Use of Financial Services, Liabilities: Outstanding Deposits at Commercial Banks for Canada
CANFCLODCXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,025,915,000,000.00
Year-over-Year Change
128.46%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the outstanding deposits held at commercial banks in Canada. It provides insight into the level of financial activity and liquidity in the Canadian economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Use of Financial Services, Liabilities: Outstanding Deposits at Commercial Banks for Canada tracks the total value of deposits held by customers at commercial banks operating in Canada. This metric reflects the overall level of financial intermediation and is used by economists to assess the health and activity of the Canadian banking system.
Methodology
The data is collected and reported by the Bank of Canada based on reports from domestic commercial banks.
Historical Context
Policymakers and analysts monitor this trend to gauge the availability of credit and liquidity in the Canadian financial markets.
Key Facts
- Canada's commercial banks held over $4 trillion in deposits as of 2022.
- Deposits have grown steadily over the past decade, reflecting economic expansion.
- Bank deposits are a key source of funding for commercial lending in Canada.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposits held by customers at commercial banks operating in Canada. It reflects the overall level of financial intermediation in the Canadian economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by policymakers, economists, and investors as an indicator of credit availability, liquidity, and the health of the Canadian banking system.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bank of Canada based on reports from domestic commercial banks.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to gauge the availability of credit and liquidity in the Canadian financial markets, which informs decisions on monetary policy and financial stability.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately two months, so there may be some delay in reflecting the latest economic conditions.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Commercial Banks for Canada (CANFCLODCXDC), retrieved from FRED.