Use of Financial Services: Number of Depositors at Other Financial Corporations for Colombia
COLFCDOFPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
743,833.00
Year-over-Year Change
186.60%
Date Range
1/1/2009 - 1/1/2014
Summary
This economic trend measures the number of depositors at other financial corporations in Colombia. It provides insight into the breadth of 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: Number of Depositors at Other Financial Corporations for Colombia' metric tracks the total number of deposit accounts held at non-bank financial institutions in Colombia. This helps economists and policymakers assess financial sector development and financial inclusion levels.
Methodology
The data is collected by the Central Bank of Colombia through surveys of financial institutions.
Historical Context
This trend is relevant for understanding access to and usage of formal financial services in the Colombian economy.
Key Facts
- Colombia has a population of over 50 million people.
- The number of depositors at non-bank financial institutions in Colombia has grown steadily in recent decades.
- Financial inclusion is a key development goal for the Colombian government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held at non-bank financial institutions in Colombia, providing insight into financial inclusion and access to banking services.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the breadth of financial sector development and access to formal banking services in the Colombian economy, which is relevant for economists, policymakers, and investors.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Colombia through surveys of financial institutions operating in the country.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers and economists to assess progress towards financial inclusion goals and to inform policies aimed at expanding access to banking and other financial services.
Q: Are there update delays or limitations?
A: The data is published with a short lag, typically a few months after the end of the reporting period. There may be some limitations in terms of coverage of smaller or informal financial institutions.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors at Other Financial Corporations for Colombia (COLFCDOFPENUM), retrieved from FRED.