Geographical Outreach: Number of Institutions, Other Depository Corporations, Deposit Taking Microfinance Institutions (MFIs) for Philippines
PHLFCIODMFNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.00
Year-over-Year Change
-50.00%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the number of institutions, including other depository corporations and deposit-taking microfinance institutions (MFIs), that provide financial services in the Philippines. It is a key indicator of financial inclusion and access to banking 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 Geographical Outreach: Number of Institutions, Other Depository Corporations, Deposit Taking Microfinance Institutions (MFIs) for Philippines data series tracks the total number of financial institutions that offer deposit-taking services in the Philippines. This metric is used to assess the breadth of the financial system and evaluate policies aimed at expanding financial inclusion.
Methodology
The data is collected and reported by the Central Bank of the Philippines.
Historical Context
This trend is monitored by policymakers, economists, and financial analysts to gauge the development of the Philippine banking and microfinance sectors.
Key Facts
- The number of institutions providing deposit services in the Philippines has grown steadily over the past decade.
- Expanding financial inclusion is a key policy priority for the Philippine government.
- Microfinance institutions play an important role in reaching underserved populations in the country.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of financial institutions, including other depository corporations and deposit-taking microfinance institutions (MFIs), that provide banking and financial services in the Philippines.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing the breadth and accessibility of the financial system in the Philippines, which is a key factor in promoting financial inclusion and economic development.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of the Philippines.
Q: How is this trend used in economic policy?
A: Policymakers and regulators use this data to monitor the growth and outreach of the Philippine banking and microfinance sectors, and to inform policies aimed at expanding financial inclusion.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis by the Central Bank of the Philippines, but there may be some time lag in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Institutions, Other Depository Corporations, Deposit Taking Microfinance Institutions (MFIs) for Philippines (PHLFCIODMFNUM), retrieved from FRED.