Consumer credit increased at a seasonally adjusted annual rate of 2.4% in December. Total outstanding credit increased to $5.146 trillion during the month.
Revolving credit, largely a reflection of credit card debt, increased at an annual rate of 20.2% to $1.382 trillion. Non-revolving credit increased at an annual rate of 5.8% to $3.763 trillion.
The Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising 40.4% percent of non-revolving credit. Depository institutions and Finance companies are secondary and tertiary holders of non-revolving credit, with 24.4% and 19.3%, respectively of non-revolving credit.
Read the Fed release.
ADVERTISEMENT
