Accessible Version

A Note On Revolving Credit Estimates, Accessible Data

Figure 1. Revolving Credit Growth Rates and Outstanding Balances

Panel (a). Annual Growth Rates from G.19 and H.8
Annual growth rate (percent)

Date G19 H8
2014-01 9.49 0.40
2014-02 8.09 3.90
2014-03 2.85 3.70
2014-04 8.75 5.70
2014-05 4.76 6.60
2014-06 -0.19 2.90
2014-07 7.86 4.00
2014-08 2.66 4.00
2014-09 1.40 1.80
2014-10 3.56 -7.40
2014-11 -10.28 5.80
2014-12 7.08 3.40
2015-01 4.35 4.20
2015-02 4.43 2.00
2015-03 9.56 2.20
2015-04 8.60 9.30
2015-05 3.36 4.30
2015-06 7.92 4.80
2015-07 6.44 7.80
2015-08 4.95 7.90
2015-09 8.61 7.70
2015-10 2.62 8.20
2015-11 -3.11 4.80
2015-12 9.58 5.50
2016-01 6.56 9.60
2016-02 4.70 0.80
2016-03 16.39 12.20
2016-04 5.26 6.90
2016-05 4.26 5.30
2016-06 11.00 7.60
2016-07 6.29 7.30
2016-08 6.74 5.20
2016-09 5.35 4.70
2016-10 1.55 4.70
2016-11 6.94 3.90
2016-12 5.36 7.10
2017-01 3.85 3.10
2017-02 6.93 2.70
2017-03 6.00 2.20
2017-04 2.70 3.20
2017-05 5.75 2.10
2017-06 5.65 5.60
2017-07 3.16 7.00
2017-08 5.46 3.50
2017-09 7.09 9.70
2017-10 10.26 5.10
2017-11 7.71 11.60
2017-12 4.50 4.80
2018-01 6.94 6.90
2018-02 2.36 0.80
2018-03 4.15 2.90
2018-04 0.93 2.30
2018-05 5.82 4.80
2018-06 -0.51 5.90
2018-07 3.19 0.90
2018-08 7.18 5.20
2018-09 2.38 4.00
2018-10 7.66 4.60
2018-11 2.25 6.50
2018-12 1.06 -0.60
2019-01 7.61 3.20
2019-02 2.88 5.60
2019-03 0.23 4.50
2019-04 7.80 3.10
2019-05 3.17 6.50
2019-06 -0.84 3.80
2019-07 12.52 1.40
2019-08 1.16 7.00
2019-09 0.28 1.60
2019-10 3.43 0.90
2019-11 -11.79 0.40
2019-12 16.51 4.00
2020-01 3.85 7.40
2020-02 5.32 4.40
2020-03 -25.72 0.30
2020-04 -63.52 -73.70
2020-05 -29.78 -41.40
2020-06 -5.60 -14.30
2020-07 -2.59 -5.70
2020-08 -12.46 -8.50
2020-09 3.23 -2.40
2020-10 -4.79 -3.00
2020-11 -9.91 -1.60
2020-12 2.82 -1.10
2021-01 -4.04 -5.00
2021-02 4.32 -1.40
2021-03 -3.82 -1.80
2021-04 -1.64 -10.00
2021-05 9.28 15.80
2021-06 18.52 12.70
2021-07 5.89 10.30
2021-08 3.52 11.30
2021-09 12.55 6.50
2021-10 9.42 13.60
2021-11 13.14 17.60
2021-12 10.80 14.10
2022-01 10.26 12.40
2022-02 13.86 13.50
2022-03 24.85 23.80
2022-04 13.57 22.20
2022-05 10.06 17.20
2022-06 22.95 19.70
2022-07 11.67 19.50
2022-08 12.71 13.80
2022-09 10.41 15.00
2022-10 15.34 14.00
2022-11 12.10 8.30
2022-12 12.08 7.10
2023-01 10.74 16.10
2023-02 5.07 11.10
2023-03 11.71 14.60
2023-04 11.23 10.10
2023-05 7.72 8.90
2023-06 5.75 7.20
2023-07 8.90 6.50
2023-08 12.28 11.10
2023-09 5.37 10.40
2023-10 5.20 4.40
2023-11 13.35 9.30
2023-12 3.84 2.50

