Statistics

We compile an array of statistics of interest to researchers, the news media, and others and publish them in our Consumer Credit Snapshot and Consumer Payments Snapshot.

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/

Consumer Credit (G.19)
(EOP, SA, $Bil)	2007	2008	2009	2010	2011	2012	2013	2014	Q1:15	Q2:15
Total Outstanding	$2,615.1	$2,650.0	$2,552.3	$2,646.9	$2,755.4	$2,922.9	$3,098.8	$3,317.2	$3,363.4	$3,434.3
Revolving	$1,002.0	$1,004.4	$916.4	$839.5	$841.2	$845.9	$858.2	$890.0	$890.8	$910.3
Nonrevolving	$1,613.1	$1,645.7	$1,635.9	$1,807.4	$1,914.2	$2,077.0	$2,240.6	$2,427.2	$2,472.6	$2,524.0
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

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."

Consumer Debt Composition and Growth
	2007	2008	2009	2010	2011	2012	2013	2014	Q1:15	Q2:15
Debt Outstanding (SA, $Bil)
Credit Market	$14,156.6	$14,015.0	$13,762.5	$13,508.6	$13,296.6	$13,355.4	$13,507.6	$13,876.1	$13,919.3	$14,045.7
Home Mortgages	$10,613.0	$10,580.1	$10,419.3	$9,915.4	$9,695.8	$9,486.7	$9,403.7	$9,403.2	$9,386.2	$9,427.2
Consumer Credit	$2,615.1	$2,650.0	$2,552.3	$2,646.9	$2,755.4	$2,922.9	$3,098.8	$3,311.9	$3,355.5	$3,423.2
Growth Rate (SAAR, %)
Credit Market	6.97	-0.09	0.29	-0.58	-0.53	1.96	1.79	3.03	1.73	3.94
Home Mortgages	7.21	0.88	0.63	-1.77	-1.77	-0.72	0.05	0.48	0.00	2.20
Consumer Credit	6.01	1.34	-3.69	-0.99	-0.99	6.02	5.89	6.71	5.27	8.07
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.

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."

Holders of Consumer Debt
(NSA, $Bil)	2007	2008	2009	2010	2011	2012	2013	2014	Q1:15	Q2:15
Federal Government¹
Consumer Credit	$115.66	$135.13	$223.06	$356.21	$484.67	$616.76	$729.83	$835.56	$873.88	$884.82
Home Mortgage²	$13.67	$16.40	$22.06	$23.88	$24.04	$25.16	$25.61	$26.79	$27.67	$28.13
U.S.-Chartered Depository Institutions
Consumer Credit	$894.88	$964.97	$906.27	$1,185.51	$1,192.57	$1,218.63	$1,271.57	$1,343.11	$1,312.15	$1,349.62
Home Mortgage²	$3,068.86	$2,884.50	$2,693.38	$2,615.61	$2,538.02	$2,503.57	$2,386.06	$2,401.79	$2,407.84	$2,432.78
Credit Unions
Consumer Credit	$236.57	$236.20	$237.13	$226.47	$223.03	$243.64	$265.56	$302.78	$307.74	$323.19
Home Mortgage²	$280.21	$312.19	$316.94	$316.96	$320.50	$327.85	$345.89	$372.47	$377.09	$384.59
Government-Sponsored Enterprises³
Home Mortgage²	$447.86	$456.65	$433.45	$4,690.72	$4,587.73	$4,475.68	$4,546.89	$4,537.87	$4,528.29	$4,540.20
Issuers of Asset-Backed Securities⁴
Consumer Credit	$652.51	$610.23	$572.47	$50.34	$46.21	$49.99	$49.15	$49.79	$48.18	$50.47
Home Mortgage²	$2,214.34	$1,902.58	$1,578.70	$1,303.04	$1,109.47	$928.28	$793.52	$703.88	$684.85	$658.20
Finance Companies
Consumer Credit	$577.89	$561.38	$480.76	$704.99	$687.57	$679.79	$679.14	$684.10	$677.47	$681.80
Home Mortgage²	$493.66	$416.07	$366.00	$169.53	$149.73	$132.55	$114.73	$104.62	$101.14	96.58
Notes: NSA = not seasonally adjusted ¹ “Federal Government” includes loans originated by the 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 FHLB, Fannie Mae, Freddie Mac, Sallie Mae, Farm Credit System, the Financing Corporation, and 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.

