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Can I Track The Strength Of Banks With My Money?

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Oct 1, 2008 3:55 pm US/Pacific

Can I Track The Strength Of Banks With My Money?

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QUESTION: How can I track the strength of financial institutions where I keep my money?

ANSWER: Neither, the FDIC nor the Office of Thrift Supervision publishes the banks on their watch list. Therefore, if your bank is publicly traded I would use the stock price as a very good indicator of how the market feels regarding the solvency of the institution. Furthermore, I would simply make sure all your bank accounts are FDIC insured, which if the case, your accounts are backed by the "Full Faith and Credit of the US Government".
____________________ Money Matters is provided by:

David Schauer, CFA, MSFA, CFP®
Financial Planner
Hanson McClain
E-mail questions to moneymatters@kovr.com