Consumer Credit & Payment Statistics
The Consumer Statistics page provides updated statistics related to consumer credit and consumer payments. The CFI compiles statistics that are relevant to researchers, reporters, and others interested in consumer credit and payments on a quarterly basis.
The statistics are divided into two sections:
1) Consumer Credit, which contains data on consumer debt, credit performance, and supply and demand of credit, and
2) Consumer Payments, which includes statistics on credit and debit cards and other noncash payments, as well as families’ revolving credit. There is a brief description of the data and a link to the source above the corresponding tables and graphs.
Consumer Credit Snapshot
This snapshot contains data on consumer debt, credit performance, and supply and demand of credit.
Consumer Debt
Aggregate Indebtedness of Consumers
Total consumer credit outstanding is divided into two categories in the G.19 report: revolving and nonrevolving credit. The G.19, a Federal Reserve report covering consumer credit, is released around the fifth business day of each month. The report contains statistics for the amounts of outstanding credit among several major holders of consumer credit. Also included are the terms of credit across a variety of institutions and types of loans.
Access at www.federalreserve.gov/releases/g19/current/
This table is current as of July 2018.
|
(EOP, SA, $Bil)
|
2007
|
2010
|
2013
|
2014
|
2015
|
2016
|
Q1:17
|
Q2:17
|
Q3:17
|
|||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Outstanding |
$2,609.48
|
$2,646.88
|
$3,095.56
|
$3,317.45
|
$3,417.16
|
$3,645.24
|
$3,692.90
|
$3,736.07
|
$3,778.74
|
|||
| Revolving |
$1,001.63
|
$839.10
|
$857.06
|
$891.07
|
$909.58
|
$969.63
|
$979.87
|
$991.89
|
$1,003.22
|
|||
| Nonrevolving |
$1,607.85
|
$1,807.71
|
$2,238.50
|
$2,426.38
|
$2,507.57
|
$2,675.60
|
$2,713.03
|
$2,744.18
|
$2,775.52
|
|||
|
Source: Board of Governors of the Federal Reserve System G.19 Credit Report Notes: Consumer credit covers most short- and intermediate-term credit extended to individuals. It includes revolving credit (credit card credit and balances outstanding on unsecured revolving lines of credit) and nonrevolving credit (such as secured and unsecured credit for automobiles, mobile homes, trailers, durable goods, vacations, and other purposes). Consumer credit excludes loans secured by real estate (such as mortgage loans, home equity loans, and home equity lines of credit). EOP = end of period, SA = seasonally adjusted |
||||||||||||
| Source: Board of Governors of the Federal Reserve System G.19 Credit Report |
Consumer Debt Composition
The data used to show consumer debt composition come from two subsections of the Federal Reserve Financial Accounts of the United States (Z.1). These subsections (Tables D.1 and D.3) measure debt growth and debt outstanding in several sectors. The Federal Reserve Board of Governors releases these statistics during the second week of March, June, September, and December.
Access at www.federalreserve.gov/releases/z1/ ; see the current release under "Debt growth, borrowing, and debt outstanding tables."
This table is current as of July 2018.
|
2007
|
2010
|
2013
|
2014
|
2015
|
2016
|
Q1:17
|
Q2:17
|
Q3:17
|
|
|---|---|---|---|---|---|---|---|---|---|
|
Debt Outstanding (SA, $Bil)
|
|||||||||
| Credit Market |
$14,175.50
|
$13,576.17
|
$13,597.50
|
$13,954.63
|
$14,218.10
|
$14,673.90
|
$14,802.46
|
$14,935.97
|
$15,067.46
|
| Home Mortgages |
$10,638.00
|
$9,985.32
|
$9,474.65
|
$9,455.83
|
$9,586.01
|
$9,796.09
|
$9,881.83
|
$9,947.57
|
$1,009.87
|
| Consumer Credit |
$2,609.47
|
$2,646.81
|
$3,095.56
|
$3,317.45
|
$3,417.16
|
$3,645.24
|
$3,692.90
|
$3,736.07
|
$3,781.69
|
|
Growth Rate (SAAR, %)
|
|||||||||
| Credit Market |
7.0
|
-0.4
|
1.8
|
2.9
|
2.9
|
3.6
|
3.6
|
3.8
|
3.7
|
| Home Mortgages |
7.2
|
-1.6
|
0.1
|
0.3
|
1.5
|
2.5
|
3.8
|
3.0
|
2.8
|
| Consumer Credit |
6.0
|
-1.1
|
5.9
|
7.0
|
6.9
|
6.5
|
5.2
|
4.7
|
4.9
|
| Notes: Home mortgages and consumer credit will not add up to total household debt because the other four components are unpublished. The four unpublished components are municipal securities, bank loans not elsewhere classified, other loans and advances, and commercial mortgages. SA = seasonally adjusted, SAAR = seasonally adjusted annual rate Data are on an end-of-period basis and may differ from monthly average statistics in the Board’s H.6 release. |
|||||||||
National, State, and Regional Data on Consumer Debt
The Consumer Credit Explorer (CCE) is an interactive tool for examining trends in consumer credit use at the regional, state, and national levels. The CCE enables users to look at quarterly changes in credit use indicators from 2005 to mid-2017 and to compare indicators across different areas. Users can analyze overall credit access, median debt levels, and delinquency rates for a variety of credit types (e.g., auto loans, student loans, mortgages, credit cards). Also, users can choose to focus specifically on consumers in low- and moderate-income neighborhoods, nonprime consumers, and consumers in different age categories.
Access at www.philadelphiafed.org/cce
Holders of Consumer Debt
The data that show the level of consumer debt held by several sectors come from two subsections of the Federal Reserve Financial Accounts of the United States (Z.1). These subsections (Tables L.218 and L.222) measure the outstandings of home mortgages and consumer credit held as assets by government and nongovernment institutions. The Federal Reserve Board of Governors releases these statistics during the second weeks of March, June, September, and December.
Access at www.federalreserve.gov/releases/z1/; see under "Level tables."
This table is current as of January 2018.
|
(NSA, $Bil)
|
2007
|
2010
|
2013
|
2014
|
2015
|
2016
|
Q1:17
|
Q2:17
|
Q3:17
|
|---|---|---|---|---|---|---|---|---|---|
|
Federal Government1
|
|||||||||
| Consumer Credit |
$115.66
|
$363.78
|
$735.52
|
$835.56
|
$949.67
|
$1,049.29
|
$1,087.04
|
$1,098.28
|
$1,136.53
|
| Home Mortgage2 |
$13.67
|
$23.88
|
$25.61
|
$26.79
|
$28.42
|
$29.91
|
$28.96
|
$29.47
|
$29.13
|
|
U.S.-Chartered Depository Institutions
|
|||||||||
| Consumer Credit |
$894.88
|
$1,185.51
|
$1,271.57
|
$1,343.11
|
$1,428.33
|
$1,532.09
|
$1,487.07
|
$1,514.30
|
$1,541.42
|
| Home Mortgage2 |
$3,068.86
|
$2,615.61
|
$2,385.66
|
$2,390.45
|
$2,433.86
|
$2,509.91
|
$2,491.24
|
$2,525.55
|
$2,545.14
|
|
Credit Unions
|
|||||||||
| Consumer Credit |
$236.57
|
$226.47
|
$265.56
|
$302.78
|
$342.32
|
$380.28
|
$386.90
|
$404.27
|
$417.20
|
| Home Mortgage2 |
$280.21
|
$316.96
|
$345.89
|
$372.47
|
$404.87
|
$439.41
|
$447.32
|
$456.14
|
$470.61
|
|
Government-Sponsored Enterprises3
|
|||||||||
| Home Mortgage2 |
$447.86
|
$4,690.72
|
$4,546.39
|
$4,538.05
|
$4,570.99
|
$4,644.78
|
$4,687.81
|
$4,702.76
|
$4,735.11
|
|
Issuers of Asset-Backed Securities4
|
|||||||||
| Consumer Credit |
$652.51
|
$50.34
|
$49.15
|
$49.79
|
$46.01
|
$50.01
|
$56.04
|
$56.45
|
$52.73
|
| Home Mortgage2 |
$2,234.07
|
$1,315.24
|
$792.60
|
$699.61
|
$602.61
|
$522.21
|
$510.46
|
$496.66
|
$480.44
|
|
Finance Companies
|
|||||||||
| Consumer Credit |
$577.89
|
$704.99
|
$679.14
|
$684.10
|
$561.33
|
$547.90
|
$541.86
|
$542.70
|
$540.22
|
| Home Mortgage2 |
$493.66
|
$169.53
|
$114.73
|
$104.62
|
$123.43
|
$106.78
|
$104.92
|
$100.53
|
$99.04
|
| Source: Board of Governors of the Federal Reserve System, Financial Accounts of the United States (Z.1) Notes: NSA = not seasonally adjusted 1 “Federal Government” includes loans originated by the U.S. Department of Education under the Federal Direct Loan Program, as well as Federal Family Education Loan Program loans that the government purchased from depository institutions and finance companies. 2 Mortgages on one- to four-family properties; this applies to home mortgages in all categories. 3 This sector includes Federal Home Loan Banks (FHLB), Fannie Mae, Freddie Mac, Sallie Mae, Farm Credit System, the Financing Corporation, and Resolution Funding Corporation (REFCORP). 4 This includes special-purpose vehicles established contractually to hold assets and issue debt obligations backed by the assets. These assets have been transferred off the balance sheet of the institution that originated the loan to the special-purpose vehicles. |
|||||||||
| Source: Board of Governors of the Federal Reserve System, Financial Accounts of the United States (Z.1) |
| Source: Board of Governors of the Federal Reserve System, Financial Accounts of the United States (Z.1) |
Credit Performance
Loan Charge-Offs
The charge-off statistics released by the Federal Reserve Board are calculated from data available in the Report of Condition and Income (Call Report), which is filed each quarter by all commercial banks. Charge-off rates for any category of loan are defined as the flow of a bank's net charge-offs (gross charge-offs minus recoveries) during a quarter, divided by the average level of its loans outstanding over that quarter. Data for each calendar quarter become available approximately 60 days after the end of the quarter.
