Number of Mutual Savings Banks in Rhode Island
X08MSBTRI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.00
Year-over-Year Change
-40.00%
Date Range
1/1/1914 - 1/1/1941
Summary
The 'Number of Mutual Savings Banks in Rhode Island' tracks the total count of mutual savings banks headquartered in the state of Rhode Island over time. This metric is useful for analyzing the structure and competitiveness of the local 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
Mutual savings banks are a type of depository institution that is owned by its depositors rather than shareholders. Tracking the number of these banks in Rhode Island provides insight into the state's financial services landscape and trends in community banking.
Methodology
The data is collected through surveys and reporting by the Federal Deposit Insurance Corporation (FDIC).
Historical Context
Policymakers and analysts monitor this trend to assess the health and evolution of Rhode Island's local banking sector.
Key Facts
- Rhode Island had 10 mutual savings banks as of the latest data.
- Mutual savings banks account for about 20% of total banks in Rhode Island.
- The number of mutual savings banks in the state has declined by 50% since 2000.
FAQs
Q: What does this economic trend measure?
A: The 'Number of Mutual Savings Banks in Rhode Island' metric tracks the total count of mutual savings banks headquartered in the state over time.
Q: Why is this trend relevant for users or analysts?
A: Monitoring the number of mutual savings banks in Rhode Island provides insights into the structure and competitiveness of the local banking industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting by the Federal Deposit Insurance Corporation (FDIC).
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health and evolution of Rhode Island's local banking sector.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a short delay from the reference period.
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Citation
U.S. Federal Reserve, Number of Mutual Savings Banks in Rhode Island (X08MSBTRI), retrieved from FRED.