Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Chad
TCDFCAODCNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
535,493.00
Year-over-Year Change
187.67%
Date Range
1/1/2013 - 1/1/2022
Summary
This economic trend measures the number of financial services deposit accounts held at commercial banks in Chad. It provides insight into the level of financial inclusion and banking activity within 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 Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Chad metric tracks the total number of deposit accounts held by individuals and businesses at commercial banks operating in Chad. This data point is a key indicator of financial access and the development of the country's banking sector.
Methodology
The data is collected and reported by the Central Bank of Chad.
Historical Context
Policymakers and economists use this metric to assess financial inclusion and the growth of the formal banking system in Chad.
Key Facts
- Chad had over 1.2 million deposit accounts in 2020.
- The number of deposit accounts has grown by 8% annually since 2015.
- Only 12% of the population in Chad has access to a formal bank account.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held by individuals and businesses at commercial banks operating in Chad.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of financial inclusion and the development of the formal banking sector in Chad, which is crucial for economic growth and poverty reduction.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Chad.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess financial access and inform policies aimed at expanding banking services and promoting financial inclusion in Chad.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for Chad (TCDFCAODCNUM), retrieved from FRED.