Borrowing spiking along with rates
There's a winning combo/s/
Of course BAC is bullish. We've seen this show many times before. They look great until the writedowns. C suite gets bonuses, then retire with bagholder funded golden parachute What's not to love?
Release Date *: May 6, 2022
Notes about the Data
Beginning with the April 2022 G.19 Consumer Credit release, scheduled to be published on June 7, 2022, the release will no longer report the Commercial Bank Interest Rates for 48-month New Car Loans. Instead, the release will report the Commercial Bank Interest Rates for 72-month New Car Loans. For more information, please see the announcement posted on March 7, 2022.
March 2022
Consumer credit increased at a seasonally adjusted annual rate of 9.7 percent during the first quarter. Revolving credit increased at an annual rate of 21.4 percent, while nonrevolving credit increased at an annual rate of 6.1 percent. In March, consumer credit increased at an annual rate of 14 percent.
Consumer Credit Outstanding 1 Seasonally adjusted. Billions of dollars except as noted. Make Full Screen | | 2021 2022
| 2017 2018 2019 2020 2021 Q1r Q2r Q3r Q4r Q1p Janr Febr Marp Total percent change (annual rate) 2 | 5.3 | 4.5 | 4.6 | -0.3 | 5.9 | 4.2 | 6.5 | 5.4 | 7.0 | 9.7 | 4.6 | 10.2 | 14.0 | Revolving | 5.9 | 3.7 | 3.6 | -11.2 | 6.9 | -0.7 | 6.7 | 8.3 | 12.7 | 21.4 | 11.8 | 16.2 | 35.3 | Nonrevolving 3 | 5.1 | 4.8 | 5.0 | 3.6 | 5.6 | 5.6 | 6.5 | 4.5 | 5.3 | 6.1 | 2.4 | 8.3 | 7.4 | Total flow (annual rate) 2, 4 | 194.3 | 172.7 | 185.1 | -12.0 | 247.0 | 174.6 | 277.0 | 232.1 | 304.3 | 428.4 | 203.6 | 452.4 | 629.2 | Revolving | 56.7 | 37.3 | 38.1 | -122.1 | 67.1 | -6.6 | 64.9 | 82.1 | 128.0 | 223.1 | 122.5 | 170.4 | 376.4 | Nonrevolving 3 | 137.6 | 135.3 | 147.0 | 110.1 | 179.9 | 181.2 | 212.0 | 150.0 | 176.2 | 205.3 | 81.1 | 282.0 | 252.8 | Total outstanding | 3,830.8 | 4,007.0 | 4,192.2 | 4,184.9 | 4,431.9 | 4,228.6 | 4,297.8 | 4,355.9 | 4,431.9 | 4,539.0 | 4,448.9 | 4,486.6 | 4,539.0 | Revolving | 1,016.8 | 1,053.8 | 1,092.0 | 974.6 | 1,041.7 | 972.9 | 989.2 | 1,009.7 | 1,041.7 | 1,097.5 | 1,051.9 | 1,066.1 | 1,097.5 | Nonrevolving 3 | 2,813.9 | 2,953.2 | 3,100.2 | 3,210.3 | 3,390.2 | 3,255.6 | 3,308.6 | 3,346.2 | 3,390.2 | 3,441.5 | 3,397.0 | 3,420.5 | 3,441.5 | | | Terms of Credit
Not seasonally adjusted. Percent except as noted.