Access at www.federalreserve.gov/releases/chargeoff/
Note: Net charge-offs can only be accessed using the Data Download Program (DDP) tool on the website.
|
2007
|
2010
|
2013
|
2014
|
2015
|
2016
|
Q1:17
|
Q2:17
|
Q3:17
|
|
|---|---|---|---|---|---|---|---|---|---|
|
Charge-Off Rate1 (SAAR, %)
|
|||||||||
| Consumer Loans |
2.48
|
5.89
|
2.16
|
1.93
|
1.75
|
1.91
|
2.18
|
2.13
|
2.23
|
| Credit Cards |
3.99
|
9.41
|
3.48
|
3.16
|
2.93
|
3.15
|
3.46
|
3.55
|
3.57
|
| Residential Real Estate Loans2 |
0.26
|
2.11
|
0.66
|
0.29
|
0.21
|
0.10
|
0.06
|
0.04
|
0.04
|
|
Net Charge-Offs3 (NSA, $Mil)
|
|||||||||
| Consumer Loans |
$21,820
|
$74,350
|
$26,267
|
$24,058
|
$22,706
|
$26,313
|
$8,035
|
$7,444
|
$7,471
|
| Credit Cards |
$13,254
|
$61,886
|
$21,039
|
$19,135
|
$18,116
|
$20,728
|
$6,056
|
$6,126
|
$5,829
|
| Residential Real Estate Loans2 |
$5,036
|
$44,281
|
$13,383
|
$5,847
|
$4,224
|
$2,116
|
$373
|
$173
|
$214
|
| Sources: Federal Financial Institutions Examination Council; FRB Call Report; Board of Governors of the Federal Reserve System Notes: SAAR = seasonally adjusted annual rate, NSA = not seasonally adjusted Annual data are aggregated by averaging quarterly values. 1 The charge-off rate is the flow of a bank’s net charge-offs (gross charge-offs minus recoveries) during a quarter divided by the average level of its loans outstanding over that quarter multiplied by 400 to express the ratio as an annual percentage rate. Charge-off loans are reported on schedule RI-B and the average levels of loans on schedule RC-K. 2 Residential real estate loans include loans secured by one- to four-family properties, including home equity lines of credit. 3 Charge-offs are the value of loans and leases removed from the books and charged against loss reserves. |
|||||||||
| Sources: Federal Financial Institutions Examination Council; FRB Call Report; Board of Governors of the Federal Reserve System |
| Sources: Federal Financial Institutions Examination Council; FRB Call Report; Board of Governors of the Federal Reserve System Note: Quarters are annualized to reflect how much change will occur over a year’s time if charge-offs continue to grow at the current quarter’s growth rate. |
| Sources: Federal Financial Institutions Examination Council; FRB Call Report; Board of Governors of the Federal Reserve System |
Loan Delinquencies
The delinquency statistics presented on the Federal Reserve Board's website are calculated from data available in the Report of Condition and Income (Call Report), which is filed each quarter by all commercial banks. The delinquency rate for any loan category is the ratio of the dollar amount of a bank's delinquent loans in that category to the dollar amount of total loans outstanding in that category. Data for each calendar quarter become available approximately 60 days after the end of the quarter.
Access at www.federalreserve.gov/releases/chargeoff/ 
Note: Delinquencies can only be accessed using the DDP tool on the website
|
2007
|
2010
|
2013
|
2014
|
2015
|
2016
|
Q1:17
|
Q2:17
|
Q3:17
|
|
|---|---|---|---|---|---|---|---|---|---|
|
Delinquency Rate1 (SAAR, %)
|
|||||||||
| Consumer Loans |
3.40
|
3.63
|
2.37
|
2.09
|
2.01
|
2.16
|
2.18
|
2.21
|
2.27
|
| Credit Cards |
4.59
|
4.12
|
2.38
|
2.15
|
2.15
|
2.36
|
2.42
|
2.48
|
2.53
|
| Residential Real Estate Loans2 |
3.08
|
10.37
|
8.32
|
6.53
|
5.08
|
4.14
|
3.91
|
3.70
|
3.62
|
|
Delinquencies3 (NSA, EOP, $ Mil)
|
|||||||||
| Consumer Loans |
$33,766
|
$46,075
|
$31,084
|
$28,608
|
$26,066
|
$33,222
|
$29,553
|
$29,930
|
$33,394
|
| Credit Cards |
$17,376
|
$27,489
|
$15,162
|
$14,098
|
$14,753
|
$17,223
|
$16,108
|
$16,083
|
$17,965
|
| Residential Real Estate Loans2 |
$65,956
|
$220,410
|
$169,270
|
$135,909
|
$109,828
|
$90,999
|
$82,950
|
$77,510
|
$78,820
|
| Sources: Federal Financial Institutions Examination Council; FRB Call Report; Board of Governors of the Federal Reserve System Notes: NSA = not seasonally adjusted, EOP = end of period Yearly figures take fourth quarter values. 1 “Delinquency Rate” is the delinquent loan/lease as a percent of end-of-period loan/lease balance. 2 Residential real estate loans include loans secured by one- to four-family properties, including home equity lines of credit. 3 Delinquent loans include those past due 30 days or more and still accruing interest, as well as those on nonaccrual status. |
|||||||||
| Sources: Federal Financial Institutions Examination Council; FRB Call Report; Board of Governors of the Federal Reserve System |
| Sources: Federal Financial Institutions Examination Council; FRB Call Report; Board of Governors of the Federal Reserve System |
Bankruptcy
The statistics used to measure bankruptcy filings come from the Administrative Office of the United States Courts. Included are bankruptcy filings by both business and nonbusiness entities. Note that the surge of bankruptcies in 2005 was due to the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), which took effect on October 17, 2005. All entries in the table are annual figures except for the columns that reference specific quarters.
Access at http://www.uscourts.gov/report-name/bankruptcy-filings
|
2007
|
2008
|
2009
|
2010
|
2011
|
2012
|
2013
|
2014
|
2015
|
2016
|
Q1:17
|
Q2:17
|
Q3:17
|
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total |
849,412
|
1,115,813
|
1,472,238
|
1,592,669
|
1,410,918
|
1,221,091
|
1,071,589
|
935,898
|
844,495
|
794,960
|
201,231
|
210,342
|
194,830
|
| Nonbusiness |
821,275
|
1,072,952
|
1,411,708
|
1,536,623
|
1,363,015
|
1,181,016
|
1,038,528
|
909,049
|
819,760
|
770,846
|
195,516
|
203,976
|
189,540
|
| Source: Administrative Office of the United States Courts Note: All annual entries in the table include revisions, whereas the quarterly series do not. |
|||||||||||||
| Source: Administrative Office of the United States Courts Note: The quarterly figures are not annualized. |
Credit Standards and the Demand for Credit
The data used to describe banks’ credit standards and demand for consumer loans come from two questions asked by the Senior Loan Officer Opinion Survey (SLOOS). This survey covers approximately 60 large domestic banks. The Federal Reserve generally conducts the survey quarterly, timing it so that results are available for the January/February, April/May, August, and October/November meetings of the Federal Open Market Committee (FOMC). Questions cover changes in the standards and terms of the banks’ lending and the state of business and household demand for loans, or occasionally, specific topics of current interest. Notably, the SLOOS was updated in 2011 and revised as to how it asked respondents about changes in demand for consumer credit. Currently, the survey captures demand for consumer credit with multiple questions, whereas from 1998 to 2010, this information was gathered with one question. This survey methodology delineation is marked on the following graph.
