Use of Financial Services, Assets: Outstanding Loans at Commercial Banks for Congo
COGFCSODCXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,362,056,966,086.00
Year-over-Year Change
598.02%
Date Range
1/1/2011 - 1/1/2022
Summary
This economic trend measures the outstanding loans at commercial banks in the Democratic Republic of the Congo, providing insights into the country's financial services usage and access to credit.
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 issued by commercial banks operating in the Democratic Republic of the Congo. This metric offers a window into the overall activity and health of the Congolese banking sector and financial system.
Methodology
The data is collected directly from commercial banks in the Democratic Republic of the Congo and aggregated by the relevant statistical agencies.
Historical Context
Policymakers and economists monitor this trend to assess the availability of credit and the depth of financial intermediation in the Congolese economy.
Key Facts
- The Democratic Republic of the Congo has a population of over 84 million people.
- Loans from commercial banks are a key source of financing for businesses and households in the Congolese economy.
- The banking sector in the DRC has seen gradual improvements in recent years but still faces challenges around access and inclusion.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding loans issued by commercial banks operating in the Democratic Republic of the Congo. It provides insights into credit availability and financial intermediation in the Congolese economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing the development and stability of the Congolese financial system, as well as the ability of businesses and households to access credit and other banking services.
Q: How is this data collected or calculated?
A: The data is collected directly from commercial banks operating in the Democratic Republic of the Congo and aggregated by the relevant statistical agencies.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to evaluate the availability of credit and the depth of financial intermediation in the Congolese economy, which can inform decisions around financial sector development and regulatory policies.
Q: Are there update delays or limitations?
A: There may be occasional delays in data reporting or limitations in coverage, as the Congolese financial system continues to develop. Users should check for the most recent data release and any caveats provided by the source.
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Citation
U.S. Federal Reserve, Use of Financial Services, Assets: Outstanding Loans at Commercial Banks for Congo (COGFCSODCXDC), retrieved from FRED.