According to the Federal Reserve System’s National Information Center, the top five bank holding companies (in order) are Citigroup, Bank of America, JP Morgan Chase, Wachovia and Taunus (Deutsche Bank).
As of 9/30/2007, the top five hold $6,775,079,249,000.00 in assets. That’s six trillion, seven hundred seventy-five billion, seventy-nine million, two hundred forty-nine thousand dollars of assets.
Three of the top five are headquartered in New York City, NY (Citigroup, JPMorgan Chase & Taunus). Bank of America and Wachovia are headquartered in Charlotte, NC.
In 2006, there were 1,279 savings institutions according to the FDIC. 435 were supervised by the FDIC, the balance were supervised by the Office of Thrift Supervision (OTS).
In 2005, there were 7,527 FDIC-insured banks with 72,775 branches and 80,302 offices at year end.
In 1934, there were 14,146 FDIC-insured banks (unknown number of branches) at year end.
At the end of 2005, the total assets of all FDIC-insured banks was $10,090,355,277,000.00. That’s ten trillion, ninety billion, three hundred fifty-five million, two hundred seventy-seven thousand dollars.
At the end of 1934, the total assets of all FDIC-insured banks was $46,437,000,000.00. That’s a mere forty-six billion, four hundred thirty-seven million dollars. Inflation adjusted according to the Bureau of Labor and Statistics and you’re talking about $676,801,950,000.00 in 2005 dollars.
Wednesday, March 11, 2009
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