Full text of G.19 Consumer Credit : July 7, 1978

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F E D F R A L

R E S E R V E

statistical

release

FOR IMMEDIATE RELfcASE
JULY 7f 1976

G.19

CONSUMER INSTALMENT CREDIT -

MAY 1978

CONSUMER INSTALMENT CREDIT OUTSTANDING INCREASED $3.86 BILLION IN MAY,
SEASONALLY ADJUSTEOt UP SOMEWHAT FROM THE $3.72 BILLION EXPANSION IN APRIL. THE
MAY ADVANCE HAS BEEN EXCEEDED ONLY BY THE $4.07 BILLION GAIN RECORDED FOR MARCH.
THE ANNUAL RATE OF GROWTH IN MAY, AS IN APRIL, WAS AROUND 20 PER CENT, COMPARED
WITH EXPANSION DURING THE ENTIRE YEAR 1977 AT 17 PER CENT.
BOTH NEW EXTENSIONS OF INSTALMENT CREDIT AND LIQUIDATIONS OF EXISTING
INDEBTEDNESS ROSE MODERATELY TO NEW HIGHS IN MAY. EXTENSIONS TOTALED $22.34 BILLION,
AFTER SEASONAL ADJUSTMENT, WHILE LIQUIDATIONS WERE $18.48 BILLION, RESULTING IN
THE $3.86 BILLION NET CHANGE.
MOST OF THE INCREASE IN CREDIT EXTENSIONS DURING MAY WAS ATTRIBUTABLE
TO THE AUTOMOBILE COMPONENT, WHICH ROSE TO $7.39 BILLION FROM $7.25 BILLION THE
PREVIOUS MONTH. EXTENSIONS OF HOME IMPROVEMENT CREDIT SHOWED A RELATIVELY LARGE
GAIN, WHILE EXTENSIONS INCREASED SLIGHTLY IN THE LARGE "ALL OTHER" CATEGORY. MOBILE
HOME AND BANK-CARD CREDIT VOLUME WAS MARGINALLY LOWER.
(IN MILLIONS OF DOLLARS)
INSTALMENT CREDIT, TOTAL
AMOUNT EXTENDED:
AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK CREDIT CARD
OTHER REVOLVING (I)
ALL OTHER
AMOUNT LIQUIDATED
NET CHANGE IN AMOUNT
OUTSTANDING:
AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK CREDIT CARD
OTHER REVOLVING (1)
ALL OTHER
AMOUNT OUTSTANDING,
END OF MONTH

MAY 1978 | APR. 1978 | MAY 1978 | MAY 1977 |LATEST 12 MONTHS
(SEASONALLY ADJ.)
I
(NOT SEAS.ADJ.I
KNOT SEAS.ADJ.)
22,1171

24,0001

19,2751

I

I

I

7,2481
508!
753!
3,255(
6461
9,707!

8,297!
5371
916!
3,1651
644|
10,439!

6,473!
4451
704!
2,4851
4721
8,696|

I
I

I
I

I
I

I

18,4791

18,3961

I
I

I
I

19,1721
I

3,8571

3,7191

I

I

lt789|
581
2221
263|
1291
lt396|

lt728|
951
2121
311!
56!
1,317!

I
I

I
I
I

22,3361
I
7,3871
4901
798!
3,2451
6771
9,7391

(2)

|

(2)

I
4,628!
* !
2,467|
651
316!
1121
62|
1,606!

I
I
227,5611

»
16,1671

240,837
77,666
5,492
8,623
35,236
6,489
107,331
206,093

I
I
3,1081
I
1,559|
191
192!
731
54|
1,211!

