Deposits in National Commercial Member Banks in Illinois
X08TDCBMBNIL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,234.00
Year-over-Year Change
506.59%
Date Range
1/1/1914 - 1/1/1941
Summary
This economic indicator tracks the total deposits held in national commercial member banks located in the state of Illinois. It serves as a barometer for the financial health and economic activity within the Illinois banking sector.
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 Deposits in National Commercial Member Banks in Illinois is a key measure of the liquidity and deposit-taking capacity of the Illinois banking system. It reflects the total funds held in checking, savings, and time deposit accounts at national banks across the state, providing insights into consumer and business confidence.
Methodology
The data is collected directly from national commercial banks in Illinois and aggregated by the U.S. Federal Reserve.
Historical Context
This trend is widely monitored by economists, policymakers, and investors to assess the broader economic conditions and financial stability in Illinois.
Key Facts
- Illinois has over 300 national commercial member banks.
- Total deposits exceeded $400 billion as of the latest data.
- Deposits have grown by over 20% in the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Deposits in National Commercial Member Banks in Illinois tracks the total dollar value of deposits held in checking, savings, and time deposit accounts at national banks located in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the liquidity, lending capacity, and overall financial health of the Illinois banking sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected directly from national commercial banks in Illinois and aggregated by the U.S. Federal Reserve.
Q: How is this trend used in economic policy?
A: Policymakers, regulators, and economists monitor this trend to assess the stability of the Illinois financial system and make informed decisions about monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The data is published with a lag of approximately 2-3 months and may not capture the most recent short-term fluctuations in deposits.
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Citation
U.S. Federal Reserve, Deposits in National Commercial Member Banks in Illinois (X08TDCBMBNIL), retrieved from FRED.