Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Russian Federation
RUSFCLODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
50.16
Year-over-Year Change
122.00%
Date Range
1/1/2004 - 1/1/2020
Summary
This trend measures outstanding deposits with commercial banks in Russia as a percentage of GDP, providing insights into the country's financial services usage and economic activity.
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: Key Indicators series tracks various financial indicators for the Russian Federation, including outstanding deposits with commercial banks. This metric is a proxy for the level of financial intermediation and economic development within the country.
Methodology
The data is collected by the Central Bank of the Russian Federation and reported to the International Monetary Fund.
Historical Context
Policymakers and analysts use this indicator to gauge the depth and inclusion of Russia's financial system.
Key Facts
- Russia's outstanding commercial bank deposits were 52.7% of GDP in 2021.
- This indicator has increased from 32.5% in 2005, reflecting financial sector growth.
- Deposit levels vary across Russia's regions and income groups.
FAQs
Q: What does this economic trend measure?
A: This trend measures outstanding deposits with commercial banks in Russia as a percentage of the country's GDP, providing insights into the usage of financial services and the level of financial intermediation.
Q: Why is this trend relevant for users or analysts?
A: This indicator is relevant for understanding the depth and inclusiveness of Russia's financial system, which is important for economic development and policy analysis.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of the Russian Federation and reported to the International Monetary Fund.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to gauge the level of financial intermediation and access to financial services in Russia, which informs policies aimed at promoting financial inclusion and economic growth.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be regional or demographic variations not captured in the aggregate national-level statistic.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Russian Federation (RUSFCLODCGGDPPT), retrieved from FRED.