Consumer credit increases in March

Consumer credit increased at a seasonally adjusted annual rate of 5.4% in March and 6.6% in February. Total outstanding credit increased $26.5 billion during the month to $4.85 trillion.

Revolving credit, largely a reflection of credit card debt, increased at an annual rate of 12.3% to $1.24 trillion in February. Non-revolving credit rose at a 3.1% annual rate, and total non-revolving credit is now $3.61 trillion.

Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising 41.8% of outstanding credit. Depository institutions and Credit unions are secondary and tertiary holders of non-revolving, with 25.8% and 15.8%, respectively, of outstanding non-revolving credit.

Read the Fed release.