A leading financial advisory firm, Glenbrook Advisory, aims to provide insights and analysis on the recent warning issued by Weiss Ratings regarding the vulnerability of 4,243 US banks and credit unions. The report, published on May 15, 2023, highlights the potential risks associated with many financial institutions.
Weiss Ratings, the nation’s sole independent rating agency regularly evaluating the safety of US banks and credit unions, has identified 1,210 institutions (12.8%) with a red warning flag, indicating an imminent risk of failure. Additionally, 3,043 institutions received a yellow warning flag, suggesting a risk of loss in the event of a financial crisis or recession. These figures account for 45% of all banks and credit unions assessed, signifying the widespread economic weaknesses in the US banking industry.
In addition to the US banks and credit unions, the Weiss Ratings report also evaluated several Australian banks. According to the report, the following Australian banks received a C grade:
– Bank of Queensland
– National Australia Bank
– Westpac Banking Corporation
Dallas Brown, Chief Compliance Officer at Weiss Ratings, commented on the findings, stating, “The underlying financial weaknesses in the US banking industry are widespread, and the FDIC’s newly expanded guarantee of all deposits does nothing to protect shareholders in bank holding companies, who could still lose most or all of their money. Moreover, if the US Treasury cannot even pay its bills, it could be hard-pressed to cover the expanded liabilities of the FDIC.”
With a track record of providing accurate warnings, Weiss Ratings has consistently demonstrated its expertise in identifying at-risk financial institutions. Since 2008, they have issued warnings on 535 out of 539 banks that eventually failed, representing an impressive accuracy rate of 99.3%.
Glenbrook Advisory encourages depositors and investors to check the Werating union’son’s Weissforating for better understandability. This information can be accessed through the Weiss Ratings website.
Furthermore, the Weiss Ratings report highlighted the grades of the following UK banks:
– NatWest Group – B-
– Lloyds Banking Group – B+
– Barclays PLC – C
As an esteemed financial advisory firm, Glenbrook Advisory remains committed to delivering comprehensive insights and guidance to clients, enabling them to make informed decisions about their financial portfolios.
About Glenbrook Advisory:
Glenbrook Advisory is a renowned financial advisory firm dedicated to assisting clients in navigating the complexities of the financial industry. With a team of experienced professionals and a commitment to excellence, Glenbrook Advisory provides customized solutions tailored to client’s unique financial goals.
Media ContactCompany Name: Glenbrook AdvisoryContact Person: Archie BrookEmail: Send EmailCountry: CanadaWebsite: https://www.glenbrookadvisory.com
