Use of Financial Services, Assets: Outstanding Loans at Commercial Banks for Singapore
SGPFCSODCXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,310,384,600,000.00
Year-over-Year Change
167.04%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the outstanding loans at commercial banks in Singapore, providing insight into the use of financial services and assets 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 Use of Financial Services, Assets: Outstanding Loans at Commercial Banks for Singapore trend tracks the total value of outstanding loans held by commercial banks in Singapore. This metric is used by economists and policymakers to analyze the level of financial intermediation and credit activity in the Singaporean economy.
Methodology
The data is collected and reported by the Monetary Authority of Singapore.
Historical Context
This trend is relevant for understanding the state of Singapore's credit markets and financial sector development.
Key Facts
- Singapore has one of the most developed financial centers in Asia.
- Outstanding commercial bank loans in Singapore totaled over $550 billion in 2021.
- The financial sector contributes around 13% of Singapore's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding loans held by commercial banks in Singapore, providing insight into the level of financial intermediation and credit activity in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the state of Singapore's credit markets and financial sector development, which are important indicators of the overall health of the Singaporean economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Monetary Authority of Singapore.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze the level of financial intermediation and credit activity in Singapore, which can inform decisions related to monetary policy, financial regulation, and economic development.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions by the Monetary Authority of Singapore.
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Citation
U.S. Federal Reserve, Use of Financial Services, Assets: Outstanding Loans at Commercial Banks for Singapore (SGPFCSODCXDC), retrieved from FRED.