The four largest “Too Big To Fail(TBTF)” U.S. banks Bank of America (BAC), JPMorgan Chase(JPM), Citigroup (C) and Wells Fargo(WFC) continue to remain as the largest banks in the country. These TBTF banks are also known as the superbanks.
From a November, 2009 article titled Too-Big-To-Fail and the Theory of Large Numbers by Henry C.K. Liu:
“JP Morgan Chase is reportedly holding more than $1 of every $10 on deposit in the US. The four biggest super banks (JP Morgan Chase, Bank of America, Wells Fargo and Citibank) now issue one of every two mortgages and about two of every three credit cards in the
Sheila C. Bair, chairman of the Federal Deposit Insurance Corp, described the TBTF problem as: “It fed the crisis, and it has gotten worse because of the crisis.”
The
The chart below shows the 13 Largest 13 U.S. Banks by Market Capitalization:
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The largest four also hold the largest bank deposits. The market cap of US bank (USB) is less than half of Citigroup, the fourth largest bank. The market cap of Bank of America is higher than all the non superbanks except U.S. Bank.