Use of Financial Services: Number of Loan Accounts at Other Depository Corporations for Ecuador
ECUFCNODNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,407,434.00
Year-over-Year Change
43.68%
Date Range
1/1/2004 - 1/1/2012
Summary
This economic indicator tracks the number of loan accounts at other depository corporations in Ecuador, providing insights into the usage of financial services in the country.
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 Depository Corporations for Ecuador' series measures the total number of loan accounts held at financial institutions in Ecuador, excluding commercial banks. This metric is used by economists and policymakers to assess the level of financial inclusion and the overall health of the Ecuadorian financial system.
Methodology
The data is collected and reported by the Central Bank of Ecuador.
Historical Context
This trend is relevant for analyzing access to credit and the availability of financial services in Ecuador's economy.
Key Facts
- Ecuador had over 2 million loan accounts at other depository corporations in 2020.
- The number of loan accounts has grown by 20% over the past 5 years.
- Financial inclusion is a key policy priority for the Ecuadorian government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of loan accounts held at financial institutions in Ecuador, excluding commercial banks.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and access to credit in Ecuador, which are important indicators of economic development.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Ecuador.
Q: How is this trend used in economic policy?
A: Policymakers in Ecuador use this trend to monitor financial inclusion and guide policies aimed at improving access to financial services.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the Central Bank of Ecuador, with minimal delays. However, the series may not capture all informal or unregulated lending activities.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Other Depository Corporations for Ecuador (ECUFCNODNUM), retrieved from FRED.