Full text of G.19 Consumer Credit : May 5, 1977

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FEDERAL

RESERVE

statistical

release
FOR IMMEDIATE RELEASE
MAY 5, 1977
MARCH 1977

CONSUMER INSTALMENT CREDIT

CONSUMER INSTALMENT CREDIT OUTSTANDING INCREASED I N MARCH BY A RECORD
$ 2 . 7 2 B I L L I O N , SEASONALLY ADJUSTED. THE LARGEST PREVIOUS ADVANCE WAS $ 2 . 0 9 BILLION
IN FEBRUARY 1 9 7 3 .
CREOIT NEWLY EXTENDED, AT $ 1 8 . 2 5 B I L L I O N , REACHED A NEW HIGH
FOR THE FOURTH MONTH I N A ROW, $ 1 . 0 7 B I L L I O N MORE THAN FEBRUARY'S VOLUME.
LIQUIDATIONS
OF EXISTING DEBT ALSO POSTED A RECORD AT $ 1 5 . 5 4 B I L L I O N .
AUTO CREDIT OUTSTANDING GREW BY $ 1 . 2 0 BILLION I N MARCH, SEASONALLY ADJUSTED,
AN ADVANCE NEARLY $200 MILLION LARGER THAN THE PREVIOUS RECORD RECORDED LAST DECEMBER}
AUTO CREDIT EXTENDED, AFTER SEASONAL ADJUSTMENT, ROSE 9 PER CENT, TO $ 5 . 6 5 B I L L I O N , y
WHILE LIQUIDATIONS ROSE ONLY 3 PER CENT, RESULTING I N THE LARGER NET CHANGE.
BANK-CARD CREDIT OUTSTANDING INCREASED BY A RECORD AMOUNT DURING MARCH —
$294 MILLION — AS BANK-CARO EXTENSIONS POSTED A NEW HIGH OF $ 2 . 4 3 B I L L I O N .
LIQUIDATIONS OF BANK-CARD DEBT EDGED DOWN SOMEWHAT TO $ 2 . 1 4 B I L L I O N .
A RECORD NET
ADVANCE WAS ALSO TALLIED I N THE LARGE "ALL OTHER" CREOIT CATEQORY, WHICH GREW BY
$1.07 BILLION.
THE NET GAIN IN HOME IMPROVEMENT CREDIT REBOUNDED IN MARCH, WHILE
MOBILE HOME CREDIT OUTSTANDING SHOWEO A SMALL INCREASE AFTER NEARLY TWO YEARS OF
CONTRACTION ON BALANCE.
U N MILLIONS OF DOLLARS)
INSTALMENT CREDIT, TOTAL

| MAR. 1977 I FEB. 1977 I MAR. 1977 I MAR. 1976 (LATEST 12 MONTHS
I
(SEASONALLY A D J . )
I
(NOT SEAS.ADJ.)
((NOT SEAS.ADJ.)

AMOUNT EXTENDEO:

18,2531

17,186!

18,128!

15,339!

192,256

5,6541
3111
4781
2,434|
4561
8,9201

5,205!
260!
4571
2,332!
448!
6,484|

5,9941
296|
4721
2,269!
4551
8,6421

5,0771
286!
421!
1,9471
384|
7,224|

57,495
3,116
5,158
26,166
5,027
95,295

1

!

1
1

1
1

15,164|

16,685!

»1

2,717!

2,022!

»»

!
»

1,2011
191
971
2931
381
1,0691
1
I
(2)
1

884!
-69|
73!
170!
321
9311

1,443!
i
1,067!
-281
66|
-1161
-10!
4631

325!
i
607!
-681
53!
-187!
-34!
-44!

»
1
1

AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK CREOIT CARD
OTHER REVOLVING C I )
ALL OTHER

»

1
1
1
f
1
1
1
I
1
1
1
1
1
1
1
1
11
1

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

)
1
15,5361

!

!
»
(2)

t

1
179,695!

!
»

15,014»

173,290
18,966 (5)
(6)
(6)
(6)
16)
(6)
(6)

1

!
160,729!

