Consumer credit outstanding, United States

Consumer credit outstanding is the total of credit card balances, auto loans, student loans and other personal loans owed by US households, as published monthly by the Federal Reserve in its G.19 release. The series here is seasonally adjusted and measured at the end of each month. It excludes loans secured by real estate, so mortgages and home equity lines are not part of it.

It shows how much households are borrowing to spend. Revolving credit, mostly credit cards, reacts quickly to income and interest rates, while nonrevolving credit, mainly auto and student loans, follows car sales and college costs. Banks use it to track demand for consumer lending and, together with delinquency data, the strain on household budgets.

Look at who holds the loans. A large share of student debt is owned by the federal government, not banks, so changes in student lending policy, such as payment pauses or forgiveness, move the total without any change in bank lending. The G.19 figures are also revised as new source data arrive, and securitized loans are included with the lender that originated them, so the series covers credit from banks, finance companies, credit unions and the government together.

Consumer credit outstanding is at its highest since the series starts in January 2006. Within ten years, consumer credit outstanding beats 100% of readings.

Total consumer credit owned and securitized, seasonally adjusted, end of month.

Federal Reserve Board publishes consumer credit outstanding monthly in G.19, in USD and is seasonally adjusted. Code: DTCTL.M. Monthly basis: each month shows the value at the end of the month, not an average. Method for consumer credit outstanding.