Full text of G.19 Consumer Credit : February 6, 1976
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fSSiUi:
FEDERAL
RESERVE
statistical
release
'•?$*&*:''
FOR IMMEDIATE RELEASE
FEBRUARY 6, 1976
G.19
CONSUMER INSTALMENT CREDIT - DECfcMBER 1975
CONSUMER INSTALMENT CREDIT OUTSTANDING ROSE IN DECEMBER BY $894 MILLION,
AFTER SEASONAL ADJUSTMENT, COMPARED WITH AN INCR EASE OF $805 MILLION IN NOVEMBER.
THE DECEMBER RISE WAS THE LARGEST INCREASE SINCE AUGUST 1974. AMONG MAJOR CREDIT
TYPES, THE SEASONALLY ADJUSTED GAIN IN AUTOMOBIL E CREDIT OUTSTANDING OF $539 MILLION
IN DECEMBER WAS THE BIGGEST MONTHLY ADVANCE SINC E SEPTEMBER 1973. CREDIT OUTSTANDING
FOR "ALL OTHER" PURPOSES—MAINLY RETAIL STORE CR EDIT AND MERCHANDISE-SECURED OR CASH
LOANS BY FINANCIAL INSTITUTIONS—WAS ALSO UNUSUA LLY ACTIVE, INCREASING BY $440 MILLION.
MEANWHILE, MOBILE HOME CREDIT AT COMMERCIAL BANK S AND FINANCE COMPANIES DECLINED BY
S71 MILLION, CONTINUING THE SLIDE EXPERIENCED IN 12 OF THE LAST 13 MONTHS. BANK-CARD
CREDIT CONTRACTED BY $50 MILLION.
SEASONALLY ADJUSTED EXTENSIONS AND LIQUIDATIONS OF INSTALMENT CREDIT BOTH
REACHED NEW HIGHS IN DECEMBER, AT $15.29 BILLION AND $14.40 BILLION, RESPECTIVELY.
THE MAJOR UPWARD STRENGTH IN EXTENSIONS WAS PROVIDED BY A NEW HIGH OF $4.40 BILLION IN
AUTOMOBILE CREDIT EXTENSIONS, AND BY A REBOUND IN THE "ALL OTHER" CATEGORY. NEW HIGHS
WERE RECORDED IN LIQUIDATIONS OF AUTO CREDIT AND BANK REVOLVING CREDIT.
CONSUMER INSTALMENT CREDIT -
DEC. 1975
(IN MILLIONS OF DOLLARS)
I
I
I
12 MONTHS
ENDING
DEC. 1975
NOV. 1975 | DEC. 1975 | DEC. 1974 | DEC. 1975 I
(SEASONALLY ADJ.)
I
(NOT SEAS.ADJ. )
I
INSTALMENT CREDIT, TOTAL
I
14,8771
AMOUNT EXTENDED:
I
4,4051
291!
418|
1,7191
4121
8,0511
I
I
AMOUNT LIQUIDATED:
I
I
NET CHANGE TN AMOUNT
OUTSTANDING
AMOUNT OUTSTANDING,
END OF MONTH:
XXXXXXX
2,840|
3,926|
240!
3321
2,3381
4461
9,964)
261|
396|
8,6021
»
13,3111
14,6281
163,114
2,6181
3,718
ltll9|
!
I
158,1011
I|
I
XXXXXXX
I
I"
I
I
»
I
46,529
3,368
4,335
19,566
4,215
88,819
I
I
!
894!
166,831
I
1,879!
14,401!
8051
I
IJ
1 7 , 2 4 6b\|
2531
I
I
14,0731
14,4301
!
I
4,218)
330|
4091
lt752l
3481
7,8191
AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK CREDIT CARD
OTHER REVOLVING (1)
ALL OTHER
I
15,2951
!
I
161,8191
156,156
12)
(1) BANK CHECK CREDIT AND OTHER BANK REVOLVING C R E D I T .
(2) ANNUAL AVERAGE.
HOLDER SHARES OF INSTALMENT
(IN
CREOIT
PER CENT)
SHARE OF EXTENSIONS
(SEASONALLY ADJ.)
DEC.
1974)
!
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS (1)
OTHERS (2)
42.4|
24.8J
14.0!
18.11
.71
NOV.
