Use of Financial Services, Liabilities: Outstanding Deposits at Other Deposit Takers for Philippines
PHLFCLODDXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,121,765,796,124.47
Year-over-Year Change
84.21%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the outstanding deposits held at deposit-taking institutions other than central banks in the Philippines. It provides insights into the level of financial intermediation and the health of the broader 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 Use of Financial Services, Liabilities: Outstanding Deposits at Other Deposit Takers for Philippines metric tracks the volume of deposits held at banks, credit unions, and other deposit-taking institutions in the country. This indicator offers valuable information about the depth and reach of the Philippine financial sector.
Methodology
The data is collected by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Historical Context
Policymakers and analysts use this metric to assess the level of financial inclusion and the overall stability of the Philippine financial system.
Key Facts
- The Philippines has a large and growing banking sector.
- Outstanding deposits at other deposit takers reached a record high in 2021.
- Deposit growth has outpaced GDP growth in the Philippines in recent years.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total value of deposits held at banks, credit unions, and other deposit-taking institutions in the Philippines, excluding the central bank.
Q: Why is this trend relevant for users or analysts?
A: The level of outstanding deposits is a key indicator of financial intermediation and the overall health of the Philippine financial system. It provides insights into the depth of financial inclusion and the availability of credit in the economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the stability and depth of the Philippine financial sector, which is crucial for supporting economic growth and development.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Other Deposit Takers for Philippines (PHLFCLODDXDC), retrieved from FRED.