Consumer credit increased at a seasonally adjusted annual rate of 2.1% in August. Total outstanding credit increased to $5.097.6 trillion during the month.
Revolving credit, largely a reflection of credit card debt, increased to $1.358 trillion. Non-revolving credit increased at an annual rate of 3.3% and total non-revolving credit is $3.740 trillion.
Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising 40.2% percent of non-revolving credit. Depository institutions and Finance companies are secondary and tertiary holders of non-revolving credit, with 24.4% and 19.2%, respectively of non-revolving credit.
Read the Fed release.