The 16 safest banks in the world

REUTERS/Erik De Castro

Police take up positions behind anti-riot shields.

Europe's economy is still sluggish while China's market volatility continues. Greece has a cash shortage while Argentina carries a hefty debt burden.

It seems as if no bank is safe.

But the best place to store capital right now is in Europe, according to an annual report conducted by Global Finance.

"There have been some big changes in the Safest Banks ranking for 2015-reflecting the volatile markets within which many banks are now operating," said the publisher and editorial director of the publication, Joseph D. Giarraputo.

The finance magazine determined the annual rankings by studying "long-term foreign currency ratings" from Fitch, S&P, and Moody's as of Aug. 2015. And it created a list dominated by European banks.

Germany boasts the most banks on the list, with seven. Three American banks also made it to the top 50 - the highest being AgriBank, at 30th place.

The full report will be published in Global Finance's November issue.

Scroll down to see the list in ascending order.

Click the link to Global Financial for a full list of the 50 safest banks of 2015.