Number of State Member Commercial Banks in Massachusetts
X08CBMBSMA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.00
Year-over-Year Change
7.41%
Date Range
1/1/1919 - 1/1/1941
Summary
The Number of State Member Commercial Banks in Massachusetts tracks the count of state-chartered banks that are members of the Federal Reserve System within the state. This metric provides insights into the health and dynamics of the local banking 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 represents the total number of state-chartered commercial banks located in Massachusetts that are members of the Federal Reserve System. It serves as an indicator of the size and structure of the state's banking sector, which is a key component of the regional economy.
Methodology
The data is collected and reported by the Federal Reserve based on membership and registration records.
Historical Context
Policymakers and economists monitor this trend to assess the competitiveness and accessibility of banking services in Massachusetts.
Key Facts
- Massachusetts has the 6th largest state economy in the U.S.
- The banking industry accounts for over 7% of the state's GDP.
- The number of state member banks has declined by 25% since 2000.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the total number of state-chartered commercial banks in Massachusetts that are members of the Federal Reserve System.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the structure and competitiveness of the banking industry in Massachusetts, which is a key component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Federal Reserve based on their records of member banks.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the accessibility and health of banking services in Massachusetts.
Q: Are there update delays or limitations?
A: The data is published with a short lag, typically 1-2 months after the end of the reporting period.
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Citation
U.S. Federal Reserve, Number of State Member Commercial Banks in Massachusetts (X08CBMBSMA), retrieved from FRED.