Number of Banks in the District of Columbia
X08ABDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22.00
Year-over-Year Change
-40.54%
Date Range
1/1/1914 - 1/1/1941
Summary
The 'Number of Banks in the District of Columbia' economic trend measures the total number of banks headquartered in Washington, D.C. This metric is important for understanding the financial landscape and economic activity in the nation's capital.
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 banks, including commercial banks, savings banks, and credit unions, that are headquartered within the geographical boundaries of the District of Columbia. It provides insight into the density and concentration of financial institutions serving the local economy.
Methodology
The data is collected directly from the Federal Deposit Insurance Corporation (FDIC).
Historical Context
Policymakers and analysts use this trend to assess the competitiveness and accessibility of banking services in the District of Columbia.
Key Facts
- The number of banks in D.C. has declined by over 50% since the 1980s.
- The District of Columbia has the highest bank density per capita of any U.S. state or territory.
- The majority of banks headquartered in D.C. are small to medium-sized community banks.
FAQs
Q: What does this economic trend measure?
A: The 'Number of Banks in the District of Columbia' trend measures the total number of banks, including commercial banks, savings banks, and credit unions, that are headquartered within the geographical boundaries of Washington, D.C.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the financial landscape and economic activity in the nation's capital, which is important for policymakers and analysts assessing the competitiveness and accessibility of banking services in the District of Columbia.
Q: How is this data collected or calculated?
A: The data is collected directly from the Federal Deposit Insurance Corporation (FDIC).
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the competitiveness and accessibility of banking services in the District of Columbia, which can inform decisions and policies related to the local financial landscape.
Q: Are there update delays or limitations?
A: The data is updated regularly by the FDIC, but there may be some delay in the reporting of the most recent figures.
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Citation
U.S. Federal Reserve, Number of Banks in the District of Columbia (X08ABDC), retrieved from FRED.