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/

Loan Charge-Offs
	2007	2008	2009	2010	2011	2012	2013	2014	Q1:15	Q2:15
Charge-Off Rate¹ (SAAR, %)
Consumer Loans	2.48	3.54	5.49	5.90	3.62	2.54	2.17	1.92	1.78	1.74
Credit Cards	3.98	5.57	9.42	9.43	5.68	3.99	3.48	3.16	2.98	2.89
Residential Real Estate Loans²	0.26	1.35	2.33	2.12	1.57	1.36	0.65	0.29	0.26	0.22
Net Charge-Offs³ (NSA, $Mil)
Consumer Loans	$21,820	$34,347	$52,968	$74,350	$43,013	$30,124	$26,267	$24,058	$5,728	$5,555
Credit Cards	$13,254	$20,096	$34,883	$61,886	$35,017	$24,143	$21,039	$19,135	$4,622	$4,586
Residential Real Estate Loans²	$5,036	$27,111	$49,032	$44,281	$32,163	$28,357	$13,386	$5,846	$1,409	$995
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.

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/

Loan Delinquencies
	2007	2008	2009	2010	2011	2012	2013	2014	Q1:15	Q2:15
Delinquency Rate¹ (SAAR, %)
Consumer Loans	3.40	4.26	4.56	3.61	3.06	2.63	2.38	2.10	2.01	1.96
Credit Cards	4.57	5.59	6.28	4.12	3.24	2.71	2.38	2.16	2.11	2.10
Residential Real Estate Loans²	3.08	6.66	10.51	10.19	10.29	10.00	8.23	6.60	6.16	5.77
Delinquencies³ (NSA, EOP, $ Mil)
Consumer Loans	$33,766	$44,038	$46,158	$46,075	$38,731	$33,813	$31,084	$28,608	$24,576	$24,383
Credit Cards	$17,376	$22,935	$24,368	$27,489	$20,950	$17,564	$15,162	$14,098	$12,787	$12,434
Residential Real Estate Loans²	$65,956	$145,047	$232,757	$220,410	$217,748	$214,989	$169,269	$135,909	$125,279	$117,377
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 Annual data are aggregated by averaging quarterly 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.

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. It is also important to note the surge of bankruptcies in 2005 is due to the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), which took effect on October 17, 2005.

Access at http://www.uscourts.gov/report-name/bankruptcy-filings

Bankruptcy Filings
	2007	2008	2009	2010	2011	2012	2013	2014	Q1:15	Q2:15
Total	849,412	1,115,813	1,472,238	1,592,669	1,410,918	1,221,091	1,071,589	935,898	213,081	223,377
Nonbusiness	821,275	1,072,952	1,411,708	1,536,623	1,363,015	1,181,016	1,038,528	909,049	206,922	217,211
Source: Administrative Office of the United States Courts Note: Annual data aggregated from the monthly and quarterly series do not match the annual series because the annual series includes revisions, while the monthly and quarterly series do not.

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 and 24 U.S. branches and agencies of foreign 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. 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.

Access at www.federalreserve.gov/boarddocs/snloansurvey/

Note: The height of the line in the above graph is the net percentage of banks tightening credit standards for new credit card applicants.

Note: The height of the line in the above graph is the net percentage of banks with strengthening demand for consumer loans.

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

Percentage of Families with a Transaction Account (%)
	1995	1998	2001	2004	2007	2010	2013
All Families	87.4	90.6	91.4	91.3	92.1	92.5	93.2
Income Percentile
Less than 20%	63.2	68.8	71.6	75.5	74.9	76.2	79.1
20–39.9%	85.2	90.3	90.3	87.3	90.1	91.1	90.7
40–59.9%	92.0	95.4	96.6	95.9	96.3	96.4	97.2
60–79.9%	97.3	98.9	99.1	98.4	99.3	98.9	99.1
80–89.9%	98.7	99.6	99.7	99.1	100.0	99.8	99.8
90–100%	99.8	100.0	99.2	100.0	100.0	99.9	100.0
Age of Family Head
35 or younger	80.9	84.7	87.1	86.4	87.3	89.0	90.2
35–44	87.6	90.5	91.1	90.8	91.2	90.6	91.8
45–54	89.2	94.1	92.7	91.8	91.7	92.5	91.8
55–64	88.8	93.9	93.8	93.2	96.4	94.2	94.6
65–74	91.7	94.1	93.8	93.9	94.6	95.8	97.1
75 or older	93.2	90.0	93.7	96.4	95.3	96.4	96.7
Housing Status
Homeowner	95.3	96.4	96.7	96.0	97.3	97.4	97.5
Renter or not homeowner	72.9	79.4	80.3	80.9	80.8	82.4	85.2

