Number of Commercial Banks in Illinois
X08CBTIL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
834.00
Year-over-Year Change
-31.13%
Date Range
1/1/1914 - 1/1/1941
Summary
The 'Number of Commercial Banks in Illinois' series tracks the total number of commercial banks headquartered in the state of Illinois. This measure is important for understanding the breadth and dynamics of the state'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
This economic indicator provides a count of the commercial banks operating in Illinois. It is used by economists, policymakers, and analysts to assess the competitive landscape and structural changes within the state's banking sector.
Methodology
The data is collected and reported by the U.S. Federal Reserve.
Historical Context
The number of commercial banks in Illinois is relevant for evaluating regional economic conditions and banking market concentration.
Key Facts
- Illinois has the 5th highest number of commercial banks in the U.S.
- The number of Illinois commercial banks has declined by 20% since 2010.
- Commercial banks provide a range of financial services to individuals and businesses in Illinois.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total number of commercial banks headquartered in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: The number of commercial banks in Illinois is an important metric for understanding the competitive landscape and structural changes within the state's banking sector.
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: The number of commercial banks in Illinois is relevant for evaluating regional economic conditions and banking market concentration, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a short lag time and provides a comprehensive count of commercial banks in Illinois.
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Citation
U.S. Federal Reserve, Number of Commercial Banks in Illinois (X08CBTIL), retrieved from FRED.