Fed: Personal credit limits top $100 billion

AAP General News (Australia)
08-11-2000
Fed: Personal credit limits top $100 billion

CANBERRA, Aug 11 AAP - Credit limits available through credit cards, overdrafts and
other forms of readily available funds topped $100 billion for the first time in June.

The Australian Bureau of Statistics (ABS) said credit limits for so-called revolving
credit facilities climbed from $99.6 billion to $101.5 billion in June.

This is up $21.5 billion or 27 per cent since June last year.

Of the $101.5 billion available, Australians had borrowed $46 billion in June, up $2.5
billion for the month and $12 billion for the year.

Australians borrowed $321 million to finance new car purchases in June - up $24 million
on June last year - and $523 million for used cars - up $52 million for the year.

Seasonally adjusted, total personal borrowings were up 0.1 per cent for the month of
June to $4.71 billion, a rise of 18 per cent on June 1999.

However, home lending for the month was down 14.4 per cent to $5.171 billion, a 12.4
per cent drop on June last year.

AAP ss/mfh/cjh

KEYWORD: LENDING

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