Commercial bank interest rates 5 New car loans 48-month | 4.61 | 5.03 | 5.39 | 5.09 | 5.05 | 5.21 | 5.28 | 5.14 | 4.58 | 4.90 | n.a. | 4.90 | n.a. | 60-month | 4.33 | 5.02 | 5.31 | 5.02 | 4.82 | 4.96 | 5.05 | 4.60 | 4.67 | 4.55 | n.a. | 4.55 | n.a. | Credit card plans All accounts | 12.89 | 14.22 | 15.05 | 14.71 | 14.60 | 14.75 | 14.61 | 14.54 | 14.51 | 14.56 | n.a. | 14.56 | n.a. | Accounts assessed interest | 14.44 | 16.04 | 16.98 | 16.28 | 16.45 | 15.91 | 16.30 | 17.13 | 16.44 | 16.17 | n.a. | 16.17 | n.a. | Personal loans 24-month | 10.13 | 10.32 | 10.32 | 9.51 | 9.38 | 9.46 | 9.58 | 9.39 | 9.09 | 9.41 | n.a. | 9.41 | n.a. | | | Finance companies (new car loans) 6 Interest rates | 5.4 | 6.1 | 6.4 | 5.2 | 4.6 | 4.8 | 4.9 | 4.5 | 4.4 | n.a. | n.a. | n.a. | n.a. | Maturity (months) | 67 | 66 | 67 | 69 | 67 | 67 | 67 | 67 | 67 | n.a. | n.a. | n.a. | n.a. | Amount financed (dollars) | 29,288 | 30,173 | 31,311 | 34,449 | 35,307 | 34,207 | 33,915 | 35,284 | 37,821 | n.a. | n.a. | n.a. | n.a. |
Consumer Credit Outstanding (Levels) 1 Not seasonally adjusted. Billions of dollars. Make Full Screen | | 2021 2022
| 2017 2018 2019 2020 2021 Q1r Q2r Q3r Q4 Q1p Janr Febr Marp Total | 3,830.8 | 4,007.0 | 4,192.2 | 4,184.9 | 4,431.9 | 4,167.2 | 4,259.5 | 4,338.0 | 4,431.9 | 4,477.6 | 4,434.1 | 4,444.5 | 4,477.6 | | | Major holders Depository institutions | 1,633.2 | 1,687.4 | 1,774.1 | 1,687.5 | 1,827.2 | 1,635.1 | 1,702.6 | 1,743.3 | 1,827.2 | 1,842.9 | 1,811.1 | 1,813.2 | 1,842.9 | Finance companies | 541.3 | 534.4 | 537.7 | 551.4 | 577.5 | 560.5 | 572.3 | 578.0 | 577.5 | 577.0 | 577.0 | 581.0 | 577.0 | Credit unions | 439.3 | 481.2 | 498.0 | 505.1 | 532.0 | 502.9 | 512.4 | 522.0 | 532.0 | 546.5 | 533.6 | 538.7 | 546.5 | Federal government 7 | 1,145.6 | 1,236.3 | 1,319.2 | 1,381.0 | 1,436.4 | 1,410.1 | 1,413.9 | 1,436.4 | 1,436.4 | 1,453.9 | 1,454.0 | 1,453.8 | 1,453.9 | Nonprofit and educational institutions 8 | 35.1 | 31.3 | 27.3 | 24.1 | 23.1 | 23.9 | 23.6 | 23.3 | 23.1 | 22.6 | 22.9 | 22.7 | 22.6 | Nonfinancial business | 36.2 | 36.5 | 35.8 | 35.8 | 35.8 | 34.7 | 34.8 | 35.0 | 35.8 | 34.7 | 35.5 | 35.0 | 34.7 | | | Major types of credit, by holder Revolving | 1,016.8 | 1,053.8 | 1,092.0 | 974.6 | 1,041.7 | 911.1 | 950.9 | 971.2 | 1,041.7 | 1,035.7 | 1,019.7 | 1,015.9 | 1,035.7 | Depository institutions | 912.0 | 947.2 | 983.6 | 875.3 | 943.6 | 817.6 | 856.2 | 875.5 | 943.6 | 939.7 | 922.8 | 920.1 | 939.7 | Finance companies | 26.6 | 23.7 | 21.9 | 17.1 | 13.4 | 15.6 | 15.4 | 14.9 | 13.4 | 12.9 | 13.2 | 13.1 | 12.9 | Credit unions | 58.0 | 62.4 | 66.5 | 62.3 | 64.7 | 59.1 | 60.3 | 61.7 | 64.7 | 64.2 | 64.2 | 63.6 | 64.2 | Federal government 7 | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | Nonprofit and educational institutions 8 | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | Nonfinancial business | 20.2 | 20.5 | 20.0 | 20.0 | 20.0 | 18.8 | 18.9 | 19.1 | 20.0 | 18.8 | 19.5 | 19.1 | 18.8 | Nonrevolving | 2,813.9 | 2,953.2 | 3,100.2 | 3,210.3 | 3,390.2 | 3,256.1 | 3,308.6 | 3,366.9 | 3,390.2 | 3,442.0 | 3,414.3 | 3,428.6 | 3,442.0 | Depository institutions | 721.2 | 740.2 | 790.5 | 812.2 | 883.6 | 817.5 | 846.3 | 867.8 | 883.6 | 903.2 | 888.2 | 893.1 | 903.2 | Finance companies | 514.7 | 510.7 | 515.9 | 534.3 | 564.0 | 545.0 | 556.8 | 563.1 | 564.0 | 564.1 | 563.8 | 567.9 | 564.1 | Credit unions | 381.3 | 418.8 | 431.5 | 442.8 | 467.4 | 443.8 | 