34,744 (3)
(4)
(4)
(4)
(4)
(4)
(4)

I
I
192,8281

(2)

NOTE! CONSUMER INSTALMENT CREDIT CONSISTS OF SHORT- ANO INTERMEDIATE-TERM CREDIT
EXTENDED THROUGH REGULAR BUSINESS CHANNELS TO FINANCE THE PURCHASE OF GOODS
ANO SERVICES FOR PERSONAL CONSUMPTION, OR TO REFINANCE DEBTS INCURRED FOR
SUCH PURPOSES, AND SCHEDULED TO BE REPAID IN TWO OR MORE INSTALMENTS.
MORTGAGE CREDIT GENERALLY IS EXCLUDED. DETAILS MAY NOT ADD TO TOTALS DUE TO
ROUNDING.
(1)
BANK CHECK CREDIT AND OTHER BANK REVOLVING CREDIT.
(2)
NOT APPLICABLE.
(3)
A VALUE FOR THE UNADJUSTED NET CHANGE IN OUTSTANDINGS APPEARS ALSO ON THE NEXT
TO LAST COLUMN ON THE NEXT PAGE, BUT MAY 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 MAY 1977 AMOUNT N.S#A.»




CONSUMER INSTALMENT CREDIT BY HOLDER ANO TYPE -

MAY

1978

U N MILLIONS OF DOLLARS)

E X T E N DEO

L I

II

II

0 A T E D

Q U I

INSTALMENT CREDIT* BY
HOLDER ANO TYPE

TOTAL

BY HOLDER
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS
(2)
OTHERS
(3)
BY CREOIT TYPE
AUTOMOBILE* TOTAL

1
1
1
1

MAY
1978
S.A.

1
1
1
1
1
i
»
1
1
1

22*3361
1
1
1
1
11*004|
4,241|
3,5081
2*995|
5881

i

I

I

t

1
1

1
1
COMMERCIAL BANKS
1
IN01RECT PAPER
OIKECT LOANS
1
1
FINANCE COMPANIES
1
CREDIT UNIONS
OTHERS
(31
1
1
MOBILE HOME, TOTAL
1
1
COMMERCIAL BANKS
1
1
FINANCE COMPANIES
1
HOME IMPROVEMENT, TOTAL.1
•1
COMMERCIAL BANKS
1
1
REVOLVING
1
1
BANK CREOIT CARO
1
BANK CHECK CREOIT
1
1
1
ALL OTHER, TOTAL
1
1
COMM. BANKS• TOTAL
1
PERSONAL LOANS
4
FINANCE C O S . * TOTAL
1
PERSONAL LOANS
1
CREDIT UNIONS
1
RETAILERS
t
l
OTHERS
ID
(2)
13)




|
1
1
1

!

7,387!
t
4*189|
2,327|
1*86*1
1.3371
1*7981
631
1
490}
1
2941
74|
1
7981
1
3951
1
1
1
3*2451
677|
1
9*7391
1
2,2041
l,51l|
2,8191
2*273)
1,5001,
2,9951,
221!

APR,
1978
S.A.

|
1
I
I

22,1171
i
1
1
1
1
11,1201
4,2261
3,2671
2.9551
5491
1
1
1
7,2481

»

4*2121
2*3471
1*6651
1,314|
1*6541
681
1
508 §
I
2791
85|
1
7531
1
3821

I
1
»
3*2551
6461
1
9,7071
1
2,3461
1,6691
2,8141
2,2261
1,4311
2,9551
1611

MAY
1977
S.A.

|
MAY
1978
|
1 N.S.A.
1

18,5031
i

I
1
1
1
9,0701
3,3591
2,8601
2,7281
4851
1
t
t
6,048)
S
3,416$
1,7911
1,6251
1,114|
1.457|
601
1
4151
8
2751
50|
1
6361
1
3171
1
1
1
2,6211
5061
i
8,277i

I

1,9351
1,3961
2,1881,
1,7441
1,2331
2,7281
1931

II
11
If
II

24,00011

II
II
11
II
11,82311
4,629||
3,86911
3,06711
61211
M

n
8 . 2 9 7 IHI
4,744||
2,62911
2,11511
1,52811
1,9561)
6911
II
53711
11
32511
84||
II
91811
II
46111
II
II
II
3,16511
64411

II
10,43911

II

2,464||
1,64011
3,00411
2,42511
1,669«|
3,06711
235H

MAY
1978
S.A.

