Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Nicaragua
NICFCAODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,143,716.00
Year-over-Year Change
95.27%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of deposit accounts at commercial banks in Nicaragua. It provides insights into the use and accessibility 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 Deposit Accounts: Accounts at Commercial Banks for Nicaragua tracks the total number of deposit accounts held at commercial banks in the country. This metric is used by economists and policymakers to assess financial inclusion and the overall development of the Nicaraguan banking system.
Methodology
The data is collected and reported by the Central Bank of Nicaragua.
Historical Context
This trend is relevant for analyzing financial market conditions and informing policies aimed at promoting financial access and stability.
Key Facts
- Nicaragua had over 4.1 million deposit accounts at commercial banks as of the latest data.
- The number of deposit accounts has grown by over 50% in the past decade.
- Expanding financial access is a key policy priority for the Nicaraguan government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held at commercial banks in Nicaragua. It provides insights into the use and accessibility of financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is used by economists and policymakers to assess financial inclusion and the overall development of the Nicaraguan banking system, which is crucial for economic growth and stability.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Nicaragua.
Q: How is this trend used in economic policy?
A: This trend is relevant for analyzing financial market conditions and informing policies aimed at promoting financial access and stability in Nicaragua.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedule and methodological decisions of the Central Bank of Nicaragua.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Nicaragua (NICFCAODCNUM), retrieved from FRED.