Number of Nonmember Commercial Banks in Illinois
X08CBNMBTIL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
406.00
Year-over-Year Change
-45.72%
Date Range
1/1/1914 - 1/1/1941
Summary
The Number of Nonmember Commercial Banks in Illinois tracks the total number of commercial banks located in the state that are not members of the Federal Reserve System. This metric provides insight into the structure and dynamics of Illinois' 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
The Number of Nonmember Commercial Banks in Illinois is a key indicator of the composition of the state's banking sector. Nonmember banks operate outside the Federal Reserve system, often serving more localized markets and customers. Tracking this data helps analysts and policymakers understand broader banking trends within Illinois.
Methodology
The data is collected by the Federal Reserve through its periodic surveys of commercial banking institutions.
Historical Context
Policymakers use this metric to assess the competitiveness and accessibility of the Illinois banking market.
Key Facts
- Illinois has over 250 nonmember commercial banks.
- Nonmember banks make up roughly 75% of all commercial banks in the state.
- The number of nonmember banks in Illinois has declined by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Number of Nonmember Commercial Banks in Illinois tracks the total number of commercial banks located in the state that are not members of the Federal Reserve System.
Q: Why is this trend relevant for users or analysts?
A: Tracking the number of nonmember commercial banks in Illinois provides insight into the structure and competitiveness of the state's banking industry, which is relevant for policymakers, economists, and financial analysts.
Q: How is this data collected or calculated?
A: The data is collected by the Federal Reserve through its periodic surveys of commercial banking institutions.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to assess the accessibility and competitiveness of the Illinois banking market, which informs regulatory and economic development decisions.
Q: Are there update delays or limitations?
A: The data is published periodically by the Federal Reserve, so there may be a several-month delay between the reference period and the data release.
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Deposits in Noninsured Commercial Nonmember Banks in Texas
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Citation
U.S. Federal Reserve, Number of Nonmember Commercial Banks in Illinois (X08CBNMBTIL), retrieved from FRED.