Full text of G.19 Consumer Credit : July 6, 1979

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s*&2&&-

FEDERAL

RESERVE

statistical

':?f**u30-'

release
FOP IMMEDIATE RELEASE
JULY 6, 1979

G.19 (421)

CONSUMER INSTALLMENT CREDIT - MAY 1979
CONSUMER INSTALLMENT CREDIT OUTSTANDING INCREASED BY $3.7 BILLION IN MAY, AFTER
SEASONAL ADJUSTMENT, DOWN FROM A REVISED $4.0 BILLION IN APRIL. THE AOVANCE IN MAY WAS
EQUIVALENT TO A 16 PERCENT ANNUAL RATE OF GROWTH, COMPARED WITH A REVISED 17 PERCENT IN
APRIL, 15 PERCENT IN THE FIRST QUARTER, AND 19 PERCENT BETWEEN DECEMBER 1977 AND DECEMBER
1978.
BOTH CREDIT EXTENDED AND LIQUIDATION OF EXISTING DEBT INCREASED TO RECORD HIGHS
IN MAY. EXTENSIONS WERE $28.03 BILLION, SOMEWHAT ABOVE THE REVISED APRIL HIGH OF
$26.89 BILLION. LIQUIDATIONS WERE $24.30 BILLION, COMPARED WITH THE REVISED
$22.85 BILLION IN APRIL AND THE PREVIOUS HIGH OF $22.97 BILLION IN MARCH.
MOBILE HOME CREDIT WAS THE ONLY MAJOR TYPE WHICH EXPANDED MORE IN MAY THAN IN
APRIL. AUTOMOBILE CREDIT, REVOLVING CREDIT, AND THE LARGE "OTHER" CATEGORY ALL GREW BY
LESS THAN IN APRIL.

(IN MILLIONS OF DOLLARS)
INSTALLMENT

CREDIT

AMOUNT EXTENDED:

MAY
1 9 7 9 | APR. 1 9 7 9
(SEASONALLY A D J . ) R
28,0271

MAY
1 9 7 9 I MAY
1978
(NOT S E A S . A D J . )

26,8891

I
AUTOMOBILE
REVOLVING ( 1 )
MOBILE HOME
OTHER

AMOUNT

LIQUIDATED

NET CHANGE I N AMOUNT
OUTSTANDING:
AUTOMOBILE
REVOLVING ( 1 )
MOBILE HOME
OTHER
AMOUNT OUTSTANDING,
END OF MONTH
NOT El

(1)
(2)
(3)

(4)

8,227|

10,170 I
659|
8,971|

I
7,8451
9,722|
5021
8,8201

24,2951

22,8511

I
I

4,0381

3,7321

I
1,2251
746|
235|
1,526|
(2)

I
I

29,9041
9,199|

10,1341
710|
9,861|

I
I
24,7041

I

1,3191
9181
84|

1,717|
(2)

1
5,2001

I
2,046|
7061
255 1

2,1931

I
I

I LATEST 12 MONTHS
KNOT SEAS.AOJ.)R

26,8981
8,5531
8,5071
5781
9,2601

I
I
21,3831

I
I
5,5151

I
2,6121
5411
1081
2,2541

I
I
243,3711

312,965
92,886

111,204
6,180
102,695

268,732

44,233
(4)
(4)
(4)
(4)

(2)
287,5951
THE BOARD1S SERIES COVERS MOST SHORT- AND INTERMEDIATE-TERM CREDIT EXTENDED
TO I N D I V I D U A L S THROUGH REGULAR BUSINESS CHANNELS, USUALLY TO FINANCE THE
PURCHASE OF CONSUMER GOODS AND SERVICES OR TO REFINANCE DEBTS INCURRED FOR
SUCH PURPOSES, AND SCHEDULED TO BE REPAID (OR WITH THE OPTION OF REPAYMENT)
I N TWO OR MORE INSTALLMENTS.
DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING.
CREDIT CARDS AT R E T A I L E R S , GASOLINE COMPANIES AND COMMERCIAL BANKS, AND
CHECK CREDIT AT COMMERCIAL BANKS.
NOT APPLICABLE OR NOT A V A I L A B L E .
A VALUE FOR THE UNADJUSTED NET CHANGE I N OUTSTANDINGS APPEARS ALSO ON THE NEXT
TO LAST COLUMN ON THE NEXT PAGE, BUT MAY VARY S L I G H T L Y , DUE TO DIFFERENT
AGGREGATION METHODS.
FOR VALUES SEE THE NEXT TO LAST COLUMN ON THE NEXT PAGE UNDER THE HEADING
"CHANGE FROM END OF MAY 1 9 7 8 AMOUNT N . S . A . "

R - COMMERCIAL BANK AND TOTAL FIGURES HAVE BEEN REVISED FOR APRIL.



(3)

CONSUMER INSTALLMENT CREDIT BY HOLDER AND TYPE

MAY

1979

(IN MILLIONS OF DOLLARS)

L I Q U I D A T E

E X T E N D E D
INSTALLMENT CREDIT BY
HOLDER AND TYPE

TOTAL

APR.
1979
S.A.

