FR system is a modifed CB - Bank of ND is true CB

[bimetalaupt]

It is interesting to note that states are looking at the 97 year old Bank of North Dakota as a model for a true state bank.. Like some German State bank started by General Marshall after WWII.
Addressing the Problem at Its Source: The North Dakota Model

While drastic spending cuts are being proposed and implemented, the states' woes are not the result of over-spending. Rather, they were caused by loss of revenues and increased borrowing costs resulting from the Wall Street banking crisis. Jammed with toxic assets, derivatives, and the subprime mortgage debacle, the Wall Street credit machine ground to a halt in the fall of 2008 and has still not recovered.

And it is here, in generating credit for the state, that the Bank of North Dakota has been spectacularly successful. By providing affordable, low interest credit for business expansion, new businesses and students, the BND has helped North Dakota sidestep the credit crisis altogether.

The BND partners with private banks, providing a secondary market for mortgages; offers "wholesale" banking services such as check clearing and liquidity support to private banks; and invests in North Dakota municipal bonds to support economic development. In the last ten years, the BND has returned more than a third of a billion dollars to the state's general fund. North Dakota is one of the few states to consistently post a budget surplus.

Unlike private banks, public banks don't speculate or gamble on high risk "financial products." They don't pay outrageous salaries and bonuses to their management, who are salaried civil servants. The profits of the bank are all returned to the only shareholder - the people.

Washington State Representative Bob Hasegawa, a prime sponsor of the Washington legislation, called the proposal for a publicly-owned bank "a simple concept that will reap huge benefits for Washington." In a letter to constituents, he explained, "The concept (is) to keep taxpayers' money working here in Washington to build our economy. Currently, all tax revenues go into a "Concentration Account' held by the Bank of America. BoA makes money off our money and we never see those profits again. Instead, we can create our own institution and keep taxpayers' dollars here in Washington, working for Washington."
:oIt may be smaller in size to West LB or Texas Farm Credit Bank but it does support many small banks in North Dakota.. The best economy in the USA!!! From the BND site!!!
Welcome to Treasury Services!

The Investment Department's Federal Funds program includes more than 110 financial institutions in North Dakota averaging a daily volume of $330 million.

Safekeeping and Pledging Services cover more than 200 customers with assets of almost $2.0 billion.

The Trust Department provides Corporate Trust services for the State of North Dakota and its political subdivisions, serving as trustee for 52 municipal issues with assets of $340 million.

The department also offers bond register, transfer agent and paying agent services for more than 225 municipal issues with outstanding principal balances exceeding $660 million. ... IN FACT THIS SAVES THE CITIES A LOT OF MONEY HAVING NOT TO HAVE TO USE WALL STREET FOR THESE SERVES.. BET V.L. WILL LOVE THIS PART OF THE CENTRAL BANK OF NORTH DAKOTA!!

The department serves as an escrow agent for more than 330 accounts with assets of $59 million. NOW THAT IS SAVING MONEY AND INCREASING EMPLOYMENT IN NORTH DAKOTA... SO HOW MANY CREDIT UNIONS USE THE SERVICES OF BND ???LIKE THE AFTER WWII DEPRESSION IN GERMANY .. THIS BANK A A REAL PLACE TO FILL IN THE RECOVERY.. WASHINGTON STATE MAY ALSO DO THE SAME AS WEST LB HOME GERMAN STATE.
[/img] ACTION!!

Attachments:

[bimetalaupt]

Introduction

Prairie Public Productions created a television documentary about Bank of North Dakota (BND) in 2005 through the generous support of a USDA Rural Development Grant. The production highlights BND’s unique history as the only state owned bank in the nation. The following historical overview is provided courtesy of Prairie Public Television.

It comes as a surprise to many that North Dakota's largest bank is owned and operated by the State – the only one of its kind in the United States.
Bank of North Dakota building

In 1919, an agrarian revolt led by the Non-Partisan League forever changed the economic landscape in North Dakota. Called "a social experiment in state control" the League's Industrial Program sought to break the dominance of the out-of-state financiers who controlled the state's economy. V.L... This bank ifs for you.. Anti-Wall Street and anti-Saint Louis.. The main banking kinds of the time!!!

Cartoon from the collection of Institute of Regional Studies, North Dakota State Univers

[bimetalaupt]

For those who want to find new answers to the Federal Reserve Modified Central Banking system.. There is always 50 State Central Banks and KASOS!!! So Lets 'Get Smart"...That would be very political.. You can see the liberal Left Very High cost States just printing money like the French would!!!!javascript:adds("%20%20")
Welcome to Banking Services!

