Consumer credit increased at a seasonally adjusted annual rate of 0.4% in December after increasing 5.7% in November. Total outstanding credit increased to $5,010.3 trillion in December.
Revolving credit, largely a reflection of credit card debt, increased at an annual rate of 1.0% to $1,314.3 trillion in December. Non-revolving credit increased at a 0.2% annual rate, and total non-revolving credit is now $3,696.0 trillion.
Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising 39.5% of nonrevolving credit. Depository institutions and Finance companies are secondary and tertiary holders of non-revolving credit, with 24.5% and 19.3%, respectively of outstanding non-revolving credit.
Read the Fed release.
