Consumer Credit & Payments Statistics

Consumer Debt

Aggregate Indebtedness of Consumers

Total consumer credit outstanding is broken down into two categories in the G.19 report: revolving and nonrevolving credit. The G.19, a Federal Reserve report covering consumer credit, is released around the fifth business day of each month. The G.19 report contains statistics for the amounts of outstanding credit among several major holders of consumer credit. Also included are the terms of credit across a variety of institutions and types of loans.

Access at: http://www.federalreserve.gov/releases/g19/current/g19.htm

Consumer Credit (G.19)

(EOP, SA, Bil.$)	2006	2007	2008	2009	2010	2011	2012 Q3	2012 Q4
Total Outstanding	$2,361.8	$2,506.3	$2,525.9	$2,420.2	$2,522.2	$2,615.7	$2,723.8	$2,768.2
Revolving	$924.9	$1,002.9	$1,005.2	$917.2	$840.7	$842.5	$845.1	$845.8
Nonrevolving	$1,436.9	$1,503.4	$1,520.7	$1,503.0	$1,681.5	$1,773.2	$1,878.6	$1,922.4
Notes: Consumer credit covers most short- and intermediate-term credit extended to individuals. It includes revolving credit (credit card credit and balances outstanding on unsecured revolving lines of credit) and nonrevolving credit (such as secured and unsecured credit for automobiles, mobile homes, trailers, durable goods, vacations, and other purposes). Consumer credit excludes loans secured by real estate (such as mortgage loans, home equity loans, and home equity lines of credit). EOP = end of period, SA = seasonally adjusted

Consumer Debt Composition

The data used to show consumer debt composition come from two subsections of the Federal Reserve Flow of Funds Accounts (Z.1). These subsections (Tables D.1 and D.3) measure debt growth and debt outstanding in several sectors. The Federal Reserve Board of Governors releases these statistics during the second week of March, June, September, and December.

Access at: http://www.federalreserve.gov/releases/z1/ under "Debt growth, borrowing and debt outstanding tables."

Consumer Debt Composition and Growth

	2006	2007	2008	2009	2010	2011	Q3.12	Q4.12
Debt Outstanding (SA, $ Bil)
Credit Market	$12,856.0	$13,711.5	$13,688.0	$13,410.1	$13,073.7	$12,869.4	$12,755.1	$12,830.8
Home Mortgages	$9,896.5	$10,579.7	$10,519.1	$10,368.1	$9,889.8	$9,660.7	$9,449.3	$9,430.5
Consumer Credit	$2,385.0	$2,528.8	$2,548.9	$2,438.7	$2,541.6	$2,627.4	$2,733.8	$2,779.2
Growth Rate (SAAR, %)
Credit Market	9.62	6.41	-0.19	-1.71	-2.23	-1.60	-1.95	2.45
Home Mortgage	10.79	6.64	-0.60	-1.42	-2.98	-2.33	-3.09	-0.80
Consumer Credit	4.94	5.79	0.81	-4.62	-1.25	3.35	4.20	6.65
Notes: Home mortgages and consumer credit will not add up to total household debt because the other four components are unpublished. The four unpublished components are municipal securities, bank loans nec, other loans and advances, and commercial mortgages SA = seasonally adjusted, SAAR = seasonally adjusted annual rate Data are on an end-of-period basis and may differ from monthly average statistics in the Board's H.6 release.

Holders of Consumer Debt

The data used to show the level of consumer debt held by several sectors come from two subsections of the Federal Reserve Flow of Funds Accounts (Z.1). These subsections (Tables L.218 and L.222) measure the outstandings of home mortgages and consumer credit held as assets by government and nongovernment institutions. The Federal Reserve Board of Governors releases these statistics during the second week of March, June, September, and December.

Access at: http://www.federalreserve.gov/releases/z1/ under "Level tables"

