Use of Financial Services, Liabilities: Outstanding Deposits at Commercial Banks for Singapore
SGPFCLODCXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,916,166,700,000.00
Year-over-Year Change
269.32%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the outstanding deposits held at commercial banks in Singapore. It provides insights into the level of financial services usage and overall economic activity 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 outstanding deposits at commercial banks in Singapore is an important indicator of the level of financial services usage and economic activity. It represents the total value of deposits held by individuals, businesses, and institutions in the country's commercial banking system.
Methodology
The data is collected and reported by the Monetary Authority of Singapore.
Historical Context
This trend is closely monitored by policymakers, economists, and market analysts to assess the health of Singapore's financial sector and broader economy.
Key Facts
- Singapore is a major global financial center.
- Deposits at commercial banks are a key indicator of economic confidence.
- Outstanding deposits have grown steadily in Singapore over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding deposits held at commercial banks in Singapore. It provides insights into the level of financial services usage and overall economic activity in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is closely watched by policymakers, economists, and market analysts as it offers valuable insights into the health and growth of Singapore's financial sector and broader economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Monetary Authority of Singapore, the country's central bank and financial regulatory authority.
Q: How is this trend used in economic policy?
A: Policymakers and central banks use this trend to monitor financial sector stability, assess economic confidence, and inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis with minimal delays, providing timely insights into the state of Singapore's commercial banking deposits and financial services usage.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Commercial Banks for Singapore (SGPFCLODCXDC), retrieved from FRED.