Number of Nonmember Commercial Banks in Michigan
X08CBNMBTMI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
221.00
Year-over-Year Change
-52.78%
Date Range
1/1/1914 - 1/1/1941
Summary
The Number of Nonmember Commercial Banks in Michigan metric tracks the count of commercial banks in the state that are not members of the Federal Reserve System. This provides insights into the structure and competitiveness of Michigan'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
The Number of Nonmember Commercial Banks in Michigan series measures the total number of commercial banks located in Michigan that are not members of the Federal Reserve System. This data is used by economists and policymakers to analyze the composition and trends within Michigan's banking sector.
Methodology
The data is collected and reported by the U.S. Federal Reserve.
Historical Context
Trends in the number of nonmember banks are relevant for understanding competitive dynamics, regulatory impacts, and the evolving financial landscape within the Michigan economy.
Key Facts
- Michigan had 31 nonmember commercial banks as of the latest data.
- Nonmember banks account for about 20% of total commercial banks in Michigan.
- The number of nonmember banks in Michigan has declined by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Number of Nonmember Commercial Banks in Michigan metric tracks the total count of commercial banks located in Michigan that are not members of the Federal Reserve System.
Q: Why is this trend relevant for users or analysts?
A: Trends in the number of nonmember banks provide insights into the structure and competitiveness of Michigan's banking industry, which is relevant for economists, policymakers, and financial analysts.
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: Analysts and policymakers use this data to understand competitive dynamics, regulatory impacts, and the evolving financial landscape within the Michigan economy.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the Federal Reserve with minimal delays.
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Citation
U.S. Federal Reserve, Number of Nonmember Commercial Banks in Michigan (X08CBNMBTMI), retrieved from FRED.