Consumer credit increased at an annual rate of 5 percent in May, down from a 10.5 percent rate in April, according to the Federal Reserve. Both revolving and nonrevolving credit increased at a slower rate, compared to the previous month. Commercial banks held 34 percent of total consumer credit, 31 percent of revolving credit and 37 percent of non-revolving consumer credit.
Categories:
Debt,Consumer Credit
Reporting Pub:
Aba.com
Reporting Date:
7/1/2001
Article
Title:
Briefing on the Economy, Credit, and Interest Rates from the Economic Advisory Committee of the American Bankers Association July 2001
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