Consumer Credit Growth Decelerates in June

Consumer credit increased at a seasonally adjusted annual rate of 4.3 percent in June. Total outstanding credit increased $14.6 billion during the month to $4.10 trillion.

Revolving credit, largely a reflection of credit card debt, decreased at an annual rate of 0.1 percent to $1.07 trillion, following an 8.4 percent increase in May. Non-revolving credit rose at a 5.8 percent annual rate, or $14.7 billion. Total non-revolving credit is now $3.03 trillion.

Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising approximately 42.2 percent of outstanding credit. Depository institutions and finance companies are secondary and tertiary holders, with 25.1 percent and 16.8 percent, respectively, of outstanding non-revolving credit.

Read the Fed release.