Tuesday, April 7, 2015

Consumer Credit Grew 5.6% (SAAR) in February

Consumer credit increased at a seasonally adjusted annual rate of 5.6% in February to $3.34 trillion. Revolving credit contracted 5.0% (to $885 billion) and non-revolving credit increased by 9.4% ($2.5 trillion).

Total outstanding consumer credit increased by $15.5 billion. Total outstanding nonrevolving credit increased by $19.2 billion, while outstanding revolving credit decreased by $3.7 billion.

Federal Government holdings of student loans continue to be the largest portion of non-revolving credit, making up 36% of outstanding credit. Finance companies and depository institutions are the secondary holders of non-revolving credit, each holding approximately 25%. Depository institutions continue to be the primary holder of revolving credit, holding 82%.

Read the Federal Reserve release.

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