Consumer Credit Increases in November

In November, consumer credit increased at a seasonally adjusted annual rate of 11.0%.  Revolving credit increased at an annual rate of 23.4%, while nonrevolving credit increased at an annual rate of 7.2%.

Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising 42.5% of outstanding credit. Depository institutions and finance companies are secondary and tertiary holders, with 25.9% and 16.7%, respectively, of outstanding non-revolving credit.

Read the Fed release.