Use of Financial Services Deposit Accounts: Accounts at Other Deposit Takers for Tonga
TONFCAODDNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,125.00
Year-over-Year Change
37.67%
Date Range
1/1/2007 - 1/1/2014
Summary
The 'Use of Financial Services Deposit Accounts: Accounts at Other Deposit Takers for Tonga' series measures the number of deposit accounts held at non-bank financial institutions in Tonga. This provides insight into the usage of alternative financial services beyond traditional banking.
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
This economic indicator tracks the prevalence of deposit accounts at other deposit-taking institutions in Tonga, such as credit unions and microfinance providers. It offers valuable data on financial inclusion and the diversification of the island nation's financial services sector.
Methodology
The data is collected through surveys of financial institutions in Tonga.
Historical Context
This metric is used by policymakers and economists to assess the development of Tonga's financial infrastructure and the accessibility of banking services.
Key Facts
- Tonga has a population of over 105,000 people.
- The number of deposit accounts at non-bank institutions in Tonga has grown in recent years.
- Improving financial inclusion is a key development goal for the Tongan government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts held at non-bank financial institutions in Tonga, such as credit unions and microfinance providers.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the diversification and accessibility of financial services in Tonga, which is important for assessing financial inclusion and the development of the nation's financial infrastructure.
Q: How is this data collected or calculated?
A: The data is collected through surveys of financial institutions in Tonga.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to evaluate the growth and reach of Tonga's financial services sector beyond traditional banking.
Q: Are there update delays or limitations?
A: The data may have delays in reporting due to the survey-based collection process, and it only covers deposit accounts at non-bank institutions in Tonga.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Other Deposit Takers for Tonga (TONFCAODDNUM), retrieved from FRED.