Number of Member Commercial Banks in Virginia
X08CBMBTVA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
180.00
Year-over-Year Change
35.34%
Date Range
1/1/1914 - 1/1/1941
Summary
The Number of Member Commercial Banks in Virginia metric tracks the total count of commercial banks that are members of the Federal Reserve System and located in the state of Virginia. This data point is important for understanding the banking landscape and competition within the state.
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
The Number of Member Commercial Banks in Virginia series represents the total number of commercial banks that are members of the Federal Reserve System and headquartered in the state of Virginia. This metric provides insight into the size and composition of the banking industry in the state and can be used by economists, policymakers, and financial analysts to assess market trends and competitive dynamics.
Methodology
The Federal Reserve collects this data directly from member banks operating in Virginia.
Historical Context
Policymakers and regulators use this metric to monitor the health and competitiveness of the Virginia banking sector.
Key Facts
- Virginia has the 12th largest banking industry in the United States.
- The number of member banks in Virginia has declined by 20% over the past decade.
- Community banks make up the majority of member banks in Virginia.
FAQs
Q: What does this economic trend measure?
A: The Number of Member Commercial Banks in Virginia metric tracks the total count of commercial banks that are members of the Federal Reserve System and located in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insight into the size and composition of the banking industry in Virginia, which is useful for economists, policymakers, and financial analysts assessing market trends and competitive dynamics.
Q: How is this data collected or calculated?
A: The Federal Reserve collects this data directly from member banks operating in Virginia.
Q: How is this trend used in economic policy?
A: Policymakers and regulators use this metric to monitor the health and competitiveness of the Virginia banking sector.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the Federal Reserve with minimal delay.
Related Trends
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Average Weekly Earnings of Production Employees: Manufacturing: Durable Goods in Virginia
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Coefficient for Transportation Carbon Dioxide Emissions, Aviation Gasoline for Virginia
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Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Virginia
VAPCEPCCLTH
Total Unemployed, as a Percent of the Civilian Labor Force for Virginia
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Transportation Carbon Dioxide Emissions, Residential for Virginia
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Citation
U.S. Federal Reserve, Number of Member Commercial Banks in Virginia (X08CBMBTVA), retrieved from FRED.