Consumer credit increased at a seasonally adjusted annual rate of 3.8% in February and 3.7% in January. Total outstanding credit increased $15.3 billion during the month to $4.82 trillion.
Revolving credit, largely a reflection of credit card debt, increased at an annual rate of 5.0% to $1.22 trillion in February. Non-revolving credit rose at a 3.4% annual rate, and total non-revolving credit is now $3.60 trillion.
Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising 41.9% of outstanding credit. Depository institutions and Credit unions are secondary and tertiary holders of non-revolving, with 25.9% and 15.7%, respectively, of outstanding non-revolving credit.
Read the Fed release.
