9 In 1950, banks' share of financial intermediation (the red line) was about 50 percent; it declined and then rose to about 48 percent in the mid1970s, then it trended down to about 33 percent at the turn of the century. From the fourth quarter of 2007 to the fourth quarter of 2008, this measure of total financial intermediation grew by about 5 percent.
At the same time, the banking system's share increased from 32.8 percent to 33.4 percent – a 0.6 percentage point increase in market share. Thrifts and insurance companies – represented by the blue solid and green dashed lines, respectively – had declines in their market shares in the fourth quarter of 2008.