Use of Financial Services, Assets: Outstanding Loans at Commercial Banks for Colombia
COLFCSODCXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
655,074,366,000,000.00
Year-over-Year Change
227.87%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures outstanding loans at commercial banks in Colombia, providing insights into the use of financial services and assets in the country.
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 Colombia indicator tracks the total value of outstanding loans held by commercial banks in Colombia. This metric is used by economists and policymakers to analyze the availability of credit and the overall health of the Colombian financial system.
Methodology
The data is collected directly from the Central Bank of Colombia.
Historical Context
This trend is closely monitored by financial institutions, investors, and government agencies to understand lending activity and assess economic conditions in Colombia.
Key Facts
- Colombia is the fourth-largest economy in Latin America.
- Outstanding commercial bank loans in Colombia reached a record high in 2021.
- The financial services sector accounts for over 5% of Colombia's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding loans held by commercial banks in Colombia, providing insights into the use of financial services and assets in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is used by economists and policymakers to analyze the availability of credit and the overall health of the Colombian financial system, which is crucial for understanding economic conditions and growth potential.
Q: How is this data collected or calculated?
A: The data is collected directly from the Central Bank of Colombia.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by financial institutions, investors, and government agencies to understand lending activity and assess economic conditions in Colombia, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a short delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Use of Financial Services, Assets: Outstanding Loans at Commercial Banks for Colombia (COLFCSODCXDC), retrieved from FRED.