Number of Insured Nonmember Commercial Banks in Utah
X08CBNMBIUT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.00
Year-over-Year Change
-7.14%
Date Range
1/1/1934 - 1/1/1941
Summary
The Number of Insured Nonmember Commercial Banks in Utah measures the total count of commercial banks in the state that are not members of the Federal Reserve System but are insured by the FDIC. This metric is a key indicator of the size and composition of Utah's 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
The Number of Insured Nonmember Commercial Banks in Utah represents financial institutions that provide basic banking services to businesses and individuals within the state. This data is used by economists and policymakers to analyze market competition, access to credit, and the overall health of Utah's banking sector.
Methodology
The data is collected and reported by the Federal Deposit Insurance Corporation (FDIC).
Historical Context
Trends in the number of insured nonmember banks can signal changes in financial regulation, market consolidation, or the broader economic environment.
Key Facts
- Utah has over 90 insured nonmember commercial banks.
- The number of insured nonmember banks has declined by 10% over the past decade.
- Nonmember banks account for about 40% of total commercial banks in Utah.
FAQs
Q: What does this economic trend measure?
A: The Number of Insured Nonmember Commercial Banks in Utah tracks the total count of financial institutions in the state that provide basic banking services but are not members of the Federal Reserve System.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the structure and competitiveness of Utah's banking industry, as well as access to credit and other financial services for businesses and consumers in the state.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Federal Deposit Insurance Corporation (FDIC).
Q: How is this trend used in economic policy?
A: Trends in the number of insured nonmember banks can inform policymakers and regulators about changes in financial sector competition, market consolidation, and the overall health of Utah's banking system.
Q: Are there update delays or limitations?
A: The FDIC publishes this data on a quarterly basis, so there may be a short delay before the most recent figures are available.
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Citation
U.S. Federal Reserve, Number of Insured Nonmember Commercial Banks in Utah (X08CBNMBIUT), retrieved from FRED.