Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Solomon Islands
SLBFCAODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
234,899.00
Year-over-Year Change
155.21%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of deposit accounts at commercial banks in the Solomon Islands. It provides insights into the use and access to 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 Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Solomon Islands metric tracks the total number of deposit accounts held at commercial banks in the Solomon Islands. This data point is used by economists and policymakers to assess financial inclusion and the level of access to formal banking services in the country.
Methodology
The data is collected and reported by the Central Bank of Solomon Islands.
Historical Context
This trend is relevant for understanding the development of the financial sector and access to banking services in the Solomon Islands.
Key Facts
- The number of deposit accounts has increased from 110,000 in 2010 to over 220,000 in 2020.
- Commercial banks hold over 90% of all deposit accounts in the Solomon Islands financial system.
- Increasing financial inclusion is a key policy priority for the government of the Solomon Islands.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held at commercial banks in the Solomon Islands. It provides insights into the level of access and usage of formal financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding financial inclusion and the development of the banking sector in the Solomon Islands. It helps economists and policymakers assess progress towards increasing access to formal financial services.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Solomon Islands.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers and institutions to monitor the growth of the financial sector and progress towards financial inclusion goals in the Solomon Islands.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the Central Bank of Solomon Islands, but there may be some delays in reporting compared to real-time activity.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Solomon Islands (SLBFCAODCNUM), retrieved from FRED.