Median Balance of Transaction Accounts for Families with Holdings (2013 $)
	1995	1998	2001	2004	2007	2010	2013
All Families	3,200	4,300	5,200	4,700	4,500	3,800	4,100
Income Percentile
Less than 20%	1,100	1,000	1,100	700	900	700	600
20–39.9%	2,000	2,100	2,300	1,800	1,800	1,600	1,400
40–59.9%	2,400	3,200	3,700	3,700	3,100	3,000	3,000
60–79.9%	3,800	6,100	6,800	8,000	6,700	5,700	6,800
80–89.9%	6,500	10,700	12,400	13,600	14,500	11,900	13,500
90–100%	20,200	25,700	34,100	34,500	41,200	37,500	51,000
Age of Family Head
35 or younger	1,800	2,100	2,300	2,200	2,700	2,200	2,200
35–44	3,000	4,100	4,500	3,700	3,900	2,700	3,800
45–54	4,600	6,300	6,000	5,900	5,600	3,800	4,000
55–64	4,700	5,800	7,200	8,300	5,800	5,400	5,000
65–74	4,900	8,000	10,500	6,800	8,600	6,100	7,000
75 or older	7,600	8,600	9,600	8,000	6,800	7,700	7,000
Housing Status
Homeowner	4,600	7,000	7,600	7,400	7,000	6,200	7,100
Renter or not homeowner	1,800	1,600	1,600	1,400	1,300	1,100	1,100

Percentage of Families with a Credit Card Balance (%)
	1995	1998	2001	2004	2007	2010	2013
All Families	47.3	44.1	44.4	46.2	46.1	39.4	38.1
Income Percentile
Less than 20%	26.0	24.5	30.3	28.8	25.7	23.2	19.6
20–39.9%	43.2	40.9	44.5	42.9	39.5	33.4	34.2
40–59.9%	52.9	50.1	52.8	55.1	54.8	45.0	46.9
60–79.9%	60.0	57.4	52.6	56.1	62.1	53.1	49.8
80–89.9%	61.0	53.1	50.3	57.6	55.8	51.0	48.2
90–100%	47.3	42.1	33.1	38.5	40.6	33.6	32.2
Age of Family Head
35 or younger	54.7	50.7	49.6	47.5	48.5	38.7	36.8
35–44	55.9	51.3	54.1	58.8	51.7	45.6	41.7
45–54	56.4	52.5	50.4	54.0	53.6	46.2	44.3
55–64	43.2	45.7	41.6	42.1	49.9	41.3	43.4
65–74	30.5	29.2	30.0	31.9	37.0	31.9	32.8
75 or older	17.5	11.2	18.4	23.5	18.8	21.7	21.1
Housing Status
Homeowner	51.1	46.2	44.4	48.8	50.1	43.1	42.0
Renter or not homeowner	40.3	40.0	44.3	40.4	37.3	31.8	30.9

Median Value of Credit Card Balances for Families with Holdings (2013 $)
	1995	1998	2001	2004	2007	2010	2013
All Families	2,300	2,400	2,500	2,700	3,400	2,800	2,300
Income Percentile
Less than 20%	1,000	1,400	1,300	1,200	1,100	1,100	1,000
20–39.9%	1,800	1,700	1,600	2,300	2,000	1,600	1,400
40–59.9%	2,300	2,700	2,600	2,700	2,700	2,300	2,200
60–79.9%	2,400	3,100	3,000	3,700	4,500	3,300	3,000
80–89.9%	3,000	2,900	4,900	3,300	6,200	6,300	4,500
90–100%	4,300	4,300	3,700	4,900	8,400	8,600	4,000
Age of Family Head
35 or younger	2,000	2,100	2,600	1,800	2,000	1,700	1,500
35–44	2,900	2,900	2,600	3,100	3,900	3,800	2,500
45–54	3,000	2,600	3,000	3,600	4,000	3,800	2,600
55–64	2,000	2,900	2,500	2,700	4,000	3,000	3,000
65–74	1,200	1,600	1,300	2,700	3,400	2,300	2,300
75 or older	500	1,000	900	1,200	900	1,900	1,900
Housing Status
Homeowner	2,300	2,900	2,800	3,100	4,000	3,600	2,800
Renter or not homeowner	1,800	1,800	1,600	1,800	1,500	1,400	1,400

