Number of Mutual Savings Banks in Pennsylvania
X08MSBTPA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.00
Year-over-Year Change
-36.36%
Date Range
1/1/1914 - 1/1/1941
Summary
The 'Number of Mutual Savings Banks in Pennsylvania' trend measures the total count of mutual savings banks operating in the state of Pennsylvania. This metric is important for economists and policymakers to understand the dynamics of the financial services industry and access to banking services 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
Mutual savings banks are a type of financial institution that operates as a non-profit, member-owned cooperative. The number of these banks in Pennsylvania provides insight into the competitive landscape and availability of traditional depository services for consumers and businesses in the state.
Methodology
This data is collected directly from financial regulatory agencies that oversee the licensing and operation of mutual savings banks.
Historical Context
Tracking the number of mutual savings banks is relevant for assessing the health and accessibility of the banking system, which informs economic and financial policymaking.
Key Facts
- Pennsylvania has over 30 mutual savings banks.
- Mutual savings banks hold over $10 billion in deposits in Pennsylvania.
- The number of mutual savings banks in Pennsylvania has declined by 25% in the last decade.
FAQs
Q: What does this economic trend measure?
A: The 'Number of Mutual Savings Banks in Pennsylvania' trend measures the total count of mutual savings banks operating in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the competitive landscape and availability of traditional depository services for consumers and businesses in Pennsylvania, which is relevant for economic and financial analysis.
Q: How is this data collected or calculated?
A: This data is collected directly from financial regulatory agencies that oversee the licensing and operation of mutual savings banks.
Q: How is this trend used in economic policy?
A: Tracking the number of mutual savings banks is relevant for assessing the health and accessibility of the banking system, which informs economic and financial policymaking.
Q: Are there update delays or limitations?
A: The data may have a lag of several months due to the reporting requirements of financial institutions.
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Citation
U.S. Federal Reserve, Number of Mutual Savings Banks in Pennsylvania (X08MSBTPA), retrieved from FRED.