Use of Financial Services Borrowers: Households Borrowing from Commercial Banks for Colombia
COLFCRODCHPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,872,068.00
Year-over-Year Change
94.15%
Date Range
1/1/2004 - 1/1/2023
Summary
The 'Use of Financial Services Borrowers: Households Borrowing from Commercial Banks for Colombia' metric tracks household borrowing from commercial banks in Colombia, providing insights into consumer credit trends and financial inclusion.
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
This economic indicator measures the level of household borrowing from commercial banks in Colombia, shedding light on consumer access to formal financial services and lending activity in the country's banking sector.
Methodology
The data is collected through surveys and reports from Colombia's central bank and financial regulators.
Historical Context
Policymakers and analysts use this metric to assess financial sector development and household financial behaviors.
Key Facts
- Colombia's household borrowing from commercial banks has grown steadily in recent years.
- Access to formal financial services remains a challenge for some Colombian households.
- Policymakers monitor this metric to promote financial inclusion and responsible lending.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the level of household borrowing from commercial banks in Colombia, providing insights into consumer access to formal financial services and lending activity in the country's banking sector.
Q: Why is this trend relevant for users or analysts?
A: Monitoring household borrowing from commercial banks is important for assessing financial sector development, consumer credit trends, and financial inclusion in Colombia.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from Colombia's central bank and financial regulators.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate financial sector development and household financial behaviors, informing policies aimed at promoting financial inclusion and responsible lending.
Q: Are there update delays or limitations?
A: There may be delays in data reporting and potential limitations in coverage or accuracy, as with any survey-based economic indicator.
Related Trends
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Energy for Colombia
COLCPGREN01IXOBQ
Use of Financial Services: Key Indicators, Depositors with Credit Unions and Financial Cooperatives Per 1000 Adults for Colombia
COLFCDODUANUM
Percentage of Foreign Banks Among Total Banks for Colombia
DDOI13COA156NWDB
Infra-Annual Labor Statistics: Employment Rate Male: 15 Years or over for Colombia
COLLREMTTMASTM
Number of Identified Exporters to Colombia from Maryland
MDCOLA475SCEN
Number of Identified Exporters to Colombia from Nevada
NVCOLA475SCEN
Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Households Borrowing from Commercial Banks for Colombia (COLFCRODCHPENUM), retrieved from FRED.