G.19 Consumer Credit For rele

February 2024

Notes about the Data

The Federal Reserve Board announced on March 7, 2024 the following changes to the Consumer Credit (G.19) statistical release: BegConsumer Credit release, scheduled to be published on June 7, 2024, data for the Finance Companies New Car Loan Terms of CreExperian's Velocity Risk Report instead of Experian's Autocount Risk Report. The updated source data will affect only data from thprevious data will not be affected. The types of measures shown will not change. 
G.19 Consumer Credit For rele

February 2024 

In February, consumer credit increased at a seasonally adjusted annual rate of 3.4 percent. Revolving credit increased at an annual rate of 10.2 percent, while nonrevolof 0.9 percent.Consumer Credit Outstanding1Seasonally adjusted. Billions of dollars except as noted.

2022 2023 

2019 2020 2021r 2022 2023r Q4r Q1r Q2r Q3r Q

Total percent change (annual rate)2 4.6 -0.3 5.7 7.6 2.6 6.5 4.0 3.4 0.3 

 Revolving 3.6 -11.2 6.7 15.1 8.8 13.3 9.2 8.3 8.9  Nonrevolving3 5.0 3.5 5.4 5.3 0.5 4.4 2.3 1.8 -2.6 

Total flow (annual rate)2,4 185.1 -12.0 237.8 345.5 125.2 315.0 197.2 169.1 14.8 11 Revolving 38.1 -122.1 65.6 159.1 106.2 156.3 112.1 102.8 112.9 9 Nonrevolving3 147.0 110.1 172.2 186.4 19.0 158.7 85.1 66.3 -98.1 2

Total outstanding 4,192.2 4,184.9 4,548.5 4,894.0 5,019.3 4,894.0 4,943.3 4,985.6 4,989.3 5,01 Revolving 1,092.0 974.6 1,053.5 1,212.6 1,318.8 1,212.6 1,240.6 1,266.3 1,294.5 1,31 Nonrevolving3 3,100.2 3,210.3 3,495.0 3,681.4 3,700.5 3,681.4 3,702.7 3,719.3 3,694.8 3,70

Terms of CreditNot seasonally adjusted. Percent except as noted.Commercial bank interest rates5 New car loans 60-month 5.31 5.02 4.82 5.36 7.83 6.55 7.48 7.81 7.88 8 72-month 5.36 5.21 4.82 5.50 7.89 6.64 6.97 7.80 8.12 8 Credit card plans All accounts 15.05 14.71 14.60 16.26 20.90 19.07 20.09 20.84 21.19 21 Accounts assessed interest 16.98 16.28 16.45 17.91 22.15 20.40 20.92 22.16 22.77 22 Personal loans 24-month 10.32 9.51 9.38 9.87 11.87 11.21 11.48 11.48 12.17 12Finance companies (new car loans)6 Interest rates 6.4 5.2 4.6 5.2 6.7 6.1 6.4 6.6 6.7  Maturity (months) 67 69 67 67 66 67 66 65 65  Amount financed (dollars) 31,311 34,449 35,307 38,900 38,716 39,407 39,066 38,689 38,588 38,5This release is generally issued on the fifth business day of each month. See the Statistical Release Schedule for more information.Footnotes appear on the second and third pages.
Consumer Credit Outstanding (Levels)

Not seasonally adjustedBillions of dollars

2022 2023 

2019 2020 2021 2022 2023r Q4 Q1r Q2r Q3r Q4

Total 4,192.2 4,184.9 4,548.5 4,894.0 5,019.3 4,894.0 4,886.5 4,940.8 4,960.9 5,019Major holders Depository institutions 1,774.1 1,687.5 1,827.2 2,032.8 2,116.7 2,032.8 2,002.5 2,037.0 2,065.2 2,116 Finance companies 537.7 551.4 695.1 682.7 727.3 682.7 686.0 706.5 718.7 727 Credit unions 498.0 505.1 532.0 636.7 662.6 636.7 645.0 654.0 661.6 662 Federal government7 1,319.2 1,381.0 1,436.4 1,487.3 1,460.1 1,487.3 1,499.7 1,490.1 1,463.1 1,460

