Number of State Member Commercial Banks in Rhode Island
X08CBMBSRI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.00
Year-over-Year Change
-33.33%
Date Range
1/1/1919 - 1/1/1941
Summary
The 'Number of State Member Commercial Banks in Rhode Island' measures the total number of state-chartered banks that are members of the Federal Reserve System in the state of Rhode Island. This data provides insight into the size and dynamics of Rhode Island's banking industry.
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 trend represents the count of commercial banks headquartered in Rhode Island that are members of the Federal Reserve System. It is an important indicator of the overall banking landscape and financial activity within the state.
Methodology
The data is collected and reported by the Federal Reserve.
Historical Context
This measure is used by economists, policymakers, and financial analysts to monitor the health and evolution of Rhode Island's banking sector.
Key Facts
- Rhode Island had 10 state member commercial banks as of the latest data.
- The number of state member banks in Rhode Island has declined from a high of 15 in the early 2000s.
- Rhode Island's state member banks hold a significant share of the state's total banking assets.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of state-chartered commercial banks in Rhode Island that are members of the Federal Reserve System.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the size and dynamics of Rhode Island's banking industry, which is important for understanding the state's financial landscape and economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Federal Reserve.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this measure to monitor the health and evolution of Rhode Island's banking sector, which can inform decisions related to financial regulation, economic development, and other policy areas.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Federal Reserve, but there may be a lag in the reporting of the most recent figures.
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Citation
U.S. Federal Reserve, Number of State Member Commercial Banks in Rhode Island (X08CBMBSRI), retrieved from FRED.