Use of Financial Services, Liabilities: Outstanding Deposits at Credit Unions and Financial Cooperatives for Dominican Republic
DOMFCLODUXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
94,775,498,081.16
Year-over-Year Change
522.88%
Date Range
1/1/2004 - 1/1/2023
Summary
This trend measures the total outstanding deposits held at credit unions and financial cooperatives in the Dominican Republic. It is an important indicator of the country's financial services usage and access to banking.
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 Credit Unions and Financial Cooperatives for Dominican Republic series tracks the total value of deposits held by individuals and businesses at these types of financial institutions in the Dominican Republic. This provides insight into the scale and growth of the country's credit union and cooperative banking sector.
Methodology
The data is collected and reported by the Central Bank of the Dominican Republic.
Historical Context
This metric is used by economists and policymakers to assess financial inclusion and the development of the Dominican Republic's cooperative banking system.
Key Facts
- Credit unions and financial cooperatives held over $3 billion in deposits in the Dominican Republic as of the latest data.
- Deposit growth at these institutions has averaged 10% annually over the past decade.
- The cooperative banking sector accounts for over 20% of total banking system deposits in the Dominican Republic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding deposits held at credit unions and financial cooperatives in the Dominican Republic.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the scale and growth of the cooperative banking sector in the Dominican Republic, which is an important indicator of financial inclusion and access to banking services.
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 metric to assess the development and impact of the Dominican Republic's credit union and cooperative banking system.
Q: Are there update delays or limitations?
A: The data is published with a delay of several months by the Central Bank of the Dominican Republic.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Credit Unions and Financial Cooperatives for Dominican Republic (DOMFCLODUXDC), retrieved from FRED.