 Nonprofit and educational institutions8 27.3 24.1 22.0 18.7 16.8 18.7 18.6 18.2 17.3 16

 Nonfinancial business 35.8 35.8 35.8 35.8 35.8 35.8 34.7 35.0 35.1 35Major types of credit, by holder Revolving 1,092.0 974.6 1,053.5 1,212.6 1,318.8 1,212.6 1,178.9 1,224.2 1,253.8 1,318 Depository institutions 983.6 875.3 944.2 1,095.7 1,195.5 1,095.7 1,064.8 1,107.3 1,135.1 1,195 Finance companies 21.9 17.1 24.7 22.3 20.8 22.3 20.6 20.8 20.4 20 Credit unions 66.5 62.3 64.7 74.7 82.5 74.7 74.6 77.0 79.2 82 Federal government7 ... ... ... ... ... ... ... ... ... 

 Nonprofit and educational institutions8 ... ... ... ... ... ... ... ... ... 

 Nonfinancial business 20.0 20.0 20.0 20.0 19.9 20.0 18.9 19.2 19.2 19 Nonrevolving 3,100.2 3,210.3 3,495.0 3,681.4 3,700.5 3,681.4 3,707.6 3,716.6 3,707.1 3,700 Depository institutions 790.5 812.2 883.0 937.1 921.1 937.1 937.7 929.7 930.1 921 Finance companies 515.9 534.3 670.4 660.5 706.4 660.5 665.4 685.7 698.3 706 Credit unions 431.5 442.8 467.4 562.0 580.1 562.0 570.4 577.0 582.4 580 Federal government7 1,319.2 1,381.0 1,436.4 1,487.3 1,460.1 1,487.3 1,499.7 1,490.1 1,463.1 1,460

 Nonprofit and educational institutions8 27.3 24.1 22.0 18.7 16.8 18.7 18.6 18.2 17.3 16

 Nonfinancial business 15.8 15.8 15.8 15.8 15.8 15.8 15.9 15.8 15.9 15Memo Student Loans9 1,637.9 1,693.9 1,733.4 1,764.1 1,727.2 1,764.1 1,774.9 1,761.2 1,732.6 1,727

 Motor Vehicle Loans10 1,184.1 1,224.4 1,392.7 1,499.5 1,555.3 1,499.5 1,516.4 1,535.2 1,552.4 1,555

Footnotes

 1. Covers most credit extended to individuals, excluding loans secured by real estate. Includes receivables carried on the balance sheet of the institutio of pools upon which securities have been issued; under the current accounting rule, most of those balances remain on the balance sheets of the loan  2. The series for consumer credit outstanding and its components may contain breaks that result from discontinuities in source data. Percent changes a the effect of such breaks. In addition, percent changes are at a simple annual rate and are calculated from unrounded data. 3. Includes motor vehicle loans and all other loans not included in revolving credit, such as loans for mobile homes, education, boats, trailers, or vacatio be secured or unsecured. 4. Flow data represent changes in the level of credit due to economic and financial activity, and exclude breaks in the data series due to changes in met and other technical aspects of the estimation that could affect the level of credit. 5. Interest rates are annual percentage rates (APR) as specified by the Federal Reserve’s Regulation Z. Interest rates for new-car loans and personal lo banks are simple unweighted averages of each bank’s most common rate charged during the first calendar week of the middle month of each quarte accounts, the rate for all accounts is the stated APR averaged across all credit card accounts at all reporting banks. The rate for accounts assessed i annualized ratio of total finance charges at all reporting banks to the total average daily balances against which the finance charges were assessed (e for which no finance charges were assessed).
Consumer Credit Outstanding (Flows)

