Total Deposits in Commercial Banks in Minnesota
X08TDCBTMN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,056.00
Year-over-Year Change
145.01%
Date Range
1/1/1914 - 1/1/1941
Summary
The Total Deposits in Commercial Banks in Minnesota series measures the total value of deposits held by commercial banks operating in the state of Minnesota. This metric is a key indicator of the health and liquidity 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 series tracks the total dollar amount of deposits, including checking, savings, and time deposits, at all FDIC-insured commercial banks headquartered in Minnesota. It provides insight into the overall size and activity of the state's banking industry.
Methodology
The data is collected and reported by the U.S. Federal Reserve through its regular surveys of commercial banks.
Historical Context
Policymakers and analysts use this metric to assess economic conditions and monitor trends in Minnesota's financial system.
Key Facts
- Minnesota has over 300 FDIC-insured commercial banks.
- Total deposits reached a record high of $252 billion in 2021.
- Deposits grew by 10% annually on average over the past decade.
FAQs
Q: What does this economic trend measure?
A: This series measures the total value of deposits held by commercial banks operating in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: The total deposits metric provides insight into the overall health and liquidity of Minnesota's banking sector, which is crucial for assessing the state's economic conditions.
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 commercial banks.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor trends in Minnesota's financial system and make informed decisions about economic policy.
Q: Are there update delays or limitations?
A: The data is updated quarterly, with a typical 2-3 month delay between the reference period and the release of the latest figures.
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Citation
U.S. Federal Reserve, Total Deposits in Commercial Banks in Minnesota (X08TDCBTMN), retrieved from FRED.