I MONTH-END SHARE OF OUTSTANDINGS
!
(NOT SEASONALLY A D J . )
DEC. 1 9 7 5 ! DEC. 1 9 7 4 ) NOV. 1 9 7 5 ) DEC. 1 9 7 5
19751
1
»
1
!
1
44.41
23.1!
15.6!
15.91
1.0!
44.4|
25.0|
13.4)
15.5!
1.71
»
48.0)
24.6!
14.01
11.3!
2.1!
1
1
46.8
24.1
15.7
11.3
47.2)
24.3!
15.71
10.6!
2.21
2.1
1
(1) RETAIL STORES AND CATALOG ORDER.
(2) MUTUAL SAVINGS BANKS, SAVINGS AND LOAN ASSOCIATIONS, AND AUTO DEALERS.
INSTALMENT CREDIT FLOWS, QUARTERLY AVERAGES
(SEASONALLY ADJUSTED ANNUAL RATES)
TOTAL
INSTALMENT
CREDIT
EXTENSIONS
LIQUIDATIONS
NET CHANGE
IS 741V
I
156,4081
158,0841
-1,676|
QUARTERLY TOTAL
( M I L L I O N S OF DOLLARS)
19751
! 197511
| 1975III
I
155,313)
I
159,1211
158,389)
-3,076)
160,7061
I
-1,585|
I
I
I
I
173,215)
164,056)
9,160!
1975IV
AS PER CENT OF DISPOSABLE
PERSONAL INCOME
| 19751
t 1974IV
I
180,015!
169,889)
10,126!
I
I
15.41
15.6 1
-.2!
!
! 1975II
15.21
15.5!
-.3)
»
I 1975111
) 19751V
!
!
15.11
16.2
15.2
.8)
.9
14.7!
14.9|
-.1)
15.9|
)
I
CONSUMER
INSTALMENT CREDIT BY HOLDER AND TYPE -
DEC.
1975
( I N MILLIONS OF DOLLARS)
!
E X T E N D E D
INSTALMENT
CREDIT,
1
1
1
HOLDER AND TYPE
BY HOLDER
COMMERCIAL BANKS
F I N A N C E COMPANIES
C R E D I T UNIONS
RETAILERS
(2)
(3)
OTHERS
TYPE
AUTOMOBILE,
1
|
I
1
|
13,0561
1
1
1
1
1
1
1
1
1
!
1
1
5,5361
3,2401
lt824|
2,3641
1
931
1
1
TOTAL
COMMERCIAL BANKS
F I N A N C E COMPANIES
C R E D I T UNIONS
(3)
OTHERS
MOBILE
DEC.
1974
S.A.
!
TOTAL
BY C R E D I T
COMMERCIAL
4,2181
1
I
1,8881
719|
696|
161
1
1
2f460|
8311
8851
421
3391
t
219|
l
1
1
|
i
BANK C R E D I T CARD
BANK CHECK C R E D I T
1
1,426|
3771
i
ALL O T H E R ,
TOTAL
I
7,276|
1
1
1
1
1
1
I
1,4131
1*0161
2,4001
1,265!
1*0991
2,364|
1
COMM. BANKS* TOTAL
PERSONAL LOANS
F I N A N C E C O S . , TOTAL
PERSONAL LOANS
C R E D I T UNIONS
RETAILERS
OTHERS
(II
C2>
(3)
Q U I D A T E D
*
1
1
1
1
!
! 1
I !
DEC.
1974
S.A.
!
!
I
NOV.
1975
S.A.
!
I
I
DEC.
1975
S.A.
DEC.
)
1975
!
I N.S.A.
I
1
I
11
! !
| 1
1
NET ! I 0 U T S T A N D I N G
CHG t
D E C ! ! END OF ICHANGE 1'ROM END
197511 DEC.
OF
DEC. 1 9 7 4
S.A.J 1 1975
AMOUNT
PER
N.S.A.!
CENT
(1) !( N.S.A.
14,628! 1
894|1
1
1
!
I
1
310|1
34{ I
47111
125! 1
- 4 4 1!
75*710
38*932
25*354
18*328 1
3*495
-136
7
3,238
395
214
3*8651
3*776| 1
540|1
53*629
1,420
2.6
2*2971
6871
7941
37!
2*331!
808|
691!
36|
2*2821
7731
685!