Holders of Consumer Debt

(NSA, Bil $)	2006	2007	2008	2009	2010	2011	Q3.12	Q4.12
Federal Government1
Consumer Credit	$86.9	$93.0	$104.3	$178.6	$308.8	$417.4	$509.5	$526.8
Home Mortgage2	$13.3	$13.7	$16.4	$22.1	$23.9	$24.8	$25.3	$25.9
U.S.-Chartered Depository Institutions
Consumer Credit	$836.7	$894.9	$965.0	$906.2	$1,185.5	$1,192.6	$1,186.1	$1,218.6
Home Mortgage2	$2,932.7	$3,068.0	$2,883.6	$2,686.6	$2,612.0	$2,535.0	$2,454.2	$2,487.9
Credit Unions
Consumer Credit	$236.1	$236.6	$236.2	$237.1	$226.5	$223.0	$236.7	$243.6
Home Mortgage2	$252.5	$280.2	$312.2	$316.9	$317.0	$320.5	$326.4	$326.2
Government-Sponsored Enterprises3
Home Mortgage2	$457.6	$447.9	$456.6	$445.3	$4,699.3	$4,595.9	$4,508.3	$4,486.6
Issuers of Asset-Backed Securities4
Consumer Credit	$636.3	$673.0	$632.9	$593.2	$63.0	$54.8	$57.8	$58.2
Home Mortgage2	$2,167.1	$2,200.3	$1,885.3	$1,564.6	$1,290.8	$1,098.7	$964.2	$923.8
Finance Companies
Consumer Credit	$531.9	$572.1	$554.3	$471.9	$708.4	$690.6	$676.3	$678.8
Home Mortgage2	$538.1	$472.7	$375.4	$327.7	$169.5	$149.7	$134.9	$133.2
Notes: NSA = not seasonally adjusted 1 "Federal Government" comprises all federal government agencies and funds under the unified budget, including retirement and insurance funds and government-owned corporations and agencies. Not included are Federal Reserve Banks or government-sponsored enterprises. 2 Mortgages on one- to four-family properties. Applies to home mortgages in all categories. 3 This sector includes FHLB, Fannie Mae, Freddie Mac, Sallie Mae, Farm Credit System, FICO, and REFCORP. 4 This includes special-purpose vehicles established contractually to hold assets and issue debt obligations backed by the assets. These assets have been transferred off the balance sheet of the institution that originated the loan to the special-purpose vehicles.

Credit Performance

Loan Charge-Offs

The charge-off statistics released by the Federal Reserve Board are calculated from data available in the Report of Condition and Income (Call Report), filed each quarter by all commercial banks. Charge-off rates for any category of loan are defined as the flow of a bank's net charge-offs (gross charge-offs minus recoveries) during a quarter divided by the average level of its loans outstanding over that quarter. Data for each calendar quarter become available approximately 60 days after the end of the quarter.

Access at: http://www.federalreserve.gov/releases/chargeoff/

Loan Charge-Offs

	2006	2007	2008	2009	2010	2011	Q3.12	Q4.12
Charge-Off Rate1 (SAAR, %)
Consumer Loans	2.01	2.50	3.53	5.49	5.88	3.62	2.47	2.50
Credit Cards	3.54	4.00	5.52	9.40	9.34	5.68	3.86	4.06
Residential Real Estate Loans2	0.10	0.26	1.28	2.36	2.12	1.58	1.74	1.08
Net Charge-Offs3 (NSA, $ Mil)
Consumer Loans	$16,314	$21,987	$34,190	$52,961	$74,345	$43,010	$7,305	$7,558
Credit Cards	$11,007	$13,339	$19,950	$34,883	$61,886	$35,017	$5,788	$5,906
Residential Real Estate Loans2	$1,835	$5,036	$25,513	$49,540	$44,273	$32,155	$9,058	$5,669
Source: Federal Financial Institutions Examination Council. FRB Call Report. Board of Governors of the Federal Reserve System. Notes: SAAR = seasonally adjusted annual rate, NSA = not seasonally adjusted 1 Charge-off rate is the flow of a bank's net charge-offs (gross charge-offs minus recoveries) during a quarter divided by the average level of its loan outstanding over that quarter multiplied by 400 to express the ratio as an annual percentage rate. Charged-off loans are reported on schedule RI-B and the average levels of loans on schedule RC-K. 2 Residential real estate loans include loans secured by one- to four-family properties, including home equity lines of credit. 3 Charge-offs are the value of loans and leases removed from the books and charged against loss reserves.

Credit Card Charge-Offs: Managed Assets Basis*

This chart is derived from data available in the Report of Condition and Income (Call Report), filed each quarter by all commercial banks. The charge-off rate is calculated by dividing the sum of on- and off-balance-sheet credit card net charge-offs (gross charge-offs minus recoveries) during a quarter by the on- and off-balance-sheet total amount outstanding for the end of the previous quarter.

*The charge-off rate presented here may vary slightly from measures reported by the Board because the Board’s charge-off rate is calculated on the basis of average quarterly credit card assets. (http://www.federalreserve.gov/releases/chargeoff/)

Source: Federal Financial Institutions Examination Council. FRB Call Report.

Note: The on-balance-sheet net charge-offs calculation comes from the aggregation of variables RIADB514 (gross charge-offs) and RIADB515 (recoveries) from the Call Report. The total amount outstanding for on-balance-sheet assets comes from the aggregation of variable RCFDB538 from the Call Report. For off-balance-sheet assets, the calculation of net charge-offs comes from the aggregation of variables RIADB749 (gross charge-offs) and RIADB756 (recoveries) from the Call Report. The total amount outstanding for off-balance-sheet assets comes from the aggregation of variable RCFDB707 from the Call Report. The bars depict on- and off-balance-sheet charge-offs in the quarter in which they occurred. The charge-off rate is the ratio of net charge-offs realized in the quarter divided by the sum of on- and off-balance-sheet credit card assets from the end of the previous quarter.

