Deposits in State Commercial Member Banks in South Dakota
X08TDCBMBSSD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15.00
Year-over-Year Change
-6.25%
Date Range
1/1/1919 - 1/1/1941
Summary
This economic trend measures the total deposits held in state commercial member banks located in South Dakota. It is an important indicator of the financial health and lending capacity of the state's 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 South Dakota series tracks the total dollar value of deposits, including checking, savings, and time deposits, held by commercial banks that are members of the Federal Reserve System in the state of South Dakota. This metric provides insight into the scale and liquidity of the state's banking industry.
Methodology
The data is collected and reported by the U.S. Federal Reserve through its regular surveys of commercial banks.
Historical Context
Policymakers and analysts use this trend to monitor the lending potential and financial stability of South Dakota's banking system.
Key Facts
- South Dakota has over 70 state-chartered commercial banks.
- Bank deposits in South Dakota totaled $27.8 billion as of Q4 2022.
- South Dakota's banking industry has experienced steady deposit growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total dollar value of deposits, including checking, savings, and time deposits, held by commercial banks that are members of the Federal Reserve System in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the scale and liquidity of South Dakota's banking industry, which is an important indicator of the state's financial health and lending capacity.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Federal Reserve through its regular surveys of commercial banks.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor the lending potential and financial stability of South Dakota's banking system, which informs decisions around economic development, financial regulation, and monetary policy.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a delay of approximately 3 months.
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Citation
U.S. Federal Reserve, Deposits in State Commercial Member Banks in South Dakota (X08TDCBMBSSD), retrieved from FRED.