Geographical Outreach: Number of Institutions, Other Depository Corporations, Other Deposit Takers for Dominican Republic
DOMFCIODDNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.00
Year-over-Year Change
-54.69%
Date Range
1/1/2004 - 1/1/2023
Summary
This trend measures the number of other deposit-taking institutions, such as credit unions and finance companies, operating in the Dominican Republic. It provides insights into the breadth and diversity of the country's financial system.
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 Geographical Outreach: Number of Institutions, Other Depository Corporations, Other Deposit Takers for Dominican Republic tracks the total number of non-bank financial institutions accepting deposits from the public in the Dominican Republic. This metric is used by economists and policymakers to assess the accessibility and inclusiveness of the nation's financial services.
Methodology
The data is collected by the Central Bank of the Dominican Republic.
Historical Context
This trend is relevant for monitoring the growth and development of the Dominican Republic's financial sector and evaluating policies aimed at expanding access to banking and credit.
Key Facts
- The number of other deposit-taking institutions in the Dominican Republic has grown from 43 in 2010 to 77 in 2022.
- Credit unions and finance companies account for the majority of other deposit-taking institutions in the country.
- Expanding financial access is a key policy priority for the Dominican government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of non-bank financial institutions, such as credit unions and finance companies, that are accepting deposits from the public in the Dominican Republic.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the breadth and diversity of the Dominican Republic's financial system, which is important for evaluating financial inclusion and the accessibility of banking and credit services.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of the Dominican Republic.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to monitor the growth and development of the Dominican Republic's financial sector and to evaluate policies aimed at expanding access to banking and credit.
Q: Are there update delays or limitations?
A: The data is published regularly by the Central Bank of the Dominican Republic, but there may be occasional delays in reporting.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Institutions, Other Depository Corporations, Other Deposit Takers for Dominican Republic (DOMFCIODDNUM), retrieved from FRED.