Use of Financial Services, Liabilities: Outstanding Deposits by Households at Commercial Banks for Dominican Republic
DOMFCLODCHXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,332,487,302,981.00
Year-over-Year Change
343.49%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits held by households at commercial banks in the Dominican Republic. It provides insights into the domestic banking and financial services usage patterns.
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, liabilities: outstanding deposits by households at commercial banks for the Dominican Republic represents the total value of deposits held by households in the country's commercial banking system. This metric is useful for analyzing household financial behavior and banking sector activity.
Methodology
The data is collected through surveys and reports from the Central Bank of the Dominican Republic.
Historical Context
This trend is relevant for policymakers and economists assessing the depth and utilization of the Dominican Republic's financial system.
Key Facts
- Dominican Republic's household deposits at commercial banks totaled $19.2 billion in 2021.
- Deposits have grown at an average annual rate of 8.4% over the past decade.
- The Dominican Republic has one of the highest rates of financial inclusion in Latin America.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposits held by households at commercial banks in the Dominican Republic.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into household financial behavior and the overall depth and utilization of the Dominican Republic's banking sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from the Central Bank of the Dominican Republic.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the development and inclusiveness of the Dominican Republic's financial system.
Q: Are there update delays or limitations?
A: The data is published with a slight delay, typically 1-2 months after the end of the reporting period.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits by Households at Commercial Banks for Dominican Republic (DOMFCLODCHXDC), retrieved from FRED.