Consumer credit increased at a seasonally adjusted annual rate of 4.5% in October. Total outstanding credit increased to $5.113 trillion during the month.
Revolving credit, largely a reflection of credit card debt, increased at an annual rate of 13.9% to $1.374 trillion. Non-revolving credit increased at an annual rate of 1.1% to $3.739 trillion.
The Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising 40.3% 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.
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