A wealth management firm in New York has identified a handful of US banks with the most liquid assets in the world.
US Bank Wealth Management (SBWM), a subsidiary of the US bank Barclays, has made the rankings, based on assets under management, since 2012.
They cover assets that are held by a bank’s retail customers, such as checking, savings and credit cards.
The list also includes money market funds, pension funds and insurance companies.
The wealth management group, which has more than 1,600 member firms in the US, has an annual turnover of $2.3bn.
Some of the banks on the list include Goldman Sachs, JPMorgan Chase, Morgan Stanley, Wells Fargo and Bank of America.
Here are some of the biggest US banks that have a huge portfolio of money: The banks on this list are not necessarily the best investments, and some have been hit by negative news stories in recent months.
But some of them have shown impressive turnaround from the financial crisis and are the best bet for the future.
HSBC Holdings Plc, which reported a $16.7bn loss in its second-quarter, said it would spend $400m this year on an investment in blockchain technology.
The bank’s chief executive, Jes Staley, told the Wall Street Journal that the firm’s focus would be to use the technology to help the bank meet its customers’ “customer need” for financial products and services.
Barclays said it had the most under management assets in 2014, with a portfolio of $1.5 trillion.
The UK’s Barclays Capital, which was spun off in January, reported an $8.5bn loss, but it is now valued at $13.5tn.
HSBC, the bank behind the global investment bank’s UK branch, has said it will focus on building up its international business, and the US branch is investing in new technology.
Citigroup has announced plans to invest in blockchain, in a bid to use blockchain to speed up payments and better manage customer accounts.
The firm said it was exploring “different ways to leverage the technologies” to help it improve its service and reduce friction in customer interactions.
Goldman Sachs is looking to invest up to $10bn in blockchain-based products and processes, and it has plans to open its first branch in the Philippines.
JP Morgan Chase, which is also based in the UK, said in February that it would invest $50m in blockchain in the next year.
In April, the firm said that it was considering launching a global unit.
It added that it wanted to explore “alternatives to traditional financial institutions”, such as issuing cryptocurrency, or issuing private, secure, open-source ledger systems.
Wells Fargo, which said in January that it had invested $15bn in technology, has since been able to secure a $1bn loan from the US government.
The investment comes as regulators around the world are moving towards using blockchain technology in the financial sector.
In June, the International Monetary Fund (IMF) said it planned to release its report on blockchain technology next year, which will help policymakers understand the impact of the technology on financial markets and its role in the global financial system.
It is expected to include recommendations on how to best use the distributed ledger technology.