As all banks are invested in derivatives. Which big bank is safer: Wachovia, Bank of America, or the PNC?

Question

In the event of a Depession like in the 30's. Where to keep your money? Don't have a matress anymore.

Answer 1

I think the premise of this question is strange.

I'm not sure why you think a bank investing in Derivatives would have any impact on where you deposit your money.
It doesn't work that way, the exposure to derivatives risk in any major bank is a miniscule portion of their portfolios, and would have virtually no impact on anything in a giant crash.

Beyond that, most derivatives positions are actually hedging positions, in place as a safe guard against such falls.

But then more to the point between your 3 choices, Bank of America is more than 10 times the size on PNC, More than double the size of Wachovia..

And you left off the biggest, Citigroup
I assume from your choices though that you're in the area of Pittsburgh?

But unless you have hundreds of thousands in deposits, you're not at risk anyway since you'd be covered by basic deposit insurance. And of course if you did have that much, it should be invested, not just deposited.

So if you just want the biggest banks, Citi, BAC, Chase are the largest American ones.

But the entire premise about Derivatives really doesn't make any sense.

Answer 2

If you keep the amount you have deposited in any one institution below the insured amount, you'll be okay whether or not the bank invests in derivatives or anything else risky.