Use of Financial Services: Number of Depositors at Commercial Banks for Singapore
SGPFCDODCPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,100,950.00
Year-over-Year Change
66.41%
Date Range
1/1/2004 - 1/1/2024
Summary
This trend measures the number of depositors at commercial banks in Singapore, providing insights into the usage of 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 number of depositors at commercial banks is an important economic indicator that reflects the level of public engagement with the formal banking system. It serves as a proxy for financial inclusion and the overall health of the banking sector.
Methodology
The data is collected by the Monetary Authority of Singapore through surveys of commercial banks operating in the country.
Historical Context
This trend is closely monitored by policymakers and economists to assess the effectiveness of financial inclusion policies and the stability of the Singaporean banking system.
Key Facts
- Singapore has one of the highest rates of financial inclusion in the world.
- The number of depositors at commercial banks in Singapore has steadily increased over the past decade.
- Maintaining a large and diverse customer base is a key priority for Singaporean banks.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of depositors at commercial banks in Singapore, providing insights into the usage of financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: The number of depositors is an important indicator of financial inclusion and the overall health of the banking sector, which are of interest to policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected by the Monetary Authority of Singapore through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers and economists to assess the effectiveness of financial inclusion policies and the stability of the Singaporean banking system.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Monetary Authority of Singapore, with minimal delays, and provides a comprehensive view of the number of depositors at commercial banks in Singapore.
Related Trends
Value of Exports to Singapore from Ohio
OHSGPA052SCEN
Use of Financial Services: Key Indicators, Depositors with Commercial Banks Per 1000 Adults for Singapore
SGPFCDODCANUM
Number of Identified Exporters to Singapore from Michigan
MISGPA475SCEN
Value of Exports to Singapore from Wisconsin
WISGPA052SCEN
Inflation, consumer prices for Singapore
FPCPITOTLZGSGP
Consumer Price Index for Singapore
DDOE02SGA086NWDB
Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors at Commercial Banks for Singapore (SGPFCDODCPENUM), retrieved from FRED.