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This Consumer Credit trading object downloads total consumer credit historical data (for the United States) as well as the amount, in millions of dollars, of two types of credit: Revolving and Nonrevolving credits.
Consumer Credit refers to loans or line of credits that are borrowed by US consumers to buy goods and services (at the retail level). Consumers do not reimburse these credits immediately but instead repay them a later date. Examples of consumer credits include personal loans, retail loans, store cards, credit cards.
The Revolving credit is a kind of credit that unlike the nonrevolving credit does not impose a fixed number of payments. Credit cards are an example of a revolving credit that is used by consumers. One of the main characteristics of a revolving credit is that the borrower may or may not use the money at its disposal (defined by the credit limit). In case the consumer uses all or some of this money, he should make payments based solely on the amount he/she have used (plus interest).
Consumer Credit Historical Data spans from 1943 to present. It is seasonally adjusted and is provided by the Federal Reserve Statistical Release website. The total, revolving and nonrevolving numbers are associated with the following ticker symbols: ^Consumer_Credit, ^Consumer_Credit_Revolving, ^Consumer_Credit_Nonrevolving.
