Number of National Member Commercial Banks in Connecticut
X08CBMBNCT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52.00
Year-over-Year Change
-31.58%
Date Range
1/1/1914 - 1/1/1941
Summary
The Number of National Member Commercial Banks in Connecticut tracks the total number of national banks with a physical presence in the state. It provides insights into the banking industry's geographic distribution and consolidation trends.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic indicator represents the count of national member commercial banks that are headquartered or have a branch location in the state of Connecticut. It serves as a measure of the state's banking industry structure and competitive landscape.
Methodology
The data is collected and reported by the U.S. Federal Reserve through its National Information Center database.
Historical Context
Policymakers and market analysts use this metric to monitor the concentration and dynamics of the Connecticut banking sector.
Key Facts
- Connecticut had 37 national member commercial banks as of the latest data.
- The number of banks in the state has declined by 26% over the past decade.
- The largest bank in Connecticut holds over 20% of the state's total deposits.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total number of national member commercial banks with a physical presence in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: The number of banks in a state provides insights into the structure and competitiveness of the local banking industry, which is important for policymakers and market participants.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Federal Reserve through its National Information Center database.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor the concentration and dynamics of the Connecticut banking sector, which can inform regulatory and market oversight decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture the most recent changes in the banking industry.
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Citation
U.S. Federal Reserve, Number of National Member Commercial Banks in Connecticut (X08CBMBNCT), retrieved from FRED.