Use of Financial Services: Number of Loan Accounts at Commercial Banks for Comoros
COMFCNODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,425.00
Year-over-Year Change
230.44%
Date Range
1/1/2010 - 1/1/2023
Summary
This trend measures the number of loan accounts at commercial banks in Comoros. It provides insight into the level of financial services usage and access 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 number of loan accounts at commercial banks is an indicator of the use of financial services in Comoros. It reflects the extent to which individuals and businesses are able to obtain credit and financing from the formal banking sector.
Methodology
The data is collected directly from commercial banks operating in Comoros.
Historical Context
This metric is useful for policymakers and economists analyzing financial inclusion and credit market development in the country.
Key Facts
- Comoros is a small island nation in the Indian Ocean.
- The banking sector in Comoros is relatively underdeveloped.
- Access to formal financial services remains a challenge for many Comorians.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of loan accounts at commercial banks in Comoros, providing insight into the level of financial services usage and access in the country.
Q: Why is this trend relevant for users or analysts?
A: The number of loan accounts is an important indicator of financial inclusion and credit market development, which are crucial for economic growth and poverty reduction.
Q: How is this data collected or calculated?
A: The data is collected directly from commercial banks operating in Comoros.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze financial inclusion and credit market development in Comoros, which can inform policies aimed at improving access to financial services.
Q: Are there update delays or limitations?
A: The data may be subject to delays in reporting or limited coverage of the banking sector in Comoros.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Commercial Banks for Comoros (COMFCNODCNUM), retrieved from FRED.