Use of Financial Services Deposit Accounts: Household Accounts at Commercial Banks for Turkey
TURFCAODCHNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
444,377,571.00
Year-over-Year Change
178.00%
Date Range
1/1/2004 - 1/1/2024
Summary
The 'Use of Financial Services Deposit Accounts: Household Accounts at Commercial Banks for Turkey' series measures the number of household deposit accounts held at commercial banks in Turkey. This trend provides insights into the overall usage and access to basic banking services by Turkish households.
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 number of deposit accounts held by households at commercial banks in Turkey. It serves as a proxy for household financial inclusion and access to the formal banking system, which is an important factor in economic development and financial stability.
Methodology
The data is collected by the Central Bank of the Republic of Turkey through surveys of commercial banks operating in the country.
Historical Context
Policymakers use this metric to assess the progress of financial inclusion initiatives and monitor the health of the Turkish banking sector.
Key Facts
- Turkey had over 98 million household deposit accounts at commercial banks as of the latest data.
- The number of household deposit accounts has grown by over 30% in the past decade.
- Financial inclusion is a key policy priority for the Turkish government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts held by households at commercial banks in Turkey. It provides insights into the level of financial inclusion and access to basic banking services.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the development of the Turkish banking sector and the progress of financial inclusion initiatives in the country.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of the Republic of Turkey through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to assess the progress of financial inclusion efforts and monitor the health of the Turkish banking system.
Q: Are there update delays or limitations?
A: The data is published with a delay, and there may be limitations in coverage or accuracy due to the survey-based methodology.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Household Accounts at Commercial Banks for Turkey (TURFCAODCHNUM), retrieved from FRED.