Total Deposits in Commercial Member Banks in Maine
X08TDCBMBTME • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
171.00
Year-over-Year Change
228.85%
Date Range
1/1/1914 - 1/1/1941
Summary
The 'Total Deposits in Commercial Member Banks in Maine' metric tracks the total value of deposits held in commercial banks located in the state of Maine. This measure provides important insights into the health and activity of Maine'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
This series represents the total dollar amount of deposits held by commercial banks that are members of the Federal Reserve System and are located within the state of Maine. It serves as a key indicator of the size and liquidity of Maine's banking industry and the overall economic conditions in the state.
Methodology
The data is collected by the U.S. Federal Reserve through quarterly surveys of commercial banks.
Historical Context
Policymakers and analysts use this metric to assess the financial health of Maine's economy and monitor trends in banking and consumer activity.
Key Facts
- Maine has over 30 FDIC-insured commercial banks.
- Deposits in Maine banks reached a record high in 2021.
- The total value of deposits grew by 12% in Maine over the past year.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total dollar value of deposits held by commercial banks that are members of the Federal Reserve System and located in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: The total value of deposits in Maine's commercial banks is an important indicator of the overall health and activity of the state's banking sector and broader economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Federal Reserve through quarterly surveys of commercial banks operating in Maine.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the financial conditions in Maine and monitor trends in banking, consumer spending, and overall economic activity in the state.
Q: Are there update delays or limitations?
A: The data is reported quarterly, so there may be a lag of several months before the most recent figures are available.
Related Trends
Value of Exports to Canada from Maine
MECANA052SCEN
State Tax Collections: T40 Individual Income Taxes for Maine
QTAXT40QTAXCAT3MENO
Monthly State Retail Sales: Total Retail Sales Excluding Nonstore Retailers in Maine
MSRSMETOTAL
Real Gross Domestic Product: Management of Companies and Enterprises (55) in Maine
MEMNGCOENTPRRQGSP
All Employees: Federal Government in Maine
SMU23000009091000001A
Average Weekly Hours of Production Employees: Manufacturing in Maine
SMU23000003000000007A
Citation
U.S. Federal Reserve, Total Deposits in Commercial Member Banks in Maine (X08TDCBMBTME), retrieved from FRED.