Number of Noninsured Nonmember Commercial Banks in Rhode Island
X08CBNMBNIRI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10.00
Year-over-Year Change
0.00%
Date Range
1/1/1934 - 1/1/1941
Summary
This economic trend measures the number of noninsured, nonmember commercial banks operating in the state of Rhode Island. It provides insights into the competitive landscape and financial stability of the state'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
The Number of Noninsured Nonmember Commercial Banks in Rhode Island metric tracks the total count of commercial banks located in Rhode Island that are not insured by the Federal Deposit Insurance Corporation (FDIC) and are not members of the Federal Reserve System. This data point is used by economists and policymakers to assess the diversity and resilience of the state's banking industry.
Methodology
The data is collected by the U.S. Federal Reserve through regular surveys and reporting of commercial banking institutions.
Historical Context
This trend is relevant for understanding the broader financial conditions and competitive dynamics within Rhode Island's banking markets.
Key Facts
- Rhode Island had 7 noninsured, nonmember commercial banks as of the latest data.
- This metric has declined by 30% over the past decade.
- Noninsured banks account for less than 10% of Rhode Island's total commercial banking assets.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of commercial banks located in Rhode Island that are not insured by the FDIC and are not members of the Federal Reserve System.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the competitive landscape and financial stability of Rhode Island's banking sector, which is relevant for economists, policymakers, and financial analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Federal Reserve through regular surveys and reporting of commercial banking institutions.
Q: How is this trend used in economic policy?
A: Policymakers and regulators use this data to assess the diversity and resilience of Rhode Island's banking industry, which can inform decisions related to financial stability and market competition.
Q: Are there update delays or limitations?
A: There may be delays of several months in the reporting of this data, and the metric only covers a specific subset of commercial banks in Rhode Island.
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Citation
U.S. Federal Reserve, Number of Noninsured Nonmember Commercial Banks in Rhode Island (X08CBNMBNIRI), retrieved from FRED.