Full text of G.19 Consumer Credit : December 7, 1979

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RESERVE statistical release
f^TBE^V- •
FOR IMMEDIATE RELEASE
DECEMBER 7 , 1979

G.19 (421J

CONSUMER INSTALLMENT CREDIT - OCTOBER 1979
GROWTH IN CONSUMER INSTALLMENT CREDIT OUTSTANDING SLOWED IN OCTOBER
FOLLOWING AN UPSURGE IN SEPTEMBER. OUTSTANDING INSTALLMENT DEBT EXPANDED BY
$2.19 BILLION IN OCTOBER. AFTER SEASONAL ADJUSTMENT, THE SMALLEST INCREASE SINCE
JANUARY 1 9 7 7 . THE ANNUALIZED RATE OF CREDIT GROWTH WAS JUST UNDER 9 PERCENT
IN OCTOBER, IN LINE WITH THE 10 PERCENT AVERAGE OF JUNE THROUGH AUGUST. THE ANNUAL
RATE OF ADVANCE WAS 18 PERCENT IN SEPTEMBER.
THE CURTAILMENT OF GROWTH IN OUTSTANDING DEBT DURING OCTOBER REFLECTED BOTH
LOWER CREDIT EXTENSIONS AND HIGHER CREDIT LIQUIDATIONS. THE AMOUNT OF CREDIT NEWLY
EXTENDED DECLINED TO $27.70 BILLION IN OCTOBER FROM $28.63 BILLION THE PREVIOUS
MONTH. LIQUIDATIONS OF EXISTING DEBT INCREASED SUBSTANTIALLY TO A NEW HIGH OF
$25.51 BILLION FROM SEPTEMBER'S $24.19 BILLION. THE SLOWING OF CREDIT EXPANSION
WAS GREATEST IN THE AUTOMOBILE COMPONENT, WHERE EXTENSIONS DROPPED FROM $8.43 BILLION
IN SEPTEMBER TO $7.68 BILLION IN OCTOBER.
(IN MILLIONS OF DOLLARS)
INSTALLMENT CREDIT

OCT. 1979 ISEP. 1979 | O C T . 1979 I O C T . 1978 |LATEST 12 MONTHS
I
(NOT SEAS.ADJ.)
|(NOT SEAS.ADJ.)
(SEASONALLY ADJ.J

_,
AMOUNT EXTENDED:
AUTOMOBILE
REVOLVING (1)
MOBILE HOME
OTHER
AMOUNT LIQUIDATED
NET CHANGE IN AMOUNT
OUTSTANDING:
AUTOMOBILE
REVOLVING (1)
MOBILE HOME
OTHER

27,695]

28,6341

I

I

7,6761
10,4241
5821
9,0131

I
I
25,5091

I
I

_

—
28,0941

I

125,290|

I

8,4301
10,6991
5311
8,9741

7,8311
10,6161
5951
9,0521

7,4031
8,8151
598|
8,474|

I
I

I
I

I
I

24,1881

26,7791

22,852|

I
I

4,4461

2,1861

I

I

1,8231
1,0571
891
1,4771

I
I

1,3151

I
1111
4611
1391
6041

i
I

2,4381

I
1,0971
1591
141
1,1681

322,362
93,122
118,261
6,387
104,592
282,963
39,399
(4)
(4)
(4)
(4)

4871
6641
(2)
1501
I
I
(
885|
I
NOTE: THE BOARD'S SERIES COVERS MOST SHORTAND INTERMEDIATE-TERM
I
I CREDIT EXTENDED
i
I
TO INDIVIDUALS THROUGH REGULAR BUSINESS
CHANNELS, USUALLY TO FINANCE THE
(2)
305,2171
I
PURCHASE OF CONSUMER GOODS(2)
AND SERVICES
OR TO1REFINANCE
DEBTS 265,8141
INCURRED FOR
SUCH PURPOSES, AND SCHEDULED TO BE REPAID (OR WITH THE OPTION OF REPAYMENT)
IN TWO OR MORE INSTALLMENTS. DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING.
CREDIT CARDS AT RETAILERS, GASOLINE COMPANIES AND COMMERCIAL BANKS, AND
(1)
CHECK CREDfT AT COMMERCIAL BANKS.
NOT APPLICABLE OR NOT AVAILABLE.
(2)
A VALUE FOR THE UNAOJUSTED NET CHANGE IN OUTSTANDINGS APPEARS ALSO ON THE NEXT
(3)
TO LAST COLUMN ON THE NEXT PAGE, BUT NAY VARY SLIGHTLY, DUE TO DIFFERENT
AGGREGATION METHODS.
(4)
FOR VALUES SEE THE NEXT TO LAST COLUMN ON THE NEXT PAGE UNDER THE HEADING
"CHANGE FROM END OF OCTOBER 197* AMOUNT N.S.A."

AMOUNT OUTSTANDING,
END OF MONTH




(3)

CONSUMER INSTALLMENT CREDIT BY HOLDER AND TYPE

OCT. 1979

(IN MILLIONS OF DOLLARS)

E X T E N D

INSTALLMENT CREDIT BY
HOLDER AND TYPE

TOTAL

I
J
I
I

OCT.
1979
S.A.

27,6951

REVOLVING

MOBILE HOME,
COMMERCIAL BANKS
FINANCE COMPANIES
SAVINGS AND LOANS
CREDIT UNIONS
OTHEJ*

28,094|

!
I
I
I

12,190|

13,0471

4,605!

