Where does Truist Bank rank in the US?
According to the report, if half of the uninsured depositors quickly withdrew their funds from these 186 banks, even insured depositors may face impairments as the banks would not have enough assets to make all depositors whole. This could potentially force the Federal Deposit Insurance Corporation (FDIC) to step in.
| Bank | Forbes Advisor Rating | Learn More |
|---|---|---|
| Chase Bank | 5.0 | Learn More Read Our Full Review |
| Bank of America | 4.2 | |
| Wells Fargo Bank | 4.0 | Learn More Read Our Full Review |
| CitiĀ® | 4.0 |
According to the report, if half of the uninsured depositors quickly withdrew their funds from these 186 banks, even insured depositors may face impairments as the banks would not have enough assets to make all depositors whole. This could potentially force the Federal Deposit Insurance Corporation (FDIC) to step in.
| Rating | S&P | Moody's |
|---|---|---|
| Issuer | A / A-1 | A21 |
| Deposits | no rating | Aa31 / P-11 |
| Senior unsecured | A | A21 |
| Subordinated | A- | (P) A2 |
Truist is the bank formed by the merger of BB&T and SunTrust. Truist provides financial services to about 12 million consumer households, as of 2020. BB&T and SunTrust, which were ranked the 11th and 12th largest banks by assets, respectively, as of Sept. 30, 2019, now form a top-10 bank.
| Ranking | Bank Name | Assets |
|---|---|---|
| 6 | PNC | $554.1 billion |
| 7 | Truist Bank | $546.8 billion |
| 8 | Goldman Sachs | $517.1 billion |
| 9 | Capital One | $465.0 billion |
| Rank | Bank | Assets (domestic) |
|---|---|---|
| 1 | JPMorgan Chase Bank | $2.61 trillion. |
| 2 | Bank of America | $2.34 trillion. |
| 3 | Wells Fargo Bank | $1.68 trillion. |
| 4 | Citibank | $1.01 trillion. |
The ābig four banksā in the United States are JPMorgan Chase, Bank of America, Wells Fargo, and Citibank. These banks are not only the largest in the United States, but also rank among the top banks worldwide by market capitalization, with JPMorgan Chase being the most valuable bank in the world.
| Feature | Personal Finance Insider rating (out of 5) |
|---|---|
| Savings | 3.5 |
| Checking | 4 |
| Money market | 3 |
| Trustworthiness | 5 |
Which banks are most at risk?
- First Republic Bank (FRC) . Above average liquidity risk and high capital risk.
- Huntington Bancshares (HBAN) . Above average capital risk.
- KeyCorp (KEY) . Above average capital risk.
- Comerica (CMA) . ...
- Truist Financial (TFC) . ...
- Cullen/Frost Bankers (CFR) . ...
- Zions Bancorporation (ZION) .
- Ally Bank.
- Citizens Bank.
- Bank of the West.
- US Bank.
- SunTrust.
- Union Bank.
- Wells Fargo.
- HSBC.
- Lloyds 60.
- Halifax 47.
- Barclays 34.
- NatWest 21.
- Bank of Scotland 16.
- Ulster Bank (NI) 10.
- RBS 1.
- HomeStreet (HMST) little girl holding a stock chart with athumbs down. ...
- Western Alliance (WAL) a frustrated man with a white board behind him that features a black downward arrow. ...
- ECB Bancorp (ECBK) ...
- PacWest Bancorp (PACW) ...
- First Foundation (FFWM)
There is a systemic risk of large-scale bank failures in the U.S. in 2024 due to charge-offs and write-downs emanating from the commercial real estate sector. Bank regulators have been vocal about their concerns that the too-big-too-fail banks would have sufficient capital to cover losses and a recession.
Long-established in the Banks industry, Truist Financial Corp (NYSE:TFC) has enjoyed a stellar reputation. It has recently witnessed a daily gain of 6.76%, juxtaposed with a three-month change of -8.4%.
The agency's review of Truist will focus on the bank's management plans and timeline for improving its capitalization. Moody's will also assess the bank's asset liability management framework and the possibility that Truist's deposit funding profile could weaken amid the higher interest rate environment.
Founded in 2019 with the merger of BB&T and SunTrust, Truist Bank is now one of the largest banks in the U.S. Like other big national banks, its interest rates are ridiculously low, but it has a benefits program on its checking account that could reward loyal Truist Bank clients immensely.
- The Truist One Savings account offers a rock-bottom APY.
- A $3 monthly fee applies for paper statements for the Truist One Savings account.
- The account isn't tiered.
- There's a $5 fee for each withdrawal above the monthly limit.
Truist Financial Corporation is an American bank holding company headquartered in Charlotte, North Carolina.
Is Truist Bank a FDIC?
Truist Bank is subject to supervision by the FDIC, the North Carolina Office of the Commissioner of Banks (āNCCOBā), and the Consumer Financial Protection Bureau (āCFPBā).
Truist Financial Corporation is a leading name in the banking industry, renowned for its seamless integration of technology and customer-focused services. Formed through the merger of BB&T and SunTrust Banks, Truist has established itself as a powerhouse in the financial sector.
However, because credit unions serve mostly individuals and small businesses (rather than large investors) and are known to take fewer risks, credit unions are generally viewed as safer than banks in the event of a collapse.
Truist Financial (TFC -0.80%) is technically a regional bank, in the sense that it primarily operates in the Southeast and Mid-Atlantic regions of the United States.
| Company | APY |
|---|---|
| Ally Bank Best Overall | 4.35% for savings, 0.10-0.25% for checking |
| Synchrony Bank Best for Savings | 4.75% for savings, no checking |
| Capital One Best for College Students | 4.30% for savings, 0.10% for checking |
| Discover Best for Checking | 0% for checking (1% cash-back), 4.30% for savings |
