Use of Financial Services, Liabilities: Outstanding Deposits by Households at Commercial Banks for Maldives
MDVFCLODCHXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24,003,535,000.00
Year-over-Year Change
225.67%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits held by households at commercial banks in Maldives. It provides insights into the level of household financial services usage and domestic deposit mobilization 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, Liabilities: Outstanding Deposits by Households at Commercial Banks for Maldives represents the total value of deposits held by individuals and families with commercial banks operating in the Maldivian financial system. This metric is a key indicator of household financial inclusion and the stability of the domestic banking sector.
Methodology
The data is collected through surveys and reporting from licensed commercial banks in Maldives.
Historical Context
Policymakers and analysts use this metric to gauge the depth of financial intermediation and mobilization of domestic savings.
Key Facts
- Maldives had $3.2 billion in household deposits as of 2020.
- Household deposits account for over 60% of total bank liabilities in Maldives.
- Deposit growth has averaged 8% annually over the past decade in Maldives.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposits held by households (individuals and families) with commercial banks operating in the Maldivian financial system.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of household financial inclusion and the stability of the domestic banking sector in Maldives.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting from licensed commercial banks in Maldives.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the depth of financial intermediation and mobilization of domestic savings in Maldives.
Q: Are there update delays or limitations?
A: The data is published with a few months' lag and may not capture all deposit-taking institutions in Maldives.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits by Households at Commercial Banks for Maldives (MDVFCLODCHXDC), retrieved from FRED.