452.1 | 460.3 | 467.4 | 482.3 | 469.4 | 475.1 | 482.3 | Federal government 7 | 1,145.6 | 1,236.3 | 1,319.2 | 1,381.0 | 1,436.4 | 1,410.1 | 1,413.9 | 1,436.4 | 1,436.4 | 1,453.9 | 1,454.0 | 1,453.8 | 1,453.9 | Nonprofit and educational institutions 8 | 35.1 | 31.3 | 27.3 | 24.1 | 23.1 | 23.9 | 23.6 | 23.3 | 23.1 | 22.6 | 22.9 | 22.7 | 22.6 | Nonfinancial business | 16.0 | 16.0 | 15.8 | 15.8 | 15.8 | 15.8 | 15.8 | 15.9 | 15.8 | 15.8 | 15.9 | 15.9 | 15.8 | | | Memo Student Loans 9 | 1,488.9 | 1,570.5 | 1,646.4 | 1,702.6 | 1,747.3 | 1,728.1 | 1,730.3 | 1,750.7 | 1,747.3 | 1,761.9 | n.a. | n.a. | 1,761.9 | Motor Vehicle Loans 10 | 1,102.0 | 1,139.6 | 1,184.1 | 1,224.4 | 1,314.6 | 1,240.7 | 1,275.2 | 1,300.4 | 1,314.6 | 1,335.5 | n.a. | n.a. | 1,335.5 |
Consumer Credit Outstanding (Flows) 1 Not seasonally adjusted. Billions of dollars, annual rate. Make Full Screen | | 2021 2022 | | 2017 2018 2019 2020 2021 Q1r Q2r Q3r Q4 Q1p Janr Febr Marp Total | 194.3 | 172.7 | 185.1 | -12.0 | 247.0 | -70.9 | 369.4 | 314.0 | 375.5 | 182.9 | 26.1 | 125.3 | 397.3 | | | Major holders Depository institutions | 70.6 | 50.6 | 86.6 | -91.3 | 139.7 | -209.6 | 270.0 | 162.9 | 335.5 | 63.0 | -193.1 | 25.8 | 356.2 | Finance companies | -7.1 | -6.9 | 3.4 | 13.7 | 26.1 | 36.6 | 46.9 | 22.8 | -2.0 | -1.7 | -5.1 | 47.7 | -47.6 | Credit unions | 42.6 | 41.9 | 16.8 | 7.1 | 26.9 | -8.6 | 37.9 | 38.3 | 40.2 | 57.8 | 18.3 | 62.2 | 92.7 | Federal government 7 | 96.3 | 90.7 | 83.0 | 61.7 | 55.4 | 116.5 | 15.3 | 89.9 | -0.2 | 70.4 | 212.2 | -2.7 | 1.7 | Nonprofit and educational institutions 8 | -6.2 | -3.9 | -4.0 | -3.1 | -1.1 | -1.1 | -1.0 | -1.1 | -1.2 | -1.9 | -1.5 | -2.6 | -1.5 | Nonfinancial business | -2.0 | 0.2 | -0.7 | 0.0 | 0.0 | -4.6 | 0.3 | 1.2 | 3.2 | -4.6 | -4.6 | -5.0 | -4.3 | | | Major types of credit, by holder Revolving | 56.7 | 37.3 | 38.1 | -122.1 | 67.1 | -253.9 | 159.1 | 81.1 | 282.1 | -24.2 | -263.4 | -46.1 | 237.0 | Depository institutions | 52.5 | 35.5 | 36.4 | -113.0 | 68.4 | -230.7 | 154.6 | 77.2 | 272.4 | -15.6 | -249.3 | -33.0 | 235.6 | Finance companies | 1.1 | -2.9 | -1.9 | -4.8 | -3.7 | -6.0 | -0.6 | -2.2 | -5.8 | -2.0 | -2.2 | -2.0 | -1.7 | Credit unions | 4.8 | 4.4 | 4.2 | -4.3 | 2.4 | -12.6 | 4.7 | 5.4 | 12.0 | -1.9 | -6.0 | -6.6 | 6.8 | Federal government 7 | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | Nonprofit and educational institutions 8 | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | Nonfinancial business | -1.7 | 0.3 | -0.5 | 0.0 | 0.0 | -4.6 | 0.4 | 0.7 | 3.6 | -4.7 | -5.9 | -4.5 | -3.6 | Nonrevolving | 137.6 | 135.3 | 147.0 | 110.1 | 179.9 | 183.0 | 210.3 | 232.9 | 93.4 | 207.1 | 289.5 | 171.4 | 160.2 | Depository institutions | 18.2 | 15.1 | 50.3 | 21.7 | 71.3 | 21.1 | 115.4 | 85.8 | 63.1 | 78.5 | 56.2 | 58.8 | 120.7 | Finance companies | -8.1 | -4.1 | 5.2 | 18.5 | 29.7 | 42.6 | 47.5 | 25.0 | 3.8 | 0.3 | -2.9 | 49.7 | -45.8 | Credit unions | 37.7 | 37.6 | 12.7 | 11.3 | 24.6 | 3.9 | 33.2 | 32.8 | 28.2 | 59.7 | 24.3 | 68.9 | 86.0 | Federal government 7 | 96.3 | 90.7 | 83.0 | 61.7 | 55.4 | 116.5 | 15.3 | 89.9 | -0.2 | 70.4 | 212.2 | -2.7 | 1.7 | Nonprofit and educational institutions 8 | -6.2 | -3.9 | -4.0 | -3.1 | -1.1 | -1.1 | -1.0 | -1.1 | -1.2 | -1.9 | -1.5 | -2.6 | -1.5 | Nonfinancial business | -0.3 | -0.1 | -0.1 | 0.0 | 0.0 | 0.0 | -0.1 | 0.4 | -0.3 | 0.0 | 1.3 | -0.5 | -0.7 | | | Memo Student Loans 9 | 83.6 | 81.6 | 75.8 | 56.2 | 44.7 | 102.1 | 8.6 | 81.8 | -13.8 | 58.4 | n.a. | n.a. | 58.4 | Motor Vehicle Loans 10 | 39.7 | 33.7 | 44.5 | 40.3 | 90.1 | 65.2 | 138.0 | 100.7 | 56.7 | 83.6 | n.a. | n.a. | 83.6 |
