FDIC Releases June Deposit Data

http://www2.fdic.gov/sod/

According to June 30, 2006, data just released by the Federal Deposit Insurance Corp., deposits rose nationally 8.9 percent to $6.45 trillion, while the number of branches increased 2.9 percent to 94,741. There are 8,766 institutions.  

The FDIC's deposit market share figures are often criticized for being misleading because they don't take into account other aspects of modern retail banking, including sales of mutual funds, annuities, insurance, loans, derivatives and other sophisticated products.  Also, large banks often consolidate corporate or large commercial deposits from throughout their market into their headquarters branch or those of their biggest cities. As a result, cities with headquarters branches can see large inflows or losses that have nothing to do with their actual local deposit-gathering business.

 

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