Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Colombia
COLFCNODCHNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22,636,570.00
Year-over-Year Change
73.81%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of loan accounts held by households at commercial banks in Colombia. It provides insights into household borrowing patterns and financial inclusion 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 'Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Colombia' series tracks the total number of loan accounts held by households at commercial banks in Colombia. This metric is used by economists and policymakers to analyze household access to formal credit and financial services.
Methodology
The data is collected by Colombia's central bank through surveys of commercial banks operating in the country.
Historical Context
This trend is relevant for assessing financial market development and household financial health in Colombia.
Key Facts
- Colombia has a population of over 50 million people.
- The banking sector in Colombia is dominated by a few large commercial banks.
- Access to formal credit remains a challenge for many low-income Colombian households.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of loan accounts held by households at commercial banks in Colombia. It provides insights into household borrowing and financial inclusion.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for analyzing access to formal credit and the development of Colombia's financial services sector.
Q: How is this data collected or calculated?
A: The data is collected by Colombia's central bank through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess financial inclusion and household financial health in Colombia.
Q: Are there update delays or limitations?
A: The data may be subject to reporting lags by commercial banks, and the metric only captures formal loan accounts, not informal lending.
Related Trends
Number of Identified Exporters to Colombia from Minnesota
MNCOLA475SCEN
Fertility Rate, Total for Colombia
SPDYNTFRTINCOL
International Merchandise Trade Statistics: Trade Balance: Commodities for Colombia
COLXTNTVA01CXMLSAM
General Government Primary Net Lending/Borrowing for Colombia
COLGGXONLBGDP
Business Tendency Surveys: Employment: Economic Activity: Manufacturing: Future Tendency for Colombia
COLBSEMFT02STSAQ
Consumer Price Index: Transport (COICOP 07): Total for Colombia
COLCP070000GPQ
Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Colombia (COLFCNODCHNUM), retrieved from FRED.