Use of Financial Services Deposit Accounts: Accounts at Other Depository Corporations for Congo
CODFCAODNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,861,221.00
Year-over-Year Change
289.95%
Date Range
1/1/2009 - 1/1/2014
Summary
This economic trend measures the use of financial services deposit accounts held at other depository corporations in the Republic of the Congo. It provides insight into financial inclusion and access to banking services in the country.
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 Deposit Accounts: Accounts at Other Depository Corporations for Congo series tracks the total number of deposit accounts held by individuals and businesses at financial institutions other than the central bank in the Republic of the Congo. This metric is used to assess the level of financial inclusion and access to formal banking services in the country.
Methodology
The data is collected by the World Bank through household and business surveys.
Historical Context
This indicator is used by policymakers and development organizations to monitor progress toward financial inclusion goals.
Key Facts
- The Republic of the Congo had 1.2 million deposit accounts in 2021.
- Deposit account ownership increased by 8% in Congo between 2017-2021.
- Only 16% of adults in Congo had a bank account in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held by individuals and businesses at financial institutions other than the central bank in the Republic of the Congo.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into financial inclusion and access to formal banking services in the Republic of the Congo, which is important for policymakers and development organizations monitoring progress toward financial access goals.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank through household and business surveys.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers and development organizations to monitor progress toward financial inclusion goals in the Republic of the Congo.
Q: Are there update delays or limitations?
A: The data may have delays of up to 2 years, and coverage is limited to the Republic of the Congo.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Other Depository Corporations for Congo (CODFCAODNUM), retrieved from FRED.