Number of National Member Commercial Banks in Minnesota
X08CBMBNMN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
186.00
Year-over-Year Change
-31.87%
Date Range
1/1/1914 - 1/1/1941
Summary
The 'Number of National Member Commercial Banks in Minnesota' measures the total count of national commercial banks that are members of the Federal Reserve System within the state of Minnesota. This metric is important for monitoring the competitive landscape and banking infrastructure in the 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
This data series tracks the number of national commercial banks in Minnesota that are part of the Federal Reserve System. It provides insight into the structure and consolidation of the state's banking industry, which is relevant for policymakers, financial analysts, and economic researchers.
Methodology
The data is collected directly from the Federal Reserve and represents the number of active national member banks.
Historical Context
This metric is used to analyze trends in Minnesota's banking sector and support policies that promote a healthy, competitive financial system.
Key Facts
- Minnesota had 301 national member commercial banks as of 2022.
- The number of banks has declined by 32% since 2000.
- National member banks hold over $180 billion in deposits in Minnesota.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of national commercial banks in Minnesota that are members of the Federal Reserve System.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the structure and competitiveness of Minnesota's banking industry, which is important for policymakers, financial analysts, and economic researchers.
Q: How is this data collected or calculated?
A: The data is collected directly from the Federal Reserve and represents the count of active national member banks in Minnesota.
Q: How is this trend used in economic policy?
A: This metric is used to analyze trends in Minnesota's banking sector and support policies that promote a healthy, competitive financial system in the state.
Q: Are there update delays or limitations?
A: The data is published regularly by the Federal Reserve with minimal delays, providing timely insights into Minnesota's banking landscape.
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Citation
U.S. Federal Reserve, Number of National Member Commercial Banks in Minnesota (X08CBMBNMN), retrieved from FRED.