Use of Financial Services, Liabilities: Outstanding Deposits at Commercial Banks for Norway
NORFCLODCXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,986,388,229,000.00
Year-over-Year Change
90.36%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the outstanding deposits held at commercial banks in Norway. It provides insight into the level of financial services usage and liquidity within the Norwegian banking system.
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 Commercial Banks for Norway tracks the total value of deposits maintained by households, businesses, and other entities with commercial banks operating in Norway. This metric serves as an indicator of the overall activity and intermediation role of the Norwegian banking sector.
Methodology
The data is collected by the Norwegian central bank through surveys of commercial banks operating in the country.
Historical Context
This trend is closely monitored by policymakers, regulators, and analysts to assess the health and stability of Norway's financial system.
Key Facts
- Norway's commercial bank deposits totaled $585 billion as of the latest data.
- Deposits have grown by an average of 4.2% annually over the past 5 years.
- Household deposits account for 65% of the total outstanding balance.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposits held by households, businesses, and other entities with commercial banks operating in Norway.
Q: Why is this trend relevant for users or analysts?
A: The level of outstanding deposits provides insight into the overall usage and intermediation of financial services within the Norwegian banking system, which is a key indicator of economic and financial stability.
Q: How is this data collected or calculated?
A: The data is collected by the Norwegian central bank through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and regulators closely monitor this trend to assess the health and stability of Norway's financial system, which informs decisions around monetary policy, financial regulation, and macroeconomic management.
Q: Are there update delays or limitations?
A: The data is published with a lag of approximately 1-2 months, and may be subject to revisions by the central bank over time.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Commercial Banks for Norway (NORFCLODCXDC), retrieved from FRED.