Consumer Credit increased in December at a seasonally adjusted annual rate of 7.2 percent, rising $21.3 billion (compared to $14.0 billion in November) to $3.55 trillion.
Revolving credit rose at an annual rate of 7.5 percent and by $15.4 billion (up from $7.7 billion in November) to $935.6 billion.
Non-revolving credit increased at an annual rate of 7.1 percent and by $5.8 billion (down from $6.4 billion in November) to $2.61 trillion
Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising approximately 36 percent of outstanding credit. Depository institutions and finance companies are the secondary and tertiary holders, with 25 percent and 24 percent, respectively, of outstanding non-revolving credit.
Read the Federal Reserve release.
Visit the new Banks and the Economy.