Access at www.federalreserve.gov/boarddocs/snloansurvey/
| Source: Senior Loan Officer Opinion Survey, Board of Governors of the Federal Reserve System Note: The height of the line in the graph above is the net percentage of banks tightening credit standards for new credit card applicants. |
| Source: Senior Loan Officer Opinion Survey, Board of Governors of the Federal Reserve System Notes: The height of the line in the graph above is the net percentage of banks with strengthening demand for consumer loans. The black vertical line represents the cutoff between the two survey methodologies. |
National, State, and Regional Data on Mortgage Applications
The Home Mortgage Explorer draws from publicly available Home Mortgage Disclosure Act (HMDA) data and enables users to explore trends in residential mortgage lending for national, state, metropolitan, and nonmetropolitan geographies. The Explorer includes information on the number of originated mortgages, application denial rates, and the reasons given by lenders for denying applications. Trends can be examined by loan type (e.g., conventional, Federal Housing Administration) and loan purpose (e.g., home purchase, refinance), and all measures are provided by applicant and neighborhood income.
Access at www.philadelphiafed.org/hme
Credit at the Family Level
The data used to describe the revolving credit of families come from the Survey of Consumer Finances (SCF). The SCF is a triennial survey of the balance sheet, pension, income, and other demographic characteristics of U.S. families. The survey also gathers information on the use of financial institutions.
Access at www.federalreserve.gov/pubs/oss/oss2/scfindex.html
|
1995
|
1998
|
2001
|
2004
|
2007
|
2010
|
2013
|
2016
|
|
|---|---|---|---|---|---|---|---|---|
| All Families |
87.4
|
90.6
|
91.4
|
91.3
|
92.1
|
92.5
|
93.2
|
98.0
|
|
Income Percentile
|
||||||||
| Less than 20% |
63.2
|
68.8
|
71.6
|
75.5
|
74.9
|
76.2
|
79.1
|
94.2
|
| 20–39.9% |
85.2
|
90.3
|
90.3
|
87.3
|
90.1
|
91.1
|
90.7
|
96.3
|
| 40–59.9% |
92.0
|
95.4
|
96.6
|
95.9
|
96.3
|
96.4
|
97.2
|
99.4
|
| 60–79.9% |
97.3
|
98.9
|
99.1
|
98.4
|
99.3
|
98.9
|
99.1
|
99.9
|
| 80–89.9% |
98.7
|
99.6
|
99.7
|
99.1
|
100.0
|
99.8
|
99.8
|
99.8
|
| 90–100% |
99.8
|
100.0
|
99.2
|
100.0
|
100.0
|
99.9
|
100.0
|
100.0
|
|
Age of Family Head
|
||||||||
| 35 or younger |
80.9
|
84.7
|
87.1
|
86.4
|
87.3
|
89.0
|
90.2
|
97.7
|
| 35–44 |
87.6
|
90.5
|
91.1
|
90.8
|
91.2
|
90.6
|
91.8
|
97.3
|
| 45–54 |
89.2
|
94.1
|
92.7
|
91.8
|
91.7
|
92.5
|
91.8
|
98.5
|
| 55–64 |
88.8
|
93.9
|
93.8
|
93.2
|
96.4
|
94.2
|
94.6
|
98.0
|
| 65–74 |
91.7
|
94.1
|
93.8
|
93.9
|
94.6
|
95.8
|
97.1
|
98.6
|
| 75 or older |
93.2
|
90.0
|
93.7
|
96.4
|
95.3
|
96.4
|
96.7
|
97.8
|
|
Housing Status
|
||||||||
| Homeowner |
95.3
|
96.4
|
96.7
|
96.0
|
97.3
|
97.4
|
97.5
|
99.0
|
| Renter or not homeowner |
72.9
|
79.4
|
80.3
|
80.9
|
80.8
|
82.4
|
85.2
|
96.2
|
|
1995
|
1998
|
2001
|
2004
|
2007
|
2010
|
2013
|
2016
|
|
|---|---|---|---|---|---|---|---|---|
| All Families |
3.3
|
4.5
|
5.4
|
4.8
|
4.6
|
3.9
|
4.2
|
4.5
|
|
Income Percentile
|
||||||||
| Less than 20% |
1,100
|
1,000
|
1,200
|
800
|
900
|
700
|
600
|
600
|
| 20–39.9% |
2,000
|
2,200
|
2,400
|
1,900
|
1,900
|
1,700
|
1,400
|
1,700
|
| 40–59.9% |
2,400
|
3,300
|
3,800
|
3,800
|
3,200
|
3,100
|
3,100
|
3,800
|
| 60–79.9% |
3,800
|
6,300
|
7,000
|
8,300
|
6,900
|
5,900
|
7,000
|
8,200
|
| 80–89.9% |
6,500
|
11,100
|
12,800
|
14,000
|
14,900
|
12,300
|
13,900
|
18,700
|
| 90–100% |
20,800
|
26,600
|
35,200
|
35,600
|
42,500
|
38,700
|
52,600
|
62,000
|
|
Age of Family Head
|
||||||||
| 35 or younger |
1,900
|
2,200
|
2,400
|
2,300
|
2,800
|
2,300
|
2,300
|
2,600
|
| 35–44 |
3,100
|
4,200
|
4,600
|
3,800
|
4,000
|
2,800
|
3,900
|
3,800
|
| 45–54 |
4,700
|
6,500
|
6,200
|
6,100
|
5,800
|
3,900
|
4,100
|
4,100
|
| 55–64 |
4,900
|
6,000
|
7,500
|
8,500
|
6,000
|
5,600
|
5,200
|
5,400
|
| 65–74 |
5,100
|
8,300
|
10,800
|
7,000
|
8,900
|
6,300
|
7,200
|
8,000
|
| 75 or older |
7,800
|
8,900
|
9,900
|
8,200
|
7,100
|
8,000
|
7,200
|
10,000
|
|
Housing Status
|
||||||||
| Homeowner |
4,700
|
7,200
|
7,900
|
7,600
|
7,200
|
6,400
|
7,300
|
9,000
|
| Renter or not homeowner |
1,800
|
1,600
|
1,600
|
1,400
|
1,400
|
1,100
|
1,200
|
1,200
|
|
1995
|
1998
|
2001
|
2004
|
2007
|
2010
|
2013
|
2016
|
|
|---|---|---|---|---|---|---|---|---|
| All Families |
47.3
|
44.1
|
44.4
|
46.2
|
46.1
|
39.4
|
38.1
|
43.9
|
|
Income Percentile
|
||||||||
| Less than 20% |
26.0
|
24.5
|
30.3
|
28.8
|
25.7
|
23.2
|
19.6
|
29.0
|
| 20–39.9% |
43.2
|
40.9
|
44.5
|
42.9
|
39.5
|
33.4
|
34.2
|
41.7
|
| 40–59.9% |
52.9
|
50.1
|
52.8
|
55.1
|
54.8
|
45.0
|
46.9
|
53.0
|
| 60–79.9% |
60.0
|
57.4
|
52.6
|
56.1
|
62.1
|
53.1
|
49.8
|
52.8
|
| 80–89.9% |
61.0
|
53.1
|
50.3
|
57.6
|
55.8
|
51.0
|
48.2
|
51.5
|
| 90–100% |
47.3
|
42.1
|
33.1
|
38.5
|
40.6
|
33.6
|
32.2
|
34.4
|
|
Age of Family Head
|
||||||||
| 35 or younger |
54.7
|
50.7
|
49.6
|
47.5
|
48.5
|
38.7
|
36.8
|
45.4
|
| 35–44 |
55.9
|
51.3
|
54.1
|
58.8
|
51.7
|
45.6
|
41.7
|
49.1
|
| 45–54 |
56.4
|
52.5
|
50.4
|
54.0
|
53.6
|
46.2
|
44.3
|
52.3
|
| 55–64 |
43.2
|
45.7
|
41.6
|
42.1
|
49.9
|
41.3
|
43.4
|
41.4
|
| 65–74 |
30.5
|
29.2
|
30.0
|
31.9
|
37.0
|
31.9
|
32.8
|
42.1
|
| 75 or older |
17.5
|
11.2
|
18.4
|
23.5
|
18.8
|
21.7
|
21.1
|
26.2
|
|
Housing Status
|
||||||||
| Homeowner |
51.1
|
46.2
|
44.4
|
48.8
|
50.1
|
43.1
|
42.0
|
46.4
|
| Renter or not homeowner |
40.3
|
40.0
|
44.3
|
40.4
|
37.3
|
31.8
|
30.9
|
39.5
|
|
1995
|
1998
|
2001
|
2004
|
2007
|
2010
|
2013
|
2016
|
|
|---|---|---|---|---|---|---|---|---|
| All Families |
4,700
|
6,100
|
5,600
|
6,500
