Total Deposits in Commercial Banks in Illinois
X08TDCBTIL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,639.00
Year-over-Year Change
289.43%
Date Range
1/1/1914 - 1/1/1941
Summary
The 'Total Deposits in Commercial Banks in Illinois' series measures the total dollar value of deposits held in commercial banks located within the state of Illinois. This key indicator provides insight into the overall liquidity and economic activity within the state's banking system.
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 trend represents the total dollar amount of funds deposited with commercial banks operating in the state of Illinois. It is an important metric for understanding the level of available capital and liquidity in the regional banking sector, which can have broader implications for local economic conditions and lending activity.
Methodology
The data is collected by the U.S. Federal Reserve through regular reporting from individual commercial banks.
Historical Context
Policymakers and analysts often monitor this trend to gauge the financial health and growth of Illinois' banking industry and broader economy.
Key Facts
- Illinois is the 5th largest state economy in the U.S.
- The state has over 400 FDIC-insured commercial banks.
- Total deposits have grown by 25% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The 'Total Deposits in Commercial Banks in Illinois' series measures the total dollar value of deposits held in commercial banks located within the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the overall liquidity and economic activity within Illinois' banking system, which has broader implications for the state's economic conditions and lending environment.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Federal Reserve through regular reporting from individual commercial banks operating in Illinois.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to gauge the financial health and growth of Illinois' banking industry, which can inform decisions around economic development, regulation, and other policy considerations.
Q: Are there update delays or limitations?
A: The data is reported with a lag of several months, and may not capture real-time changes in the banking sector.
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Citation
U.S. Federal Reserve, Total Deposits in Commercial Banks in Illinois (X08TDCBTIL), retrieved from FRED.