5,774!
2,7851

5711
lt773|
1191

I
I
I

I
!
I

3,401|
3,5181

4,0151

566|

625|

1,335!
151|

1.7341
114|

I
I
I

I
I
I

8,430!

7,5011

7,831!

I

!

4,3451

1,8091
It434|
2,0571

4,544!
2,569!
1,975!
1.655!
2,2311

2,384|
It961!
1,6431

4,3071
2,425|
1,8821
1,374|
2,150|

I

!

I
4,1851
2,376|

I

5,1651
3,4861.

1,7731

I
5821

I

3741
831

114|

HI
I

I

10,699!

1.513!

I
8,8461

I

I

5,398!
3,567!

4,475!
3,036!

1,734!

1.3351

!

I

5311

I
294!
69!

148|
201

!
8,974!

I

10,616!

1

5,3301
3,552!
1.7341

1

6041

5951

352!
731
1541
25!

• 3591
951
1311
101

I

!
6,815!

NET
CHG
OCT.
1979
S.A.
(1)

END OF
OCT.
1979
N.S.A.

26,779

2186

305,217

39,403

14.8

12,552
4,904
3,229
3,601

524
1.804
165

771
1076
-152
335
76
122
-42

149,152
65,692
46,770
24,860
10,073
4,174
2,496

16,450
13,715
4,V35
2,396
1,896
898
-87

12.4
26.4
9.3
10.7
23.2
27.4
-3.4

7,720

487

114,876

14,717

14.7

4,147
2,223
1,924
1,586
I,987

203
537
-34
-79
363

65,973
37,469
26,504
23,322
25,581

6,195
4,054
2,141
1,978
6,5*4

10*4
12.1
8.1
9.3
34.4

8,5001

10,155

664

50,883

6,304

19.5

4,1381

5,176
3,175
1,804

253
289
122

27,600
19,109
4,174

5,435
1,971
898

24.5
11.5
27.4

456

150

17,244

1,319

8.3

286
58
97
15

105
27
21
-3

10,013
3,295
3,41*
518

465
168
643
43

4.9
5.4
23.2
9.1

8,448

885

122,214

15,063

14.1

L I Q U I D A T E D
OCT.
1979
S.A.

SEP.
1979
S.A.

OCT.
1978
S.A.

OCT.
1
1
1979
( N.S.A.

I
1-

!

5,489|
3,363(
4,082!
678!
It734!
116!

9,013!

I

I
9,0521

25,509

24,188

22,390!

11,947
4,566
3,094
3,595
495
1,651
161

11,651
3,716
2,952
3,639
471
1,607
152

10,5651

I
1
1
I
3,7481
2,7571
3,4031
4391

1,3191
1591

0 U T S T A N D I N G
CHANGE FROM END
OF OCT. 1978
PERAMOUNT
CENT
N.S.A.

I
I

1
7,189

6,607

3,982
2,139
1,843
1,513
1,694

3,782
2,027
1,755
1,437
1,388

9,760

9,642

4,912
3,197
1,651

4,852
3,183
1,607

432

442

6.1261

I
3,586*
2,0301

l,556fi
1.342!
1.1981

I

1

3,0431

1.3191

1
5791

269
56
93
14

284
52
91
15

8,128

7,497

I
3771
75|
1081
19|

I
7,185!

210
45,566
4,355
2,943
2,784
2,733
I
I
686
2,859
36,816
7,003
2,816
2,276
2 , 4 6 41
3,0511
-70
2,114
1,628
24,930
1,567
1,500
3,5291
2,475!
46
426
425
396
5,751
456
1.401!
1.3961
1.7331
55
1.253
427
6,655
402
380
4631
360!
4621
5151
-42
-871
165
161
2,496
4571
152
4941
3311
4121
5301
1191
114|
1591
1511
1161
NET CHANGES FOR ALL MONTHS EQUAL EXTENSIONS
MINUS LIQUIDATIONS (REPAYMENTS, CHARGEOFFS. AND OTHER CREDITS).
INCLUDES AUTO DEALERS AND EXCLUDES 30-DAY CHARGE CREDIT HELD BY RETAILERS AND BY TRAVEL AND ENTERTAINMENT COMPANIES.

COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS
SAVINGS AND LOANS
MUTUAL SAVINGS BANKS

(1)
(2)

I
I
I
I

!
I
I

13,172!

10,4241

COMMERCIAL BANKS
RETAILERS
GASOLINE COMPANIES

25,7661

!
!
I
I

OCT.
1979
N.S.A.

5,6421
2,9421
3,930|

7,6761

COMMERCIAL BANKS
INOIRECT PAPER
OIRECT LOANS
CREDIT UNIONS
FINANCE COMPANIES

!
I
!
I

12,7181

BY MAJOR CREDIT TYPE
AUTOMOBILE

28,634!

I
I
I
I

BY MAJOR HOLDER
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS (2)
SAVINGS AND LOANS
GASOLINE COMPANIES
MUTUAL SAVINGS BANKS

SEP.
1979
S.A.

I
1

E D
iirOCT.
1978
S.A.

NOTE:



I

2,9941
3,5021
lt497|
4441

*

2,936(
3,1891
1,6881

I

3,0181
3,019!

S.A. ANO N.S.A. DENOTE SEASONALLY ADJUSTED AND NOT SEASONALLY ADJUSTED DATA, RESPECTIVELY.
DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING.

-10.6
23.5
9.3
8.0
23.2
-3.4