Number of Insured Nonmember Commercial Banks in Illinois
X08CBNMBIIL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
391.00
Year-over-Year Change
-23.63%
Date Range
1/1/1934 - 1/1/1941
Summary
The Number of Insured Nonmember Commercial Banks in Illinois tracks the count of commercial banks in Illinois that are not members of the Federal Reserve System. This metric provides insight into the structure and health of the state'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 series measures the number of commercial banks located in Illinois that are not members of the Federal Reserve System. These non-member banks are still insured by the Federal Deposit Insurance Corporation (FDIC) but operate outside the Fed's regulatory framework. Monitoring this statistic helps economists and policymakers understand trends in Illinois' banking landscape.
Methodology
The data is collected and reported by the FDIC.
Historical Context
Changes in the number of insured non-member banks can indicate shifts in Illinois' financial sector, which is relevant for economic and regulatory policy.
Key Facts
- Illinois has the 5th most commercial banks of any U.S. state.
- The number of insured non-member banks in Illinois has declined by 25% since 2000.
- In 2021, there were 174 insured non-member commercial banks operating in Illinois.
FAQs
Q: What does this economic trend measure?
A: This series tracks the number of commercial banks located in Illinois that are not members of the Federal Reserve System. These non-member banks are still FDIC-insured but operate outside the Fed's regulatory framework.
Q: Why is this trend relevant for users or analysts?
A: Monitoring the number of insured non-member banks in Illinois provides insight into the structure and health of the state's banking industry, which is relevant for economic and regulatory policy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Federal Deposit Insurance Corporation (FDIC).
Q: How is this trend used in economic policy?
A: Changes in the number of insured non-member banks in Illinois can indicate shifts in the state's financial sector, which is relevant for policymakers and analysts focused on the state's economy.
Q: Are there update delays or limitations?
A: The FDIC publishes this data on a quarterly basis, so there may be a short delay before the most recent figures are available.
Related Trends
Reopenings of Suspended Banks Among State Member Banks
X14SMBRSB
Interbank Deposits in All Insured Commercial Banks in Chicago
X10AICBIDC
Total Increases in the Number of National Banks
X14NBINB
Time Deposits in All Insured Commercial Banks in Cities with 500,000 or More Residents
X10AICBTIDO5M
Deposits in Insured Commercial Nonmember Banks in Pennsylvania
X08TDCBNMBIPA
Admissions of Nonmember Banks into State Member Banks
X14SMBANB
Citation
U.S. Federal Reserve, Number of Insured Nonmember Commercial Banks in Illinois (X08CBNMBIIL), retrieved from FRED.