Loan Delinquencies

The delinquency statistics presented on the Federal Reserve Board's website are calculated from data available in the Report of Condition and Income (Call Report), filed each quarter by all commercial banks. The delinquency rate for any loan category is the ratio of the dollar amount of a bank's delinquent loans in that category to the dollar amount of total loans outstanding in that category. Data for each calendar quarter become available approximately 60 days after the end of the quarter.

Access at: http://www.federalreserve.gov/releases/chargeoff/

Loan Delinquencies

	2006	2007	2008	2009	2010	2011	Q3.12	Q4.12
Delinquency Rate1 (SAAR, %)
Consumer Loans	2.90	3.13	3.76	4.70	4.15	3.23	2.77	2.62
Credit Cards	4.01	4.25	5.03	6.53	4.90	3.54	2.82	2.73
Residential Real Estate Loans2	1.73	2.54	4.99	9.14	10.84	10.41	10.60	10.07
Delinquencies3 (NSA, EOP, $ Mil)
Consumer Loans	$26,104	$33,737	$44,007	$46,140	$46,064	$38,573	$33,554	$33,684
Credit Cards	$13,738	$17,376	$22,935	$24,368	$27,489	$20,950	$17,295	$17,563
Residential Real Estate Loans2	$39,925	$65,942	$145,024	$232,739	$220,389	$217,754	$221,307	$215,039
Source: Federal Financial Institutions Examination Council. FRB Call Report. Board of Governors of the Federal Reserve System. Notes: NSA = not seasonally adjusted, EOP = end of period 1 "Delinquency Rate" is delinquent loan/lease as a percent of end-of-period loan/lease balance 2 Residential real estate loans include loans secured by one- to four-family properties, including home equity lines of credit. 3 Delinquent loans include those past due 30 days or more and still accruing interest, as well as those on nonaccrual status.

Bankruptcy

The statistics used to measure bankruptcy filings come from the Administrative Office of the United States Courts. Included are bankruptcy filings by both business and nonbusiness entities. It is also important to note the surge of bankruptcies in 2005 due to the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), which took effect on October 17, 2005.

Access at: http://www.uscourts.gov/bnkrpctystats/bankruptcystats.htm

Bankruptcy Filings

	2006	2007	2008	2009	2010	2011	Q3.12	Q4.12
Total	621,349	849,412	1,115,813	1,472,238	1,592,669	1,410,918	298,310	273,878
Nonbusiness	601,535	821,275	1,072,952	1,411,708	1,536,623	1,363,015	288,995	264,647
Source: Administrative Office of the United States Courts Note: Annual data aggregated from the monthly and quarterly series do not match the annual series because the annual series includes revisions, while the monthly and quarterly series do not.

Credit Standards and the Demand for Credit

The data used to describe banks’ credit standards and demand for consumer loans come from two questions asked by the Senior Loan Officer Opinion Survey (SLOOS). This survey covers approximately 60 large domestic banks and 24 U.S. branches and agencies of foreign banks. The Federal Reserve generally conducts the survey quarterly, timing it so that results are available for the January/February, April/May, August, and October/November meetings of the Federal Open Market Committee. Questions cover changes in the standards and terms of the banks' lending and the state of business and household demand for loans, or occasionally specific topics of current interest.

Access at: http://www.federalreserve.gov/boarddocs/snloansurvey/

Note: The height of the line in the above graph is the net percentage of banks tightening credit standards for new credit card applicants.

Note: The height of the line in the above graph is the net percentage of banks with strengthening demand for consumer loans.

Credit at the Family Level

The data used to describe the revolving credit of families come from the Survey of Consumer Finances (SCF). The SCF is a triennial survey of the balance sheet, pension, income, and other demographic characteristics of U.S. families. The survey also gathers information on the use of financial institutions.

Access at: http://www.federalreserve.gov/pubs/oss/oss2/scfindex.html

Percent of Families with a Transaction Account (%)

	92	95	98	01	04	07	10
All Families	86.9	87.4	90.6	91.4	91.3	92.1	92.5
Income Percentile
Less than 20%	62.5	63.2	68.8	71.6	75.5	74.9	76.2
20-39.9%	83.9	85.2	90.3	90.3	87.3	90.1	91.1
40-59.9%	91.7	92.0	95.4	96.6	95.9	96.3	96.4
60-79.9%	97.6	97.3	98.9	99.1	98.4	99.3	98.9
80-89.9%	98.8	98.7	99.6	99.7	99.1	100.0	99.8
90-100%	98.7	99.8	100.0	99.2	100.0	100.0	99.9
Age of Family Head
35 or Younger	81.3	80.9	84.7	81.7	86.4	87.3	89.0
35-44	86.8	87.6	90.5	91.1	90.8	91.2	90.6
45-54	88.9	89.2	94.1	92.7	91.8	91.7	92.5
55-64	90.2	88.8	93.9	93.8	93.2	96.4	94.2
65-74	88.9	91.7	94.1	93.8	93.9	94.6	95.8
75 or Older	91.8	93.2	90.0	93.7	96.4	95.3	96.4
Housing Status
Homeowner	94.0	95.3	96.4	96.7	96.0	97.3	97.4
Renter or Not Homeowner	74.3	72.9	79.4	80.3	80.9	80.8	82.4

