Micronesia: Legal rights
* indicates monthly or quarterly data series
| Micronesia |
Index of legal rights for creditors and borrowers (0 = weak to 12 = strong) |
|---|---|
| Latest value | 10.00 |
| Year | 2019 |
| Measure | points |
| Data availability | 2013 - 2019 |
| Average | 10.00 |
| Min - Max | 10.00 - 10.00 |
| Source | The World Bank |
The latest value from 2019 is 10 points, unchanged from 10 points in 2018. In comparison, the world average is 5.69 points, based on data from 186 countries. Historically, the average for Micronesia from 2013 to 2019 is 10 points. The minimum value, 10 points, was reached in 2013 while the maximum of 10 points was recorded in 2013.
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Recent data
The index of legal right for creditors and borrowers in Micronesia ranges from 0 (no rights) to 12 (strong rights). Stronger legal rights such as efficient bankruptcy procedures, rules for financial disclosure, clear property rights, etc. facilitate lending.
Definition: The strength of legal rights index measures whether certain features that facilitate lending exist within the applicable collateral and bankruptcy laws. The index ranges from 0 to 12 based on the methodology in the Doing Business 15-20 studies.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Lending-deposit interest rate spread | 14.40 | 2020 | interest rate points |
| Non-performing loans | 0.27 | 2021 | percent |
| Bank credit to deposits | 31.30 | 2020 | percent |
| Lending interest rate | 12.62 | 2021 | percent |
| Real interest rate | 10.43 | 2021 | percent |
| Legal rights | 10.00 | 2019 | points |
| Credit information sharing | 0.00 | 2019 | points |