Consumer credit increased at a seasonally adjusted annual rate of 2.3% in June. Total outstanding credit increased to $5.0547 trillion during the month, up 0.1% from May’s revised total of $5.0473 trillion.
Revolving credit, largely a reflection of credit card debt, increased at an annual rate of 0.7% to $1.297 trillion. Non-revolving credit increased at an annual rate of 2.9% to $3.757 trillion.
The Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising 48.3% percent of non-revolving credit. Depository institutions and Finance companies are secondary and tertiary holders of non-revolving credit, with 22.5% and 18.9%, respectively of non-revolving credit.
Read the Fed release.
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