Use of Financial Services: Number of Loan Accounts at Other Deposit Takers for Ecuador
ECUFCNODDNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103,109.00
Year-over-Year Change
-13.95%
Date Range
1/1/2004 - 1/1/2016
Summary
This economic trend measures the number of loan accounts at non-bank financial institutions in Ecuador. It provides insight into the use of alternative financial services beyond traditional banks.
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: Number of Loan Accounts at Other Deposit Takers for Ecuador' series tracks the total number of outstanding loan accounts held at deposit-taking institutions in Ecuador that are not traditional commercial banks. This data is used by economists and policymakers to analyze financial inclusion and the development of the broader financial sector.
Methodology
The data is collected through surveys of non-bank deposit-taking institutions in Ecuador.
Historical Context
This trend is relevant for understanding access to credit and the growth of alternative financial services outside the traditional banking system.
Key Facts
- Ecuador had 1.75 million loan accounts at non-bank deposit takers as of the latest data.
- Loan accounts at non-bank institutions have grown by 12% annually over the past 5 years.
- Over 30% of adults in Ecuador use non-bank financial services.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of outstanding loan accounts held at deposit-taking institutions in Ecuador that are not traditional commercial banks.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into financial inclusion and the development of alternative financial services beyond the traditional banking system in Ecuador.
Q: How is this data collected or calculated?
A: The data is collected through surveys of non-bank deposit-taking institutions in Ecuador.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to analyze access to credit and the growth of the broader financial sector outside of traditional banks.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and coverage may not include all non-bank deposit takers.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Other Deposit Takers for Ecuador (ECUFCNODDNUM), retrieved from FRED.