Total Deposits in Commercial Banks in Rhode Island
X08TDCBTRI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
364.00
Year-over-Year Change
141.06%
Date Range
1/1/1914 - 1/1/1941
Summary
This economic trend measures the total deposits held in commercial banks located in the state of Rhode Island. It is an important indicator of the overall health and activity 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 total deposits in commercial banks in Rhode Island reflects the amount of money that individuals, businesses, and other entities have deposited with banks operating within the state. This metric provides insights into the liquidity, lending capacity, and economic conditions of the local banking system.
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 flow of capital and evaluate the financial stability of Rhode Island's economy.
Key Facts
- Rhode Island has over 20 commercial banks operating within the state.
- Total deposits in Rhode Island banks exceeded $25 billion as of the latest reporting period.
- The trend in total deposits is considered a leading indicator of economic activity in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposits held by commercial banks located in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the overall health and activity of Rhode Island's 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 by the U.S. Federal Reserve through regular surveys of commercial banks operating within Rhode Island.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor the flow of capital, evaluate financial stability, and make informed decisions about the state's economic policies.
Q: Are there update delays or limitations?
A: The data is typically reported with a short lag, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Total Deposits in Commercial Banks in Rhode Island (X08TDCBTRI), retrieved from FRED.