Bank of North Dakota is a Correspondent Bank for most financial institutions in North Dakota. In this role, the Bank provides a secure, ???cost-effective service with high availability of funds . Currently, the Bank processes more than 3 million items per month.

Many North Dakota financial institutions maintain their check clearing with BND and use the Bank's account with the Federal Reserve Bank to settle their cash letter charges, ACH activity, or other activity received through the Federal Reserve System.

In addition, our Retail Department provides services to depositors of Bank of North Dakota. While BND does have retail products similar to other financial institutions, these services are limited in scope.

In contrast to most commercial banks, Bank of North Dakota is not a member of the Federal Deposit Insurance Corporation (FDIC). North Dakota Century Code 6-09-10 provides that all deposits in Bank of North Dakota are guaranteed by the state.

[Aman A.K.A. Ahamburger]

This is great B. Since this is working with Federal notes, you could have banks making money for each state and still have a single currency to avoid individual states from printing their own currency!! Brilliant as always!!!

[bimetalaupt]

Jan 25, 2011 1:47:46 GMT -5 Aman A.K.A. Ahamburger said:

This is great B. Since this is working with Federal notes, you could have banks making money for each state and still have a single currency to avoid individual states from printing their own currency!! Brilliant as always!!!

A++.,
Yes I did use M0 like printing money .. More like M2... large Accounts from Checking accounts to Super size CD's (M3)... Following Correspondent Banking is a bit tricky as to where the money ends up.. It is all about Money multiplicity...Just a thought, Bruce
From Flow5 addressing on M2 growth...
Interesting tidbit on M2:

"There is a strong correlation between big increases/decreases in refinancing activity and faster/slower growth of M2. That's because the refinancing process temporarily creates a lot of extra "money" as money flows into and sits in escrow accounts. Most recently, M2 growth has slowed sharply (the result of rising interest rates since last summer), just as refinancing activity has dropped rather rapidly. The recent slow growth in M2 (2.5% annualized growth over the past three months) is nothing to worry about, because it is most likely the natural result of a decline in mortgage refi activity"


Calafia Beach Pundit
==============

Interesting tidbit on refi's & M2. Escrow accounts classified as belonging to the M2 aggregate. Mortgage suppliers were originally dominated by the S&L's, & Mutual Savings banks. Those intermediaries were the customers of the commercial banks and held large balances in the CBs (some of those balances were previously classified in the M1 aggregate, but MSB's balances in the CB's were designated as IBDD's).

Read more: notmsnmoney.proboards.com/index.cgi?board=moneytalk&action=display&thread=273&page=7#ixzz1C1o3RJgI

[bimetalaupt]

