Geographical Outreach: Number of Institutions, Other Depository Corporations for Philippines
PHLFCIODNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
587.00
Year-over-Year Change
-33.22%
Date Range
1/1/2004 - 1/1/2017
Summary
This economic trend measures the number of other depository corporations in the Philippines, providing insights into the geographical outreach of the country's financial 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 Geographical Outreach: Number of Institutions, Other Depository Corporations for Philippines metric tracks the total number of financial institutions, such as banks and credit unions, that provide deposit-taking services in the Philippines. This data point is important for understanding the accessibility and inclusiveness of the Philippines' banking sector.
Methodology
The data is collected by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Historical Context
Policymakers and economists use this trend to assess the development and penetration of the Philippines' financial infrastructure.
Key Facts
- The number of other depository corporations in the Philippines was 613 as of the latest data.
- The Philippines has experienced steady growth in the number of financial institutions over the past decade.
- Expanding geographical outreach of the banking sector is a key priority for financial inclusion in the Philippines.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of other depository corporations, such as banks and credit unions, that provide deposit-taking services in the Philippines.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the accessibility and inclusiveness of the Philippines' banking sector, which is a key indicator of financial development and economic growth.
Q: How is this data collected or calculated?
A: The data is collected by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the progress of financial inclusion initiatives and the overall development of the Philippines' financial infrastructure.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Institutions, Other Depository Corporations for Philippines (PHLFCIODNUM), retrieved from FRED.