Median Value of Transaction Accounts for Families with Holdings (2010 dollars)

	92	95	98	01	04	07	10
All Families	3,500	3,000	4,000	4,800	4,300	4,200	3,500
Income Percentile
Less than 20%	800	1,000	900	1,100	700	800	700
20-39.9%	1,700	1,800	2,000	2,200	1,700	1,700	1,500
40-59.9%	3,000	2,300	3,000	3,400	3,500	2,900	2,800
60-79.9%	4,200	3,500	5,700	6,400	7,500	6,300	5,300
80-89.9%	7,300	6,100	10,000	11,600	12,700	13,500	11,100
90-100%	23,500	18,800	24,000	31,900	32,200	38,400	35,000
Age of Family Head
35 or younger	2,000	1,700	2,000	2,100	2,100	2,500	2,100
35-44	3,100	2,800	3,800	4,200	3,500	3,600	2,500
45-54	4,500	4,200	5,900	5,600	5,500	5,200	3,500
55-64	4,500	4,400	5,400	6,700	7,700	5,400	5,000
65-74	5,800	4,600	7,500	9,800	6,300	8,100	5,700
75 or Older	6,100	7,100	8,000	8,900	7,400	6,400	7,200
Housing Status
Homeowner	5,200	4,200	6,500	7,100	6,900	6,500	5,800
Renter or Not Homeowner	1,500	1,600	1,500	1,500	1,300	1,300	1,000

Percent of Households with a Credit Card Balance (%)

	92	95	98	01	04	07	10
All Families	43.7	47.3	44.1	44.4	46.2	46.1	39.4
Income Percentile
Less than 20%	23.4	26.0	24.5	30.3	28.8	25.7	23.2
20-39.9%	41.9	43.2	40.9	44.5	42.9	39.5	33.4
40-59.9%	51.9	52.9	50.1	52.8	55.1	54.8	45.0
60-79.9%	55.6	60.0	57.4	52.6	56.1	62.1	53.1
80-89.9%	53.6	61.0	53.1	50.3	57.6	55.8	51.0
90-100%	37.9	47.3	42.1	33.1	38.5	40.6	33.6
Age of Family Head
35 or Younger	51.8	54.7	50.7	49.6	47.5	48.5	38.7
35-44	50.9	55.9	51.3	54.1	58.8	51.7	45.6
45-54	48.9	56.4	52.5	50.4	54.0	53.6	46.2
55-64	37.2	43.2	45.7	41.6	42.1	49.9	41.3
65-74	32.1	30.5	29.2	30.0	31.9	37.0	31.9
75 or Older	20.1	17.5	11.2	18.4	23.5	18.8	21.7
Housing Status
Homeowner	46.6	51.1	46.2	44.4	48.8	50.1	43.1
Renter or Not Homeowner	38.6	40.3	40.0	44.3	40.4	37.3	31.8

Median Value of Credit Card Balances for Households with Holdings (2010 dollars)

	92	95	98	01	04	07	10
All Families	1,500	2,100	2,300	2,300	2,500	3,100	2,600
Income Percentile
Less than 20%	800	1,000	1,300	1,200	1,200	1,000	1,000
20-39.9%	1,200	1,700	1,600	1,500	2,100	1,900	1,500
40-59.9%	1,4000	2,100	2,500	2,500	2,500	2,500	2,200
60-79.9%	2,200	2,200	2,900	2,800	3,500	4,200	3,100
80-89.9%	2,300	2,800	2,700	4,600	3,100	5,800	5,900
90-100%	3,400	4,000	4,000	3,400	4,600	7,900	8,000
Age of Family Head
35 or younger	1,400	1,800	2,000	2,500	1,700	1,900	1,600
35-44	1,800	2,700	2,700	2,500	2,900	3,700	3,500
45-54	2,300	2,800	2,400	2,800	3,300	3,800	3,500
55-64	1,500	1,800	2,700	2,300	2,500	3,800	2,800
65-74	1,200	1,100	1,500	1,200	2,500	3,100	2,200
75 or Older	800	500	900	900	1,200	800	1,800
Housing Status
Homeowner	1,700	2,100	2,700	2,600	2,900	3,800	3,400
Renter or Not Homeowner	1,400	1,700	1,700	1,500	1,700	1,400	1,300

Debtors with Payment-to-Income Ratio Greater Than 40 Percent (%)

