Archive for the ‘Trillion’ tag
Consumer Credit Rises Above Forecast in June
Consumer debt increased by $14.3 billion in June,
according to data released Thursday from the U.S. Federal Reserve, which
also showed that total consumer credit had risen to $2.586 trillion from
the prior month’s $2.572 trillion.
Paulson Encourages Covered Bond Market to Increase Mortgage Financing
Treasury Secretary Henry Paulson said Monday that
covered bonds are an answer to financial market’s request for clarity. He
said covered bonds, a $3 trillion market used widely in Europe for
mortgage funding, can develop without legislation in the U.S., and four
of the largest U.S. banks are already prepared to set up the market.
“I believe covered bonds have the potential to increase
mortgage financing, improve underwriting standards, and
strengthen U.S. financial institutions by providing a new funding source
that will diversify their overall portfolio,” Paulson said.
Consumer Credit Rises Well Above Forecasts in February
Surprising to the upside, seasonally adjusted consumer
debt rose $15.3 billion in March, according to data released
Wednesday from the U.S. Federal Reserve, which also showed that total
consumer credit rose to 2.558 trillion.