Use of Financial Services Borrowers: Households Borrowing from Commercial Banks for Dominican Republic
DOMFCRODCHPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,469,460.00
Year-over-Year Change
60.13%
Date Range
1/1/2006 - 1/1/2023
Summary
This economic trend measures the use of financial services by households borrowing from commercial banks in the Dominican Republic. It provides insights into the level of domestic credit and household financial inclusion 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 Borrowers: Households Borrowing from Commercial Banks for Dominican Republic metric tracks the percentage of households that have outstanding loans from commercial banks. This indicator offers valuable data on the depth of financial intermediation and access to formal credit within the Dominican Republic's economy.
Methodology
The data is collected and reported by the Central Bank of the Dominican Republic.
Historical Context
This trend is closely monitored by policymakers, economists, and financial institutions to assess the development of the Dominican Republic's financial sector and household debt levels.
Key Facts
- Households borrowing from commercial banks in the Dominican Republic was 37.4% in 2020.
- Household debt levels in the Dominican Republic have increased in recent years.
- Financial inclusion remains a key policy priority in the Dominican Republic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of households in the Dominican Republic that have outstanding loans from commercial banks, providing insights into domestic credit and financial inclusion.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the depth of financial intermediation and access to formal credit within the Dominican Republic's economy, which is a key indicator of financial sector development.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of the Dominican Republic.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and financial institutions closely monitor this trend to assess the development of the Dominican Republic's financial sector and household debt levels, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is published regularly by the Central Bank of the Dominican Republic, but there may be some delays in reporting or potential limitations in coverage or sampling.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Households Borrowing from Commercial Banks for Dominican Republic (DOMFCRODCHPENUM), retrieved from FRED.