Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Singapore
SGPFCLODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
265.86
Year-over-Year Change
93.36%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures outstanding deposits with commercial banks in Singapore, a key indicator of financial services utilization. It provides insights into the overall health and activity of the Singaporean banking sector.
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, Outstanding Deposits with Commercial Banks for Singapore data series tracks the total value of deposits held by commercial banks in Singapore. This metric serves as a proxy for the level of financial intermediation and the public's engagement with the formal banking system.
Methodology
The data is collected and reported by the Monetary Authority of Singapore.
Historical Context
This trend is closely monitored by policymakers, regulators, and financial analysts to assess the stability and growth of Singapore's banking industry.
Key Facts
- Singapore is a global financial hub.
- Commercial bank deposits account for over 100% of Singapore's GDP.
- Deposit growth is a leading indicator of economic expansion in Singapore.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposits held by commercial banks in Singapore, providing insights into the level of financial intermediation and public engagement with the formal banking system.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of the health and activity of Singapore's banking sector, which is a crucial component of the country's economy. It is closely monitored by policymakers, regulators, and financial analysts to assess the stability and growth of the banking industry.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Monetary Authority of Singapore, the country's central bank and financial regulatory authority.
Q: How is this trend used in economic policy?
A: Policymakers and regulators use this trend to monitor the overall state of the Singaporean banking system and make informed decisions regarding monetary policy, financial stability, and the regulation of the financial services industry.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis by the Monetary Authority of Singapore, with minimal update delays. However, there may be limitations in terms of the granularity or specific definitions used in the data collection process.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Singapore (SGPFCLODCGGDPPT), retrieved from FRED.