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Determine YourBank Strength Rating
There’s been a lot of news recently about the financial strength of banking institutions, including the bank strength rating. The mortgage crisis has left a far reaching trail of damage that has affected not only the real estate industry, but the banking industry as well. So how do you know how safe your bank really is?The Federal Deposit Insurance Corporation (FDIC) is a great source of information on the banking industry for consumers. There’s news about failed banks, as well as articles on what you need to know about your bank accounts and whether they’re fully insured in the unlikely event your bank fails. While the majority of banks are weathering the storm in fine shape, it never hurts to be educated on the banking industry, and how to protect your assets. While the FDIC does not release their internal bank strength rating report, there are private companies that do assemble their own ratings based on their own specific criteria. Reports are often offered online, and many offer paper reports as well as reports on CD-ROM. Many of these services are subscription based. The ratings generally cover banks, bank holding companies, savings & loans and savings banks. Institutions are generally assigned some sort of “letter” grade or numerical ranking meant to give an indication of the safety or soundness of the institution. Each company offering bank strength rating reports uses their own proprietary (used only by that specific company) formula and criteria which is then applied to various banking data. This gives the rating result. Generally, the formulas used are based on some sort of variation of CAMELS factors. CAMELS stands for Capital, Asset Quality, Management, Earnings, Liquidity and Sensitivity to market risk.
The following are some private companies offering bank strength rating information;
A.M.
Best Company
Bankrate, Inc.
BauerFinancial, Inc.
FIS - Financial Information Systems, LLC
Institutional Risk Analytics
LACE Financial Corp.
Veribanc
Weiss Ratings Inc.
Contact each company to get detailed information on the products they offer, frequency of publication and cost, the types of institutions rated, their specific rating method, and other products that they offer. Forex Trading ResourcesOpen a free mini or pro Forex trading account and improve your skills using our strategy guides and exclusive currency trading tools. With over a decade of experience, Forex on demand is the comprehensive step-by-step guide to foreign currency trading. Learn to best navigate the world of online currency trading using our educational guides, charts, tools and news. Learn how to beat the worldwide economic crisis at ForexFloor.com.
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