How to check the financial status of banks

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chavabatcarmel
Posts: 33
Joined: Sat May 17, 2008 1:25 am

How to check the financial status of banks

Post by chavabatcarmel » Sun Sep 28, 2008 2:11 am

Dear folks,

I live abroad (I am a dual citizen) and have (FDIC insured) CDs at a bunch of banks around the U.S. Where can I find info on the financial
status of those banks? Yes, I know they are insured, but I would
like to know whats going on with them, in light of whats happening.

And for your info, I had an insured CD with Indymac. After
it failed, I received a letter from Vanguard and got all the money
back from FDIC. My loss was 2 weeks of interest.

Chava

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mlebuf
Posts: 1915
Joined: Tue Feb 20, 2007 8:27 pm
Location: Paradise Valley, Arizona

Post by mlebuf » Sun Sep 28, 2008 2:24 am

Hi Chava,

Here's the link you are looking for:
http://www.bankrate.com/brm/safesound/ss_home.asp

Best wishes,
Michael
Best wishes, | Michael | | Invest your time actively and your money passively.

chicagobear
Posts: 550
Joined: Sun Dec 16, 2007 10:12 pm

Post by chicagobear » Sun Sep 28, 2008 6:27 am

Watching the stock price of the banks, if public, gives you a "real time" view on what's going on with their financial condition.

blood_donor
Posts: 119
Joined: Sun May 27, 2007 9:36 pm
Location: Metro Detroit, MI

Re: How to check the financial status of banks

Post by blood_donor » Sun Sep 28, 2008 2:46 pm

Chava,

Israeli? If so, L'Shanah Tovah! (I wish I was visiting there right now)

A good place to look is the stock research, if you have access to it, from a place like Fidelity.com. Analysts who say bad things about your bank may give interesting rationale for it, or they may not. They will tend to try to explain the stock valuation.


chavabatcarmel wrote:Dear folks,

I live abroad (I am a dual citizen) and have (FDIC insured) CDs at a bunch of banks around the U.S. Where can I find info on the financial
status of those banks? Yes, I know they are insured, but I would
like to know whats going on with them, in light of whats happening.

And for your info, I had an insured CD with Indymac. After
it failed, I received a letter from Vanguard and got all the money
back from FDIC. My loss was 2 weeks of interest.

Chava

User avatar
CABob
Posts: 4777
Joined: Sun Feb 25, 2007 8:55 pm
Location: Southern California

Post by CABob » Sun Sep 28, 2008 3:07 pm

This link from FDIC may be of interest -
http://www.fdic.gov/bank/individual/bank/index.html

Bob

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