I'd never have believed it had I not seen two charts this morning courtesy of www.strategasrp.com. Each shows banks relative to gold, expressed as a price ratio. The first is U.S. banks, the second is European banks.
Global regulators this week put JPMorgan Chase & Co. and HSBC Holdings Plc at the pinnacle of a list of 29 too-big-to-fail banks that face tougher capital rules than other lenders. The companies were also handed a map to plot their descent.
ING Groep NV, the biggest Dutch financial-services company, will complete its reorganization two years earlier than planned after winning regulators’ permission to combine its Japanese insurance unit with European operations in a 2014 initial public offering.
Nordea Bank AB, the Nordic region’s largest lender, joined Svenska Handelsbanken AB and Swedbank AB in reporting a jump in capital ratios after profits increased, cementing their positions as Europe’s best capitalized banks.