Consumer credit increased at a seasonally adjusted annual rate of 2.7% in September. Total outstanding credit increased to $5.0766 trillion during the month, up 0.3% from August’s revised total of $5.063.5 trillion.
Revolving credit, largely a reflection of credit card debt, increased at an annual rate of 1.5% to $1.3069 trillion. Non-revolving credit increased at an annual rate of 3.7% to $3.7697 trillion.
The Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising 41.5% percent of non-revolving credit. Depository institutions and Finance companies are secondary and tertiary holders of non-revolving credit, with 22.5% and 18.7%, respectively of non-revolving credit.
Read the Fed release.
