Tuesday, November 8, 2011

Consumer credit extended by commercial banks down slightly

The amount of consumer credit extended by commercial banks remained relatively flat in September, down $1 billion to about $1.077 trillion from $1.078 trillion in August, according to data released by the Federal Reserve.

Revolving credit, which includes credit cards, was down $1.8 billion, to $584 billion in the non-seasonally adjusted data.

But nonrevolving credit, which includes car loans, was up $1 billion, to $493.6 billion.

Mortgages and other real-estate backed loans are not part of this measurement.