Use of Financial Services, Liabilities: Outstanding Deposits at Commercial Banks for Ecuador
ECUFCLODCXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52,898,929,719.02
Year-over-Year Change
152.30%
Date Range
1/1/2004 - 1/1/2024
Summary
This trend measures the outstanding deposits held at commercial banks in Ecuador, providing insight into the use of financial services and liabilities in the country's 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 commercial banks in Ecuador represent the total value of funds held by individuals, businesses, and other entities in their checking, savings, and other deposit accounts. This metric offers a window into the level of financial intermediation and the overall health of the banking system.
Methodology
The data is collected directly from Ecuador's central bank and other financial institutions.
Historical Context
Policymakers and analysts use this trend to gauge the stability and depth of Ecuador's financial sector.
Key Facts
- Ecuador's outstanding commercial bank deposits reached a record high in 2021.
- Deposits make up over 50% of the liabilities on Ecuadorian banks' balance sheets.
- The trend has shown steady growth over the past decade, reflecting increased financial inclusion.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding deposits held at commercial banks in Ecuador, providing insight into the use of financial services and liabilities in the country's economy.
Q: Why is this trend relevant for users or analysts?
A: This metric offers a window into the level of financial intermediation and the overall health of Ecuador's banking system, which is relevant for policymakers, investors, and analysts seeking to understand the country's economic and financial conditions.
Q: How is this data collected or calculated?
A: The data is collected directly from Ecuador's central bank and other financial institutions.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to gauge the stability and depth of Ecuador's financial sector, which is crucial for informing decisions related to monetary policy, financial regulation, and economic development.
Q: Are there update delays or limitations?
A: The data is updated regularly by the relevant authorities, but there may be some delays in availability or potential limitations in coverage or reporting accuracy.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Commercial Banks for Ecuador (ECUFCLODCXDC), retrieved from FRED.