|
8,500
|
7,800
|
5,900
|
5,700
|
|
Income Percentile
|
||||||||
| Less than 20% |
1,100
|
1,400
|
1,400
|
1,300
|
1,200
|
1,100
|
1,000
|
800
|
| 20–39.9% |
1,900
|
1,800
|
1,700
|
2,400
|
2,100
|
1,700
|
1,400
|
1,800
|
| 40–59.9% |
2,300
|
2,800
|
2,700
|
2,700
|
2,800
|
2,400
|
2,200
|
2,000
|
| 60–79.9% |
2,400
|
3,200
|
3,100
|
3,800
|
4,600
|
3,400
|
3,100
|
3,100
|
| 80–89.9% |
3,100
|
3,000
|
5,100
|
3,400
|
6,400
|
6,500
|
4,600
|
4,800
|
| 90–100% |
4,400
|
4,400
|
3,800
|
5,100
|
8,700
|
8,800
|
4,100
|
6,000
|
|
Age of Family Head
|
||||||||
| 35 or younger |
2,000
|
2,200
|
2,700
|
1,900
|
2,100
|
1,800
|
1,500
|
1,400
|
| 35–44 |
3,000
|
3,000
|
2,700
|
3,200
|
4,100
|
3,900
|
2,600
|
2,500
|
| 45–54 |
3,100
|
2,700
|
3,100
|
3,700
|
4,200
|
3,900
|
2,700
|
2,800
|
| 55–64 |
2,000
|
3,000
|
2,600
|
2,800
|
4,200
|
3,100
|
3,100
|
2,800
|
| 65–74 |
1,300
|
1,600
|
1,300
|
2,800
|
3,500
|
2,400
|
2,400
|
2,500
|
| 75 or older |
500
|
1,000
|
1,000
|
1,300
|
900
|
2,000
|
2,000
|
2,100
|
|
Housing Status
|
||||||||
| Homeowner |
2,300
|
3,000
|
2,800
|
3,200
|
4,200
|
3,800
|
2,900
|
3,000
|
| Renter or not homeowner |
1,500
|
1,900
|
1,600
|
1,900
|
1,500
|
1,400
|
1,500
|
1,300
|
Maps of Local Credit Quality
The Federal Reserve Bank of New York publishes regional information on consumer credit conditions.
Consumer Payments Snapshot
This snapshot includes statistics on credit and debit cards and other noncash payments as well as households’ revolving credit.
U.S. Currency
The data showing the value of banknotes and coins issued in the U.S. comes from a report released by The Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI). The report, Statistics on Payment, Clearing and Settlement Systems in the CPMI Countries, is published annually.
Access at https://www.bis.org/cpmi/publ/d172.pdf
|
(EOP, SA, $Bil)
|
2012
|
2013
|
2014
|
2015
|
2016
|
|---|---|---|---|---|---|
| Banknotes Issued |
$1,127.10
|
$1,198.35
|
$1,299.14
|
$1,379.96
|
$1,463.36
|
USD 100 |
$863.07
|
$924.71
|
$1,014.50
|
$1,082.24
|
$1,154.77
|
USD 50 |
$72.52
|
$74.48
|
$76.93
|
$79.81
|
$83.49
|
USD 20 |
$148.95
|
$155.00
|
$162.17
|
$171.28
|
$177.24
|
USD 10 |
$17.75
|
$18.46
|
$18.89
|
$18.95
|
$19.24
|
USD 5 |
$12.22
|
$12.70
|
$13.12
|
$13.71
|
$14.22
|
USD 1 |
$10.30
|
$10.61
|
$11.04
|
$11.39
|
$11.74
|
Other |
$2.30
|
$2.40
|
$2.49
|
$2.58
|
$2.66
|
| Coin Issued |
$42.03
|
$42.82
|
$43.74
|
$44.97
|
$45.97
|
USD 1 |
$4.93
|
$5.02
|
$5.08
|
$5.17
|
$5.24
|
Fractional Coins |
$37.10
|
$37.80
|
$38.66
|
$39.79
|
$40.74
|
| Total Banknotes and Coin Issued |
$1,169.13
|
$1,241.16
|
$1,342.88
|
$1,424.93
|
$1,509.34
|
| Banknotes and Coin Held by Banks |
$79.13
|
$81.36
|
$88.78
|
$84.53
|
$86.94
|
| Banknotes and Coin in Circulation Outside Banks |
$1,090.00
|
$1,159.80
|
$1,254.10
|
$1,340.40
|
$1,422.40
|
| Source: Federal Reserve; U.S. Treasury | |||||
Noncash Payments
The data used to describe noncash payments come from the 2007, 2010, 2013, and 2016 editions of the Federal Reserve Payments Study, a triennial survey of the payments industry first conducted in 2001. These studies are part of a Federal Reserve System effort to track noncash payments in the United States, and they reflect the efforts of hundreds of organizations across the country.
Access at https://www.federalreserve.gov/paymentsystems/fr-payments-study.htm
|
20033
|
2006
|
20093
|
20124
|
20151
|
||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Volume
(Bil) |
Value
($Tril) |
Volume
(Bil) |
Value
($Tril) |
Volume
(Bil) |
Value
($Tril) |
Volume
(Bil) |
Value
($Tril) |
Volume
(Bil) |
Value
($Tril) |
|
| Total Noncash Payments |
81.40
|
$67.58
|
95.20
|
$75.70
|
108.10
|
$72.17
|
122.40
|
$174.44
|
144.10
|
$177.85
|
| Checks (Paid)1 |
37.30
|
$41.15
|
30.50
|
$41.60
|
24.50
|
$31.60
|
18.30
|
$25.85
|
17.30
|
$28.80
|
| Debit Card |
15.60
|
$0.63
|
25.00
|
$1.00
|
37.50
|
$1.40
|
47.00
|
$1.82
|
59.60
|
$2.29
|
|
Signature
|
10.30
|
$0.40
|
15.70
|
$0.60
|
23.10
|
$0.80
|
22.20
|
$0.65
|
31.20
|
$0.98
|
|
PIN
|
5.30
|
$0.20
|
9.40
|
$0.40
|
14.40
|
$0.60
|
16.90
|
$0.69
|
20.70
|
$0.82
|
| Prepaid Card2 |
0.80
|
$0.02
|
3.30
|
$0.08
|
5.90
|
$0.14
|
9.20
|
$0.22
|
9.90
|
$0.30
|
|
EBT
|
0.80
|
$0.02
|
1.10
|
$0.03
|
2.00
|
$0.05
|
2.50
|
$0.07
|
2.60
|
$0.08
|
| Credit Card |
19.00
|
$1.68
|
21.70
|
$2.10
|
21.00
|
$1.87
|
26.20
|
$2.48
|
33.80
|
$3.08
|
| ACH |
8.80
|
$24.11
|
14.60
|
$31.00
|
19.10
|
$37.16
|
21.70
|
$144.08
|
23.50
|
$145.30
|
| *additional debit card fields are included therefore signature and pin do not sum to total
Sources: 2016, 2013, 2010, and 2007 Federal Reserve Payments Study Data from 2015 are preliminary and subject to adjustments. Further detail will be available in 2017. 1 The nominal values of checks (paid) increased (displayed in the table). However, in constant dollars, the value of checks (paid) showed a growth rate of -2.5 percent per year. 2 Revisions made to the 2007 and 2010 studies recategorized prepaid cards so as not to include them with debit card estimates. 3 The 2003 and 2009 values are updated to include new information from the 2013 study. 4 The 2013 Federal Reserve Payments Study ACH payments include “on-us” payments previously believed to be offset entries. As a result, the values reported for the volume and value of ACH and total noncash payments are not comparable with earlier years. |
||||||||||
Noncash Payments Volume (Bil)
Noncash Payments Value (Tril)
Comparing Consumers' Use with Business’ Use of Noncash Payments
A new dataset available in the 2016 Federal Reserve Payments Study is a contrast of consumers' use with businesses' use of noncash payment instruments.
