Number of Member Commercial Banks in Minnesota
X08CBMBTMN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
207.00
Year-over-Year Change
-24.18%
Date Range
1/1/1914 - 1/1/1941
Summary
The 'Number of Member Commercial Banks in Minnesota' trend measures the total number of FDIC-insured commercial banks headquartered in the state of Minnesota. This provides insight into the composition and dynamics of Minnesota'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 data series tracks the total number of member commercial banks in Minnesota, which includes national banks, state-chartered commercial banks, and trust companies. It is an important indicator of the competitive landscape and structural changes within Minnesota's banking industry.
Methodology
The data is collected and reported by the Federal Reserve System.
Historical Context
Policymakers and economists use this metric to analyze the health and evolution of Minnesota's banking sector.
Key Facts
- Minnesota had 365 member commercial banks as of 2022.
- The number of Minnesota banks has declined by over 50% since the 1990s.
- Community banks make up the majority of Minnesota's commercial banking sector.
FAQs
Q: What does this economic trend measure?
A: The 'Number of Member Commercial Banks in Minnesota' tracks the total count of FDIC-insured commercial banks headquartered in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the competitive landscape and structural changes within Minnesota's banking industry, which is important for policymakers, economists, and market participants.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Federal Reserve System.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze the health and evolution of Minnesota's banking sector and inform regulatory and economic decisions.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Federal Reserve, but there may be occasional delays in reporting.
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Citation
U.S. Federal Reserve, Number of Member Commercial Banks in Minnesota (X08CBMBTMN), retrieved from FRED.