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Banking Industry Consolidation and Market Structure: Impact of the Financial Crisis and Recession

The number of U.S. commercial banks and savings institutions declined by 12 percent between December 31, 2006, and December 31, 2010, continuing a consolidation trend begun in the mid- 1980s. Banking industry consolidation has been marked by sharply higher shares of deposits held by the largest banks"”the 10 largest banks now hold nearly 50 percent of total U.S. deposits.