|
Consumer
|
Business
|
|
|---|---|---|
| Debit |
0.58
|
0.09
|
| Credit |
0.25
|
0.21
|
| Check |
0.08
|
0.33
|
| ACH Network Debit |
0.09
|
0.04
|
| ACH Network Credit |
<0.01
|
0.33
|
| Note: Some small business payments could have been identified as consumer payments. Totals may not equal 100% because of rounding. |
||
| Source: 2016 Federal Reserve Payments Study: “Exploring Trends in Noncash Payments in the United States,” presented at NACHA Payments Conference 2017 |
Unauthorized Transactions
The 2015 and 2016 data used to describe unauthorized transactions come from the Federal Reserve Payments Study: 2017 Annual Supplement. This annual supplementary data collection is conducted to keep information current between the triennial Federal Reserve Payments Study (FRPS). An unauthorized transaction is a transaction made or attempted by an individual who is not authorized by the accountholder or cardholder to use a payment instrument (e.g., ACH, check, credit card, or debit/ATM card) to purchase goods and services, initiate funds transfers, or withdraw cash from an ATM.
Access at https://www.federalreserve.gov/paymentsystems/fr-payments-study.htm
| Fraud Type | 2015 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
U.S.
|
Australia
|
Canada
|
France
|
United Kingdom
|
||||||
| Counterfeit card |
44
|
4
|
8
|
0
|
8
|
|||||
| Lost or stolen card |
11
|
10
|
5
|
32
|
13
|
|||||
| Card issued but not received |
1
|
4
|
1
|
1
|
2
|
|||||
| Fraudulent application |
3
|
0
|
3
|
n/a
|
2
|
|||||
| Fraudulent use of account number |
39
|
81
|
81
|
67
|
70
|
|||||
| Other |
2
|
1
|
3
|
1
|
4
|
|||||
| Sources: 2016 Federal Reserve Payments Study – initial data release Note: More data will be available later in 2017. |
||||||||||
| Fraud Type | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
2015
|
2016
|
Change
|
||||||||
| Total Fraud |
100.0
|
100.0
|
0.0
|
|||||||
|
Counterfeit card
|
43.7
|
36.0
|
-7.7
|
|||||||
|
Lost or stolen card
|
10.8
|
11.2
|
0.4
|
|||||||
|
Card issued but not received
|
0.7
|
0.8
|
0.1
|
|||||||
|
Fraudulent application
|
3.2
|
5.2
|
2.0
|
|||||||
|
Fraudulent use of account number
|
39.2
|
44.2
|
5.1
|
|||||||
|
Other
|
2.4
|
2.6
|
0.2
|
|||||||
| Total Fraud |
100.0
|
100.0
|
0.0
|
|||||||
| Channels | ||||||||||
|
In person
|
53.8
|
41.5
|
-12.3
|
|||||||
|
Remote
|
46.2
|
58.5
|
12.3
|
|||||||
| Source: Federal Reserve Payments Study: 2017 Annual Supplement Note: Figures may not sum because of rounding. The 2015 percentages are restated. |
||||||||||
|
Instrument/Method
|
Number
|
Value
|
||||
|---|---|---|---|---|---|---|
|
Unauthorized
(Mil) |
Total
(Bil) |
Rate
(Bps) |
Unauthorized
($Bil) |
Total
($Tril) |
Rate
(Bps) |
|
| All Fraud Types |
32.3
|
119.7
|
2.70
|
$6.4
|
$174.7
|
0.37
|
|
All GP Cards
|
29.8
|
79.7
|
3.74
|
$4.1
|
$4.8
|
8.43
|
|
GP credit card
|
13.7
|
23.8
|
5.74
|
$2.3
|
$2.2
|
10.23
|
|
Card-present
|
7.1
|
18.0
|
3.92
|
$1.1
|
$1.2
|
9.15
|
|
Card-not-present
|
6.6
|
5.8
|
11.44
|
$1.1
|
$1.0
|
11.58
|
|
GP debit, prepaid, and ATM
|
16.1
|
55.9
|
2.89
|
$1.8
|
$2.6
|
6.91
|
|
GP debit and prepaid
|
14.9
|
50.1
|
2.97
|
$1.5
|
$1.9
|
8.04
|
|
Signature
|
14.0
|
32.2
|
4.36
|
$1.4
|
$1.2
|
11.91
|
|
Card-present
|
8.0
|
26.2
|
3.07
|
$1.0
|
$0.8
|
12.45
|
|
Card-not-present
|
6.0
|
5.9
|
10.10
|
$0.5
|
$0.4
|
10.90
|
|
PIN
|
0.8
|
17.9
|
0.47
|
$0.1
|
$0.7
|
1.70
|
|
ATM withdrawals
|
1.3
|
5.8
|
2.21
|
$0.3
|
$0.7
|
3.74
|
|
ACH
|
1.7
|
21.7
|
0.77
|
$1.2
|
$144.1
|
0.09
|
|
ACH credits
|
0.5
|
8.8
|
0.59
|
$0.4
|
$77.4
|
0.05
|
|
ACH debits
|
1.2
|
12.9
|
0.89
|
$0.8
|
$66.7
|
0.13
|
|
Check
|
0.9
|
18.3
|
0.47
|
$1.1
|
$25.9
|
0.43
|
| Source: 2013 Federal Reserve Payments Study Figures may not add up to 100 percent because of rounding. GP denotes general purpose. Bps denotes basis points; these are the number of unauthorized transactions per 10,000 transactions or the value of unauthorized transactions per $10,000 spent. One hundred basis points equal 1 percent. Note: More data will be available later in 2017. |
||||||
| Source: 2013 Federal Reserve Payments Study GP denotes general purpose. Note: More data will be available later in 2017. |
|
GP Credit Card
|
GP Debit Card
|
ATM Withdrawals
|
ACH
|
Check
|
|---|---|---|---|---|
|
$136
|
$104
|
$199
|
$736
|
$1,272
|
| Source: 2013 Federal Reserve Payments Study GP denotes general purpose. Debit card includes prepaid cards. |
||||
| Source: 2013 Federal Reserve Payments Study Basis points are the number of unauthorized transactions per 10,000 transactions or the value of unauthorized transactions per $10,000 spent. One hundred basis points equal 1 percent. |
| Source: 2013 Federal Reserve Payments Study GP denotes general purpose. Basis points are the number of unauthorized transactions per 10,000 transactions or the value of unauthorized transactions per $10,000 spent. One hundred basis points equal 1 percent. The variation between types of payment instrument is represented by color, while the variation between type of payment initiation is represented by shape. The 45-degree line is a collection of points for which the rate of volume and the rate of value are equal in terms of basis points. Note: More data will be available later in 2017 |
Checks
The data used to describe checks come from the 2007, 2010, 2013, and 2016 Federal Reserve Payments Study. Also used to describe checks are data from the 2016 Federal Reserve Check Sample Study, a triennial survey of the payments industry first conducted in 2001. These studies are part of a Federal Reserve System effort to track noncash payments in the United States, and they reflect the activities of financial institutions, networks, and other providers of payment services across the country. The 2016 Depository Institutions Payment Study is a random sample of depository institutions that collects the number and value of different types of payments and contributes to the estimates of total checks written. The 2016 Check Sample Study is a random sample of checks processed by 11 large commercial banks used to estimate the distribution of checks among various counterparties. “On-us” are transactions in which the bank that issues your card is the same as the one which owns the ATM or POS terminal on which you made the transaction.
