Total Deposits in All Banks in Illinois
X08TDABIL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,639.00
Year-over-Year Change
289.43%
Date Range
1/1/1914 - 1/1/1941
Summary
The 'Total Deposits in All Banks in Illinois' series measures the total value of deposits held by all banking institutions located in the state of Illinois. This statistic is important for understanding overall banking activity and financial conditions 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
This economic indicator represents the total dollar value of deposits, including checking, savings, and time deposits, held by commercial banks, savings institutions, and credit unions operating in Illinois. It provides insight into the liquidity and lending capacity of the state's banking sector.
Methodology
The data is collected and aggregated by the U.S. Federal Reserve from regulatory filings of financial institutions.
Historical Context
The total deposits trend is used by policymakers, economists, and market analysts to assess the financial health and growth of Illinois' banking system and its broader economic conditions.
Key Facts
- Illinois has over 600 FDIC-insured banking institutions.
- Total bank deposits in Illinois exceeded $600 billion as of 2022.
- Deposits have grown steadily in Illinois over the past decade.
FAQs
Q: What does this economic trend measure?
A: The 'Total Deposits in All Banks in Illinois' series measures the total dollar value of deposits held by commercial banks, savings institutions, and credit unions operating in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the overall liquidity, lending capacity, and financial health of Illinois' banking sector, which is an important indicator of the state's broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and aggregated by the U.S. Federal Reserve from regulatory filings and reports submitted by financial institutions operating in Illinois.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts use the total deposits trend to assess the stability and growth of Illinois' banking system, which informs decisions around monetary policy, financial regulation, and economic development initiatives.
Q: Are there update delays or limitations?
A: The total deposits data is typically released with a lag of several months, and may not capture the most recent changes in the banking sector. Additionally, the data is limited to institutions located within Illinois and does not reflect deposits held by Illinois residents at out-of-state banks.
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Citation
U.S. Federal Reserve, Total Deposits in All Banks in Illinois (X08TDABIL), retrieved from FRED.