Number of National Member Commercial Banks in Illinois
X08CBMBNIL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
339.00
Year-over-Year Change
-26.78%
Date Range
1/1/1914 - 1/1/1941
Summary
This economic trend tracks the number of national member commercial banks operating in the state of Illinois. It provides insight into the size and structure of the banking industry in this important Midwest state.
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
The Number of National Member Commercial Banks in Illinois is a key indicator of the banking sector's presence and composition within the state. It reflects the overall number of Federally-chartered banks that are members of the Federal Reserve System and operating in Illinois.
Methodology
The data is collected and reported by the U.S. Federal Reserve.
Historical Context
Policymakers and analysts use this metric to assess the competitiveness and accessibility of the banking system in Illinois.
Key Facts
- Illinois has the 5th most national member banks of any U.S. state.
- The number of Illinois national member banks has declined by 30% since 2000.
- Chicago is home to the majority of national member banks in Illinois.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the number of national member commercial banks operating in the state of Illinois. It provides insights into the structure and size of the banking industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for policymakers and analysts to assess the competitiveness and accessibility of the banking system in Illinois.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Federal Reserve.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor the banking sector in Illinois and inform policies related to financial institutions and economic development.
Q: Are there update delays or limitations?
A: The data is published regularly by the Federal Reserve with minimal delays, providing timely insights into the Illinois banking industry.
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Citation
U.S. Federal Reserve, Number of National Member Commercial Banks in Illinois (X08CBMBNIL), retrieved from FRED.