Consumer Credit Growth Increased in February

In February, consumer credit increased at a seasonally adjusted annual rate of 7.9%. Revolving credit increased at an annual rate of 10.1%, while nonrevolving credit increased at an annual rate of 7.3%.

Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising approximately 45.9% of outstanding credit. Depository institutions and finance companies are secondary and tertiary holders, with 25.1% and 16.6%, respectively, of outstanding non-revolving credit.

Read the Fed release.