Bank ratings for safety are one of the most important ratings of all banks and the reason is very simple. If a bank has this rating very bad you could lose really a good amount of money.

Something about the rating system

The Safe & Sound rating system measures the asset quality, capital adequacy, profitability and liquidity of each financial institution using a series of 22 tests. The scale is 1 to 5 - where 5 is the lowest rating and 1 means the best rating.

It's important for you to know your bank's situation to be able to make the right step if needed. Anyway, even the biggest banks can have some percentage declines, so don't take it too seriously.

When should you take it seriously?

If your bank recently experienced a very big percentage decline (over 12%) have a look at what rating companies say about its situation and bank ratings for safety. If it's rated 5 by more than one rating company you should consider spreading your money around and keep up to $100,000 in your account - this is the maximum amount of money that FDIC insures.