	92	95	98	01	04	07	10
All Families	11.4	11.7	13.6	11.8	12.3	14.8	13.8
Income Percentile
Less than 20%	27.1	27.4	29.8	29.3	26.8	26.9	26.1
20-39.9%	16.0	18.0	18.3	16.6	18.6	19.5	18.6
40-59.9%	10.8	9.9	15.9	12.3	13.8	14.5	15.4
60-79.9%	8.2	7.7	9.8	6.5	7.3	12.9	11.0
80-89.9%	3.5	4.7	3.5	3.5	2.6	8.2	5.3
90-100%	2.4	2.3	2.8	2.0	1.5	3.8	2.9
Age of Family Head
35 or Younger	11.1	12.1	12.9	12.0	12.8	15.1	11.6
35-44	12.2	9.9	12.5	10.1	12.4	12.8	16.4
45-54	10.5	12.3	12.8	11.6	13.3	16.3	15.5
55-64	14.6	15.1	14.0	12.3	10.3	14.5	13.0
65-74	7.4	11.3	18.1	14.7	11.6	15.6	12.1
75 or Older	12.0	7.4	21.4	14.6	10.7	13.9	11.9
Housing Status
Owner	14.5	14.3	16.5	14.7	15.0	18.1	17.1
Renter or Not Homeowner	4.9	5.8	6.5	4.2	4.3	5.4	5.0
Note: The payment-to-income ratio reflects the sum of family debt payments divided by the household income.

Debtors with Any Payment Past Due 60 Days or More (%)

	92	95	98	01	04	07	10
All Families	6.0	7.1	8.1	7.0	8.9	7.1	10.8
Percentile of income
Less than 20%	11.0	10.4	13.0	13.4	15.9	15.1	21.2
20-39.9%	9.3	10.2	12.4	11.7	13.8	11.5	15.2
40-59.9%	6.9	8.8	10.0	7.9	10.4	8.3	10.2
60-79.9%	4.4	6.6	5.9	4.0	7.1	4.1	8.8
80-89.9%	1.8	2.8	3.9	2.6	2.3	2.1	5.4
90-100%	1.0	1.0	1.6	1.3	0.3	0.2	2.1
Age of Family Head
35 or Younger	8.3	8.8	11.1	11.9	13.7	9.4	10.4
35-44	6.8	7.7	8.4	5.9	11.7	8.6	15.7
45-54	5.4	7.4	7.4	6.2	7.6	7.3	12.6
55-64	4.7	3.2	7.5	7.1	4.2	4.9	8.4
65-74	1.0	5.3	3.1	1.5	3.4	4.4	6.1
75 or Older	1.8	5.4	1.1	0.8	3.9	1.1	3.2
Housing status
Owner	3.6	5.1	6.1	4.3	5.6	4.8	8.7
Renter or Not Homeowner	11.2	11.6	12.9	14.0	18.6	13.5	16.6

Maps of Local Credit Quality

The Federal Reserve Bank of New York publishes regional information on consumer credit conditions addressing mortgage delinquency and foreclosure issues. The U.S. Credit Conditions section offers interactive maps and data on auto and student loan delinquencies and mortgage "roll" rates. These features complement existing maps and spreadsheets on mortgage foreclosures and delinquencies, measures of subprime and alt-A mortgages, and bank credit card delinquencies. The data are available at the state and county level.

Access at: http://data.newyorkfed.org/creditconditions/

Noncash Payments

The data used to describe noncash payments come from the 2007 and 2010 editions of the Federal Reserve Payments Studies. The Federal Reserve Payments Study is a triennial survey of the payments industry first conducted in 2001. These studies are part of a Federal Reserve System effort to track noncash payments in the United States, and they reflect the efforts of hundreds of organizations across the country.

Access at: http://www.frbservices.org/files/communications/pdf/research/2010_payments_study.pdf

Noncash Payments

	2003		2006		2009
	Volume (Bil)	Value ($ Tril)	Volume (Bil)	Value ($ Tril)	Volume (Bil)	Value ($ Tril)
Total Noncash Payments	81.4	$67.6	95.2	$75.7	109.0	$72.2
Checks (paid)1	37.3	$41.1	30.5	$41.6	24.5	$31.6
Debit Card	15.6	$0.6	25.0	$1.0	37.9	$1.4
Signature	10.3	$0.4	15.7	$0.6	23.4	$0.9
PIN	5.3	$0.2	9.4	$0.4	14.5	$0.6
Prepaid Card2			3.3	$0.08	6.0	$0.14
EBT2	0.8	*	1.1	$0.03	2.0	$0.05
Credit Card	19.0	$1.7	21.7	$2.1	21.6	$1.9
ACH	8.8	$24.1	14.6	$31.0	19.1	$37.6
Source: 2007 and 2010 Federal Reserve Payments Studies 1 Nominal values of checks (paid) increased (displayed in the table). However, in constant dollars the value of checks (paid) showed a growth rate of -2.5 percent per year. 2 Revisions made to the 2007 and 2010 studies re-categorized prepaid cards so as not to include them with debit card estimates *Values too small to display. The value of EBT payments was $22 billion in 2003 and $30 billion in 2006.