I
|
|
1

18,479|
i

1

1
1
1
9,1231
3,4781
2,5971
2,8251
456|
1
8
5,5985
1
3,2451
1,7521
1,4931
9701
1.3331
501
1
4321
1
2611
77|
1
5761
1
2861
1
1
1
2,9822
5481
1
8,3431
1
1,6011
1,3041
2,424|
1,946|
1,1291
2,6251
1641

APR.
1978
S.A.

|
I
|
1

18,3981
I
1

»

I

9,119|
3,4451
2,568 I
2,8261
4401
1
1
1
5,5201
1
3,2231
1,7441
1.4791
9391
1,3111
471
1
4131
1
2511
741
1
541f
I
2711
1
1
1
2.944|
5901
1
8,3901
1
1,8401
It3361
2,4271
1,9191
1,1301
2,6261
167*

MAY
1977
S.A.

MAY
I
|
1978
1 N.S.A.
1

15,8491
i

1
1
1
1
7,835|
2,8991
2,1951
2,518|
4011
1
1
1
4,8011
1
2,7961
1,5181
1.2781
856|
1,106)
431
1
4211
1
2631
74|

|

5021
1
2511
1
1
1
2,4301
4021
1
7.2921
1
1.692 1
1.2261
1,9611
1,5601
9751
2,5181
1461

NET | [ O U T S T A N 0 I N G
CHG I
| | MAY | I ENO OF I CHANGE FROM ENO
\ OF MAY 1977
I 1 19781 I MAY
I I S.A.I I
1976
1 AMOUNT 1 PER
I I ( 1 ) 1 1 N . S . A . 1 N . S . A . 1 CENT

1 9 , 1 7 2 1 1 36571 ! 2 2 7 , 5 6 1 ! 3 4 , 7 3 3 1
l i
1 I
M
II
II
9 . 4 8 2 1 1 18811 I 1 1 1 , 6 7 3 I 1 7 , 7 9 8 1
3.675N
763| I
46,136 1
6 , 0 0 9I
2.668M
9111 I
39,9511
7,2471
2.867H
170| 1
20,1411
2 , 2 3 01
48011
1321 !
9.660 1 1,449 1
H
II
II
5*83011 1789| 1 65,954 t 15,097 1
II
3,353||
9441 1 5 0 , 1 1 9
9,059 I
575| I
27,654 1
1,82111
5,2481
369| I
1,53211
22,265 1 3,8121
i,067||
367| 1
15,382 1
2,3591
1,360||
4651 I
19,635
3,601 I
50||
131 1
616
78 !
II
472M
581
15,220
680 1
II
288H
33|
8,912
232
61||
-31
3,098
-51
II
222|
602H
13,691l
2,164
II
297||
109|
6,762
1,036

19.0
15.0
22.2
12.5
17.6

21.3
22.1
23.2
20.7
18.1
22.2
14.4
4.7
2.7
-1.6
19.0
18.1

II
II
II
3,05311
56211

2631
129||

14,4561
3,9191

139611

94,3211

403||
207H
39511
327||
37111
17011
57||

27,4851
18,6401
27,4961
22,1101
16,7351
20,1411
2,464!

3,169
7711

28.1
24.5

II
8,63311

12,833

15.7

II
1.909H
1,38311
2,5*011
2,01511
1,16611
2,B67||
171H

NET CHANGES FOR ALL MONTHS EQUAL EXTENSIONS MINUS LIQUIDATIONS (REPAYMENTS, CHARGEOFFS* ANO OTHER C R E D I T S ) .
EXCLUDES 30-OAV CHARGE CREDIT HELO BY RETAILER'.;* O I L ANQjGAS COMPANIES* ANO TRAVEL ANO ENTERTAINMENT COMPANIES.
MUTUAL SAVINGS BANKS, SAVINGS ANO LOAN ASSOCIATIONS, AND AUTO DEALERS.
NOTE:

18.0

S.A. ANO N.S.A. OENOTE SEASONALLY ADJUSTED AND NOT SEASONALLY ADJUSTED DATA* RESPECTIVELY.
DETAILS MAY NOT ADO TO TOTALS DUE TO ROUNDING.

3,530
2,176)
3,6691
2,8961
3,0321
2,2301
372|

14.7
13.2
15.4
15.1
22.1
12.5
17.6