Fed:Consumer Credit Rpt Restructured to Include Credit Flows
WASHINGTON (MNI) – The following announcement was published Monday
by the Federal Reserve:
The Federal Reserve Board on Monday announced that it has
restructured the G.19 statistical release, Consumer Credit, to reflect
regulatory filing changes for U.S.-chartered depository institutions
and, in addition to the data currently reported on level of credit
outstanding, the release will now report data on the flow of credit. The
revised data will be made available with the release of the April report
on Thursday, June 7.
Savings institutions now file the same regulatory report as
U.S.-chartered commercial banks. The U.S.-chartered commercial banks
sector and the savings institution sector, which were previously shown
separately, have been combined into a new sector called depository
institutions. The previously published series for U.S.-chartered
commercial banks and savings institutions will continue to be available
as separate series in the Federal Reserve’s Data Download Program (DDP).
The new 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 affect the level of credit. Access to flow data
allows users to calculate a growth rate for consumer credit that
excludes such breaks.
These changes will be accompanied by revisions to the estimates of
outstanding consumer credit back to January 2006 and reflect
improvements in methodology and a comprehensive review of the source
** MNI Washington Bureau: 202-371-2121 **
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