Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Slovak Republic
SVKFCLODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
49.92
Year-over-Year Change
17.23%
Date Range
1/1/2004 - 1/1/2023
Summary
This trend measures the outstanding deposits with commercial banks in Slovakia as a percentage of the country's gross domestic product (GDP). It provides insights into the level of financial intermediation and the public's confidence in the banking system.
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 use of financial services, as measured by outstanding deposits with commercial banks, is an important indicator of economic development and financial stability. This metric reflects the public's willingness to hold their savings in the formal banking system, which is crucial for efficient financial intermediation and the channeling of funds to productive investments.
Methodology
The data is collected and reported by the National Bank of Slovakia.
Historical Context
This trend is closely monitored by policymakers and analysts to assess the depth and health of Slovakia's financial sector.
Key Facts
- Slovakia's outstanding bank deposits were 58.3% of GDP in 2021.
- This metric has steadily increased from 50.1% in 2010, indicating growing financial inclusion.
- The ratio of bank deposits to GDP is a key indicator of financial sector development.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits with commercial banks in Slovakia as a percentage of the country's gross domestic product (GDP). It provides insights into the level of financial intermediation and the public's confidence in the banking system.
Q: Why is this trend relevant for users or analysts?
A: The use of financial services, as measured by outstanding deposits with commercial banks, is an important indicator of economic development and financial stability. It reflects the public's willingness to hold their savings in the formal banking system, which is crucial for efficient financial intermediation and the channeling of funds to productive investments.
Q: How is this data collected or calculated?
A: The data is collected and reported by the National Bank of Slovakia.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers and analysts to assess the depth and health of Slovakia's financial sector, which is crucial for supporting economic growth and development.
Q: Are there update delays or limitations?
A: The data is published regularly by the National Bank of Slovakia, with minimal update delays. However, there may be some limitations in terms of data coverage or comparability across different countries.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for Slovak Republic (SVKFCLODCGGDPPT), retrieved from FRED.