361
1
I
1
1
26011
89|1
184! 1
6|!
30*198
13*364
9*653
414
-796
929
1,239
48
-2.6
7.0
12.8
11.6
244
131
239|
72|
2641
981
247! 1
90| !
- 6 1 |I
-1011
8,420
3,504
-552 i
-66
-6.6
-1.9
3321
357
3711
395J
393( 1
23|!
8,301
-98
-1.2
194!
187
2021
2121
209| 1
411!
4,813
118
2.5
9*078
2*8831
796
87
8.8
3.0
17,2461
13,439|
14,0731
14,4011
6,917!
4,128(
2,376!
3,7161
109|
6*054
3*309
1*640
2*238
199
6,3671
3*555!
1»725|
2*2181
208!
6*486!
3*496!
1*910|
2*306!
202!
6,3821
3*838}
1*956|
2*248(
204|
3,926|
3*685
3*814!
2,245!
8121
847!
221
2*308
721
622
33
203!
88|
j
1651
75!
4181
161,819
S.A.
AND N . S . A .
LESS THAN $ 0 . 5
3*718
2.3
1
1
1
I
6,796!
3,530!
2,3811
2,431!
158!
i
1
-.2
*
12.8
2.2
6.1
1
I
4,405|
»
2,591!
8971
8751
42!
1
1
»
2331
971
1
409|
1
!
2431
2531
II
i
1
1
i
!
1,7521
3481
1 , 7 1 9 !j
412!
2,338!
446) j
1,533
315!
1*7231
346!
1,7681
399|
1,761! !
3841 1
-49!1
13! t
8,0511
9*964(1
7*175
7,507!
7*6111
7,977! 1
440!1
76*0041
2,130
2.8
1*529||
1*126||
3,223||
2*017!|
1*4841!
3,716!!
12!!
1,467
1*0231
2*413|
1*3341
9931
2*2381
65|
1*5601
1*0821
2*751|
1*6591
901!
2*218|
1*512!
1*029!
2,531!
1*490!
1*187|
2,306|
75|
1*499!
1*035!
2,916!
1*780!
1*239!
2,248!
75!
10711
14911
-4! 1
2311
274!1
125!1
- 6 1 !1
20*318
14*035
21*4651
17,1791
14,937
18,3281
956 1
210
264
-462
3
1,900
395
87
1.0
1.9
-2.2
•
I
7,819|
1
1.5621
1,0761
2,7711
1,6741
1,0741
2,302)
111!
1
1,619!
1*1781
2,527!
1,513!
1,461!
2,431!
14|
771
!
1
j
1
1
!
!
NET CHANGES FOR ALL MONTHS EQUAL EXTENSIONS MINUS LIQUIDATIONS (REPAYMENTS* GHARGEOFFS* AND OTHER C R E D I T S I .
EXCLUDES 30-DAY CHARGE CREDIT HELD BY RETAILERS* O I L AND GAS COMPANIES* AND TRAVEL AND ENTERTAINMENT COMPANIES
AMOUNTING TO $ 2 2 0 5 MILLION AT J H E END OF DECEMEER.
THUS REPRESENTS AH INCREASE OF $ 2 5 MILLION .FROM-JH£ END OF
NOVEMBER ON A SEASONALLY ADJUSTED BASIS AND AN INCREASE OF $38 MILLION ON AN UNADJUSTED B A S I S .
MUTUAL SAVINGS BANKS* SAVINGS AND LOAN ASSOCIATIONS* AND AUTO DEALERS.
NOTES
*
i
3,319|
BANKS
REVOLVING
6,5991
3,7121
1,9951
2,3021
268|
1
TOTAL
1
DEC.
I
1975
! N.S.A.
15,2951
I
1
1
j
2131
1061
DEC.
1975
S.A.
1
14,8771
i
i
IMPROVEMENT,
I
I
|
I
Ii
HOME
NOV.
1975
S.A.
i
COMMERCIAL BANKS
F I N A N C E COMPANIES
HOME
L I
BY
DENOTE SEASONALLY ADJUSTED AND NOT SEASONALLY ADJUSTED DATA*
M I L L I O N * OR LESS THAN 0 . 0 5
PERCENT, AS APPLICABLE.
RESPECTIVELY.
12.7
2.2
9.1
@FedFRASER