Use of Financial Services, Assets: Outstanding Loans at Deposit Taking Microfinance Institutions (MFIs) for Philippines
PHLFCSODMFXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,260,127,173.45
Year-over-Year Change
4737.68%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the outstanding loans held by deposit-taking microfinance institutions (MFIs) in the Philippines. It provides insight into the scale and accessibility of formal 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 outstanding loans at deposit-taking MFIs in the Philippines represent the volume of credit extended by these institutions to individuals and small businesses. This metric is used to gauge the depth of microfinance penetration and financial inclusion in the country.
Methodology
The data is collected and reported by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Historical Context
Policymakers and analysts use this trend to monitor the growth and development of the microfinance sector and its role in expanding access to financial services.
Key Facts
- MFIs in the Philippines held over $2.5 billion in outstanding loans as of 2021.
- The microfinance sector has grown rapidly in the Philippines, with over 5 million borrowers.
- Microfinance has been a key driver of financial inclusion, with 55% of adults in the Philippines now having a bank account.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding loans held by deposit-taking microfinance institutions (MFIs) in the Philippines. It provides insight into the scale and accessibility of formal financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the growth and development of the microfinance sector in the Philippines and its role in expanding access to financial services for individuals and small businesses.
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 trend to monitor the growth and development of the microfinance sector and its contribution to financial inclusion in the Philippines.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis by the Bangko Sentral ng Pilipinas, with typical update delays of a few months.
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Citation
U.S. Federal Reserve, Use of Financial Services, Assets: Outstanding Loans at Deposit Taking Microfinance Institutions (MFIs) for Philippines (PHLFCSODMFXDC), retrieved from FRED.