Debtors with Payment-to-Income Ratio Greater Than 40 Percent (%)
	1995	1998	2001	2004	2007	2010	2013
All Families	11.7	13.6	11.8	12.3	14.8	13.8	11.0
Income Percentile
Less than 20%	27.4	29.8	29.3	26.8	26.9	26.1	23.2
20–39.9%	18.0	18.3	16.6	18.6	19.5	18.7	18.4
40–59.9%	9.9	15.9	12.3	13.8	14.5	15.3	11.1
60–79.9%	7.7	9.8	6.5	7.3	12.9	11.0	6.1
80–89.9%	4.7	3.5	3.5	2.6	8.2	5.3	3.9
90–100%	2.3	2.8	2.0	1.5	3.8	2.9	1.8
Age of Family Head
35 or younger	12.1	12.9	12.0	12.8	15.1	11.6	8.1
35–44	9.9	12.5	10.1	12.4	12.8	16.4	9.8
45–54	12.3	12.8	11.6	13.3	16.3	15.5	12.0
55–64	15.1	14.0	12.3	10.3	14.5	13.0	14.0
65–74	11.3	18.1	14.7	11.6	15.6	12.1	12.2
75 or older	7.4	21.4	14.6	10.7	13.9	11.9	10.0
Housing Status
Owner	14.3	16.5	14.7	15.0	18.1	17.1	14.0
Renter or not homeowner	5.8	6.5	4.2	4.3	5.4	5.0	4.2
Note: The payment-to-income ratio reflects the sum of household debt payments divided by the household income.

Debtors with Any Payment Past Due 60 Days or More (%)
	1995	1998	2001	2004	2007	2010	2013
All Households	7.1	8.1	7.0	8.9	7.1	10.8	9.3
Percentile of Income
Less than 20%	10.4	13.0	13.4	15.9	15.1	21.2	16.1
20–39.9%	10.2	12.4	11.7	13.8	11.5	15.2	14.3
40–59.9%	8.8	10.0	7.9	10.4	8.3	10.2	10.0
60–79.9%	6.6	5.9	4.0	7.1	4.1	8.8	7.3
80–89.9%	2.8	3.9	2.6	2.3	2.1	5.4	4.1
90–100%	1.0	1.6	1.3	0.3	0.2	2.1	1.0
Age of Family Head
35 or younger	8.8	11.1	11.9	13.7	9.4	10.4	11.6
35–44	7.7	8.4	5.9	11.7	8.6	15.7	11.4
45–54	7.4	7.4	6.2	7.6	7.3	12.6	12.0
55–64	3.2	7.5	7.1	4.2	4.9	8.4	6.4
65–74	5.3	3.1	1.5	3.4	4.4	6.1	4.7
75 or older	5.4	1.1	0.8	3.9	1.0	3.2	2.7
Housing Status
Owner	5.1	6.1	4.3	5.6	4.8	8.7	6.5
Renter or not homeowner	11.6	12.9	14.0	18.6	13.5	16.6	15.9

Maps of Local Credit Quality

The Federal Reserve Bank of New York publishes regional information on consumer credit conditions.

https://www.newyorkfed.org/data-and-statistics/data-visualization/community-credit-profiles/index.html

Consumer Payments Snapshot

This snapshot includes statistics on credit and debit cards and other noncash payments as well as households’ revolving credit.