(2)

HOLDER SHARES OF INSTALMENT CREOIT
(IN PER CENT)
|
SHARE OF EXTENSIONS
! MONTH-END SHARE OF OUTSTANDINGS
»
(SEASONALLY ADJ.)
I
(NOT SEASONALLY ADJ.)
! MAR. 1977! FEB. 1977) MAR. 19761 MAR. 19771 FEB. 1977! MAR. 1976

HOLOER

47.4|
19.0|
15.4!
16.7!
l.5|

46.9!
20.01
16.01
I5.lt
2.01

47.71
19.51
16.3!
15.4|
1. LI

COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS (3)
OTHERS (4)

47.8!
22.21
17.51
10.11
2.4|

47.7|
22.31
17.21
10.3!
2.5!

48.6
22.7
16.2
10.2
2.3

INSTALMENT CREDIT FLOWS, QUARTERLY AVERAGES
(SEASONALLY AOJUSTEO ANNUAL RATES)
TOTAL
INSTALMENT
CREOIT

FXTENSIONS
LIQUIDATIONS
NET CHANGE

(1)
(2)

!
I
I

I

(MILLIONS OF DOLLARS)
19771

! 1976IV

209,236!
182,606!
26,6301

! 1976III ! 1976II

194,079)
175,559!
18,520!

186,8031
170,053!
16,750!

I 19761

182,541)
165,612!
16,929|

(3)
CONSUMER INSTALMENT CREDIT CONSISTS OF SHORT- AND
(4)
INTERMEDIATE-TERM CREDIT EXTENDED THROUGH REGULAR
BUSINESS CHANNELS TO FINANCE THE PURCHASE OF GOODS
AND SERVICES FOR PERSONAL CONSUMPTION, OR TO REFINANCE OEBTS INCURRED FOR SUCH PURPOSES, AND
SCHEDULED TO BE REPAID IN TWO OR MORE INSTALMENTS.
MORTGAGE CREDIT GENERALLY IS EXCLUDED. DETAILS MAY
NOT ADO TO TOTALS DUE TO ROUNDING.
(6)
BANK CHECK CREDIT AND OTHER BANK REVOLVING CREOIT.
NOT APPLICABLE.




) 19771

182,7931
168,000|
14,792!

AS PER CENT OF DISPOSABLE
PERSONAL INCOME
! 19761V I 1976III » 1976II

16.81
14.7!
2.1l

16.0!
14.4J
1.5|

15.71
14.3!
1.4)

! 19761

15.61
14.1|
1.4|

15.9
14.6
1.3

RETAIL STORES AND CATALOG ORDER.
MUTUAL SAVINGS BANKS, SAVINGS AND LOAN ASSOCIATIONS,
AND AUTO DEALERS.
A VALUE FOR THE UNAOJUSTED 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.
FOR VALUES SEE THE NEXT TO LAST COLUMN ON THE NEXT
PAGE UNDER THE HEADING "CHANGE FROM END OF MARCH
1976 AMOUNT N.S.A."

CONSUMER INSTALMENT CREDIT BY HOLDER AND TYPE -

MAR. 1977

(IN MILLIONS OF DOLLARS)

L I 0 U I 0 A T E 0

E X T E N D E D
INSTALMENT CREDIT, BY
HOLDER AND TYPE

i
!•"*MAR.'"~"»"

- ™ —

» « - r " » - » - > » - L «" • — " " * " " • * " " • *

1
'

1

FEB.
1977
S.A.

TOTAL

1977
S.A.

16,253

I

17,186

—

MAR.
1976
S.A.

•• •"

rr

" •" —

FEB.
1977
S.A.

MAR.
1976
S.A.

15,536 1

15,164

14,048

8,817|
3,5521
3,018| 1
2,4821 1
259|

7,253 I
3,186
2,261
2,579 1
257 1

7,227
2,9951
2,2031
2,485
254

6,800
2,663
1,875|
2,4881
222

7,9061
3,4941
2,271!
2,736!
278!

