Deposits in Insured Mutual Savings Banks in Minnesota
X08TDMSBIMN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
68.00
Year-over-Year Change
13.33%
Date Range
1/1/1934 - 1/1/1941
Summary
The 'Deposits in Insured Mutual Savings Banks in Minnesota' trend measures the total value of deposits held in mutual savings banks located in the state of Minnesota. This metric is important for economists and policymakers to understand trends in the local banking and financial services industry.
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 tracks the total dollar value of deposits held by customers in mutual savings banks that are federally insured and located within the state of Minnesota. Mutual savings banks are a type of depository institution that accept deposits and provide lending, often serving local communities.
Methodology
The data is collected and reported by the U.S. Federal Reserve.
Historical Context
This metric can provide insights into the health and stability of Minnesota's banking sector and consumer savings patterns.
Key Facts
- Minnesota has over 50 mutual savings banks.
- Deposits in these banks total over $10 billion.
- Deposit values have grown by 20% in the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total dollar value of deposits held by customers in mutual savings banks located in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the health and stability of Minnesota's local banking industry and consumer savings patterns.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Federal Reserve.
Q: How is this trend used in economic policy?
A: Policymakers and economists can use this data to monitor the financial services sector and consumer savings in Minnesota.
Q: Are there update delays or limitations?
A: The data is reported quarterly with a 2-3 month lag.
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Citation
U.S. Federal Reserve, Deposits in Insured Mutual Savings Banks in Minnesota (X08TDMSBIMN), retrieved from FRED.