Access at https://www.federalreserve.gov/paymentsystems/fr-payments-study.htm
| 2012 | 2015 | 2016 | |||||||
|---|---|---|---|---|---|---|---|---|---|
|
Volume
(Bil) |
Value
($Tril) |
Volume
(Bil) |
Value
($Tril) |
Volume
(Bil) |
Value
($Tril) |
||||
| Interbank |
14.1
|
$17.44
|
13.3
|
$20.92
|
12.8
|
$20.13
|
|||
| On-Us |
5.6
|
$9.77
|
4.3
|
$7.88
|
4.1
|
$7.62
|
|||
| Source: Federal Reserve Payments Study: 2017 Annual Supplement 2016 figures are imputed from 2015-2016 difference estimates 2016 estimates were derived from data from just 80 large depository institutions, <7% of the number of institutions that provided data for the 2015 triennial study. Therefore the rates reported may serve as indicators but are less reliable than the full, representative sample. *Excludes checks converted to ACH |
|||||||||
|
20031
|
2006
|
20091
|
2012
|
|||||
|---|---|---|---|---|---|---|---|---|
|
Number
(Bil) |
Value
($Tril) |
Number
(Bil) |
Value
($Tril) |
Number
(Bil) |
Value
($Tril) |
Number
(Bil) |
Value
($Tril) |
|
| Total |
37.3
|
$41.2
|
30.5
|
$41.6
|
24.5
|
$31.6
|
18.3
|
$25.9
|
| Commercial Banks |
29.7
|
$38.4
|
25.0
|
$39.0
|
20.7
|
$29.2
|
15.8
|
$24.0
|
| Credit Unions |
4.2
|
$0.9
|
2.8
|
$0.8
|
2.1
|
$0.7
|
1.5
|
$0.7
|
| Savings Institutions |
3.0
|
$1.5
|
2.3
|
$1.6
|
1.3
|
$1.3
|
0.8
|
$1.0
|
| Sources: The 2007, 2010, and 2013 Federal Reserve Payments Study 1 The 2003 and 2009 values are updated to include new information from the 2013 study. |
||||||||
| Note: More data will be available later in 2017 |
| Dollar Amount Range |
Distribution
|
|---|---|
| $0.01–$50 |
26%
|
| $50.01–$100 |
15%
|
| $100.01–$500 |
34%
|
| $500.01–$1,000 |
11%
|
| $1,000.01–$2,500 |
8%
|
| $2,500.01–$5,000 |
3%
|
| $5,000.01 + |
4%
|
| Source: 2015 Federal Reserve Payments Study |
|
| Counterparty |
2006
|
2009
|
2012
|
2015
|
|---|---|---|---|---|
| C2B |
51.4%
|
10.5%
|
44.9%
|
45.5%
|
| C2C |
6.6%
|
22.1%
|
10.6%
|
9.4%
|
| B2B |
25.1%
|
14.4%
|
28.7%
|
17.8%
|
| B2C |
16.8%
|
19.0%
|
16.0%
|
27.3%
|
| Source: 2015 Federal Reserve Payments Study Figures may not sum because of rounding. Definitions: C2B: Consumer-to-Business C2C: Consumer-to-Consumer B2B: Business-to-Business B2C: Business-to-Consumer |
||||
| Counterparty |
Distribution
|
|---|---|
| C2B |
15.6%
|
| C2C |
3.7%
|
| B2B |
67.3%
|
| B2C |
13.3%
|
| Source: 2015 Federal Reserve Payments Study Figures may not sum because of rounding. Definitions: C2B: Consumer-to-Business C2C: Consumer-to-Consumer B2B: Business-to-Business B2C: Business-to-Consumer |
|
Credit Cards
The data used to describe credit cards come from the 2007, 2010, 2013, and 2016 Federal Reserve Payments Study. Also used to describe credit cards are data from The Nilson Report, a twice-monthly newsletter from a firm in Carpinteria, CA. These studies are part of a Federal Reserve System effort to track noncash payments in the United States, and they reflect the efforts of hundreds of organizations across the country. The statistics for the number of cards and cardholders are from The Nilson Report. The values for years prior to 2008 are as reported in the Statistical Abstract of the United States. The more recent values were obtained directly from The Nilson Report.
Access at
- https://www.federalreserve.gov/paymentsystems/fr-payments-study.htm
- https://www.census.gov/library/publications/time-series/statistical_abstracts.html
(Section 25. Banking, Finance, and Insurance)
|
Volume (Bil)
|
% of Total
|
Value ($Bil)
|
% of Total
|
|
|---|---|---|---|---|
| <$5 |
3.3
|
10.5%
|
0.01
|
0.3%
|
| $5 ‒ 14.99 |
6.8
|
22.1%
|
0.06
|
2.3%
|
| $15 ‒ 24.99 |
4.5
|
14.4%
|
0.09
|
3.1%
|
| $25+ |
16.5
|
53.1%
|
2.64
|
94.3%
|
| Source: 2015 Federal Reserve Payments Study | ||||
|
20031
|
2006
|
20091
|
2012
|
2015
|
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Volume (Bil) |
Value
($Tril) |
Avg.
Value ($) |
Volume
(Bil) |
Value
($Tril) |
Avg.
Value ($) |
Volume
(Bil) |
Value
($Tril) |
Avg.
Value ($) |
Volume
(Bil) |
Value
($Tril) |
Avg.
Value ($) |
Volume
(Bil) |
Value
($Tril) |
Avg.
Value ($) |
|
| Total |
19.0
|
$1.7
|
$89
|
21.7
|
$2.1
|
$98
|
21.0
|
$1.9
|
$89
|
26.2
|
$2.5
|
$96
|
32.8
|
$3.03
|
$109.50
|
| General Purpose |
15.2
|
$1.4
|
$93
|
19.0
|
$1.9
|
$99
|
19.5
|
$1.7
|
$87
|
23.8
|
$2.2
|
$93
|
30.0
|
$2.68
|
$90.00
|
| Private Label |
3.8
|
$0.3
|
$72
|
2.8
|
$0.3
|
$92
|
1.5
|
$0.2
|
$119
|
2.4
|
$0.3
|
$111
|
2.7
|
$0.35
|
$129.00
|
| Source: Triennial Federal Reserve Payments Studies 1 The 2003 and 2009 values are updated to include new information from the 2013 study. Figures may not add up to 100 percent due to rounding. |
|||||||||||||||
| Source: Triennial Federal Reserve Payments Studies |
| Type of Card |
2002
|
2012
|
2013
|
2014
|
2015
|
2016
|
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Cardholders
(Mil) |
Cards
(Mil) |
Cardholders
(Mil) |
Cards
(Mil) |
Cardholders
(Mil) |
Cards
(Mil) |
Cardholders
(Mil) |
Cards
(Mil) |
Cardholders
(Mil) |
Cards
(Mil) |
Cardholders
(Mil) |
Cards
(Mil) |
|
| Total |
163
|
1,446
|
160
|
1,012
|
166
|
1,024
|
172
|
1,047
|
176
|
1,015
|
178
|
1,041
|
| Visa |
95
|
258
|
124
|
245
|
104
|
254
|
108
|
281
|
118
|
281
|
124
|
311
|
| MasterCard |
96
|
267
|
78
|
178
|
79
|
178
|
81
|
180
|
87
|
304
|
91
|
200
|
| Discover/Amex |
64
|
90
|
81
|
114
|
84
|
117
|
81
|
107
|
83
|
110
|
78
|
99
|
| Store |
116
|
547
|
98
|
335
|
100
|
335
|
103
|
344
|
105
|
360
|
108
|
381
|
| Oil Company |
75
|
93
|
29
|
34
|
29
|
33
|
28
|
33
|
28
|
33
|
27
|
32
|
| Source: The Nilson Report, a twice-monthly newsletter based in Carpinteria, CA (used with permission) 1 Cardholders may hold more than one brand or type of card. 2Includes Universal Air Travel Plan (UATP), phone cards, automobile rental, and miscellaneous cards; credit card purchase volume excludes phone cards. |
||||||||||||
| Source: The Nilson Report, a twice-monthly newsletter based in Carpinteria, CA (used with permission) |
Credit Card Interest Rates
The data used to describe credit card interest rates and the rates of return to credit card banks come from the “Profitability of Credit Card Operations of Depository Institutions” report provided by the Board of Governors of the Federal Reserve System. This report is transmitted to the Congress annually and is based mainly on the Call Report, the Quarterly Report of Credit Card Interest Rates, and the Survey of Terms of Credit Card Plans.
