Total consumer credit (non-mortgage) rose $6.9 billion in January, up an annualized 3.3% from December. Revolving credit rose $5.6 billion (7.0% annualized), while non-revolving credit rose $1.5 billion (1.1% annualized). Consumer credit release.
The new Quarterly Banking Profile has been released. Excerpt:
FDIC-insured commercial banks and savings institutions reported net income of $105.5 billion in 2007, a decline of $39.8 billion (27.4 percent) from the record $145.2 billion that the industry earned in 2006. Fourth-quarter earnings declined to $5.8 billion, a 16-year low. Insured institutions set aside a record $31.3 billion in loan-loss provisions in the fourth quarter, as troubled loans continued to rise. The noncurrent loan rate rose to 1.39 percent at year end, the highest level in more than five years.
View the QBP