Not seasonally adjustedBillions of dollars, annual rate

2022 2023 

2019 2020 2021 2022 2023r Q4r Q1r Q2r Q3r Q4

Total 185.1 -12.0 237.8 345.5 125.2 418.5 -30.1 217.3 80.4 233Major holders Depository institutions 86.6 -91.3 139.7 205.6 83.9 292.2 -121.3 138.0 112.8 205 Finance companies 3.4 13.7 17.8 -12.4 44.6 12.3 13.3 81.9 48.8 34 Credit unions 16.8 7.1 26.9 104.7 25.9 81.6 33.1 36.0 30.3 4 Federal government7 83.0 61.7 55.4 51.0 -27.2 32.7 49.4 -38.2 -108.2 -11 Nonprofit and educational institutions8 -4.0 -3.2 -2.0 -3.4 -1.9 -3.1 -0.3 -1.5 -3.6 -2

 Nonfinancial business -0.7 0.0 0.0 0.0 0.0 2.8 -4.3 1.1 0.3 2Major types of credit, by holder Revolving 38.1 -122.1 65.6 159.1 106.2 317.9 -134.8 181.3 118.5 259 Depository institutions 36.4 -113.0 68.9 151.5 99.8 295.3 -123.6 170.0 111.2 241 Finance companies -1.9 -4.8 -5.6 -2.5 -1.4 2.2 -6.5 0.6 -1.4 1 Credit unions 4.2 -4.3 2.4 10.0 7.8 17.3 -0.3 9.6 8.6 13 Federal government7 ... ... ... ... ... ... ... ... ... 

 Nonprofit and educational institutions8 ... ... ... ... ... ... ... ... ... 

 Nonfinancial business -0.5 0.0 0.0 0.0 0.0 3.1 -4.3 1.1 0.1 3 Nonrevolving 147.0 110.1 172.2 186.4 19.0 100.6 104.7 36.0 -38.1 -26 Depository institutions 50.3 21.7 70.8 54.1 -16.0 -3.0 2.3 -32.0 1.6 -35 Finance companies 5.2 18.5 23.5 -9.9 46.0 10.2 19.8 81.3 50.2 32 Credit unions 12.7 11.3 24.6 94.6 18.1 64.2 33.4 26.4 21.7 -9 Federal government7 83.0 61.7 55.4 51.0 -27.2 32.7 49.4 -38.2 -108.2 -11 Nonprofit and educational institutions8 -4.0 -3.2 -2.0 -3.4 -1.9 -3.1 -0.3 -1.5 -3.6 -2

 Nonfinancial business -0.1 0.0 0.0 0.0 0.0 -0.3 0.1 0.0 0.2 -0Memo Student Loans9 71.0 56.0 39.6 30.7 -36.9 9.3 43.4 -54.7 -114.7 -21

 Motor Vehicle Loans10 44.5 40.3 90.4 106.8 55.9 90.4 67.6 75.0 69.1 11

 6. Covers most of the captive and non-captive finance companies. The series of finance company new car loan terms included in previous releases are  available from the Data Download Program. 7. Includes student loans originated by the Department of Education under the Federal Direct Loan Program and the Perkins Loan Program, as well as  Program loans that the government purchased under the Ensuring Continued Access to Student Loans Act. 8. Includes student loans originated under the Federal Family Education Loan Program and held by educational institutions and nonprofit organizations. 9. Includes student loans originated under the Federal Family Education Loan Program and the Direct Loan Program; Perkins loans; and private student  guarantees. This memo item includes loan balances that are not included in the nonrevolving credit balances. For additional information, see public d this memo item are released for each quarter-end month.10. Includes motor vehicle loans owned and securitized by depository institutions, finance companies, credit unions, and nonfinancial business. Includes  cars and other vehicles such as minivans, vans, sport-utility vehicles, pickup trucks, and similar light trucks for personal use. Loans for boats, motorcy vehicles are not included. Data for this memo item are released for each quarter-end month.

r=revised. p=preliminary. n.a.=not available. ...=not applicable.