Total Deposits in Commercial Banks in West Virginia
X08TDCBTWV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
351.00
Year-over-Year Change
147.18%
Date Range
1/1/1914 - 1/1/1941
Summary
The 'Total Deposits in Commercial Banks in West Virginia' metric measures the total value of deposits held in commercial banks located in the state of West Virginia. This statistic is an important indicator of economic activity and financial health in the region.
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 data series represents the total amount of money deposited in commercial banks operating within the state of West Virginia. It is a key measure of the overall size and liquidity of the banking sector, which is crucial for supporting economic growth and business investment.
Methodology
The data is collected and reported by the U.S. Federal Reserve through its comprehensive surveys of commercial banking institutions.
Historical Context
Policymakers and analysts use this metric to assess the financial conditions and credit availability within the West Virginia economy.
Key Facts
- West Virginia has over 100 commercial banks operating in the state.
- Total deposits have grown by 25% over the past decade.
- The banking sector accounts for 3.5% of West Virginia's GDP.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total value of deposits held in commercial banks located within the state of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: The total deposit level is a key indicator of the size, liquidity, and financial health of West Virginia's banking sector, which is crucial for supporting economic growth and business investment in the region.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Federal Reserve through comprehensive surveys of commercial banking institutions.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the financial conditions and credit availability within the West Virginia economy, which informs decision-making and policy interventions.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Total Deposits in Commercial Banks in West Virginia (X08TDCBTWV), retrieved from FRED.