With all of the talk of increased lending, it's useful to look at the latest Federal Reserve's consumer credit report.
Consumer credit increased at an annual rate of 1-3/4 percent in October 2010. Revolving credit decreased at an annual rate of 8-1/2 percent, and nonrevolving credit increased at an annual rate of 6-3/4 percent.
Revolving credit are things like credit cards and non-revolving are things like auto loans and student loans.
This is a fairly dramatic drop in credit card debt, 8.5% in a month, at an annual rate. Charge offs are not included in this report.
The majority of the increase was in student loans, as reported by the press. Great huh? There are no jobs and now the loans come due? It seems the Fed doesn't break down loan categories so you can just see the student loan increase. The closest is this, below, which is the Federal government non-revolving consumer loans including Sallie Mae. There are more student loans in total non-revolving credit.