Use of Financial Services: Number of Loan Accounts at Commercial Banks for Liberia
LBRFCNODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
44,819.84
Year-over-Year Change
167.77%
Date Range
1/1/2008 - 1/1/2023
Summary
The 'Use of Financial Services: Number of Loan Accounts at Commercial Banks for Liberia' trend measures the total number of loan accounts held by individuals and businesses at commercial banks in Liberia. This metric provides insight into the level of financial inclusion and access to credit in the Liberian 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
This series represents the total number of outstanding loan accounts at commercial banks in Liberia. It serves as an indicator of the breadth and depth of financial intermediation, a key factor in economic development and growth.
Methodology
The data is collected by the Central Bank of Liberia through surveys of commercial banks operating in the country.
Historical Context
Policymakers and analysts use this metric to assess financial sector development and the effectiveness of policies aimed at increasing access to credit and financial services.
Key Facts
- Liberia has a population of over 5 million people.
- Access to formal financial services remains a challenge in Liberia.
- The number of loan accounts is an indicator of financial inclusion.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of loan accounts held by individuals and businesses at commercial banks in Liberia. It provides insight into the level of financial inclusion and access to credit in the Liberian economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is relevant for understanding the development of Liberia's financial sector and the effectiveness of policies aimed at increasing access to credit and other financial services.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Liberia through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess financial sector development and inform policies to promote financial inclusion and access to credit in Liberia.
Q: Are there update delays or limitations?
A: The data may be subject to reporting delays or limitations in coverage, as it relies on surveys of commercial banks in Liberia.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts at Commercial Banks for Liberia (LBRFCNODCNUM), retrieved from FRED.