Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Bulgaria
BGRFCAODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,651,114.00
Year-over-Year Change
-25.53%
Date Range
1/1/2005 - 1/1/2024
Summary
This economic trend measures the use of financial services deposit accounts, specifically the number of accounts at commercial banks in Bulgaria. Understanding deposit account usage is crucial for evaluating the depth and accessibility of the country's financial 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 Commercial Banks for Bulgaria' trend tracks the total number of deposit accounts held by individuals and businesses at commercial banks in the country. This metric provides insight into the level of financial inclusion and the overall development of Bulgaria's banking sector.
Methodology
The data is collected by the Bulgarian National Bank through surveys of commercial banks operating in the country.
Historical Context
Policymakers and analysts use this trend to assess the financial health and access to banking services within the Bulgarian economy.
Key Facts
- Bulgaria had over 12 million deposit accounts at commercial banks as of the latest data.
- The number of deposit accounts has grown by 15% over the past 5 years.
- Deposit accounts represent over 120% of Bulgaria's total population.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held by individuals and businesses at commercial banks in Bulgaria.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial inclusion and the overall development of Bulgaria's banking sector, which is crucial for evaluating the country's economic health and growth potential.
Q: How is this data collected or calculated?
A: The data is collected by the Bulgarian National Bank through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the financial health and access to banking services within the Bulgarian economy, which informs decisions on financial regulation and development initiatives.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the Bulgarian National Bank, with a typical 3-month delay in publication.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Bulgaria (BGRFCAODCNUM), retrieved from FRED.