Access at https://www.federalreserve.gov/releases/g19/current/default.htm
|
Q1
|
Q2
|
Q3
|
Q4
|
Avg.
|
|
|---|---|---|---|---|---|
| 2003 |
12.85%
|
12.82%
|
13.11%
|
12.91%
|
12.92%
|
| 2004 |
12.41%
|
12.93%
|
13.60%
|
13.92%
|
13.22%
|
| 2005 |
14.13%
|
14.81%
|
14.75%
|
14.48%
|
14.54%
|
| 2006 |
14.38%
|
14.77%
|
14.67%
|
15.09%
|
14.73%
|
| 2007 |
14.64%
|
14.47%
|
15.24%
|
14.35%
|
14.68%
|
| 2008 |
13.77%
|
13.51%
|
13.64%
|
13.36%
|
13.57%
|
| 2009 |
13.54%
|
14.43%
|
14.90%
|
14.37%
|
14.31%
|
| 2010 |
14.67%
|
14.48%
|
14.22%
|
13.67%
|
14.26%
|
| 2011 |
13.44%
|
13.06%
|
13.08%
|
12.78%
|
13.09%
|
| 2012 |
13.04%
|
12.76%
|
13.21%
|
12.81%
|
12.96%
|
| 2013 |
13.01%
|
12.76%
|
13.11%
|
12.89%
|
12.94%
|
| 2014 |
13.41%
|
12.74%
|
13.18%
|
13.68%
|
13.19%
|
| 2015 |
13.53%
|
13.49%
|
13.93%
|
13.70%
|
13.66%
|
| 2016 |
13.51%
|
13.35%
|
13.76%
|
13.61%
|
13.56%
|
| 2017 |
13.86%
|
14.00%
|
14.89%
|
14.99%
|
14.44%
|
| Source: Board of Governors of the Federal Reserve System, Quarterly Report of Credit Card Interest Rates | |||||
Debit Cards
The data used to describe debit cards come from the 2007, 2010, 2013, and 2016 Federal Reserve Payments Study, a triennial survey of the payments industry first conducted in 2001. Also used to describe debit cards is data from The Nilson Report, a twice-monthly newsletter from a firm based in Carpinteria, CA. These studies are part of a Federal Reserve System effort to track noncash payments in the United States, and they reflect the efforts of hundreds of organizations across the country. The statistics for the number of cards and cardholders are from The Nilson Report. The values for years prior to 2008 are as reported in the Statistical Abstract of the United States. The more recent values were obtained directly from The Nilson Report.
Access at www.frbservices.org/communications/payment_system_research.html
|
20031
|
2006
|
20091
|
2012
|
2015
|
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Number
(Bil) |
Value
($Bil) |
Avg.
Value ($) |
Number
(Bil) |
Value
($Bil) |
Avg.
Value ($) |
Number
(Bil) |
Value
($Bil) |
Avg.
Value ($) |
Number
(Bil) |
Value
($Bil) |
Avg.
Value ($) |
Number
(Bil) |
Value
($Bil) |
Avg.
Value ($) |
|
| Total |
15.6
|
$630
|
$40
|
25.0
|
$1,000
|
$39
|
37.5
|
$1,400
|
$37
|
47.0
|
$1,820
|
$39
|
51.9
|
$1,800
|
$36
|
| Signature |
10.3
|
$400
|
$39
|
15.7
|
$600
|
$40
|
23.1
|
$800
|
$35
|
22.2
|
$650
|
$29
|
31.2
|
$980
|
$31
|
| PIN |
5.3
|
$200
|
$38
|
9.4
|
$400
|
$37
|
14.4
|
$600
|
$42
|
16.9
|
$690
|
$41
|
20.7
|
$820
|
$40
|
| Source: Triennial Federal Reserve Payments Studies Figures may not add up because of rounding. |
|||||||||||||||
| Source: Triennial Federal Reserve Payments Studies |
|
Number (Bil)
|
% of Total
|
Value (Bil)
|
% of Total
|
|
|---|---|---|---|---|
| <$5 |
8.3
|
13.9%
|
$20
|
0.9%
|
| $5.00‒$14.99 |
18.7
|
31.4%
|
$170
|
7.4%
|
| $15‒$24.99 |
9.8
|
16.4%
|
$190
|
8.3%
|
| $25+ |
22.8
|
38.3%
|
$1,910
|
83.4%
|
| Source: 2015 Federal Reserve Payments Study | ||||
|
Type of Card
|
2012
|
2013
|
2014
|
2015
|
2016
|
|||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Cardholders
(Mil) |
Cards
(Mil) |
Cardholders
(Mil) |
Cards
(Mil) |
Cardholders
(Mil) |
Cards
(Mil) |
Cardholders
(Mil) |
Cards
(Mil) |
Cardholders
(Mil) |
Cards
(Mil) |
|
| Total |
191
|
612
|
194
|
645
|
197
|
697.2
|
200
|
719
|
202
|
768.3
|
| Visa |
160
|
417
|
162
|
431
|
167
|
466
|
168
|
468
|
179
|
511
|
| MasterCard |
129
|
143
|
133
|
158
|
145
|
170
|
149
|
185
|
142
|
189
|
| EFT |
189
|
291
|
191
|
296
|
195
|
302
|
197
|
307
|
200
|
312
|
| Other |
18
|
18
|
20
|
20
|
25
|
25
|
29
|
29
|
31
|
32
|
| Source: The Nilson Report, a twice-monthly newsletter based in Carpinteria, CA (used with permission) 1 Includes general purpose prepaid cards issued by Visa and MasterCard |
||||||||||
| Source: The Nilson Report, a twice-monthly newsletter based in Carpinteria, CA (used with permission) Includes general purpose prepaid cards issued by Visa and MasterCard. |
Prepaid Cards
The data used to describe prepaid cards come from the Triennial Federal Reserve Payments Studies.
Access at https://www.federalreserve.gov/paymentsystems/fr-payments-study.htm
|
2006
|
2009
|
2012
|
2015
|
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Number
(Bil) |
Value
($Bil) |
Avg.
Value ($) |
Number
(Bil) |
Value
($Bil) |
Avg.
Value ($) |
Number
(Bil) |
Value
($Bil) |
Avg.
Value ($) |
Number
(Bil) |
Value
($Bil) |
Avg.
Value ($) |
|
| Total |
3.3
|
$80
|
$23
|
5.9
|
$140
|
$24
|
9.2
|
$200
|
$22
|
9.9
|
$270
|
$27
|
| Private Label |
1.9
|
$30
|
$18
|
4.6
|
$100
|
$22
|
6.1
|
$120
|
$20
|
3.6
|
$70
|
$20
|
| General Purpose |
0.3
|
$10
|
$41
|
1.3
|
$40
|
$31
|
3.1
|
$100
|
$34
|
3.7
|
$120
|
$34
|
| EBT |
1.1
|
$30
|
$27
|
2.0
|
$50
|
$25
|
2.5
|
$75
|
$30
|
2.6
|
$80
|
$29
|
| Source: Triennial Federal Reserve Payment Studies | ||||||||||||
| Source: Triennial Federal Reserve Payment Studies |
ACH
The data used to describe automated clearinghouse (ACH) payments come from quarterly statistical reports published publicly by NACHA, the Electronic Payments Association, a not-for-profit organization that oversees the ACH network. NACHA’s quarterly reports publish the breakdown of ACH transactions from the previous quarter and track growth.
Access at www.nacha.org/c/ACHntwkstats.cfm
|
(Mil)
|
2007
|
2008
|
2009
|
2010
|
2011
|
2012
|
2013
|
2014
|
2015
|
2016
|
Q1:17
|
Q2:17
|
Q3:17
|
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CIE1 |
133
|
127
|
119
|
138
|
156
|
168
|
176
|
168
|
162
|
162
|
40
|
40
|
39
|
|
| PPD Debits2 |
2,611
|
2,741
|
2,770
|
2,833
|
2,933
|
3,080
|
3,232
|
3,418
|
3,564
|
3,724
|
959
|
970
|
962
|
|
| PPD Credits3 |
4,021
|
4,333
|
4,545
|
4,710
|
4,879
|
5,143
|
5,420
|
5,615
|
5,819
|
6,115
|
1,654
|
1,616
|
1,569
|
|
| TEL4 |
335
|
347
|
344
|
354
|
367
|
349
|
378
|
411
|
465
|
505
|
136
|
133
|
134
|
|
| WEB5 |
1,737
|
2,078
|
2,280
|
2,449
|
2,680
|
2,953
|
3,278
|
3,611
|
4,122
|
4,658
|
1,279
|
1,265
|
1,286
|
|
| Note: Figures for Q1, Q2, and Q3 2017 are not annualized. Source: NACHA, the Electronic Payments Association "On-us" are transactions in which the bank that issues your card is the same as the one that owns the ATM or POS terminal on which you made the transaction. 1 CIE = Customer Initiated Entry: A credit entry is initiated by an individual and is used to pay some sort of obligation. 2 PPD Debits = Prearranged Payments and Deposit Debit Application: This is a transfer of funds into a consumer account at the Receiving Depository Financial Institution. 3 PPD Credits = Prearranged Payments and Deposit Credit Application: Authority is granted by the consumer to companies with billing operations to initiate one-time or periodic charges to his or her account as bills become due. 4 TEL = Telephone Authorized Entry: Oral authorization is obtained solely via the telephone. 5 WEB = Internet Authorized Entry: Authorization is obtained solely via the Internet. |
||||||||||||||
| Source: NACHA, the Electronic Payments Association Note: All figures exclude “on-us” transactions "On-us" are transactions in which the bank that issues your card is the same as the one that owns the ATM or POS terminal on which you made the transaction. |
International Comparisons of Cards Issued
The comparative data showing the amount of payment cards issued in various countries comes from a report released by The Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI). The report, Statistics on Payment, Clearing and Settlement Systems in the CPMI Countries, is published annually.
