The passage of the Reigle–Neal interstate banking legislation in 1994 spurred on the consolidation of the depository institutions sector. The total number of FDIC-insured commercial banks and savings associations in the U.S. declined from 17,900 in 1984 to 10,019 at the end of 1999:IIIQ.
Suggested citation: "Banking Conditions," Federal Reserve Bank of Cleveland, Economic Trends, no. 00-03, pp. 17, 03.01.2000.