Other Deposits in All Commercial Banks in Rhode Island
X08IOACBORI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
352.00
Year-over-Year Change
141.10%
Date Range
1/1/1914 - 1/1/1941
Summary
This economic trend measures the total value of other deposits, such as savings and time deposits, held by all commercial banks in the state of Rhode Island. It provides insight into the overall banking and financial activity in the state.
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 Other Deposits in All Commercial Banks in Rhode Island metric represents the total value of deposit accounts, excluding demand deposits, at commercial banks located in Rhode Island. This data point is useful for analyzing trends in consumer and business savings, as well as broader economic conditions in the state.
Methodology
The data is collected by the U.S. Federal Reserve through its regular surveys of commercial banks.
Historical Context
This metric is closely watched by economists, policymakers, and financial analysts to gauge the financial health and economic activity in Rhode Island.
Key Facts
- Rhode Island has over 30 commercial banks with branches in the state.
- Other deposits account for over 60% of total bank deposits in Rhode Island.
- The metric has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of savings, time, and other non-demand deposit accounts held at commercial banks located in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the savings and banking activity of consumers and businesses in Rhode Island, which is a key indicator of the state's overall economic health and financial conditions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Federal Reserve through its regular surveys and reporting requirements for commercial banks.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the financial landscape in Rhode Island, which can inform decisions around monetary policy, economic development initiatives, and other state-level interventions.
Q: Are there update delays or limitations?
A: The data is published with a lag of approximately 2-3 months, so it may not reflect the most current banking activity in the state. Additionally, the metric only covers commercial banks and does not include other financial institutions.
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Citation
U.S. Federal Reserve, Other Deposits in All Commercial Banks in Rhode Island (X08IOACBORI), retrieved from FRED.