Estimating Retail Credit in the U.S.

Abstract

In this note, we estimate the size of an understudied segment of the consumer credit market—retail credit. Retail credit consists of the amounts owed to retail stores by their customers for purchases made on credit extended in partnership with a financial institution. Although retail credit is included in the consumer credit totals in Federal Reserve Statistical Release G.19, "Consumer Credit," a principal economic indicator providing the official estimate for consumer credit holdings in the U.S., it is not separately categorized on the release.