Number of State Member Commercial Banks in South Carolina
X08CBMBSSC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.00
Year-over-Year Change
-57.14%
Date Range
1/1/1919 - 1/1/1941
Summary
The Number of State Member Commercial Banks in South Carolina tracks the total number of state-chartered banks that are members of the Federal Reserve System in that state. This metric is important for economists and policymakers to understand the structure and health of the regional banking sector.
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 economic indicator represents the count of state-chartered commercial banks located in South Carolina that have chosen to become members of the Federal Reserve. Membership in the Federal Reserve system subjects these banks to additional oversight and regulations, and provides them with access to the Fed's services and monetary policy tools.
Methodology
The data is collected and reported by the Federal Reserve.
Historical Context
The number of state member banks is relevant for monitoring regional banking market conditions and the implementation of monetary and regulatory policies.
Key Facts
- There were 58 state member banks in South Carolina as of 2022.
- State member banks make up about a quarter of all commercial banks in the state.
- The number of state member banks has declined by 42% since 2000.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total number of state-chartered commercial banks in South Carolina that are members of the Federal Reserve System.
Q: Why is this trend relevant for users or analysts?
A: The number of state member banks provides insight into the structure and health of the regional banking sector, which is important for economic analysis and policy decisions.
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 analysts use this metric to monitor regional banking market conditions and the impacts of monetary and regulatory policies.
Q: Are there update delays or limitations?
A: The data is reported on a monthly basis with minimal delays.
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Citation
U.S. Federal Reserve, Number of State Member Commercial Banks in South Carolina (X08CBMBSSC), retrieved from FRED.