BND has a great rating by S&P.. A+

Major Rating Factors
Strengths:
• Ownership by North Dakota
• Good capitalization
• Strong asset quality
Counterparty Credit Rating
A+/Stable/A-1
Weaknesses:
•
•
•
•
Concentration in North Dakota
Large indirect exposure to agriculture
A risk profile subject to shifting political conditions
Limited capital flexibility
Rationale
Standard & Poor's Ratings Services' rating on Bank of North Dakota (BND) reflects its ownership by the state of
North Dakota (A+/Stable/--). The rating is also based on the application of our criteria for government-related
entities (GREs), as a result of which we impute a one-notch uplift from the company's 'A' stand-alone credit profile
(SACP). In our opinion, there is a high likelihood that the state of North Dakota would provide timely and sufficient
extraordinary support to BND, as the state owns, controls, and maintains BND. Moreover, the state explicitly
guarantees all deposits in BND, as codified in the North Dakota Century Code (NDCC §6-09-10). The deposit
rating of 'AA+' parallels that of the state of North Dakota. No other liabilities have an explicit guarantee.
Our SACP on BND reflects the bank's good capital and strong asset quality. The bank's concentration in the state of
North Dakota, indirect exposure to agriculture, limited capital flexibility, and risks related to the changing political
environment, constrain the ratings.
Capital is a strong point for BND, and the bank ranks high among its rated peer group. However, capital is usually
limited by the large appropriation the bank typically makes to the state's general fund. Positively, BND will not have
to make any appropriation payout for 2010 or 2011, due to the strength of the state's financial performance. This
should further enhance the company's capital as the bank will be able to retain its earnings.
Despite its concentration in one state, BND has a relatively diverse loan portfolio and maintains strong asset quality,
which is also better than those of its comparably rated peers. BND serves as correspondent to many of the state's
banks. Therefore, the health of these institutions could directly affect that of BND. North Dakota banks are mainly
smaller community institutions that have not been immune to the economic recession. Despite asset-quality
pressures on some banks in North Dakota, the relative strength of North Dakota's economy and the guarantees on
BND's loan portfolio should keep BND's asset-quality ratios above average, we believe. BND's historic and current
strong asset-quality measures, with no charge-offs at March 31, 2010, further mitigate the matter.
North Dakota's steadily growing economy throughout economic cycles buttresses the rating on BND. Further, the
state of North Dakota boasts the lowest unemployment rate in the U.S. at 4%, as of the end of March. Due to the
extensive reach of agriculture in the state's economy, all loans, regardless of type, are affected by agriculture.
Standard & Poor’s | RatingsDirect on the Global Credit Portal | July 27, 2010
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Bank of North Dakota
Therefore, BND's lending portfolio is indirectly related to the agricultural sector. Nonetheless, the economy of
North Dakota continues to post strong revenue performance when many other states continue to struggle. This
strong performance is attributed to its two key sectors--oil production and agriculture--mitigating our agricultural
concern at the moment.
Any significant changes in the political environment of the state that result in legislative change could materially
affect the bank's risk profile. We consider this risk to be low, as ongoing changes in the political landscape have not
led to any material changes in the bank's financial condition since its inception in 1919.
We are nonetheless concerned that a large percentage of BND's deposits come from the state of North Dakota.
However, this concentration risk is mitigated because state law requires all state funds and funds of state
institutions, with few exceptions, to be deposited with BND.
Outlook
The stable outlook reflects our expectations that BND should continue to perform well throughout this economic
environment and that asset quality will remain acceptable. We could lower the ratings if the state's economy
deteriorates, or if asset-quality levels deteriorate significantly, pressuring BND's earnings. A change in the political
atmosphere could affect the ratings either positively or negatively.
Profile: Unique Business Model In Its State
We view BND's business model as unique. Headquartered in Bismarck, N.D., the bank was created due to a dearth
of lenders in the state willing to support local businessmen and farmers. The bank's static membership supports its
primary role in financing economic development in North Dakota.
Despite its narrow focus, BND is the second-largest bank in the state, measured by deposits. The bank's deposits are
not federally insured and it gets no oversight from U.S. government authorities or banking regulatory bodies. Still,
the state is required by law to guarantee all of BND's deposits. Because of this guarantee, we rate the deposits 'AA+',
the same level as the state. No other liabilities have an explicit guarantee. The bank has only one office and acts as
the agent of several state-legislated programs, as a lender, as a depository for state agency funds, and as a
correspondent bank to private financial institutions in the state.
Government Support and GRE Methodology Impact
The state of North Dakota owns, controls, and maintains BND. The bank has a seven-member advisory board
appointed by the governor. This board reviews BND's operations and makes recommendations to the State
Industrial Commission relating to BND's management, services, policies, and procedures. Members of the Industrial
Commission are the Governor, who acts as chairman; the Attorney General; and Agriculture Commissioner of the
state of North Dakota. Moreover, the state explicitly guarantees all deposits in BND as codified in the North
Dakota Century Code (NDCC §6-09-10).
In accordance with our GRE criteria, we base our view of a high likelihood of extraordinary government support on
our assessment of BND:
www.standardandpoors.com/ratingsdirect
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Bank of North Dakota
• Its important role in promoting the state government's economic development and stabilization process by
delivering quality, sound financial services that promote agriculture, commerce, and industry in North Dakota.
• Its integral link with the state government, as the bank acts as the agent of several state-legislated programs, as a
lender, as a depository for state agency funds, and as a correspondent bank to private financial institutions in the
state.
Strategy: Supporting State Financial Needs
We regard BND's management strategy as conservative and supportive of the bank's business goals. Management
has worked with state agencies and private banks in the state to promote charter objectives. We expect management
to continue meeting the needs of its customers as it fulfills its mission to deliver quality, sound financial services that
promote agriculture, commerce, and industry in the state. As we expected, loan growth was moderate in 2009, at
3.6% relative to the 30% growth the bank experienced during 2008. The changes in the student loan industry, with
the elimination of the Federal Family Education Loan Program, will have a significant effect on BND. Consequently,
as of July 1, 2010, BND no longer provides loans through this program, which had generated $120 million-$130
million in volume per year for the bank. The bank will continue to issue loans from the Dakota Education
Alternative Loan program. We expect loan growth to remain steady in 2010 relative to 2009.
Risk Profile And Management: Adequate
We assess BND's enterprise risk management as adequate. The bank has instituted corporate-wide risk systems that
establish risk limits, risk identification, and risk monitoring. Senior management has identified policy objectives
consistent with the legislative goals established for BND, which are within the bank's managed-risk limitations.
BND has formulated good asset-liability management, an assured source of deposit funding, and strong asset-quality
measures.
The bank's main risk is credit risk, but interest rate risk is also important. Positively, the U.S. government's
guarantee of the majority of BND's loan portfolio mitigates credit risk. The fact that a large percentage of BND's
deposits come from the state represents a weakness, but this concentration risk is mitigated because state law
requires these deposits, with few exceptions, to be made with BND. BND's primary revenue sources include direct
student lending, residential loan purchases, commercial and agricultural loan participations, and treasury services,
which include federal funds purchases and sales. The bank has a moderate risk related to political developments in
the state, but we view this risk as low.
Credit risk: Minimal
BND's credit risk is minimal and, at the moment, not a major concern. The bank is restricted from initiating and
originating commercial loans exclusively for its own account, but it participates in loans that other North
Dakota-based commercial banks originate. Although other institutions have experienced some pain from the
weakened national economic environment, we do not expect this to have a material effect on BND's performance.
The bank has guarantees, reserves, and workout programs that help mitigate this concern. Federal and state agencies
guaranteed 52% of the loan portfolio at March 31, 2010. BND uses these guaranty programs to reduce its exposure
to risks to the agricultural economy.
BND's relatively diverse loan portfolio totaled $2.8 billion at March 31, 2010, a 5% increase from a year ago.
Standard & Poor’s | RatingsDirect on the Global Credit Portal | July 27, 2010
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Bank of North Dakota

