Total Deposits in All Banks in West Virginia
X08TDABWV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
351.00
Year-over-Year Change
143.75%
Date Range
1/1/1914 - 1/1/1941
Summary
The 'Total Deposits in All Banks in West Virginia' trend measures the total value of deposits held by all banks located in the state of West Virginia. It serves as an important indicator of the economic activity and financial health of 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 series tracks the aggregate amount of money deposited with banks operating in West Virginia. It is a key metric used by economists and policymakers to analyze the liquidity, lending capacity, and overall banking industry conditions within the state.
Methodology
The data is collected by the U.S. Federal Reserve through regular reporting from individual banks.
Historical Context
Policymakers and analysts utilize this metric to assess the strength of West Virginia's financial sector and make informed decisions about economic policy.
Key Facts
- West Virginia has over 80 FDIC-insured banks.
- Total deposits in West Virginia banks exceeded $40 billion in 2021.
- The state's banking industry has grown steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: The 'Total Deposits in All Banks in West Virginia' trend measures the aggregate value of deposits held by banks located in the state of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the liquidity, lending capacity, and overall health of West Virginia's banking industry, which is crucial for the state's economic performance.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Federal Reserve through regular reporting from individual banks operating in West Virginia.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength of West Virginia's financial sector and make informed decisions about economic policies that may impact the banking industry.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis with a short lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Total Deposits in All Banks in West Virginia (X08TDABWV), retrieved from FRED.