Consumer credit increased at a seasonally adjusted annual rate of 4.8% in April. Total outstanding credit increased to $5,153.1 trillion during the month, up 0.4% from March’s revised total of $5,132.4 trillion.
Total outstanding revolving credit, largely a reflection of credit card debt, increased at an annual rate of 0.87% to $1.348.7 trillion. Total outstanding non-revolving credit increased at an annual rate of 0.23% to $3,804.4 trillion.
The Federal government holdings of student loans continue to be the largest portion of non-revolving credit, comprising 42.2% percent of non-revolving credit. Depository institutions and Finance companies are secondary and tertiary holders of non-revolving credit, with 22.7% and 18.1%, respectively of non-revolving credit.
Read the Fed release.