Noncash Payments

The data used to describe noncash payments come from the 2007, 2010, and 2013 editions of the Federal Reserve Payments Study, which is 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 www.frbservices.org/communications/payment_system_research.html

Noncash Payments
	2003³		2006		2009³		2012⁴
	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
Checks (Paid)¹	37.30	$41.15	30.50	$41.60	24.50	$31.60	18.30	$25.85
Debit Card	15.60	$0.63	25.00	$1.00	37.50	$1.40	47.00	$1.82
Signature	10.30	$0.40	15.70	$0.60	23.10	$0.80	22.20	$0.65
PIN	5.30	$0.20	9.40	$0.40	14.40	$0.60	16.90	$0.69
Prepaid Card²	0.80	$0.02	3.30	$0.08	5.90	$0.14	9.20	$0.22
EBT	0.80	$0.02	1.10	$0.03	2.00	$0.05	2.50	$0.07
Credit Card	19.00	$1.68	21.70	$2.10	21.00	$1.87	26.20	$2.48
ACH	8.80	$24.11	14.60	$31.0	19.10	$37.16	21.70	$144.08
Sources: 2013, 2010, and 2007 Federal Reserve Payments Study ^1The 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. ^3The 2003 and 2009 values are updated to include new information from the 2013 study. ^4The 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.

* 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.

* 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.

Unauthorized Transactions

The 2012 data used to describe unauthorized transactions come from the 2013 Federal Reserve Payments Study, a triennial survey of the payments industry first conducted in 2001. 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 www.frbservices.org/communications/payment_system_research.html

Unauthorized Transactions in 2012
Instrument/Method	Number			Value
Instrument/Method	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.

Source: 2013 Federal Reserve Payments Study GP denotes general purpose.

Source: 2013 Federal Reserve Payments Study
GP denotes general purpose.

Average Values of Unauthorized Transactions in 2012 ($)
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
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.

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.

Checks

The data used to describe checks come from the 2007, 2010, and 2013 Federal Reserve Payments Study, a triennial survey of the payments industry first conducted in 2001. Also used to describe checks are data from the 2010 Federal Reserve Check Sample Study. 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 2013 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 2013 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.

Access at www.frbservices.org/communications/payment_system_research.html

Checks Paid by Type of Depository Institution
	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.

Distribution of Checks by Dollar Amount in 2012
Dollar Amount Range	Distribution
$0.01–$50	29%
$50.01–$100	15%
$100.01–$500	32%
$500.01–$1,000	11%
$1,000.01–$2,500	7%
$2,500.01–$5,000	3%
$5,000.01 +	3%
Source: 2013 Federal Reserve Check Sample Study Notes: The distributions have up to a 0.5 percent margin of error and may not add to 100 percent.

2013 Federal Reserve Payments Study

2013 Federal Reserve Payments Study

Distribution of the Number of Checks by Counterparty
Counterparty	2006	2009	2012
C2B	51%	44%	43%
C2C	7%	10%	10%
B2B	25%	27%	32%
B2C	17%	19%	15%
Source: 2013 Federal Reserve Payments Study Definitions: C2B: Consumer-to-Business C2C: Consumer-to-Consumer B2B: Business-to-Business B2C: Business-to-Consumer

Distribution of the Value of Checks by Counterparty in 2012
Counterparty	Distribution
C2B	16.5%
C2C	5.0%
B2B	66.2%
B2C	12.3%
Unknown*	0.0%
Source: 2013 Federal Reserve Payments Study *Unknown includes all counterparty combinations where either the payer, payee, or both are an unknown/indeterminate classification. 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, and 2013 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 www.frbservices.org/communications/payment_system_research.html

Credit Card Volume, Value, and Average Value
	2003¹			2006			2009¹			2012
	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
General Purpose	15.2	$1.4	$93	19.0	$1.9	$99	19.5	$1.7	$87	23.8	$2.2	$93
Private Label	3.8	$0.3	$72	2.8	$0.3	$92	1.5	$0.2	$119	2.4	$0.3	$111
Source: 2007, 2010, and 2013 Federal Reserve Payments Study 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.

