Use of Financial Services, Assets: Outstanding Loans at Commercial Banks for Congo
CODFCSODCXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,017,163,785,428.57
Year-over-Year Change
1003.50%
Date Range
1/1/2004 - 1/1/2021
Summary
This economic trend measures the outstanding loans at commercial banks in the Democratic Republic of the Congo. It provides insight into the level of financial services usage and access to credit in the Congolese economy.
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, Assets: Outstanding Loans at Commercial Banks for Congo series tracks the total value of loans extended by commercial banks operating in the Democratic Republic of the Congo. This metric reflects the overall depth and penetration of the formal banking sector and access to financing for businesses and households.
Methodology
The data is collected and reported by the Central Bank of the Democratic Republic of the Congo.
Historical Context
This trend is used by economists, policymakers, and financial analysts to assess the development of the Congolese financial system and credit markets.
Key Facts
- The Democratic Republic of the Congo is the second-largest country in Africa by area.
- Over 60% of the Congolese population lives below the national poverty line.
- The banking sector in Congo is small, with a domestic credit-to-GDP ratio of only around 10%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding loans extended by commercial banks operating in the Democratic Republic of the Congo. It provides insight into the depth and accessibility of the formal banking sector and credit markets in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing the development and inclusion of the Congolese financial system. It helps economists and policymakers understand the level of access to credit and banking services for businesses and households in the country.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of the Democratic Republic of the Congo.
Q: How is this trend used in economic policy?
A: Policymakers and regulators use this metric to monitor the depth and health of the Congolese banking sector and credit markets. It informs decisions around financial sector development, access to finance, and policies to promote economic growth.
Q: Are there update delays or limitations?
A: There may be delays in the reporting and publication of this data by the Congolese central bank. Additionally, the reliability and coverage of the data may be limited due to the relatively underdeveloped nature of the Congolese financial system.
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Citation
U.S. Federal Reserve, Use of Financial Services, Assets: Outstanding Loans at Commercial Banks for Congo (CODFCSODCXDC), retrieved from FRED.