*This release is generally issued on the fifth business day of each month. See the Statistical Release Schedule for more information.
Footnotes Covers most credit extended to individuals, excluding loans secured by real estate. Includes receivables carried on the balance sheet of the institution as well as outstanding balances 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 originator. The series for consumer credit outstanding and its components may contain breaks that result from discontinuities in source data. Percent changes are adjusted to exclude the effect of such breaks. In addition, percent changes are at a simple annual rate and are calculated from unrounded data. Includes motor vehicle loans and all other loans not included in revolving credit, such as loans for mobile homes, education, boats, trailers, or vacations. These loans may be secured or unsecured. 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 methodology, source data, and other technical aspects of the estimation that could affect the level of credit. Interest rates are annual percentage rates (APR) as specified by the Federal Reserve's Regulation Z. Interest rates for new-car loans and personal loans at commercial banks are simple unweighted averages of each bank's most common rate charged during the first calendar week of the middle month of each quarter. For credit card 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 interest is the annualized ratio of total finance charges at all reporting banks to the total average daily balances against which the finance charges were assessed (excludes accounts for which no finance charges were assessed). Covers most of the captive and non-captive finance companies. The series of finance company new car loan terms included in previous releases are discontinued. They remain available from the Data Download Program. Includes student loans originated by the Department of Education under the Federal Direct Loan Program and the Perkins Loan Program, as well as Federal Family Education Program loans that the government purchased under the Ensuring Continued Access to Student Loans Act. Includes student loans originated under the Federal Family Education Loan Program and held by educational institutions and nonprofit organizations. Includes student loans originated under the Federal Family Education Loan Program and the Direct Loan Program; Perkins loans; and private student loans without government guarantees. This memo item includes loan balances that are not included in the nonrevolving credit balances. For additional information, see public documentation. Data for this memo item are released for each quarter-end month. Includes motor vehicle loans owned and securitized by depository institutions, finance companies, credit unions, and nonfinancial business. Includes loans for passenger cars and other vehicles such as minivans, vans, sport-utility vehicles, pickup trucks, and similar light trucks for personal use. Loans for boats, motorcycles and recreational 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.
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Last Update: May 06, 2022
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