Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Congo
COGFCNODCHNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
83,546.77
Year-over-Year Change
5207.93%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the number of loan accounts for households at commercial banks in Congo. It provides insights into household 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: Number of Loan Accounts for Households at Commercial Banks for Congo' series tracks the total number of loan accounts held by households at commercial banks in Congo. This metric is used by economists and policymakers to assess financial inclusion and the depth of the banking sector in the country.
Methodology
The data is collected by the Central Bank of Congo through surveys of commercial banks operating in the country.
Historical Context
This trend is relevant for understanding financial market development and credit access for Congolese households.
Key Facts
- Congo is a low-income country in Central Africa.
- Only 27% of adults in Congo have a bank account.
- Access to credit remains limited for Congolese households.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of loan accounts held by households at commercial banks in Congo. It provides insights into financial inclusion and access to credit in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the depth and development of Congo's banking sector and the ability of households to access formal financial services like credit.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Congo through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess financial inclusion and design policies to improve household access to credit and other banking services.
Q: Are there update delays or limitations?
A: There may be delays in data reporting and potential limitations in coverage of all commercial banks in Congo.
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Financial System Deposits to GDP for Congo
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Number of Identified Exporters to Congo from Maryland
MDCOGA475SCEN
Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Congo (COGFCNODCHNUM), retrieved from FRED.