Bankstats article
By Bilqees Adewusi
Introduction
The Bank of England publishes monthly statistical data on lending to individuals in Bankstats, including breakdowns by the type of lender and product. The measure of consumer credit to individuals in the monthly release comprises credit card lending and other loans and advances.
From the August 2012 release, monthly lending time series in Bankstats have excluded loans made through Government student finance schemes (“student loans”), in order to make the underlying trends of other components of consumer credit clearer. Series including student loans continue to be updated annually to reflect latest data from the Student Loans Company (SLC).
Student loans update
Data on student loans are provided and published annually by the SLC on a financial year basis. Following the publication of the figures for financial year 2015-16 by the SLC3 in June 2016, the Bank’s lending to individuals series (including student loans) have been updated to March 2016.
Student loans increased by £12.6bn in the twelve months to March 2016 and, at £86.2bn, represented 32% of total consumer credit, which was £269.6bn (Chart A). Net flows of consumer credit excluding student loans were £16.4bn over the same period.
Monthly flows of total consumer credit (including student loans) averaged £2.4bn per month over the twelve months to March 2016. Flows of consumer credit (excluding student loans) were £1.4bn per month on average during the same period.
Chart B displays the contributions to the annual growth rate for total consumer credit excluding student loans.
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