Use of Financial Services: Number of Loan Accounts at Other Deposit Takers for Colombia
COLFCNODDNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,565,396.00
Year-over-Year Change
211.73%
Date Range
1/1/2004 - 1/1/2017
Summary
This trend measures the number of loan accounts held with non-bank financial institutions in Colombia. It provides insight into the level of access and utilization of alternative financial services 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 number of loan accounts at other deposit takers, such as microfinance institutions and credit cooperatives, is an important indicator of financial inclusion and the diversity of Colombia's financial sector. This data can be used to assess trends in access to credit beyond traditional banking channels.
Methodology
The data is collected by the Central Bank of Colombia through surveys of non-bank deposit-taking institutions.
Historical Context
Policymakers and analysts use this metric to monitor financial sector development and the reach of formal credit markets in Colombia.
Key Facts
- Colombia has a diverse financial sector beyond traditional banks.
- Access to credit from non-bank institutions is an important indicator of financial inclusion.
- This metric provides insights into the reach of formal credit in the Colombian economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of loan accounts held with non-bank deposit-taking institutions in Colombia, such as microfinance providers and credit cooperatives.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial inclusion and the diversity of credit sources beyond traditional banks in the Colombian economy.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Colombia through surveys of non-bank deposit-taking institutions.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor financial sector development and the reach of formal credit markets in Colombia.
Q: Are there update delays or limitations?
A: The data is subject to the reporting timelines and coverage of the Central Bank of Colombia's surveys of non-bank financial institutions.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Other Deposit Takers for Colombia (COLFCNODDNUM), retrieved from FRED.