Use of Financial Services Deposit Accounts: Household Accounts at Other Deposit Takers for Colombia
COLFCAODDHNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
507,868.00
Year-over-Year Change
54.05%
Date Range
1/1/2009 - 1/1/2017
Summary
This economic trend measures the number of household deposit accounts held at financial service providers other than the central bank in Colombia. It provides insight into the use and access to formal financial services by Colombian households.
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: Household Accounts at Other Deposit Takers for Colombia metric tracks the total number of deposit accounts held by Colombian households at institutions such as commercial banks, credit unions, and microfinance providers. This data point is a key indicator of financial inclusion and the overall development of the Colombian banking and financial sector.
Methodology
The data is collected and reported by the central bank of Colombia.
Historical Context
Policymakers and analysts use this metric to monitor trends in household participation in the formal financial system and identify areas for improving financial access and literacy.
Key Facts
- Colombia had over 42 million deposit accounts as of the latest data.
- Household deposit accounts make up over 90% of total deposit accounts in Colombia.
- The number of household deposit accounts has grown by over 50% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held by Colombian households at financial service providers other than the central bank.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial inclusion and access to formal banking services for Colombian households, which is a key indicator of economic development.
Q: How is this data collected or calculated?
A: The data is collected and reported by the central bank of Colombia.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor trends in household participation in the formal financial system and identify areas for improving financial access and literacy.
Q: Are there update delays or limitations?
A: The data is published with a short lag, typically within a few months of the reporting period.
Related Trends
Life Expectancy at Birth, Total for Colombia
SPDYNLE00INCOL
Real Residential Property Prices for Colombia
QCOR368BIS
International Merchandise Trade Statistics: Trade Balance: Commodities for Colombia
COLXTNTVA01CXMLSAM
Infra-Annual Labor Statistics: Employment Rate Total: 15 Years or over for Colombia
COLLREMTTTTSTSAM
Currency Conversions: US Dollar Exchange Rate: Average of Daily Rates: National Currency: USD for Colombia
COLCCUSMA02STM
Value of Exports to Colombia from New York
NYCOLA052SCEN
Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Household Accounts at Other Deposit Takers for Colombia (COLFCAODDHNUM), retrieved from FRED.