Checks

The data used to describe checks come from the 2007 and the 2010 Federal Reserve Payments Studies and the 2010 Federal Reserve Check Sample Study. The Federal Reserve Payments Study is a triennial survey of the payments industry first conducted in 2001. These studies are part of a Federal Reserve System effort to track noncash payments in the United States, and they reflect the activities of financial institutions, networks, and other providers of payment services across the country. The 2010 Depository Institution Study is a random sample of depository institutions that collects the number and value of different types of payments and contributes to the estimates of total checks written. The 2010 Check Sample Study is a random sample of checks processed by 11 large commercial banks used to estimate the distribution of checks among various counterparties.

Access at: http://www.frbservices.org/files/communications/pdf/research/2010_payments_study.pdf

Checks Paid by Type of Depository Institution

	2003		2006		2009
	Number (Bil)	Value ($ Tril)	Number (Bil)	Value ($ Tril)	Number (Bil)	Value ($ Tril)
Total	37.3	$41.1	30.5	$41.6	24.5	$31.6
Commercial Banks	29.7	$38.4	25.0	$39.0	20.7	$29.2
Credit Unions	4.2	$0.9	2.8	$0.8	2.1	$0.7
Savings Institutions	3.0	$1.5	2.3	$1.6	1.3	$1.3
Source: 2007 and 2010 Federal Reserve Payments Studies

Credit Cards

The data used to describe credit cards come from the 2007 and the 2010 Federal Reserve Payments Studies and The Nilson Report, a twice-monthly newsletter based in Carpinteria, California. The Federal Reserve Payments Study is a triennial survey of the payments industry first conducted in 2001. These studies are part of a Federal Reserve System effort to track noncash payments in the United States, and they reflect the efforts of hundreds of organizations across the country. Nilson kindly permits some of its data to be included in tabulations that appear in the U.S. Census Bureau’s Statistical Abstract of the U.S. We include data from the 2009 edition here. More recent data should be obtained directly from Nilson.

Access at:

• The 2010 Federal Reserve Payments Study
• U.S Census Bureau: Banking, Finance, & Insurance: Payment Systems, Consumer Credit, Mortgage Debt

Credit Card Volume, Value and Average Value

	2003			2006			2009
	Volume (Bil)	Value ($ Tril)	Avg Value ($)	Volume (Bil)	Value ($ Tril)	Avg Value ($)	Volume (Bil)	Value ($ Tril)	Avg Value ($)
Total	19.0	$1.7	$89	21.7	$2.1	$98	21.6	$1.9	$89
General Purpose	15.2	$1.4	$93	19.0	$1.9	$99	19.9	$1.7	$86
Private Label	3.8	$0.3	$76	2.8	$0.3	$92	1.7	$0.2	$121
Source: 2007 and 2010 Federal Reserve Payments Studies Figures may not add due to rounding.

Distribution of General Purpose Credit Card Payments

	Number (Bil)	% of Total	Value (Bil)	% of Total
<$5	2.1	10.7%	$4	0.3%
$5.00-$14.99	3.7	18.5%	$36	2.1%
$15-$24.99	2.9	14.5%	$57	3.3%
$25+	11.2	56.3%	$1,624	94.4%
Source: 2010 Federal Reserve Payments Studies

Credit Cardholders and Number of Cards

Type of Card	2000		2009		2012 proj.
	Cardholders1 (Mil)	Cards (Mil)	Cardholders1(Mil)	Cards (Mil)	Cardholders1(Mil)	Cards (Mil)
Total	159	1,425	156	1,245	160	1,167
Visa	93	255	100	270	107	261
MasterCard	86	200	80	203	84	174
Discover/Amex	59	83	74	103	80	111
Store	114	597	100	470	96	455
Oil Company	76	98	58	61	56	60
Other2	133	192	105	370	81	106
Source: The Nilson Report, Carpinteria, CA, twice-monthly newsletter. (Used with permission.) 1 Cardholders may hold more than one type of card. 2 Includes Universal Air Travel Plan (UATP), phone cards, automobile rental, and miscellaneous cards; credit card purchase volume excludes phone cards.

Credit Card Rates

The data used to describe credit card interest rates and the rates of return to credit card banks come from the Report to Congress on the Profitability of Credit Card Operations of Depository Institutions provided by the Board of Governors of the Federal Reserve System. This report is transmitted to Congress annually and is based mainly on the Call Report, the Quarterly Report of Credit Card Interest Rates, and the Survey of Terms of Credit Card Plans. The Board released the data in this report in June.

