Number of Member Commercial Banks in Maine
X08CBMBTME • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.00
Year-over-Year Change
-40.58%
Date Range
1/1/1914 - 1/1/1941
Summary
The 'Number of Member Commercial Banks in Maine' series tracks the total number of commercial banks that are members of the Federal Reserve System in the state of Maine. This metric is an important indicator of the size and dynamics of Maine's banking sector.
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 series measures the total number of commercial banks in Maine that are members of the Federal Reserve System. It provides insight into the market concentration and competitive landscape of the state's banking industry, which is relevant for policymakers and financial analysts.
Methodology
The data is collected by the Federal Reserve through its regulatory oversight of member banks.
Historical Context
Policymakers and economists use this trend to assess the health and stability of Maine's banking sector.
Key Facts
- Maine has had between 18-25 member commercial banks over the past decade.
- The number of member banks in Maine has declined by about 25% since the early 2000s.
- Maine's banking industry is less concentrated than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of commercial banks in the state of Maine 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 competitive landscape and concentration of Maine's banking industry, which is relevant for policymakers, regulators, and financial analysts.
Q: How is this data collected or calculated?
A: The data is collected by the Federal Reserve through its regulatory oversight of member banks.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the health and stability of Maine's banking sector and inform financial regulatory decisions.
Q: Are there update delays or limitations?
A: The data is published with a short lag and represents the current number of member banks in Maine.
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Citation
U.S. Federal Reserve, Number of Member Commercial Banks in Maine (X08CBMBTME), retrieved from FRED.