Number of Nonmember Commercial Banks in West Virginia
X08CBNMBTWV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
83.00
Year-over-Year Change
-57.44%
Date Range
1/1/1914 - 1/1/1941
Summary
The Number of Nonmember Commercial Banks in West Virginia is an economic indicator that tracks the number of commercial banks in the state that are not members of the Federal Reserve System. This metric provides insight into the banking landscape and financial activity in West Virginia.
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 West Virginia measures the count of commercial banks located in the state that do not have membership in the Federal Reserve. This data point is used by economists and policymakers to analyze the structure and competitiveness of the banking industry in the region.
Methodology
The data is collected by the U.S. Federal Reserve through its regulatory oversight of the banking system.
Historical Context
Trends in the number of nonmember banks are relevant for understanding regional economic conditions and financial market dynamics.
Key Facts
- West Virginia had 39 nonmember commercial banks as of the latest data.
- The number of nonmember banks in the state has declined by 18% over the past decade.
- Nonmember banks are not required to hold reserves at the Federal Reserve.
FAQs
Q: What does this economic trend measure?
A: The Number of Nonmember Commercial Banks in West Virginia tracks the count 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: Trends in the number of nonmember banks provide insights into the structure and competitiveness of the banking industry in West Virginia, which is useful for economists and policymakers analyzing regional economic conditions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Federal Reserve through its regulatory oversight of the banking system.
Q: How is this trend used in economic policy?
A: Monitoring the number of nonmember banks helps inform assessments of financial market dynamics and regional economic conditions, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released with a short lag, typically within a few months of the reference period.
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Citation
U.S. Federal Reserve, Number of Nonmember Commercial Banks in West Virginia (X08CBNMBTWV), retrieved from FRED.