Access at: http://www.federalreserve.gov/pubs/reports_other.htm (see "Profitability of Credit Card Operations of Depository Institutions")

Interest Rate on Revolving Credit Cards (%)

	Q1	Q2	Q3	Q4	Avg
2003	12.85%	12.82%	13.11%	12.91%	12.92%
2004	12.41%	12.93%	13.60%	13.92%	13.22%
2005	14.13%	14.81%	14.75%	14.48%	14.54%
2006	14.38%	14.77%	14.67%	15.09%	14.73%
2007	14.64%	14.47%	15.24%	14.35%	14.68%
2008	13.77%	13.51%	13.64%	13.36%	13.57%
2009	13.54%	14.43%	14.90%	14.37%	14.31%
2010	14.67%	14.48%	14.22%	13.67%	14.26%
2011	13.44%	13.06%	13.08%	12.78%	13.09%
Source: Board of Governors of the Federal Reserve System, Quarterly Report of Credit Card Interest Rates

Debit Cards

The data used to describe debit cards come from the 2007 and 2010 Federal Reserve Payments Studies and The Nilson Report, a twice-monthly newsletter based in Carpinteria, California. The Federal Reserve Payments Study is a triennial survey of the payments industry first conducted in 2001. These studies are part of a Federal Reserve System effort to track noncash payments in the United States, and they reflect the efforts of hundreds of organizations across the country. Nilson kindly permits some of its data to be included in tabulations that appear in the U.S. Census Bureau’s Statistical Abstract of the U.S. We include data from the 2009 edition here. More recent data should be obtained directly from Nilson.

Access at:

• The 2010 Federal Reserve Payments Study
• U.S Census Bureau: Banking, Finance, & Insurance: Payment Systems, Consumer Credit, Mortgage Debt

Debit Card Volume, Value, and Average Value

	2003			2006			2009
	Number (Bil)	Value ($ Bil)	Avg Value ($)	Number (Bil)	Value ($ Bil)	Avg Value ($)	Number (Bil)	Value ($ Bil)	Avg Value ($)
Total	15.6	$600	$40	25.0	$1,000	$39	37.9	$1,400	$38
Signature	10.3	$400	$42	15.7	$600	$40	23.4	$900	$37
PIN	5.3	$200	$38	9.4	$300	$37	14.5	$600	$39
Source: 2007 and 2010 Federal Reserve Payments Studies Figures may not add due to rounding.

Distribution of General Purpose Signature Debit Card Payments

	Number (Bil)	% of Total	Value (Bil)	% of Total
<$5	3.6	15.4%	$10	1.1%
$5.00-$14.99	7.3	31.3%	$70	7.9%
$15-$24.99	4.0	17.3%	$80	9.1%
$25+	8.4	36.0%	$700	81.9%
Source: 2010 Federal Reserve Payments Studies

Distribution of General Purpose PIN Debit Card Payments

	Number (Bil)	% of Total	Value (Bil)	% of Total
<$5	1.3	8.7%	$4	0.7%
$5.00-$14.99	3.5	24.1%	$34	5.6%
$15-$24.99	2.6	17.7%	$51	8.4%
$25+	7.2	49.5%	$512	85.3%
Source: 2010 Federal Reserve Payments Studies

Debit Card Holders and Number of Cards

Type of Card	2000		2008		2012 proj.
	Holders1 (Mil)	Cards (Mil)	Holders1(Mil)	Cards (Mil)	Holders1 (Mil)	Cards (Mil)
Total	160	235	181	491	191	530
Signature2	137	137	160	449	165	484
PIN3	159	223	180	276	189	291
Other4	11	11	12	12	14	14
Source: The Nilson Report, a twice-monthly newsletter based in Carpinteria, CA. (Used with permission.) 1 Cardholders may hold more than one type of card. Bank cards and EFT cards are the same pieces of plastic that carry multiple brands. The total card figure shown does not include any duplication. 2 “Signature Debit” is defined by Nilson as bank cards or Visa and MasterCard debit cards. For 2006 and later, Nilson includes Interlink & Master Card PIN debit. 3 “PIN Debit” is defined by Nilson as EFT cards issued by financial institution members of regional and national switches such as Star, Interlink, Pulse, Nyce, etc. 4 Retail cards such as those issued by supermarkets

Prepaid

The data used to describe prepaid cards come from the 2007 and 2010 Federal Reserve Payments Studies. The Federal Reserve Payments Study is a triennial survey of the payments industry first conducted in 2001. These studies are part of a Federal Reserve System effort to track noncash payments in the United States, and they reflect the efforts of hundreds of organizations across the country.

Access at: http://www.frbservices.org/files/communications/pdf/research/2010_payments_study.pdf

Prepaid Card Volume, Value, and Average Value

	2006			2009
	Number (Bil)	Value ($ Bil)	Avg Value ($)	Number (Bil)	Value ($ Bil)	Avg Value ($)
Total	3.3	$80	$23	6.0	$140	$24
Private Label	1.9	$30	$18	2.7	$40	$17
General Purpose	0.3	$10	$41	1.3	$40	$33
EBT	1.1	$30	$27	2.0	$50	$28
Source: 2010 Federal Reserve Payments Studies Figures may not add due to rounding.

