Use of Financial Services, Liabilities: Outstanding Deposits at Other Deposit Takers for Dominican Republic
DOMFCLODDXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
262,594,270,154.00
Year-over-Year Change
854.78%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits held by Dominican Republic residents at other deposit-taking institutions, excluding the central bank. It provides insight into the usage of financial services 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 Use of Financial Services, Liabilities: Outstanding Deposits at Other Deposit Takers for the Dominican Republic is an important indicator of financial inclusion and the overall health of the country's banking system. It tracks the total value of deposits that Dominican individuals and businesses hold at institutions like commercial banks, outside of the central bank.
Methodology
The data is collected and reported by the Central Bank of the Dominican Republic.
Historical Context
This deposit trend is used by economists and policymakers to monitor financial sector development and evaluate the effectiveness of policies aimed at increasing access to banking services.
Key Facts
- Deposit value reached a high of $78.7 billion in 2021.
- Deposits make up over 40% of Dominican Republic's GDP.
- Deposit growth has averaged 8% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposits held by Dominican Republic residents at deposit-taking institutions other than the central bank, providing insight into financial services usage and liquidity in the economy.
Q: Why is this trend relevant for users or analysts?
A: This deposit trend is an important indicator of financial inclusion and the overall health of the Dominican banking system, which is crucial for economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of the Dominican Republic.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this deposit trend to monitor financial sector development and evaluate the effectiveness of policies aimed at increasing access to banking services.
Q: Are there update delays or limitations?
A: The deposit data is published regularly by the Central Bank of the Dominican Republic, with minimal update delays.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Other Deposit Takers for Dominican Republic (DOMFCLODDXDC), retrieved from FRED.