How to Read the Fed's G.19 Consumer Credit Report — Revolving vs Nonrevolving, Rates, Flows and Holders

As of 24 October 2026 (KST); latest release: G.19 of October 7, 2026, with August 2026 data (preliminary). Primary sources: https://www.federalreserve.gov/releases/g19/20261007 and https://www.federalreserve.gov/releases/g19/^[1][2]

Comparison basis: levels and annual rates are the release's seasonally adjusted figures in billions of dollars; July is marked revised and August preliminary ("r=revised. p=preliminary."). Dollar changes are this page's calculations from those levels. The year-ago comparison uses the Fed's historical seasonally adjusted levels in millions of dollars, converted and rounded to $0.1 billion by this page; the release notes that its percent changes "are adjusted to exclude the effect of such breaks" and "are calculated from unrounded data", so they can differ from changes computed from levels. Sources for the table: [1] and [5].^[1][3][5]

In three lines 1. The G.19 measures credit extended to individuals, excluding loans secured by real estate, split into revolving credit (mostly credit cards) and nonrevolving credit (mostly auto and student loans). 2. In August 2026 consumer credit rose at a 1.9% annual rate to $5,196.8 billion; revolving credit fell at a 4.2% rate and nonrevolving rose at a 4.1% rate. 3. The next G.19 is scheduled for November 6, 2026, at 3:00 p.m.; the Fed's calendar lists the time without a time zone.^[1][3]

"The G.19 Statistical Release, "Consumer Credit," reports outstanding credit extended to individuals for household, family, and other personal expenditures, excluding loans secured by real estate." "Total consumer credit comprises two major types: revolving and nonrevolving."^[3]

Revolving credit: "Credit card loans comprise most of revolving consumer credit measured in the G.19, but other types, such as prearranged overdraft plans, are also included." Nonrevolving credit: "Nonrevolving credit is closed-end credit extended to consumers that is repaid on a prearranged repayment schedule and may be secured or unsecured." The Fed adds that "Consumer motor vehicle and education loans comprise the majority of nonrevolving credit".^[3]

Who holds it: "These major holders are depository institutions, finance companies, credit unions, the federal government, and nonprofit and educational institutions." "The federal government originates consumer credit solely in the form of nonrevolving student loans through the Department of Education (DoEd)."^[3]

Timing: "These data are released around the fifth business day of each month." The October calendar lists the G.19 at 3:00 p.m. on October 7 and the November calendar at 3:00 p.m. on November 6, 2026; the Fed's G.19 pages and calendars give the time without naming a time zone.^[1][2][6][7]

How the annual rate is computed. "The percent change in a given period is calculated as the flow of credit in the current period divided by the level in the previous period." The Technical Q&A adds: "If the flow is at a monthly rate, it can be converted to an annual rate by multiplying the monthly flow by 12."^[3][4]

Flows exclude breaks. "Flow data represent changes in the level of credit due to economic and financial activity, rather than breaks in the data series due to changes in methodology, source data, and other technical aspects of the estimation that could affect the level of credit." That is why "In periods that include a series break, this growth rate will differ from the growth rate calculated using only the level of consumer credit as the latter will reflect the break in the series."^[4]

December alignment. The Fed explains that its seasonal method means "for one month of every year, the seasonally unadjusted level equals the seasonally adjusted level."^[4]

Credit card rates. The rate for all accounts is defined in the footnotes: "For credit card accounts, the rate for all accounts is the stated APR averaged across all credit card accounts at all reporting banks." These rates are not seasonally adjusted, and the monthly June and July 2026 columns show n.a.^[1]

Revolving vs nonrevolving. In August 2026 revolving credit fell at a 4.2% annual rate while nonrevolving rose at a 4.1% rate (published). Revolving credit was $1,352.4 billion, about 26.0% of the $5,196.8 billion total (this page's calculation).^[1]

Monthly rate vs year-ago change. The August annual rate of 1.9% describes one month; the level was 2.7% above August 2025 (this page's calculation from the Fed's historical seasonally adjusted levels).^[1]

Holders. On a not seasonally adjusted basis, depository institutions held $2,099.9 billion in August 2026, the federal government $1,621.5 billion, credit unions $734.1 billion and finance companies $697.3 billion. The federal government's holdings are student loans, according to the Fed's description of the sector.^[1][3]

Seasonally adjusted vs not adjusted totals. August 2026 total consumer credit was $5,196.8 billion seasonally adjusted and $5,162.9 billion not seasonally adjusted; the two series serve different purposes and should not be mixed when computing changes (this page's reading).^[1]