Chillin' out till it needs to be funded
The revolving credit component ( predominantly Credit Cards) was slightly negative, after the holiday spending rush was over , not necessarily bad news for the banks as it is good for the Economy. Non revolving credit was up more than $20.7 bln from December’s less than $17 bln.
Consumer Credit growth in December overall was revised to $16.3 bln and November record add at $20.3 bln stays strapped on as the Consumer Credit outstanding at $2.6 tln stands a drop below the all time record of $2.7 tln in 2008 (June/July)
The Auto loans part definitely had a hand int he record sales that month, and that could be a good reason for avoiding growing credit in the area as well as Ally and Ford Credit could be reaching their limits, with Ford Financial assets well in lead over the manufacturing assets and inventory on its balance sheet.