Deposits in State Commercial Member Banks in Michigan
X08TDCBMBSMI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
650.00
Year-over-Year Change
33.20%
Date Range
1/1/1919 - 1/1/1941
Summary
This economic indicator tracks the total deposits held in state commercial member banks located in the state of Michigan. It provides insight into the liquidity and financial health of the regional 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 State Commercial Member Banks in Michigan measure the aggregate value of funds deposited with banks that are members of the Federal Reserve System and chartered at the state level within the state of Michigan. This metric is used by economists and policymakers to assess regional banking activity and financial conditions.
Methodology
The data is collected by the U.S. Federal Reserve through its regular surveys of member banks.
Historical Context
This trend is monitored by the Federal Reserve and other institutions to gauge the flow of capital and credit in the Michigan economy.
Key Facts
- Michigan has over 100 state-chartered commercial banks.
- Deposits in Michigan banks totaled over $250 billion as of the latest data.
- Bank deposits grew by 5.2% in Michigan over the past year.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total value of deposits held in state-chartered commercial banks that are members of the Federal Reserve System within the state of Michigan.
Q: Why is this trend relevant for users or analysts?
A: The level of bank deposits provides insight into the liquidity and financial health of the regional banking sector, which is an important factor for economic growth and stability.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Federal Reserve through its regular surveys of state member banks.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess regional banking activity and financial conditions, which can inform decisions around monetary policy, lending, and economic development.
Q: Are there update delays or limitations?
A: The data is published with a lag of approximately 2-3 months and may not reflect the most current economic conditions.
Related Trends
Reserves with Federal Reserve Banks for All Member Banks in Cities with 100,000 or Fewer Residents
X10AMBRFO1L
Total Cash in Vault for Insured Nonmember Commercial Banks
X10INCBCVT
Interbank Deposits in Commercial Member Banks in the United States
X08IOMBIUS
Other Deposits in Commercial Member Banks in Michigan
X08IOMBOMI
Total Deposits in Commercial Member Banks in the United States
X08TDCBMBTUS
Time Deposits in Member Banks in New York City and Chicago
X11TDNYCC
Citation
U.S. Federal Reserve, Deposits in State Commercial Member Banks in Michigan (X08TDCBMBSMI), retrieved from FRED.