Use of Financial Services, Liabilities: Outstanding Deposits at Deposit Taking Microfinance Institutions (MFIs) for Philippines
PHLFCLODMFXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,920,274,899.86
Year-over-Year Change
613.52%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the outstanding deposits held at deposit-taking microfinance institutions (MFIs) in the Philippines. It provides insights into the use of formal financial services by individuals and businesses 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 outstanding deposits at deposit-taking MFIs in the Philippines reflect the level of financial inclusion and access to formal banking services, particularly for underserved populations. This data is used by policymakers and analysts to evaluate the effectiveness of financial inclusion initiatives and the overall development of the microfinance sector.
Methodology
The data is collected directly from deposit-taking MFIs in the Philippines by the central bank.
Historical Context
This trend is relevant for understanding financial access and the growth of the microfinance industry, which is a key component of financial sector development policies.
Key Facts
- The Philippines has over 200 deposit-taking MFIs.
- Microfinance deposits account for about 2% of total bank deposits in the Philippines.
- Outstanding MFI deposits have grown by over 10% annually in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits held at deposit-taking microfinance institutions (MFIs) in the Philippines. It provides insights into the use of formal financial services by individuals and businesses.
Q: Why is this trend relevant for users or analysts?
A: This data is used by policymakers and analysts to evaluate the effectiveness of financial inclusion initiatives and the overall development of the microfinance sector in the Philippines.
Q: How is this data collected or calculated?
A: The data is collected directly from deposit-taking MFIs in the Philippines by the central bank.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding financial access and the growth of the microfinance industry, which is a key component of financial sector development policies in the Philippines.
Q: Are there update delays or limitations?
A: The data is published on a regular basis with minimal delays, providing timely insights into the microfinance sector.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Deposit Taking Microfinance Institutions (MFIs) for Philippines (PHLFCLODMFXDC), retrieved from FRED.