Distribution of General-Purpose Credit Card Payments in 2012
	Number (Bil)	% of Total	Value (Bil)	% of Total
<$5	2.1	8.7%	$10.0	0.3%
$5.00‒$14.99	4.9	20.3%	$50.0	2.1%
$15‒$24.99	3.3	13.9%	$70.0	3.0%
$25+	13.6	57.1%	$2,080.0	94.6%
Source: 2013 Federal Reserve Payments Study

Credit Card Holders and Number of Cards
Type of Card	2002		2012		2013		2018 Proj.
Type of Card	Cardholders¹ (Mil)	Card (Mil)	Cardholders¹ (Mil)	Cards (Mil)	Cardholders¹ (Mil)	Cards (Mil)	Cardholders¹ (Mil)	Cards (Mil)
Total	163	1,446	160	1,012	166	1,024	180	1,185
Visa	95	258	124	245	104	254	131	327
MasterCard	96	267	78	178	79	178	96	204
Discover/Amex	64	90	81	114	84	117	87	127
Store	116	547	98	335	100	335	130	411
Oil Company	75	93	29	34	29	33	27	33
Other²	128	191	84	107	87	107	65	83
Source: The Nilson Report, a twice-monthly newsletter based in Carpinteria, CA (used with permission) ¹ Cardholders may hold more than one type of card. ² Includes 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)

Source: The Nilson Report, a twice-monthly newsletter based in Carpinteria, CA (used with permission)

Credit Card 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. The Board released the data in this report in June 2014.

Access at www.federalreserve.gov/pubs/reports_other.htm (see "Profitability of Credit Card Operations of Depository Institutions")

Interest Rates on Revolving Credit Cards
	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%
Source: Board of Governors of the Federal Reserve System, Quarterly Report of Credit Card Interest Rates

Return on Assets at Large U.S. Credit Card Banks (%)
	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012
Return	3.28	3.66	3.55	2.85	3.34	2.75	1.43	-3.01	2.36	5.25	4.66
Note: Credit card banks are commercial banks with average managed assets (loans to individuals, including securitizations) greater than or equal to $200 million with a minimum of 50 percent of assets in consumer lending and 90 percent of consumer lending in the form of revolving credit. Profitability of credit card banks is measured as net pretax income as a percentage of average quarterly outstanding balances. Source: Report of Condition and Income (Call Report)

Debit Cards

The data used to describe debit cards come from the 2007, 2010, and 2013 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. The Federal Reserve Payments Study is 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. 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

Debit Card Volume, Value, and Average Value
	2003¹			2006			2009¹			2012
	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
Signature	10.3	$400	$39	15.7	$600	$40	23.1	$800	$35	22.2	$650	$29
PIN	5.3	$200	$38	9.4	$400	$37	14.4	$600	$42	16.9	$690	$41
Source: 2007, 2010, and 2013 Federal Reserve Payments Study ¹ 2003 and 2009 values are updated to include new information from the 2013 study. Figures may not add up because of rounding.

Distribution of General-Purpose Debit Card Payments in 2012
	Number (Bil)	% of Total	Value (Bil)	% of Total
<$5	6.0	12.8%	$20	1.0%
$5.00‒$14.99	14.1	30.0%	$130	7.0%
$15‒$24.99	7.6	16.2%	$150	8.1%
$25+	19.2	40.9%	$1,520	83.8%
Source: 2013 Federal Reserve Payments Study

Debit Card Holders and Number of Cards
Type of Card	2002		2012		2013		2018 Proj.
Type of Card	Cardholders¹ (Mil)	Cards (Mil)	Cardholders¹ (Mil)	Cards (Mil)	Cardholders¹ (Mil)	Cards (Mil)	Cardholders¹ (Mil)	Cards (Mil)
Total²	168	260	191	612	194	645	211	887
Signature³	158	175	189	560	295	590	329	802
PIN⁴	167	249	189	291	192	296	206	329
Other⁵	11	11	18	18	20	20	47	47
Source: The Nilson Report, a twice-monthly newsletter based in Carpinteria, CA (used with permission) ¹ Cardholders may hold more than one type of card. Bank cards and EFT cards are the same pieces of plastic that carry multiple brands. The total card figure shown does not include any duplication. ² The total number of cards outstanding excludes the number of prepaid cards listed in The Nilson Report. ³ “Signature Debit” is defined by Nilson as bank cards or Visa and MasterCard debit cards. For 2006 and later, this includes Interlink and Master Card PIN debit. ⁴ “PIN debit” is defined by Nilson as EFT cards issued by financial institution members of regional and national switches such as Star, Interlink, Pulse, NYCE, etc. ⁵ Retail cards are included, such as those issued by supermarkets.

