Use of Financial Services, Liabilities: Outstanding Deposits at Other Depository Corporations for Ecuador
ECUFCLODXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25,722,030,700.00
Year-over-Year Change
276.38%
Date Range
1/1/2004 - 1/1/2012
Summary
This trend measures the outstanding deposits held at other depository corporations in Ecuador, providing insights into the use of financial services and the country's overall banking and monetary conditions.
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 other depository corporations in Ecuador represent the total value of funds held by individuals, businesses, and other entities in accounts with financial institutions other than the central bank. This metric is a key indicator of the public's engagement with the formal banking system and the overall liquidity in the Ecuadorian economy.
Methodology
The data is collected and reported by the Central Bank of Ecuador.
Historical Context
Policymakers and analysts use this trend to assess the stability and depth of Ecuador's financial sector and to inform monetary and regulatory policies.
Key Facts
- Ecuador's outstanding deposits at other depository corporations reached a record high in 2021.
- The trend has shown steady growth over the past decade, indicating increased financial inclusion.
- Deposits are a crucial source of funding for Ecuador's banking system and economic development.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding deposits held by individuals, businesses, and other entities in accounts with financial institutions other than the central bank in Ecuador.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the depth and stability of Ecuador's financial sector, as well as the overall liquidity and engagement of the public with the formal banking system.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Ecuador.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health of Ecuador's financial system and to inform monetary and regulatory policies aimed at promoting financial inclusion and economic stability.
Q: Are there update delays or limitations?
A: The data is reported with a relatively short lag, typically within a few months, and is considered a reliable and comprehensive measure of deposits held at other depository corporations in Ecuador.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Other Depository Corporations for Ecuador (ECUFCLODXDC), retrieved from FRED.