Q. Is there a Web site that gives information on the strength of banks, especially local ones? -- C.C.
A. You can find some information on government-sponsored Web sites, such as the Federal Deposit Insurance Corp.'s www.fdic.gov and the Office of the Comptroller of the Currency's www.helpwithmybank.gov.
The FDIC is an independent agency created by the Congress to maintain stability and public confidence in the financial system. The Office of the Comptroller regulates national banks.
The FDIC provides information on when a particular bank was established and when it became FDIC insured, along with a copy of the bank's most recent quarterly Report of Condition and Income. According to the FDIC, Reports of Condition and Income provide timely and accurate financial data regarding a bank's condition and the results of its operations and are the only publicly available source of information regarding the status of the U.S. banking system. The average person, however, may have to work at interpreting the reports.
Private companies offer their own evaluations of banks, but they may charge for the information. A Web site affiliated with Nationwide Card Services, www.bankrate.com, uses a star-rating system for its evaluation of banks based on capital adequacy, asset quality, profitability and liquidity. You can access a bank's star rating on the site free of charge.
Your bank's annual report is another source of information.
Thanks
To the person who found my hubcap and stacked it against a utility pole on Reynolda Road. -- J.M.
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