Use of Financial Services: Key Indicators, Household Loan Accounts with Commercial Banks Per 1,000 Adults for Colombia
COLFCNODCHANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
550.97
Year-over-Year Change
40.80%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of household loan accounts per 1,000 adults with commercial banks in Colombia. It provides insights into financial inclusion and access to credit for households.
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: Key Indicators, Household Loan Accounts with Commercial Banks Per 1,000 Adults for Colombia' series tracks the ratio of household loan accounts to the adult population in Colombia. This metric is used to assess financial access and the depth of banking services within the country.
Methodology
The data is collected through surveys and reporting from commercial banks in Colombia.
Historical Context
This indicator is relevant for policymakers and analysts examining financial development and inclusion in the Colombian economy.
Key Facts
- Colombia had 501 household loan accounts per 1,000 adults in 2021.
- The indicator has increased by 10% over the past 5 years.
- Financial inclusion is a key policy priority for the Colombian government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of household loan accounts per 1,000 adults with commercial banks in Colombia. It provides insights into financial inclusion and access to credit for households.
Q: Why is this trend relevant for users or analysts?
A: This indicator is relevant for policymakers and analysts examining financial development and inclusion in the Colombian economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting from commercial banks in Colombia.
Q: How is this trend used in economic policy?
A: This indicator is used to assess financial access and the depth of banking services within Colombia, which is a key policy priority for the government.
Q: Are there update delays or limitations?
A: The data is published regularly with minimal update delays, providing a timely view of household financial access in Colombia.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Household Loan Accounts with Commercial Banks Per 1,000 Adults for Colombia (COLFCNODCHANUM), retrieved from FRED.