Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Switzerland
CHEFCAODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,650.47
Year-over-Year Change
-45.03%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of deposit accounts per 1,000 adults held with commercial banks in Switzerland. It provides insights into the level of financial inclusion and use of basic banking 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: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Switzerland' metric tracks the prevalence of banking account ownership as a proxy for financial inclusion. It is an important indicator for policymakers to assess access to formal financial services and monitor financial development within the Swiss economy.
Methodology
The data is collected by the World Bank through household surveys and reported annually.
Historical Context
This trend is used by economists, financial regulators, and policymakers to benchmark Switzerland's financial inclusion against other countries and evaluate the accessibility of basic banking services.
Key Facts
- Switzerland had 1,274 deposit accounts per 1,000 adults in 2021.
- Financial inclusion in Switzerland is among the highest globally.
- Access to basic banking services is considered a key driver of economic progress.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts per 1,000 adults held with commercial banks in Switzerland. It provides insights into the level of financial inclusion and access to basic banking services in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing the accessibility and usage of formal financial services, which is a key driver of economic development and financial inclusion.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank through household surveys and reported annually.
Q: How is this trend used in economic policy?
A: Economists, financial regulators, and policymakers use this trend to benchmark Switzerland's financial inclusion against other countries and evaluate the accessibility of basic banking services.
Q: Are there update delays or limitations?
A: The data is reported annually, so there may be a delay of up to a year in the most recent figures.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Deposit Accounts with Commercial Banks Per 1000 Adults for Switzerland (CHEFCAODCANUM), retrieved from FRED.