DEFINITION of 'G.19 Report'

The G.19 report is 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 contains a wealth of information pertaining to U.S. consumer credit.

BREAKING DOWN 'G.19 Report'

The G.19 is useful for two reasons:

  1. It provides valuable insights into consumer credit availability, which drives consumer spending accounting for 70% of the U.S. economy, and
  2. 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.

What the G.19 Report Includes

The G.19 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 shows consumer credit in two major categories: revolving and non-revolving. Revolving credit plans may be unsecured or secured by collateral, and it 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 additional funds up to the debt limit.

While most of the revolving credit measured in the G.19 is comprised of credit card loans, it also includes other types, such as overdraft plans.

Non-Revolving Credit

Non-revolving credit shown in the G.19 is closed-end credit, which 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 is comprised of 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 not secured by real estate, the G.19 report does not include data on loans such as home equity loans or HELOCs (home equity lines of credit).

Increase in Credit Card Use

In January, 2018 the G.19 showed consumer credit card debt was at an all-time high, topping $1.02 trillion. While this may seem like a concern to some, economists say it's natural for consumers to take on more debt as unemployment decreases and wages and consumer confidence increases. Unfortunately for credit card companies, this increase in credit card use has also resulted in increased delinquency and charge-offs.

RELATED TERMS
  1. Revolving Account

    A revolving account is a type of credit account which provides ...
  2. Credit Agreement

    A credit agreement is a legally binding contract documenting ...
  3. Evergreen Loan

    An evergreen loan is a loan that does not require the principal ...
  4. Credit Utilization Ratio

    The credit utilization ratio is the percentage of a borrower’s ...
  5. Personal Interest

    Personal interest is interest that individuals pay on personal ...
  6. Credit Limit

    Credit limit is the amount of credit that a financial institution ...
Related Articles
  1. Investing

    Revolving Credit vs. Line of Credit

    Revolving credit and a line of credit are arrangements made between a lending institution and a business or individual.
  2. Personal Finance

    Lines of Credit: The Basics

    Learn how lines of credit, hybrids of credit cards, and normal loans, can help or hurt your finances. Determine what is right for you.
  3. Small Business

    Small Business Loan Vs Line of Credit: How They Differ

    Understand the differences between a small business loan and a line of credit, and learn some of the most appropriate uses for each form of financing.
  4. Small Business

    How To Increase Your Appeal To Prospective Lenders

    Making a business eligible for loans/credit cards at the best possible rates requires crafting an excellent credit profile through the smart use of credit.
  5. Personal Finance

    Why and How to Use Credit Cards Effectively

    When used responsibly, credit cards play a big role in establishing a good credit score that can help you obtain loans, mortgages and insurance.
  6. Personal Finance

    Is Your Credit Score at 850? It Can Be!

    Use these tips to increase your credit score and your ability to get low interest rates on loans.
  7. Personal Finance

    Are U.S. Banks Becoming Aggressive on Lending Again?

    Discover why banks are increasing their credit portfolios to include more credit cards and how this may impact your ability to borrow in the future.
  8. Personal Finance

    Why Too Many Credit Cards Can Hurt Your Credit Score

    Find out why having too many credit card accounts can adversely impact your credit score if the cards are not managed properly.
  9. Personal Finance

    Should You Close Your Credit Card?

    Learn about some of the consequences of closing a credit card, including how it will affect your credit score based upon credit history and utilization.
RELATED FAQS
  1. What is the difference between a loan and a line of credit?

    Understand how to differentiate between lines of credit and standard loans. Then determine when you are most likely to use ... Read Answer >>
Trading Center