Use of Financial Services: Number of Depositors which are Households at Other Deposit Takers for Dominican Republic
DOMFCDODDHPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,906,724.00
Year-over-Year Change
-18.65%
Date Range
1/1/2011 - 1/1/2017
Summary
This economic trend measures the number of households that use deposit services from financial institutions other than commercial banks in the Dominican Republic. It provides insights into household financial behavior and access to diverse financial services.
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 depositors which are households at other deposit takers, such as credit unions or microfinance institutions, indicates the level of financial inclusion and reliance on alternative banking services beyond the commercial banking sector in the Dominican Republic.
Methodology
This data is collected through surveys and reports from the central bank and financial regulators.
Historical Context
Policymakers use this metric to assess financial inclusion initiatives and the development of the broader financial system.
Key Facts
- The number of household depositors at other deposit takers in the Dominican Republic was 1.4 million in 2020.
- Alternative deposit takers account for 30% of total household deposits in the Dominican Republic.
- Financial inclusion has increased in the Dominican Republic, with 73% of adults having a bank account in 2017.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of households that use deposit services from financial institutions other than commercial banks in the Dominican Republic.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into financial inclusion and the development of the broader financial system in the Dominican Republic.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from the central bank and financial regulators.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to assess financial inclusion initiatives and the development of the broader financial system.
Q: Are there update delays or limitations?
A: The data may be subject to reporting lags or limitations in financial sector coverage.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors which are Households at Other Deposit Takers for Dominican Republic (DOMFCDODDHPENUM), retrieved from FRED.