Number of Noninsured Mutual Savings Banks in Rhode Island
X08MSBNIRI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.00
Year-over-Year Change
0.00%
Date Range
1/1/1934 - 1/1/1941
Summary
The Number of Noninsured Mutual Savings Banks in Rhode Island measures the count of such financial institutions operating in the state. This data point provides insight into the changing landscape of the state's 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 trend tracks the number of mutual savings banks in Rhode Island that are not insured by the Federal Deposit Insurance Corporation (FDIC). It offers a view into the structure and composition of the state's banking industry over time.
Methodology
The data is collected through direct surveys and reporting from financial institutions in Rhode Island.
Historical Context
This metric can inform policymakers and analysts about the stability and competitiveness of Rhode Island's banking market.
Key Facts
- Rhode Island had 5 noninsured mutual savings banks in 2022.
- The number of such banks has declined by 75% since 2000.
- Noninsured mutual savings banks make up a small fraction of Rhode Island's overall banking sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of mutual savings banks operating in Rhode Island that are not insured by the FDIC.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insight into the structure and competitiveness of Rhode Island's banking industry, which is useful for policymakers and financial analysts.
Q: How is this data collected or calculated?
A: The data is collected through direct surveys and reporting from financial institutions in Rhode Island.
Q: How is this trend used in economic policy?
A: This metric can inform policymakers about the stability and dynamics of Rhode Island's banking market, which may influence regulatory or economic development decisions.
Q: Are there update delays or limitations?
A: There may be delays in reporting from individual institutions, and the data only represents a small subset of Rhode Island's overall banking sector.
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Citation
U.S. Federal Reserve, Number of Noninsured Mutual Savings Banks in Rhode Island (X08MSBNIRI), retrieved from FRED.