28,027

26,8891

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

13,499
5,213
3,124
3,721
723
1,613
134

BY MAJOR CREDIT TYPE
8,227

AUTOMOBILE
COMMERCIAL BANKS
INDIRECT PAPER
DIRECT LOANS
CREDIT UNIONS
FINANCE COMPANIES

COMMERCIAL BANKS
RETAILERS
GASOLINE COMPANIES

5,285
3,272
1,613
659

MOBILE HOME
COMMERCIAL BANKS
FINANCE COMPANIES
SAVINGS AND LOANS
CREDIT UNIONS

411
49
182
17
8,971

OTHER

3,155
3,151
1,541
449

541
134

MAY
1978
S.A.

MAY
1979
N.S.A.

1 ^APR.
1 1979
1 S.A.

1 MAY
I 1978
! S.A.

25,104

29,904

24,295 1

22,851 1

12,067
4,179
3,484
3,408
383
1,356
227

14,318
5,783
3,567
3,806

11,837
3,891
3,000
3,438
443
1,517
169

t
1
1
1
I
1
I

10,908 1
3,894 1
2,614 I
3,436 1
401
1,432 1
166

7,592

9,199

7,002 1

4,547
2,550
1,997
1,680
1,365

5,122
2,796
2,326

4,015
2,144
1,871
1,506
1,481

9,7221

8,563

10,134

4,923|

4,191
3,016
1,356

20,824 1 24,704| | 37321 1 287,595

44,224 !

18.2

12,9581

5,2711
2,7531
3,7421

12,0401 1 16621 1 142,050
4,0411 1 13221 I 59,967
3,0571 f 124| 1 46,832
3,4821 1 2831 ! 23,421
469| ( 28011
9,066
1,4381 1
3,537
961 1
177| 1 -35| 1
2,722

21,610
12,387
6,351 1
1,677
1,339 1
468 1
392

17.9
26.0
15.7
7.7
17.3
15.2
16.8

5591

1,5051
1011

702
1,592
136

I
I
I

18,802

20.8

9,807 I
3,318 1
2,635 1
3,273 1
316
1,334
141

6,526

5,715

7,153| 1 12251 ! 109,161

3,881 1
2,221
1,660 1
1*351
1,294 i

3,511 1
1,904
1,607 1
1,303
901

4,0761 1
2,1781 1
1,8981 1
1,526| 1
1,5511 1

6331 !
3971 1
236| 1
60| 1
5321 I

63,841
35,869
27,972
22,394
22,926

9,763
18.1
18.9
5,700
4,063 1 17.0
3,037 1 15.7
6,002
35.5

9,424 1

8,804

7,919

9,4281 1

7461 I

46,487

7,520

19.3

5,214
3,328
1,592

4,870 1
3,037 1
1,517 1

4,318 I
3,054!
1,432

3,702
2,883|
1,334

4^9291 1
3,0611 1
1,4381 1

4151 1
2351 1
961 1

25,052
17,8981
3,537

5,674
1,378
468

29.3
8.3
15.2

527

710

424 I

418

426

4551 1

2351 1

16,453

1,057

6.9

3051
50|
1341
131

346
69
92
20

458
56

175
21

286 1
35 1
88 |
15 1

283
43
78
14

269
67|
78
12

3051 1
381 1
96| 1
161 I

1251 1
14| !
94| 1
21 !

I

8,422

9,861

7,445 1

7,103

6,764

7,6681 I 1526! 1 115,494

2,983
2,745
1,784
392

3,524
3,420
1,776
478
527

2,666 1
2,375 I
1,479 1
401 1
355 1
169 1

2,426
2,557
1,249
382
3231
166

2,325
2,350
1,320
390
238
141

2,7301 !
2,4521 !
1*5151 1
4211 1
3731 !
177| 1

7,8451

I

4,5531
2,6301
I t 9231

lt415|
1,8771

I

I

3,2941
l,505|

I
502|

I

I
3,177|
3,3441
1»325|
4481
425|
101|

2911
227

1,770
2,307

136

1
|
1
1
1

489( 1
7761 1
621 1
48! 1
186|1
-35|!

9,702
3,177|
3,076
498

43,455
33,864
23,940
5,523
5,990
2,722

427 1
4.6
1171
3.8
447
17.0
66
15.3
16,845

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

R - COMMERCIAL BANK AND TOTAL FIGURES HAVE BEEN REVISED FOR APRIL.

RESPECTIVELY.

17.1

5,746
15.2
6,268
22.7
15.7
3,248
299
5.7
892 I 17.5
392
16.8

NET CHANGES FOR ALL MONTHS EQUAL EXTENSIONS MINUS LIQUIDATIONS (REPAYMENTS, CHARGEOFFS, AND OTHER C R E D I T S ) .
INCLUDES AUTO DEALERS AND EXCLUDES 30-DAY CHARGE CREDIT HELD BY RETAILERS AND BY TRAVEL AND ENTERTAINMENT COMPANIES.
NOTE:




MAY
19 79
S.A.

NET | 1 0 U T S T A N D I N 6
CHG I
MAY t 1 END OF CHANGE FROM END
19791 1 MAY
OF MAY 1978
S.A.I ! 1979
AMOUNT
PERN.S.A. 1 CENT
(1) 1 1 N.S.A.

I
I
I
I

8,8201

COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS
SAVINGS AND LOANS
MUTUAL SAVINGS BANKS
(1)
(2)

4,648
2,541
2,107
1,566
2,013
10,170

REVOLVING

I
I
I
I

MAY
1979
S.A.

11
1
1 MAY
II
I 1979 | I
N.S.A. | 1
1
D