, people are going to do just that and start going for their money. Chain reaction.
It needs to happen to finally make us face our terrible monetary policy for the past almost 20 years.
Posted on 3/12/23 at 10:51 am to GEAUXT
Last one out’s a rotten egg
Posted on 3/12/23 at 11:19 am to TDsngumbo
quote:
Chase and Capital One are pretty freaking big and should be safe, right?
Chase has ridiculously deep pockets and gives only the amount of nod to ESG that it needs to keep the pink-hairs from protesting outside their doors (Dimon, the CEO, has gone on record being against it). No idea on Capitol One.
I don't think SVB has enough Main Street reach to cause a run on hometown banks nor massive ones like Chase or Capitol one, but the news media is going to brow-beat this because it's scary and dramatic. Broadcasting this fear-mongering is likely to cause more problems beyond SVB's reach than SVB itself.
Posted on 3/12/23 at 11:42 am to thelawnwranglers
quote:
That's what got svb in troubl
MBS’s
Posted on 3/12/23 at 11:47 am to TDsngumbo
Any bank that is insured by the federal government which all of the major banks are.
Posted on 3/12/23 at 12:09 pm to TDsngumbo
quote:
but I’m sure the fear is real and will explode over the next few months and will likely spread to other banks.
quote:
My understanding of this situation is limited at best so I’m not sure how all this works.
Well which is it? Are you sure or are you not sure?
Posted on 3/12/23 at 12:26 pm to FinleyStreet
quote:
Well which is it? Are you sure or are you not sure?
It's going to happen, there will be those who rush to pull some/most/all of their cash out of the banks because of the fear-mongering the media is engaging in.
How much of it depends on how many are susceptible to the fear-mongering and no one knows what that's actually going to look like.
If many ignore it because they don't bank with SVB, it could be a nothingburger. If people bite on it like they did with COVID vaccines, we could have some serious problems.
To me, I really think it's going to boil down to how the major news networks carry it. If we see the evening broadcasts and morning headlines over the next week starting off with rhetoric along the lines of "the banking system meltdown continues", that will be likely to cause a massive run. If it's later in the broadcast and portrayed more as an SVB-only issue then we're not likely to see widespread problems.
Posted on 3/12/23 at 1:25 pm to Ross
quote:
where's the "too big to fail" cutoff?
Do you think the government would allow Bank of America to fail and take them over? I don't necessarily agree that they should be saved but I think they would be.
The optics alone on something like that would be far greater than this and they'd be saved to avoid public panic.
This post was edited on 3/12/23 at 1:32 pm
Posted on 3/12/23 at 2:11 pm to Ross
quote:
$264,470,000,000 JPMorgan Chase Bank
2 $185,255,000,000 Bank of America
3 $150,062,000,000 Citibank
4 $137,609,000,000 Wells Fargo Bank
5 $46,238,663,000 U.S. Bank
6 $45,578,000,000 Goldman Sachs Bank USA
I think it's safe to say Goldman would never be allowed to fail. That would pretty much destabilize the world economy. List of too big is potentially longer but can't be shorter.
Posted on 3/12/23 at 3:14 pm to TDsngumbo
The one you're on the board of.
Posted on 3/12/23 at 3:55 pm to thelawnwranglers
That's what got svb in trouble
No it wasn’t. T bills are one year or less maturities. SVB had a 6.8 duration on its portfolio meaning a likely average maturity of 9 -10 years! Those longer maturities got killed as rates went up.
No it wasn’t. T bills are one year or less maturities. SVB had a 6.8 duration on its portfolio meaning a likely average maturity of 9 -10 years! Those longer maturities got killed as rates went up.
Posted on 3/12/23 at 4:15 pm to catfish 62
quote:
MBS’s
I was talking out my arse
Posted on 3/12/23 at 4:16 pm to 1609tiger
quote:
No it wasn’t. T bills are one year or less maturities. SVB had a 6.8 duration on its portfolio meaning a likely average maturity of 9 -10 years! Those longer maturities got killed as rates went up.
I was talking out my arse lol
Posted on 3/12/23 at 4:19 pm to Ross
quote:
1 $264,470,000,000 JPMorgan Chase Bank
2 $185,255,000,000 Bank of America
3 $150,062,000,000 Citibank
4 $137,609,000,000 Wells Fargo Bank
5 $46,238,663,000 U.S. Bank
6 $45,578,000,000 Goldman Sachs Bank USA
7 $42,592,429,000 PNC Bank
Lets make sure these 7 survive. I own Chase and PNC stock.
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