February 17, 2009

Revolving credit for the finance and insurance industry jumped to $2.21 billion from $1.7 billion in December, reversing the trend of the previous month, according to data released by the Australian Bureau of Statistics. Revolving credit dropped from $2.10 billion from October to November.

However, fixed loans for the finance and insurance industry continued to slide in the same month, dropping slightly from $2.43 billion to $2.38 billion.New and increased revolving credit commitments among bank lenders rose from $7.10 billion to $10 billion from November to December, while the non-banks' new and increased limit for revolving credit rose from $1.02 billion to $2.91 billion.