DEFINITION of 'G.19 Report'

A monthly statistical report from the U.S. Federal Reserve that shows outstanding credit extended to individuals for household, family and other personal expenditures. Also known as the Consumer Credit Report, the G.19 Report contains a wealth of information pertaining to U.S. consumer credit. The G.19 Report is useful for two reasons - (a) it provides valuable insights into consumer credit availability, which drives consumer spending that accounts for 70% of the U.S. economy, and (b) it is a timely report on current credit conditions, as it is published only five business days after the end of the month for which the data is being reported.

BREAKING DOWN 'G.19 Report'

The G.19 report includes information such as the annualized percent change in total credit, revolving credit and non-revolving credit; major holders of credit; and selected terms of credit including interest rates and terms on new car loans and personal loans, as well as credit card plans at commercial banks.

The G.19 Report shows consumer credit in two major categories: revolving and non-revolving. Revolving credit plans may be unsecured or secured by collateral, allows a consumer to borrow up to a prearranged limit, and repay the debt in one or more installments. Once part of the debt is repaid, the consumer can borrow up to the debt limit that has been out into place. While most of the revolving credit measured in the G.19 Report comprises of credit card loans, it also includes other types such as overdraft plans.

Non-revolving credit shown in the G.19 Report is closed-end credit that may be secured or unsecured, and is repaid on a set repayment schedule. Unlike revolving credit, the consumer cannot borrow additional funds with a non-revolving plan. Most non-revolving credit comprises consumer vehicle loans and education loans. This category also includes personal loans and recreational vehicle loans.

Since consumer credit is broadly defined as consumer loans that are not secured by real estate, the G.19 report does not include data on loans such as home equity loans and HELOCs (home equity lines of credit).

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