[Aman A.K.A. Ahamburger]

The bank is restricted from initiating and
originating commercial loans exclusively for its own account, but it participates in loans that other North
Dakota-based commercial banks originate. Although other institutions have experienced some pain from the
weakened national economic environment, we do not expect this to have a material effect on BND's performance.

Interesting point there. Since the bank is owned by the state, it's easier to make sure they are practicing good policies. If all money flowed to the states through individual SCBs. You would in essence be able to make sure that proper banking practices were met that fit with what is good for the people.

[comokate]

I've worked with ( still do) several people from North Dakota. Good, solid, honest people, every one of them. They all go "back home" for the holidays and upon returning remark how strong the economy there is. Being primarily an agricultural state, now with newly discovered oil reserves, "people gotta eat, and people gotta drive". It is also a sparsely populated state with the dominant ethnic group being careful, conservative, northern European farming stock. No "prey on your neighbor" ( the opposite is true, as they often help each other with harvesting and during flooding and other natural disasters), no "get rich quick" schemes/investments, no flashy clothes or cars...nope, none of that. I admire the heck out of them.

North Dakota volunteers sandbagging the banks of the Red River during one of the many spring floods

[scaredshirtless]

This is a GREAT catch Bruce!

And I'm REALLY likin' this idea.

How do we do this. *** OR *** What am I missing?

[bimetalaupt]

Then the public bet on the economy is driven with bank asset...

BISMARCK, N.D. (AP) — Supporters of a new oil refinery in western North Dakota want state subsidies and a guaranteed loan for the project.

Parshall Rep. Kenton Onstad's bill would provide $5 million in matching money to the project's developer for permit expenses. The Bank of North Dakota would also guarantee up to $50 million in loans.

The North Dakota House's Industry, Business and Labor Committee reviewed the bill Tuesday.

A study last year said the project isn't likely to attract private investment without some government incentives. The study says a small refinery that makes diesel fuel and naphtha has the most market potential.

The naphtha would be sold to Canadian oil producers as a thinning agent to allow heavy crude oil to be shipped through pipelines.

[itstippy]

Great Googly Moogly! The Bank of North Dakota hasn't changed their business model since it was formed in 1919?!? That's got to be the most un-sexy way of conducting banking I've ever heard of.

Where are their "Exciting New Financial Products"? The whole point of Gramm Leach Bliley was to smash through the outdated Glass-Steagall banking regulations and pave the way for innovative and exciting new banking practices. Hello, North Dakota? It's called the "Financial Services Modernization Act of 1999". Read up on it. You don't have to spend endless hours exhaustively examining risk or collateral or any of those archaic banking procedures from a bygone era.

