Total Deposits in All Banks in Utah
X08TDABUT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
178.00
Year-over-Year Change
182.54%
Date Range
1/1/1914 - 1/1/1941
Summary
The 'Total Deposits in All Banks in Utah' series measures the total value of deposits held by banks operating in the state of Utah. This metric is closely tracked by economists and policymakers to assess the health and growth of the state's banking sector and broader economy.
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 represents the aggregate value of checking accounts, savings accounts, and other deposit products held by consumers and businesses at banks licensed to operate in Utah. It provides insight into the overall liquidity and lending capacity of the state's banking system.
Methodology
The data is collected and reported by the U.S. Federal Reserve through its regular surveys of depository institutions.
Historical Context
Policymakers and analysts use this metric to monitor trends in Utah's financial conditions and make informed decisions about economic and regulatory policies.
Key Facts
- Utah has over 80 FDIC-insured banks and credit unions.
- Total bank deposits in Utah exceeded $100 billion as of 2022.
- Deposit growth has outpaced national averages in recent years.
FAQs
Q: What does this economic trend measure?
A: The 'Total Deposits in All Banks in Utah' series tracks the aggregate value of checking accounts, savings accounts, and other deposit products held by consumers and businesses at banks operating in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the overall liquidity and lending capacity of Utah's banking system, which is closely watched by policymakers, economists, and market participants to assess the health and growth of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Federal Reserve through its regular surveys of depository institutions.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor trends in Utah's financial conditions and make informed decisions about economic and regulatory policies that impact the state's banking sector and broader economy.
Q: Are there update delays or limitations?
A: The data is reported by the Federal Reserve on a regular basis, but may be subject to revision and may not reflect the most current conditions.
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Citation
U.S. Federal Reserve, Total Deposits in All Banks in Utah (X08TDABUT), retrieved from FRED.