How the world’s top banks can save you money at a time when they should be doing it
The top 10 global banks have all been in a state of financial turmoil over the past year, the latest sign that they have not figured out how to deal with the global economic crisis and the fallout from it.
At the same time, some of the world, including the U.S., are struggling with the fallout of the financial crisis and its aftermath.
The latest numbers from Bloomberg show the five largest global banks, based on assets, were all trading above their September 2016 lows in September.
All five of the top 10 banks traded at least above their low-point, which was a record high for all of 2015.
The three banks that lost money the most in the first quarter, HSBC, Deutsche Bank and Citigroup, were among the worst performers, and were the only three that traded below their lows in the third quarter.
At least seven of the 10 worst performers were U.K.-based banks.
Barclays fell 8.5 percent, HSBC fell 9.5 and Deutsche Bank was down 5.7 percent.
But all of those are the most recent lows, which came in September, not December.
The Barclays report comes just as the U, U.N. and other international financial institutions are working to cut the global trade deficit, which is expected to reach $700 billion this year.
The U.n. and the European Union have all agreed on a plan to reduce the trade deficit to $60 billion by 2020.
That is a much lower deficit than the $160 billion the U-20 group agreed to in December.