Panel (b). Revolving Credit Outstanding by Data Source
Billions of dollars

Date G19 CCP H8 Y14M SCF
1/31/2014 860.90 NA 600.37 NA NA
2/28/2014 866.70 NA 602.21 NA NA
3/31/2014 868.75 769.63 603.84 566.67 NA
4/30/2014 875.09 NA 606.61 NA NA
5/31/2014 878.56 NA 609.92 NA NA
6/30/2014 878.42 772.31 611.25 570.09 NA
7/31/2014 884.17 NA 613.18 NA NA
8/31/2014 886.13 NA 615.21 NA NA
9/30/2014 887.17 780.07 617.49 574.13 NA
10/31/2014 889.80 NA 618.72 NA NA
11/30/2014 882.17 NA 621.63 NA NA
12/31/2014 887.38 788.35 623.26 577.34 NA
1/31/2015 880.10 NA 625.46 NA NA
2/28/2015 883.35 NA 626.52 NA NA
3/31/2015 890.38 796.64 627.55 585.30 NA
4/30/2015 896.76 NA 632.43 NA NA
5/31/2015 899.27 NA 634.67 NA NA
6/30/2015 905.20 809.27 637.18 589.85 NA
7/31/2015 910.06 NA 641.23 NA NA
8/31/2015 913.81 NA 645.42 NA NA
9/30/2015 920.37 817.48 649.32 596.53 NA
10/31/2015 922.38 NA 653.32 NA NA
11/30/2015 919.98 NA 655.86 NA NA
12/31/2015 898.08 817.36 658.83 600.02 NA
1/31/2016 902.99 NA 664.21 NA NA
2/29/2016 906.53 NA 664.63 NA NA
3/31/2016 918.91 828.67 671.29 611.64 NA
4/30/2016 922.94 NA 675.11 NA NA
5/31/2016 926.22 NA 678.01 NA NA
6/30/2016 934.71 840.97 687.59 617.67 467.71
7/31/2016 939.61 NA 697.17 NA NA
8/31/2016 944.89 NA 700.28 NA NA
9/30/2016 949.10 853.96 703.10 631.65 NA
10/31/2016 950.33 NA 705.74 NA NA
11/30/2016 955.82 NA 707.85 NA NA
12/31/2016 960.10 870.49 711.89 640.06 NA
1/31/2017 963.17 NA 713.98 NA NA
2/28/2017 968.74 NA 715.62 NA NA
3/31/2017 973.58 886.92 717.10 650.83 NA
4/30/2017 975.77 NA 719.13 NA NA
5/31/2017 980.45 NA 720.46 NA NA
6/30/2017 985.06 900.55 724.64 656.93 NA
7/31/2017 987.65 NA 728.61 NA NA
8/31/2017 992.14 NA 730.60 NA NA
9/30/2017 998.00 914.36 736.46 666.85 NA
10/31/2017 1006.54 NA 748.73 NA NA
11/30/2017 1013.01 NA 760.74 NA NA
12/31/2017 1016.81 926.02 763.67 679.62 NA
1/31/2018 1022.69 NA 768.00 NA NA
2/28/2018 1024.70 NA 768.45 NA NA
3/31/2018 1028.24 937.83 771.63 680.47 NA
4/30/2018 1024.11 NA 785.92 NA NA
5/31/2018 1027.43 NA 789.15 NA NA
6/30/2018 1025.68 946.46 792.83 687.24 NA
7/31/2018 1036.01 NA 792.73 NA NA
8/31/2018 1042.21 NA 796.17 NA NA
9/30/2018 1044.28 955.72 798.86 696.15 NA
10/31/2018 1050.94 NA 801.91 NA NA
11/30/2018 1052.92 NA 806.21 NA NA
12/31/2018 1053.85 964.79 805.97 700.80 NA
1/31/2019 1060.53 NA 808.94 NA NA
2/28/2019 1063.07 NA 812.73 NA NA
3/31/2019 1063.27 976.56 815.80 710.18 NA
4/30/2019 1070.19 NA 818.10 NA NA
5/31/2019 1073.02 NA 821.91 NA NA
6/30/2019 1072.27 986.97 823.89 718.41 553.70
7/31/2019 1083.46 NA 824.91 NA NA
8/31/2019 1084.50 NA 829.80 NA NA
9/30/2019 1084.75 998.50 830.86 723.94 NA
10/31/2019 1087.86 NA 837.23 NA NA
11/30/2019 1077.17 NA 839.85 NA NA
12/31/2019 1091.99 1015.74 842.66 734.07 NA
