Use of Financial Services, Liabilities: Outstanding Deposits at Insurance Corporations for Colombia
COLFCLOFIXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
102,011,408,350,000.00
Year-over-Year Change
351.13%
Date Range
1/1/2004 - 1/1/2023
Summary
This trend measures the outstanding deposits held at insurance corporations in Colombia. It provides insight into the level of financial services usage and the overall liquidity conditions in the Colombian 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 outstanding deposits at insurance corporations in Colombia represents the total value of deposit liabilities held by the insurance sector. This metric is used by economists to assess financial intermediation and the degree of financial deepening in the Colombian economy.
Methodology
The data is collected by Colombia's central bank, Banco de la República, through surveys of insurance companies.
Historical Context
Policymakers and analysts monitor this trend to gauge the broader financial landscape and identify potential risks or imbalances.
Key Facts
- Colombia's deposits at insurance corporations totaled $XXX billion as of the latest data.
- This metric has grown by X% over the past Y years, reflecting increased financial deepening.
- Insurance deposits account for approximately Z% of Colombia's total financial system liabilities.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding deposit liabilities held by insurance corporations in Colombia. It provides insight into the level of financial intermediation and liquidity in the Colombian economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by economists and policymakers to assess the depth and development of Colombia's financial system. It signals the degree of financial services usage and can indicate broader macroeconomic and financial stability conditions.
Q: How is this data collected or calculated?
A: The data is collected by Colombia's central bank, Banco de la República, through surveys of insurance companies operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to gauge the overall financial landscape in Colombia, identify potential risks or imbalances, and inform decisions around financial regulation and macroeconomic policies.
Q: Are there update delays or limitations?
A: The data is published with a lag of approximately X months. There may also be limitations in coverage or reporting, as the metric relies on survey responses from the insurance sector.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Insurance Corporations for Colombia (COLFCLOFIXDC), retrieved from FRED.