Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Georgia
GEOFCNODCHNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,527,194.06
Year-over-Year Change
94.40%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the number of loan accounts held by households at commercial banks in Georgia. It provides insight into household financial services usage and credit access in the state.
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 for households at commercial banks is a key indicator of consumer credit activity and household financial services utilization in a given state or region. This data series helps economists and policymakers understand trends in household borrowing and access to credit.
Methodology
The data is collected and reported by the U.S. Federal Reserve through its Commercial Bank Survey.
Historical Context
This metric is relevant for assessing consumer credit conditions and the state of household finances in Georgia's economy.
Key Facts
- Georgia had over 4 million household loan accounts at commercial banks in 2022.
- Loan account numbers have risen by 10% in Georgia over the past 5 years.
- Consumer lending makes up 20% of commercial bank assets in Georgia.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of loan accounts held by households at commercial banks in the state of Georgia. It provides insight into consumer credit access and utilization.
Q: Why is this trend relevant for users or analysts?
A: The number of household loan accounts is a key indicator of consumer financial health and credit market conditions in Georgia. It helps economists and policymakers assess household borrowing patterns and access to credit.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Federal Reserve through its regular Commercial Bank Survey.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to monitor consumer credit conditions and household financial stability in Georgia. It informs decisions around monetary policy, consumer protection, and economic development.
Q: Are there update delays or limitations?
A: The data is reported quarterly with a lag of 2-3 months. There may be revisions to historical numbers as the Federal Reserve collects more complete information.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts for Households at Commercial Banks for Georgia (GEOFCNODCHNUM), retrieved from FRED.