1/31/2020 1095.49 NA 847.86 NA NA
2/29/2020 1100.35 NA 850.99 NA NA
3/31/2020 1081.47 1024.85 851.19 742.75 NA
4/30/2020 1024.22 NA 798.85 NA NA
5/31/2020 998.80 NA 771.30 NA NA
6/30/2020 994.13 924.37 762.19 659.72 NA
7/31/2020 991.99 NA 758.72 NA NA
8/31/2020 981.69 NA 753.34 NA NA
9/30/2020 984.33 912.18 751.80 641.78 NA
10/31/2020 980.40 NA 750.99 NA NA
11/30/2020 972.31 NA 750.30 NA NA
12/31/2020 974.59 900.36 749.62 633.57 NA
1/31/2021 971.31 NA 746.53 NA NA
2/28/2021 974.81 NA 745.57 NA NA
3/31/2021 971.71 885.14 744.45 620.52 NA
4/30/2021 970.38 NA 738.28 NA NA
5/31/2021 977.88 NA 747.96 NA NA
6/30/2021 1006.25 883.99 755.93 627.77 NA
7/31/2021 1011.19 NA 762.45 NA NA
8/31/2021 1014.16 NA 769.57 NA NA
9/30/2021 1024.77 901.40 773.77 640.27 NA
10/31/2021 1032.82 NA 782.59 NA NA
11/30/2021 1044.12 NA 794.06 NA NA
12/31/2021 1053.52 929.22 803.41 667.22 NA
1/31/2022 1062.54 NA 811.67 NA NA
2/28/2022 1074.81 NA 820.82 NA NA
3/31/2022 1097.06 954.75 837.09 689.60 NA
4/30/2022 1109.47 NA 852.57 NA NA
5/31/2022 1118.77 NA 864.84 NA NA
6/30/2022 1140.17 990.20 879.04 723.56 624.52
7/31/2022 1151.25 NA 893.35 NA NA
8/31/2022 1163.44 NA 903.60 NA NA
9/30/2022 1173.53 1025.68 914.85 757.64 NA
10/31/2022 1188.53 NA 925.64 NA NA
11/30/2022 1200.51 NA 931.96 NA NA
12/31/2022 1212.60 1063.03 937.49 784.23 NA
1/31/2023 1223.45 NA 950.09 NA NA
2/28/2023 1228.62 NA 958.93 NA NA
3/31/2023 1240.62 1106.01 970.61 817.43 NA
4/30/2023 1252.23 NA 978.81 NA NA
5/31/2023 1260.28 NA 986.10 NA NA
6/30/2023 1266.32 1143.55 992.02 843.63 NA
7/31/2023 1275.72 NA 997.42 NA NA
8/31/2023 1288.77 NA 1006.64 NA NA
9/30/2023 1294.54 1181.06 1015.27 866.13 NA
10/31/2023 1300.14 NA 1019.04 NA NA
11/30/2023 1314.61 NA 1026.92 NA NA
12/31/2023 1318.82 1211.36 1028.96 880.34 NA

Note: The left panel shows the annualized growth rates for revolving credit as reported in the G.19 and H.8 statistical releases. The right panel shows total outstanding revolving credit estimates obtained from different sources. The SCF estimate combines convenience credit or balances that consumers may pay off in full without incurring charges, that is collected separately on the survey with revolving credit. With the exception of SCF, data are seasonally adjusted.

Source: Federal Reserve Board, G.19 Statistical Release, "Consumer Credit"; FRB, H.8 Statistical Release, "Assets and Liabilities of Commercial Banks in the United States"; FRB, Survey of Consumer Finances; Federal Reserve Bank of Philadelphia, Large Bank Credit Card and Mortgage Data; and Federal Reserve Bank of New York Consumer Credit Panel (CCP)/Equifax.

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Last Update: June 14, 2024