Use of Financial Services, Liabilities: Outstanding Deposits at Commercial Banks for Dominican Republic
DOMFCLODCXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,106,410,427,989.00
Year-over-Year Change
374.23%
Date Range
1/1/2004 - 1/1/2023
Summary
This trend measures the outstanding deposits held at commercial banks in the Dominican Republic. It provides insights into the level of financial services usage and liquidity in the Dominican economy.
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 outstanding deposits at commercial banks is a key indicator of the public's use of the financial system. It reflects the overall level of savings, transactions, and economic activity within the Dominican Republic.
Methodology
The data is collected directly from the Central Bank of the Dominican Republic.
Historical Context
This metric is used by economists and policymakers to monitor financial sector development and stability.
Key Facts
- The Dominican Republic has over 100 commercial banks.
- Bank deposits make up over 50% of the country's money supply.
- Deposits have grown by an average of 8% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding deposits held at commercial banks in the Dominican Republic. It reflects the public's usage of financial services and the overall liquidity in the economy.
Q: Why is this trend relevant for users or analysts?
A: The level of bank deposits is a key indicator of financial sector development and economic activity. It provides insights into consumer savings, transaction volumes, and the stability of the Dominican banking system.
Q: How is this data collected or calculated?
A: The data is collected directly from the Central Bank of the Dominican Republic.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to monitor financial sector health, gauge liquidity, and assess the impact of monetary and regulatory policies in the Dominican Republic.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month lag. There may be minor revisions to historical data over time.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Commercial Banks for Dominican Republic (DOMFCLODCXDC), retrieved from FRED.