Use of Financial Services Deposit Accounts: Accounts at Other Depository Corporations for Philippines
PHLFCAODNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57,111,965.00
Year-over-Year Change
70.80%
Date Range
1/1/2004 - 1/1/2017
Summary
This economic trend measures the use of financial services deposit accounts held at other depository corporations in the Philippines. It provides insights into the country's financial inclusion and the public's reliance on the banking system.
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 Deposit Accounts: Accounts at Other Depository Corporations for Philippines data series tracks the total number of deposit accounts held at financial institutions other than the central bank in the Philippines. This metric is a key indicator of financial inclusion and the population's engagement with the formal banking sector.
Methodology
The data is collected and reported by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Historical Context
This trend is used by policymakers and economists to assess the development of the Philippines' financial system and monitor progress towards greater financial inclusion.
Key Facts
- The Philippines has over 70 million deposit accounts at other depository corporations.
- Financial inclusion has increased in the Philippines, with more than 50% of adults now having a bank account.
- Deposit accounts at other depository corporations account for a significant portion of the Philippines' financial services usage.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held at financial institutions other than the central bank in the Philippines. It provides insights into the country's financial inclusion and banking system usage.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of financial inclusion and development in the Philippines, which is important for policymakers, economists, and financial analysts to monitor.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the growth and development of the Philippines' financial system and to monitor progress towards greater financial inclusion.
Q: Are there update delays or limitations?
A: The data is published with a relatively short delay, and there are no major known limitations to the reporting of this trend.
Related Trends
National Accounts: Gross Domestic Product for Philippines
PHLNGDPDUSD
Number of Identified Exporters to Philippines from Mississippi
MSPHLA475SCEN
Firms with a Bank Loan or Line of Credit to Total Firms for Philippines
DDAI03PHA156NWDB
Bank's Net Interest Margin for Philippines
DDEI01PHA156NWDB
Bank Deposits to GDP for Philippines
DDOI02PHA156NWDB
Broad Effective Exchange Rate for Philippines
NBPHBIS
Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Other Depository Corporations for Philippines (PHLFCAODNUM), retrieved from FRED.