Total Deposits in Commercial Nonmember Banks in Maine
X08TDCBNMBTME • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
60.00
Year-over-Year Change
20.00%
Date Range
1/1/1914 - 1/1/1941
Summary
The total deposits in commercial nonmember banks in Maine measure the total funds held in deposit accounts at commercial banks that are not members of the Federal Reserve System in the state of Maine. This metric provides insights into the banking activity and economic conditions 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
This economic trend represents the total value of deposits held at commercial banks in Maine that are not members of the Federal Reserve System. It is an important indicator of banking sector health and consumer/business confidence in the state's economy.
Methodology
The data is collected by the Federal Reserve through its regular surveys of commercial banking institutions.
Historical Context
Policymakers and analysts use this metric to assess the strength of Maine's banking sector and broader economic conditions.
Key Facts
- Maine has over 30 commercial nonmember banks.
- Total deposits in these banks exceeded $20 billion in 2021.
- Deposits have grown steadily in Maine over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposits held at commercial banks in Maine that are not members of the Federal Reserve System.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the health and activity of Maine's banking sector, which is an important indicator of broader economic conditions in the state.
Q: How is this data collected or calculated?
A: The data is collected by the Federal Reserve through its regular surveys of commercial banking institutions.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength of Maine's banking sector and broader economic conditions, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published regularly by the Federal Reserve, but there may be some delays in reporting due to the survey process.
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Citation
U.S. Federal Reserve, Total Deposits in Commercial Nonmember Banks in Maine (X08TDCBNMBTME), retrieved from FRED.