If you can't develop innovative ways to provide half-a-million dollar mortgages to self-employed mariachi players, those mariachi players will leave your State and go elsewhere. If you are unwilling to issue multi-million dollar annual bonuses to your star derivatives traders, those traders will seek employment elsewhere. You will be left with NO high-flying mariachi players OR star derivatives traders. Then where will you be?

Furthermore, soon you will be UNABLE TO COMPETE IN THE GLOBAL FINANCIAL MARKETPLACE! The National Bank of Greece will partner with Bank Of America and deny you access to Dubai Commercial Real Estate Backed Securities. You'll be toast, ya Luddites.

Here's how to properly run a modern bank:
www.nytimes.com/2008/12/28/business/28wamu.html?_r=1&ref=business&pagewanted=all

[bimetalaupt]

Its Tippy,
Well it is the State of North Dakota DBA Bank of North Dakota.. They missed out on the Battleship name too..The Montana Class was never built.. So the missed out on the 100 billion loss AIG had on bonds sold to Citigroup. Well in the old day when you borrowed money from the bank the loss or profit were taken by the partner who was assigned the loan. Back then the Loan Sharks got 3% interest.. That is 3% per month and you made payment that were interest only.. many thought they were paying off the loan but they were not.. Interest only..That is why the banker's had the largest houses in town.

On the other hand they build rail roads in North Dakota the old business model way.. Borrow 125% of value of an asset and tell the bank it will grow in value as you add track to the system. Then it will be worth 250% of the original cost. Just look at the SOO line that sold off all it track to the Local!!!

DMVW Started operations in September, 1990, when the company was the successful bidder to operate 360 miles of Soo Line track and trackage rights in North Dakota and Montana. DMVW's orginal network consisted of track between Oakes to Washburn, and Flaxton to Whitetail, Montana.

Since 1990, DMVW has added the following line segments to its network:
-Washburn to Max
-McKenzie to Moffit
-Oakes to Hankinson
-Geneseo Jct. to Aberdeen, SD

DMVW railroad operates approximately 522 miles of track in North Dakota, South Dakota and Montana. DMVW's network includes 435 miles of track
that is leased from Canadian Pacific Railway (core), 12 miles of track from McKenzie to Moffit, North Dakota (Linton Line), and 75 miles of track from Geneseo, ND, to Aberdeen, SD, (Britton Line).

DMVW maintains its headquarters in Bismarck, ND and has Field offices in Crosby, Wishek, and Oakes, North Dakota, as well as Britton, South Dakota.

DMVW also performs industrial switching operations for a refinery in Mandan. And the Bismarck Northern Plains Commerce Center.

[bimetalaupt]

Jan 30, 2011 9:08:50 GMT -5 @itstippy said:

Great Googly Moogly! The Bank of North Dakota hasn't changed their business model since it was formed in 1919?!? That's got to be the most un-sexy way of conducting banking I've ever heard of.

Where are their "Exciting New Financial Products"? The whole point of Gramm Leach Bliley was to smash through the outdated Glass-Steagall banking regulations and pave the way for innovative and exciting new banking practices. Hello, North Dakota? It's called the "Financial Services Modernization Act of 1999". Read up on it. You don't have to spend endless hours exhaustively examining risk or collateral or any of those archaic banking procedures from a bygone era.

If you can't develop innovative ways to provide half-a-million dollar mortgages to self-employed mariachi players, those mariachi players will leave your State and go elsewhere. If you are unwilling to issue multi-million dollar annual bonuses to your star derivatives traders, those traders will seek employment elsewhere. You will be left with NO high-flying mariachi players OR star derivatives traders. Then where will you be?

Furthermore, soon you will be UNABLE TO COMPETE IN THE GLOBAL FINANCIAL MARKETPLACE! The National Bank of Greece will partner with Bank Of America and deny you access to Dubai Commercial Real Estate Backed Securities. You'll be toast, ya Luddites.

Here's how to properly run a modern bank:
www.nytimes.com/2008/12/28/business/28wamu.html?_r=1&ref=business&pagewanted=all

I know Phil Gramm.. I met him at a meeting of Republican Mens club in Midland,TX. In fact I was introduced by George W to him during his First run to John Towers 's Seat. I do recall him talking to George and I about some of the silliness in the Banking laws.. .

