Consumer Credit Increases in October

In October, consumer credit increased at a seasonally adjusted annual rate of 4.6%.  Revolving credit increased at an annual rate of 7.8%, while nonrevolving credit increased at an annual rate of 3.7%.

Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising 42.6% of outstanding credit. Depository institutions and finance companies are secondary and tertiary holders, with 25.8% and 16.7%, respectively, of outstanding non-revolving credit.

Read the Fed release.