Access at https://www.bis.org/cpmi/publ/d172.pdf
|
Cards With a Cash Function
(MIL) |
Cards With an E-money Function
(MIL) |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Country |
2012
|
2013
|
2014
|
2015
|
2016
|
2012
|
2013
|
2014
|
2015
|
2016
|
|
| Brazil |
335.56
|
348.19
|
350.25
|
349.99
|
344.84
|
2.65
|
3.32
|
2.67
|
2.44
|
1.92
|
|
| China |
3,534.00
|
4,214.00
|
4,936.00
|
5,442.00
|
6,125.00
|
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| France |
92.61
|
88.18
|
85.67
|
80.72
|
81.77
|
26.72
|
23.10
|
14.20
|
3.03
|
2.75
|
|
| Germany |
135.34
|
137.23
|
144.28
|
147.29
|
149.50
|
97.99
|
98.96
|
95.56
|
91.91
|
86.11
|
|
| India |
351.19
|
414.04
|
575.03
|
686.57
|
802.07
|
12.44
|
9.63
|
17.47
|
61.36
|
72.75
|
|
| Japan |
361.45
|
356.88
|
337.20
|
337.28
|
336.79
|
200.16
|
229.67
|
263.96
|
302.51
|
336.00
|
|
| Mexico |
139.49
|
152.78
|
163.20
|
171.35
|
168.35
|
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| Russia |
239.55
|
248.57
|
278.50
|
286.15
|
315.32
|
48.05
|
31.11
|
50.83
|
42.25
|
60.58
|
|
| Singapore |
10.59
|
10.91
|
10.74
|
10.28
|
10.61
|
19.82
|
23.09
|
29.38
|
34.71
|
39.82
|
|
| United Kingdom |
168.99
|
175.59
|
178.87
|
175.63
|
174.26
|
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| United States |
827.40
|
845.10
|
869.90
|
913.30
|
920.90
|
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Cards With a Payment Function
(MIL) |
of which: cards with a debit function
(MIL) |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Country |
2012
|
2013
|
2014
|
2015
|
2016
|
2012
|
2013
|
2014
|
2015
|
2016
|
| Brazil |
446.60
|
462.93
|
473.25
|
480.46
|
467.26
|
293.30
|
301.90
|
313.20
|
317.40
|
318.40
|
| China |
3,534.15
|
4,213.89
|
4,935.72
|
5,442.31
|
6124.64
|
3,203.05
|
3,823.10
|
4,480.62
|
5,010.11
|
5,659.60
|
| France |
82.31
|
82.22
|
81.04
|
77.69
|
78.87
|
80.11
|
80.08
|
55.27
|
50.24
|
50.34
|
| Germany |
133.19
|
133.85
|
134.61
|
139.25
|
142.29
|
105.59
|
105.17
|
103.35
|
106.10
|
108.62
|
| India |
351.19
|
414.04
|
575.03
|
686.57
|
802.07
|
331.20
|
394.42
|
553.45
|
661.54
|
771.65
|
| Japan |
676.79
|
685.22
|
677.90
|
687.00
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417.00
|
418.00
|
419.00
|
421.00
|
422.00
|
| Mexico |
139.49
|
152.78
|
163.19
|
171.35
|
168.35
|
114.12
|
126.90
|
134.64
|
141.71
|
137.13
|
| Russia |
191.50
|
217.46
|
227.67
|
243.91
|
254.74
|
169.01
|
188.27
|
195.90
|
214.44
|
224.59
|
| Singapore |
19.93
|
20.47
|
20.45
|
19.81
|
19.87
|
10.59
|
10.91
|
10.74
|
10.28
|
10.61
|
| United Kingdom |
147.32
|
153.31
|
154.74
|
157.78
|
158.19
|
88.55
|
95.69
|
95.66
|
98.80
|
99.63
|
| United States |
1196.40
|
1213.40
|
1246.70
|
1305.40
|
1334.10
|
290.80
|
296.00
|
301.60
|
307.30
|
311.50
|
|
Cards With a Credit Function
(MIL) |
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|---|---|---|---|---|---|
| Country |
2012
|
2013
|
2014
|
2015
|
2016
|
| Brazil |
153.25
|
161.00
|
160.03
|
163.10
|
148.87
|
| China |
331.10
|
390.79
|
455.10
|
432.21
|
465.03
|
| France |
26.84
|
19.61
|
24.92
|
19.90
|
19.69
|
| Germany |
3.68
|
3.90
|
4.39
|
4.90
|
5.68
|
| India |
19.55
|
19.18
|
21.11
|
24.51
|
29.84
|
| Japan |
259.79
|
267.22
|
258.90
|
266.00
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| Mexico |
25.37
|
25.89
|
28.55
|
29.64
|
31.23
|
| Russia |
22.48
|
29.19
|
31.76
|
29.46
|
30.14
|
| Singapore |
9.35
|
9.56
|
9.71
|
9.54
|
9.26
|
| United Kingdom |
56.44
|
55.36
|
56.93
|
58.97
|
58.56
|
| United States |
905.60
|
917.40
|
945.10
|
998.10
|
1,022.60
|
| Source: Bank of International Settlements Committee on Payments and Market Infrastructures (CPMI) Notes: E-money is described by the CPMI as stored value or prepaid products in which a record of the funds or value available to the consumer is stored on a device in the consumer's possession. Converted at yearly average exchange rates. Sum or average excluding those countries for which data are not available. For credit transfers, data for France (prior to 2005) and the United Kingdom include interbank transactions. Since the value of these transactions is relatively large, cross-country comparison should be treated with caution. nav = not available. |
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Adoption of Payments by Households
The data used to describe the adoption of payments by households come from tables in an article by Loretta Mester published in the Federal Reserve Bank of Philadelphia’s Business Review and updated by the Federal Reserve Bank of Cleveland for 2013. These tables are based on the Survey of Consumer Finances (SCF) as well as the author's calculations. The SCF is a triennial survey of the balance sheet, pension, income, and other demographic characteristics of U.S. families. The survey also gathers information on the use of financial institutions.
Access at
- Changes in the Use of Electronic Means of Payment: 1995-2013
(exhibit 1, parts 1 and 2) - www.federalreserve.gov/pubs/oss/oss2/scfindex.html
|
1995
|
1998
|
2001
|
2004
|
2007
|
2010
|
2013
|
|
|---|---|---|---|---|---|---|---|
| ATM |
62.5
|
67.4
|
69.8
|
74.4
|
79.7
|
83.4
|
87.0
|
| Debit Card |
17.6
|
33.8
|
47.0
|
59.3
|
67.0
|
78.4
|
80.3
|
| Direct Deposit |
46.7
|
60.5
|
67.3
|
71.2
|
74.9
|
75.9
|
82.6
|
| Automatic Bill Paying |
21.8
|
36.0
|
40.3
|
47.4
|
45.5
|
48.3
|
53.4
|
Note: The percentages reported are based on the population-weighted figures using the revised Kennickell-Woodburn consistent weights for each year. (For further discussion, see the Survey of Consumer Finances codebooks at http://www.federalreserve.gov/econresdata/scf/scfindex.htm.)  This exhibit reports percentages for all households.1 The questions on ATMs and smart cards asked whether any member of the household had an ATM card or a smart card, not whether the member used it. The other questions asked about usage. The question on smart cards was dropped after the 2001 survey. |
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Survey of Consumer Payment and Choice
As described on its website, the Federal Reserve Bank of Boston publishes the Survey of Consumer Payment Choice (SCPC), which develops comprehensive, publicly available data on consumer payment behavior. The SCPC is a nationally representative survey of consumer payment behavior developed by the Consumer Payments Research Center of the Boston Fed and implemented by the RAND Corporation with its American Life Panel. The primary purpose of the SCPC is to publish and document the aggregate statistics obtained from the data to help researchers learn how consumers choose among payment instruments, including cash. The report contains detailed tables providing a view of consumers' behavior regarding paper instruments and payment cards as well as electronic instruments. The data are based on a half-hour, Internet-based survey administered by the RAND Corporation to a sample of U.S. consumers drawn from its American Life Panel.