Source: The Nilson Report, a twice-monthly newsletter based in Carpinteria, CA (used with permission)

Source: The Nilson Report, a twice-monthly newsletter based in Carpinteria, CA (used with permission)

Prepaid Cards

The data used to describe prepaid cards come from the 2007, 2010, and 2013 Federal Reserve Payments Study. The Federal Reserve Payments Study is 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 www.frbservices.org/communications/payment_system_research.html

Prepaid Card Volume, Value, and Average Value
	2006			2009			2012
	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
Private Label¹	1.9	$30	$18	4.6	$100	$22	6.1	$120	$20
General Purpose	0.3	$10	$41	1.3	$40	$31	3.1	$100	$34
EBT	1.1	$30	$27	2.0	$50	$25	2.5	$75	$30
Source: 2010 and 2013 Federal Reserve Payments Study ¹ The private label category includes EBT cards. Figures may not add up due to rounding.

Source: 2013 Federal Reserve Payments Study

Source: 2013 Federal Reserve Payments Study

Distribution of General-Purpose Prepaid Card Payments in 2012
	Number (Bil)	% of Total	Value (Bil)	% of Total
<$5	0.6	19.9%	$0	1.6%
$5.00‒$14.99	1.0	32.8%	$0	8.8%
$15‒$24.99	0.5	15.0%	$10	8.6%
$25+	1.0	32.4%	$90	81.0%
Source: 2013 Federal Reserve Payments Study

Distribution of Private-Label¹ Prepaid Card Payments in 2012
	Number (Bil)	% of Total	Value (Bil)	% of Total
<$5	2.1	59.3%	$10	23.1%
$5.00‒$14.99	1.1	30.7%	$10	31.3%
$15‒$24.99	0.2	4.6%	$10	11.4%
$25+	0.2	5.5%	$20	34.2%
Source: 2013 Federal Reserve Payments Study ¹ The table includes private-label prepaid card payments excluding EBT and transit payments.

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 tracks growth.

Access at www.nacha.org/c/ACHntwkstats.cfm

ACH Transactions and Dollar Value (not including “on-us” transactions)
(Mil)	2007	2008	2009	2010	2011	2012	2013	2014	Q1:15	Q2:15
CIE¹	133	127	119	138	156	168	176	168	40	39
PPD Debits²	2,611	2,741	2,770	2,833	2,933	3,080	3,232	3,418	871	887
PPD Credits³	4,021	4,333	4,545	4,710	4,879	5,143	5,420	5,615	1,455	1,449
RCK⁴	20	16	12	8	7	6	5	4	1	1
TEL⁵	335	347	344	354	367	349	378	411	114	114
WEB⁶	1,737	2,078	2,280	2,449	2,680	2,953	3,278	3,611	987	1,001
Total ACH Transactions (Mil)⁷	13,972	14,961	15,257	15,617	16,079	16,750	17,552	18,298	4,718	4,780
Total ACH Value ($Tril)	$28.54	$26.90	$29.59	$31.70	$33.90	$36.90	$38.70	$40.10	$10.20	$10.5
Source: NACHA, the Electronic Payments Association 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 RCK = Re-presented Check: An ACH debit application is used by originators to re-present a check that has been processed through the check collections system and returned because of insufficient or uncollected funds. ⁵ TEL = Telephone Authorized Entry: Oral authorization is obtained solely via the telephone. ⁶ WEB = Internet Authorized Entry: Authorization is obtained solely via the Internet. ⁷ The total ACH transactions and value include all commercial inter-bank and government transactions, but not “on-us” transactions, and are larger than the total of the entry types included.

According to the 2013 Federal Reserve Payments Study, the “on-us” ACH transactions decreased from 5.0 billion in 2009 to 4.4 billion in 2012. *Note: Bar height does not include all components of total ACH transactions.

*According to the 2013 Federal Reserve Payments Study, the “on-us” ACH transactions decreased from 5.0 billion in 2009 to 4.4 billion in 2012.
**Note: Bar height does not include all components of total ACH transactions.

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

Adoption of Payments by Households (%)
	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.

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 2012 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 2012 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 2012 SCPC 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.

Access at http://www.bostonfed.org/economic/cprc/scpc/