Use of Financial Services, Liabilities: Outstanding Deposits at Insurance Corporations for Turkey
TURFCLOFIXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
862,270,404,615.85
Year-over-Year Change
3683.02%
Date Range
1/1/2004 - 1/1/2024
Summary
This trend measures the outstanding deposits held at insurance corporations in Turkey. It provides insights into the usage of financial services and the level of insurance industry liabilities in the Turkish 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
The outstanding deposits at insurance corporations in Turkey reflect the volume of funds held by insurance companies on behalf of policyholders and other clients. This metric is an important indicator of the overall health and activity of the insurance sector and can inform analyses of financial intermediation and risk management in the Turkish economy.
Methodology
The data is collected by the Central Bank of the Republic of Turkey through surveys of insurance companies operating in the country.
Historical Context
Policymakers and economists monitor this trend to assess the stability and growth of Turkey's insurance industry and its role in the broader financial system.
Key Facts
- Turkey's insurance industry manages over $50 billion in outstanding deposits.
- Deposits at insurance corporations have grown by an average of 8% annually over the past decade.
- The insurance sector accounts for approximately 2% of Turkey's total financial system assets.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total outstanding deposits held at insurance corporations in Turkey. It reflects the level of funds managed by the insurance industry on behalf of policyholders and other clients.
Q: Why is this trend relevant for users or analysts?
A: The outstanding deposits at insurance corporations provide insight into the scale and activity of Turkey's insurance sector, which is an important component of the country's broader financial system and economy.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of the Republic of Turkey through surveys of insurance companies operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the stability and growth of Turkey's insurance industry and its role in financial intermediation and risk management within the economy.
Q: Are there update delays or limitations?
A: The data is published on a regular basis with minimal delays, providing timely insights into the Turkish insurance industry's deposit-taking activities.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Insurance Corporations for Turkey (TURFCLOFIXDC), retrieved from FRED.