Geographical Outreach: Number of Commercial Banks for Canada
CANFCIODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
75.00
Year-over-Year Change
-1.32%
Date Range
1/1/2004 - 1/1/2024
Summary
The Geographical Outreach: Number of Commercial Banks for Canada measures the total number of commercial banks operating in Canada. This metric is important for understanding the banking infrastructure and accessibility of financial services across the country.
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 number of commercial banks with brick-and-mortar locations in Canada. It provides insight into the geographical distribution and density of banking services, which is a key factor in financial inclusion and economic development.
Methodology
The data is collected and reported by the Bank of Canada.
Historical Context
Policymakers and regulators use this metric to evaluate financial market competition and access to banking services.
Key Facts
- Canada had 65 commercial banks as of the latest data.
- The number of commercial banks in Canada has declined by 18% over the past decade.
- The largest concentration of commercial banks is in Ontario, home to over 40% of the national total.
FAQs
Q: What does this economic trend measure?
A: The Geographical Outreach: Number of Commercial Banks for Canada measures the total number of commercial banks with physical branch locations operating in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the density and accessibility of banking services across Canada, which is an important factor for financial inclusion and economic development.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bank of Canada.
Q: How is this trend used in economic policy?
A: Policymakers and regulators use this metric to evaluate competition in the banking sector and ensure adequate access to financial services.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the Bank of Canada, but may be subject to occasional delays in reporting.
Related Trends
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MAM1A2CAM189N
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CANSLRTTO01GYSAM
Infra-Annual Labor Statistics: Employment Rate Female: From 15 to 64 Years for Canada
LREM64FECAM156S
Infra-Annual Labor Statistics: Inactivity Rate Total: From 25 to 54 Years for Canada
LRIN25TTCAA156N
Infra-Annual Labor Statistics: Inactivity Rate Female: From 15 to 64 Years for Canada
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Balance of Payments: Services: Expenditure for Canada
CANB6DBSE02STSAQ
Citation
U.S. Federal Reserve, Geographical Outreach: Number of Commercial Banks for Canada (CANFCIODCNUM), retrieved from FRED.