Number of Nonmember Commercial Banks in Massachusetts
X08CBNMBTMA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
43.00
Year-over-Year Change
-39.44%
Date Range
1/1/1914 - 1/1/1941
Summary
The 'Number of Nonmember Commercial Banks in Massachusetts' measures the total count of commercial banks located in Massachusetts that are not members of the Federal Reserve System. This metric provides insight into the structure and composition 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 tracks the number of nonmember commercial banks in Massachusetts, which are banks that have chosen not to join the Federal Reserve System. This data offers analysts a view into the decentralization and diversity of the state's banking landscape.
Methodology
The Federal Reserve collects this data through mandatory reporting by commercial banks in Massachusetts.
Historical Context
Policymakers and economists use this metric to assess the competitiveness and health of the Massachusetts banking sector.
Key Facts
- Massachusetts had 58 nonmember commercial banks as of the latest data.
- Nonmember banks make up about 40% of all commercial banks in Massachusetts.
- The number of nonmember banks in the state has declined by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of commercial banks located in Massachusetts that are not members of the Federal Reserve System.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the structure and competitiveness of the Massachusetts banking industry, which is useful for policymakers, economists, and investors analyzing the state's financial landscape.
Q: How is this data collected or calculated?
A: The Federal Reserve collects this data through mandatory reporting by commercial banks in Massachusetts.
Q: How is this trend used in economic policy?
A: Policymakers and regulators use this metric to assess the diversity and health of the Massachusetts banking sector, which informs decisions around financial oversight and economic development.
Q: Are there update delays or limitations?
A: This data is published by the Federal Reserve on a regular basis, with updates typically available within a few months of the reporting period.
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Citation
U.S. Federal Reserve, Number of Nonmember Commercial Banks in Massachusetts (X08CBNMBTMA), retrieved from FRED.