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Your deposits are absolutely Safe! National City has been around since 1845 and currently have the highest tier 1 capital ratio of all large banks in the U.S.
National Citys pro-active measures in dealing with the mortgage crisis early has enabled them to be in the position to move through these turbulent times without the need for any merger or additonal capital raise. National City Bank exit-ed the Subprime lending in 2006 and was one of the first banks liquidating and writing down non-performing loans. The bank was also ahead of the curve in preparing for future.
In late March, early April of 2008 the Bank raised an additional 7 Billion in Capital which is more that enough to cover all additional losses in the coming years.
I believe currently the bank ranks in as the 11th Largest Bank in the U.S. and they have a surplus of capital to weather the financial storm regardless if the Financial Rescue plan goes through the House. After WaMU and Wachovia hitting the spotlight, NCC has had its stock price beaten and has been the victim of widespread panic that the media has driven over the past week with growing concerns and unknowns of what regional bank may be next?
NCC business is completely different from the late Washington Mutual and Wachovia.
What ended up happening to WAMU was a run on the bank where they lost between 17-19 Billion in consumer deposits in the last 10 days before FDIC Seized it. No bank would be able to survive a run on the bank with that size and percentage of depositors jumping ship. The best thing to do is check to see if you are FDIC insured and continue your business with National City Bank. You will be glad you did.
In fact there have been over 7 major analyst who have upgraded NCC this week. In Addition, All depositors who have accounts under the FDIC Limits are protected by FDIC. You may also see with part of the Financial Rescue package that will probably pass through the House by Friday that the FDIC Limits will be increased even further.
This will add additional protection for depositors in the bank. Hope this helps,
Sincerely
Licensed Financial Advisor
Wiki User
∙ 15y ago
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Can you make a deposit through any bank or does it have to be at the bank where the account is held?
Deposits can be made only in the bank in which you have an account. Banks that offer core banking service, give you the option of using any of their branches, but deposits can be done only in the same bank and not a different bank.
How can a person determine the current mortgage rates offered by National City Bank?
National City Bank is now known as Citibank. To get information about their current mortgage conditions one could either contact an agent online via their official website or could make an appointment at a local subsidiary.
Why is it important to make your bank deposits as soon as possible?
If you are depositing a check, they usually expire after 60 days.
How does a bank make most of its profit on its business?
By paying out less in interest on deposits than it earns in interest on loans
How does a bank make most of its profits on its business?
By paying out less in interest on deposits than it earns in interest on loans
Can you make a deposit through any bank or does it have to be at the bank where the account is held?
Deposits can be made only in the bank in which you have an account. Banks that offer core banking service, give you the option of using any of their branches, but deposits can be done only in the same bank and not a different bank.
What was the solution of Jefferson's national debt?
Make a national bank
What are the reviews like for the online banking for National City Bank?
Reviews of the online banking for the National City Bank are generally favorable with very few bad reviews. Online banking allows one to check their balance any time of the day or night and make transactions as they wish.
How can a person determine the current mortgage rates offered by National City Bank?
National City Bank is now known as Citibank. To get information about their current mortgage conditions one could either contact an agent online via their official website or could make an appointment at a local subsidiary.
What if your savings account balance at the Superb Savings Bank is currently 350 If you make no deposits and your balance next year is 362.25 what is the growth rate offered by this bank?
What if your savings account balance at the superb Savings Bank is currently $350 if you make no deposits and your balance next year is $362.25 what is the growth rate offered by this bank? Show and explain your work.
Why is it important to make your bank deposits as soon as possible?
If you are depositing a check, they usually expire after 60 days.
What type of bank account that allows you to make deposits write checks and withdraw money is?
A checking account.
What is the difference between an investment bank and a retail bank?
an investment bank is a non depository institution, and a commercial bank takes customers' deposits.
How does a bank make most of its profit on its business?
By paying out less in interest on deposits than it earns in interest on loans
How does a bank make most of its profits on its business?
By paying out less in interest on deposits than it earns in interest on loans
What saving options do bank offer to make your money grow?
Banks offer various options to make your money grow. Some of them are: A. Fixed Deposits B. Recurring Deposits C. Savings Accounts Apart from this, bank also sell investment & insurance products to help you grow your money
What should you do after receiving your statement from the bank?
You should compare your statement from your bank with your expenses and deposits to make sure they are correct. You can use your bank statement to balance your checkbook. Then you should file it with your other monthly bank statements.
