agrippa1 Posted June 1, 2010 Report Share Posted June 1, 2010 Anyone make any sense of this graph? It shows that consumer loans were up over $350 B from two months ago! Most of that is credit card debt. WTF??? Quote Link to comment Share on other sites More sharing options...
softwareNerd Posted June 1, 2010 Report Share Posted June 1, 2010 From what I can tell, this does not reflect an increase in consumer credit as such, but only of consumer credit classified as being from banks. The Fed breaks down consumer credit by the following sources: Commercial banks Finance companies Credit unions Savings institutions Nonfinancial business Pools of securitized assets The big change comes because a big chunk of credit moved from "Pools of Securitized Assets" to "Commercial Banks" in March. The Fed says "The shift of consumer credit from pools of securitized assets to other categories is largely due to financial institutions' implementation of the FAS 166/167 accounting rules." The total revolving credit has gone dropped slightly. ref: G.19 Quote Link to comment Share on other sites More sharing options...
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