Monday, March 7, 2016

Consumer Credit at CUs Up in January

The Federal Reserve reported that outstanding consumer credit at credit unions grew in January 2016.

Total outstanding consumer credit at credit unions rose by $4.2 billion in January to $345.9 billion.

Revolving credit at credit unions fell by almost $400 million during January to $49 billion. On the other hand, outstanding nonrevolving credit at credit unions was $296.9 billion in January -- up from $292.3 billion in December 2015.

Read the G.19 release.
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8 comments:

  1. AnonymousMarch 8, 2016 at 7:03 AM

    I've always wondered how they get monthly numbers on banks & credit unions. Do they have a group of FIs that report monthly which they use to extrapolate the total? A pure estimate? Or something else?

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  2. Keith LeggettMarch 8, 2016 at 8:46 AM

    Monthly estimates for depository institutions are generated from the Weekly Report of Selected Assets and Liabilities of Domestically Chartered Commercial Banks and U.S. Branches and Agencies of Foreign Banks (FR 2644). Data collected for this report include the outstanding amount of selected balance sheet items, including items on loans, securities, and borrowings from a sample of member and nonmember domestically chartered commercial banks and U.S. branches and agencies of foreign banks. As of April 2011, the panel consists of an authorized random stratified sample of about 875 domestically chartered commercial banks and U.S. branches and agencies of foreign banks. Participation in the survey is voluntary.

    Credit union data are benchmarked to the 5300 Call Report. It is not clear how the Federal Reserve gets the monthly estimate.

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  3. Keith LeggettMarch 8, 2016 at 8:48 AM

    I missed a footnote and the Federal Reserve uses CUNA's monthly estimates for the credit union data.

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    Replies
    1. AnonymousMarch 8, 2016 at 9:39 AM

      CUNA= written by robusterian humple. Meaning unreliable and written by an idio--.
      Same guy who produces "membership numbers" and bank transfer day projections.
      Dr. Leggett. Don't bother anymore with this part of the "analysis".

      Delete
  4. AnonymousMarch 9, 2016 at 6:50 AM

    CUNA - LOL! Do they at least go back and adjust quarter end data to actual when the call reports are received?

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  5. Keith LeggettMarch 9, 2016 at 7:28 AM

    Yes, the data is benchmarked to the quarterly call report information.

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  6. KnoxvilleMarch 11, 2016 at 11:06 AM

    Thanks for explaining

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  7. KnoxvilleMarch 11, 2016 at 11:06 AM

    Thanks for explaining

    ReplyDelete