There’s a new list out of the world’s safest banks and there aren’t very many Americans institutions on it. Global Finance Magazine today released its annual assessment, based on credit ratings, of the top 50 safest banks out of the world’s largest 500. The first U.S. bank on the list comes in at No. 32: It is Bank of New York Mellon.
JPMorgan Chase is No. 39, and Wells Fargo is 42. The only other two, U.S. Bancorp and Northern Trust, are 47 and 49, respectively. This year, the safest bank according to the magazine is Germany’s KfW.
It’s a big change from the 2008 list, on which Wells Fargo held ninth place. In 2007, just as the banking crisis was beginning, Wells ranked eighth and Citigroup was 11th.