Distribution of Open Loop Prepaid Card Payments

	Number (Bil)	% of Total	Value (Bil)	% of Total
<$5	0.2	18.8%	$1	1.6%
$5.00-$14.99	0.4	32.4%	$4	8.9%
$15-$24.99	0.2	15.9%	$4	9.3%
$25+	0.4	32.9%	$34	80.2%
Source: 2010 Federal Reserve Payments Studies.

ACH

The data used to describe automated clearing house (ACH) payments come from quarterly statistical reports published publicly by NACHA, the Electronic Payments Association. NACHA is a non-for-profit that oversees the ACH network. In NACHA’s quarterly reports, it publishes the breakdown of ACH transactions from the previous quarter and tracks growth.

Access at: http://www.nacha.org/c/ACHntwkstats.cfm

ACH Transactions and Dollar Value (not including “on-us” transactions)

(Mil)	2005	2006	2007	2008	2009	2010	2011
CIE1	121	138	133	127	119	138	156
PPD Debits2	2,332	2,498	2,611	2,741	2,770	2,833	2,933
PPD Credits3	3,557	3,771	4,021	4,333	4,545	4,710	4,879
RCK4	22	21	20	16	12	8	7
TEL5	239	292	335	347	344	354	367
WEB6	1,006	1,364	1,737	2,078	2,280	2,449	2,680
Total ACH Transactions (Mil)7	10,696	12,323	13,972	14,961	15,257	15,617	16,079
Total ACH Value ($ Tril)	$24.00	$26.15	$28.54	$26.90	$29.59	$31.70	$33.90
Source: NACHA, the Electronic Payments Association 1 CIE = Customer Initiated Entry: A credit entry is initiated by an individual and is used to pay some sort of obligation 2 PPD Debits = Prearranged Payments and Deposit Debit Application: A transfer of funds into a consumer account at the Receiving Depository Financial Institution 3 PPD Credit = Prearranged Payments and Deposit Credit Application: Authority is granted by the consumer to companies with billing operations to initiate one time or periodic charges to his or her account as bills become due 4 RCK = Re-presented Check: An ACH debit application used by originators to re-present a check that has been processed through the check collections system and returned because of insufficient or uncollected funds 5 TEL = Telephone Authorized Entry: Oral authorization is obtained solely via the telephone 6 WEB = Internet Authorized Entry: Authorization is obtained solely via the Internet 7 The total ACH transactions and value include all commercial inter-bank and government transactions, but not "on-us" transactions, and are larger than the total of the entry types included.

*According to the 2010 Federal Reserve Payments Study, “on-us” ACH transactions increased from 2.3 billion in 2006 to 3.7 billion in 2009.

Adoption of Payments by Households

The data used to describe the adoption of payments by households come from tables in an article by Loretta Mester published in the Federal Reserve Bank of Philadelphia’s Business Review. These tables are based on the Survey of Consumer Finances (SCF) as well as the author's calculations. The SCF is a triennial survey of the balance sheet, pension, income, and other demographic characteristics of U.S. families. The survey also gathers information on the use of financial institutions.

Access at:

• Changes in the Use of Electronic Means of Payment: 1995-2010 (exhibit 1, parts 1 and 2)
• Survey of Consumer Finances

Adoption of Payments by Households (%)

	1995	1998	2001	2004	2007	2010
ATM	62.5	67.4	69.8	74.4	79.7	83.4
Debit Card	17.6	33.8	47.0	59.3	67.0	78.4
Direct Deposit	46.7	60.5	67.3	71.2	74.9	75.9
Automatic Bill Paying	21.8	36.0	40.3	47.4	45.5	48.3
Note: The percentages reported are based on the population-weighted figures using the revised Kennickell-Woodburn consistent weights for each year. (For further discussion, see the Survey of Consumer Finances codebooks at www.federalreserve.gov/pubs/oss/oss2/scfindex.html.) This exhibit reports percentages for all households. 1 The questions on ATMs and smart cards asked whether any member of the household had an ATM card or a smart card, not whether the member used it. The other questions asked about usage. The question on smart cards was dropped after the 2001 survey.

Survey of Consumer Payment Choice

As described on its website, the Federal Reserve Bank of Boston publishes the Survey of Consumer Payment Choice (SCPC), which develops comprehensive, publicly available data on consumer payment behavior. The 2008 SCPC is a nationally representative survey of consumer payment behavior developed by the Consumer Payments Research Center of the Boston Fed and implemented by the RAND Corporation with its American Life Panel. The primary purpose of the 2008 SCPC is to publish and document the aggregate statistics obtained from the data to help researchers learn how consumers choose among payment instruments, including cash. The 2008 SCPC report contains detailed tables providing a view of consumers' behavior regarding paper instruments, payment cards, as well as electronic instruments. The data are based on the half-hour, Internet-based survey administered by the RAND Corporation to a sample of U.S. consumers drawn from its American Life Panel.

Access at: http://www.bostonfed.org/economic/ppdp/2011/ppdp1101.htm