How many banks are there in the United States? Revealing the structure of the financial system and recent hot topics
Recently, the dynamics of the U.S. banking industry have become the focus of global attention, especially the chain reaction caused by the collapse of Silicon Valley Bank (SVB). This article will combine the hot topics on the Internet in the past 10 days and use structured data to analyze the number, classification and current hot spots of U.S. banks.
1. Number of banks in the United States
According to the latest data from the Federal Reserve, the total number of U.S. banking institutions as of 2023 is as follows:
| Institution type | Quantity (home) |
|---|---|
| Commercial Banks | 4,135 |
| Savings Institutions | 724 |
| Credit Unions | 5,000+ |
| total | About 9,859+ |
2. Bank size distribution
The U.S. banking system is dominated by small and medium-sized banks, but assets are concentrated in leading institutions:
| Asset size | Proportion of number of banks | Proportion of total assets |
|---|---|---|
| Very large banks (assets > $250 billion) | 0.1% | 57% |
| Mid-sized banks ($1 billion-$250 billion) | 12% | 35% |
| Community banks (<$1 billion) | 87.9% | 8% |
3. Recent hot events
1.The aftermath of Silicon Valley Bank’s collapse: After SVB went bankrupt on March 10, the U.S. Federal Deposit Insurance Corporation (FDIC) took over, triggering market concerns about the liquidity of small and medium-sized banks. First Republic Bank's stock price plummeted 90% in a week and was eventually acquired by JPMorgan Chase.
2.Regulatory policy adjustments: The Federal Reserve is considering raising bank capital requirements, especially for institutions with more than $100 billion in assets. The following table shows examples of affected banks:
| Bank name | Asset size (100 million U.S. dollars) |
|---|---|
| Citizens Financial Group | 2,230 |
| Fifth Third Bancorp | 2,140 |
| KeyCorp | 1,870 |
3.Cryptocurrency banking crisis: Silvergate Bank and Signature Bank have closed one after another, leading to the contraction of financing channels in the encryption industry, and platforms such as Coinbase have turned to European banks for cooperation.
4. Summary of characteristics of the U.S. banking industry
1.Highly dispersed: Among the nearly 10,000 financial institutions, 90% are community banks, serving the local economy.
2.Regulatory classification: The Office of the Comptroller of the Currency (OCC), the Federal Reserve, and the FDIC have decentralized supervision, but in recent years there have been controversy over loopholes.
3.technological transformation: In 2023, leading banks such as JPMorgan Chase will announce additional AI investments, with annual investment expected to exceed $15 billion.
It can be seen from the above data that the U.S. banking industry is in a period of change. Although there are many banks, the structure is clearly differentiated. Recent risk events may accelerate industry consolidation, and the balance between "too big to fail" and "small but flexible" will become a key issue in the future.
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