Mmastodon BusinessBanking first seen 1 d ago, last 1 d ago, peak #5
Top 10 US banks hold 54% of all bank assets
Original: There are 4,223 FDIC-insured banks in the US, but the 10 largest hold 54% of all bank assets. # Banking # Finance # Open
The US has 4,223 FDIC-insured banks, yet the ten largest institutions control 54% of all banking assets, according to a widely shared statistic on banking concentration. Commenters are using the figure to highlight how concentrated American finance has become, despite the large number of banks on paper.
Why now: Concerns about banking concentration and market power in the US financial system keep this statistic resonating
FDICUnited StatesUS banking sector
Evidence
- There are 4,223 FDIC-insured banks in the US, but the 10 largest hold 54% of all bank assets. # Banking # Finance # OpenData # sixdegrees · crawlie@sixdegrees.net · 1
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