Number of Member Commercial Banks in Pennsylvania
X08CBMBTPA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
776.00
Year-over-Year Change
-7.29%
Date Range
1/1/1914 - 1/1/1941
Summary
The 'Number of Member Commercial Banks in Pennsylvania' measures the total number of commercial banks located in the state of Pennsylvania that are members of the Federal Reserve System. This metric is important for economists and policymakers to track the health and structure of the banking industry within a specific region.
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 represents the count of commercial banks in Pennsylvania that are part of the Federal Reserve System. It provides insight into the composition and evolution of the banking landscape in the state, which is relevant for assessing financial conditions, economic activity, and the effectiveness of monetary policy.
Methodology
The data is collected and reported by the Federal Reserve.
Historical Context
Policymakers and analysts use this metric to monitor changes in the Pennsylvania banking sector and its implications for the broader economy.
Key Facts
- Pennsylvania has the 6th most commercial banks in the U.S.
- The number of member banks in Pennsylvania has declined by 25% since 2000.
- Philadelphia is the largest banking center in Pennsylvania.
FAQs
Q: What does this economic trend measure?
A: The 'Number of Member Commercial Banks in Pennsylvania' metric tracks the total count of commercial banks located in the state of Pennsylvania that are members of the Federal Reserve System.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the structure and health of the banking industry in Pennsylvania, which is important for assessing financial conditions, economic activity, and the effectiveness of monetary policy in the state.
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 changes in the Pennsylvania banking sector and understand the implications for the broader state economy.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis with minimal delay, providing timely information on the Pennsylvania commercial banking landscape.
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Citation
U.S. Federal Reserve, Number of Member Commercial Banks in Pennsylvania (X08CBMBTPA), retrieved from FRED.