Bank of England (BoE) Consumer Credit excl. Student Loans m/m

Bank of England Consumer Credit m/m reflects a change in the amount of all unpaid sterling credit issued to UK resident individuals by UK banks in the given month compared to the previous month.

Education loans issued to students are excluded from the indicator calculation. Also the indicator does not include unincorporated businesses and non-profit institutions serving households. The value only reflects loans of households for current spendings on goods and services.

The detailed report version includes separate information on the following loan types: credit card lending and "other" loans (such as overdrafts and bank loans in cash).

Sterling loans to individuals are provided by three main types of organizations:

• UK-resident banks. They provide monthly credit reports directly to the Bank of England.
• Building societies are specialized banks, which provide targeted housing loans. Data from building societies are also collected on a permanent basis and provided in special forms.
• Other specialist lenders. This includes non-bank, non-building society UK credit grantors, specialist mortgage lenders, retailers, government, corporations, insurance companies and pension funds. Data from them are collected by the Office for National Statistics.

Consumer Credit is a leading indicator of consumer activity and retail sales. The indicator growth allows the forecast of an increase in consumer activity and can affect the British pound quotes positively.