It is interesting how the Profits in large banks grew on the books from 1972 to 1990's. I think the ROE for Citigroup went from 20% to about 37% during this area. All about risk. It is all about who lends the King money when he needs it.. The old area from Frankford am Main.. I think this is the Rothschild house with the large arches.. They shared it with Oppenheimer/ .. Like living in a castle.. High quarters with a lot more people then you think and Lower floors for trade and banking. The last name of the family or person changed with address etc so a man may have had four names during his lifetime.

Attachments:

[bimetalaupt]

YES ...BANK of NORTH DAKOTA IS MAKING LOANS IN THE RED STATE!!  BECAUSE IT WORKS FOR THE PUBLIC..SOMETHING NEW YORK FORGOT...JP MORGAN ON  HIS OWN SAVED THE GOVERNMENT AND THE ECONOMY...."One of America's Best Kept Secrets..."
www.alternet.org/corporate-accountability-and-workplace/why-socialism-doing-so-darn-well-deep-red-north-dakota

Why Is Socialism Doing So Darn Well in Deep-Red North Dakota?
North Dakota's thriving state bank makes a mockery of Wall Street's casino banking system -- and that's why financial elites want to crush it.

March 29, 2013 |


North Dakota is the very definition of a red state. It voted 58 percent to 39 percent for Romney over Obama, and its statehouse and senate have a total of 104 Republicans and only 47 Democrats. The Republican super-majority is so conservative it recently passed the nation's most severe anti-abortion resolution – a measure that declares a fertilized human egg has the same right to life as a fully formed person.

But North Dakota is also red in another sense: it fully supports its state-owned Bank of North Dakota (BND), a socialist relic that exists nowhere else in America. Why is financial socialism still alive in North Dakota? Why haven't the North Dakotan free-market crusaders slain it dead?

Because it works.

In 1919, the Non-Partisan League, a vibrant populist organization, won a majority in the legislature and voted the bank into existence. The goal was to free North Dakota farmers from impoverishing debt dependence on the big banks in the Twin Cities, Chicago and New York. More than 90 years later, this state-owned bank is thriving as it helps the state's community banks, businesses, consumers and students obtain loans at reasonable rates. It also delivers a handsome profit to its owners -- the 700,000 residents of North Dakota. In 2011, the BND provided more than $70 million to the state's coffers. Extrapolate that profit-per-person to a big state like California and you're looking at an extra $3.8 billion a year in state revenues that could be used to fund education and infrastructure

Look at the GSP!!!

How the State Bank Creates Jobs

Banks are supposed to serve as intermediaries that turn our savings and checking deposits into productive loans to businesses and consumers. That's how jobs are supported and created. But the BND, a state agency, goes one step further. Through its Partnership in Assisting Community Expansion, for example, it provides loans at below-market interest rates to businesses if and only if those businesses create at least one job for every $100,000 loaned. If the $1 trillion that now flows to Wall Street instead were deposited in public state banks in all 50 states using this same approach, up to 10 million new jobs could be created. That would effectively end our destructive unemployment crisis.

No Bailouts for the BND

Banking doesn't have to be a casino. It doesn't have to be designed to create gambling opportunities so bank traders and executives can make seven- and eight-figure salaries. As BND president Eric Hardmeyer said

[bimetalaupt]

Business Impact

Provide information on customers to indicate credit worthiness
Identify characteristics and defining factors of different customers
Provide estimates on likely losses
Enable the design of optimal strategy to target profitable customers segments

Featured Items

SF Federal Reserve Bank - Evaluating Credit Risk Modeling

Contact BAXIA for a consultation

I thought this was interesting as Baxia was the largest bail out and it is not American.  They lend to Greece and the Eastern Block..1% Capital on Sovereign debt that was almost worthless in 2008!!!
Those were rated AAA.
Bi

[bimetalaupt]

The only remaining Bank with AAA rating is Texas Farm Credit Bank and they only sell Bonds.
the hyphened is not a negative sign...one less then AAA is AA+ (S&P&Fitch)

The Farm Credit Bank of Texas has been a leading source of credit and financial services for rural Americans for more than 95 years. Our long and successful history of financing agriculture and rural America is rooted in our cooperative structure and in other distinct business advantages:

We are owned by our customers; therefore, we operate in their best interests and share our earnings with them in the form of patronage. In 2011, we returned 38% of our net income to our customers.
We don't take deposits. Rather, we access the nation's money markets through the sale of AAA-rated Farm Credit bonds, which provides a reliable source of funding for rural Americans.
Our policies are set by our board members, who are Farm Credit customers elected by their fellow customers. This form of governance offers transparency to our owners and investors.

Read more about the Farm Credit Advantage