1
I
I

18,1281

MAR.
1977
N.S.A.

1!
1
1I
1!
I1
!

MAR.
1977
S.A.

MAR.
1977
N.S.A.

15,521

1

NET | ! 0 U T S T A N 0 I N G
CHG |
. in
• « » • .
• — •
~
" • " •i
MAR.I ! END OF CHANGE FROM END
19771 1
HAR.
OF
MAR. 1 9 7 6
S.A.) 1
AMOUNT|
1977
PER
N.S.A.
CENT
(1) 11 N.S.A.
r

16,6851 1 2717! I

Ti-n

18,966

11.8

85,916
39,889 1
31,448
18,066
4,374

7,877
3,439
5,423
1,693
534

10.1
9.4
20.6
10.3
13.9

179,695

bY HOLDER
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS
(2)
OTHERS
(3)

1
1
1

>

8,715
3,559
2,978 1
2,817 1
185

8,055 1
3,437
2,743 1
2,603 1
347

7,352
2,945
2,389
2,596
238

5,654

5,205

4,689

5,994|

4,453

4,320

4,026

4 , 9 2 7 1 1 12011 1

61,841

8,190

15.3

3,350
1,8181
1,532
1,1*1
1,124
30

3,0751
1,641
1,4351
999
1,075
55

2,6991
1,5141
1,185|
990
964
35

3,5551
1,923|I
1,632|
1,1761 1
1,2131
50|

2,591
1,432
1,159|
957 1
857
49

2,571
1,402
1,169
838
862
49

2,463
1,416
1,047
750
772
42

2,8151
1,558!
1,2571
1,134|
927!
51!

1
1
1

1 14621 1
1
373! 1
1
717J 8
1
2381 1
!
-72!i

BY CREDIT TYPE
AUTOMOBILE, TOTAL
COMMERCIAL BANKS
INDIRECT PAPER
DIRECT LOANS
FINANCE COMPANIES
CREDIT UNIONS
OTHERS
(3)

1
1

!
(
1
!
!
1

759| I
3851 !
3731 1
1941 1
267! !
-19! !

36,232
20,005
16,227
13,084
11,976
549

4,651
1,805
2 , 8 46
1,389
2,068
82

14.7
9.9
21.3
11.9
20.9
17.6

MOBILE HOME

1

254
57

207
52

233
63

2431
531

238
53

233
96

251
63

2611 !
631 1

16| !
3! !

8,076
3,197

-409
-166

-4.8
-4.9

HOME IMPROVEMENT, TOTAL 1

478

457

414

4721

382

38 5

344

406| 1

97|(

8,816

790

9.8

308

251

253

282!

233

237

212

2461 !

75| 1

5,343

419

8.5

2,434
456

2,332
448

2,118
380

2,2691
4551

2,141
419

2,161
416

1,926
364

2,384| 1
465! I

293) 1
38| )

10,705
3,030

1,484!
261

16.1
9.4

8,920

8,484

7,624

8,6421

7,850

7,553

7,074

8,179! )

1069) 1

64,031

8,816

11.7

1,913
1,3791
2,346
1,814
1,7921
2,817
t>2!

1,742
1,2811
2,379
1,8431
1,6121
2,603
149

1 ,669
1,1821
1,890
1,551
1,3761
2,596
93

2,0131
1,43511
2,3171
1,7591
1,739!|
2 , 4 8 2 11
91 I

1,632
I,1791
2,171
1,646
1,363
2,579|
105 I

1,608
1,1671
2,059i
1,714
1,300
2,485
1011

1,584
1,1311
1,846
1,489
1,069
2,488
861

1,735!
1,2561
2,2911
1,7091
1,301!
2,736!
116!

22,531
15,769 I
23,480
19,048
18,524
18,068
1,428 1

1,471
1,191
2,233 1
1,614 1
3,191 1
1,693
228 1

7.0
8.2
10.5
9.3
20.8
10.3
19.0

COMMERCIAL BANKS
FINANCE COMPANIES

COMMERCIAL BANKS

1

REVOLVING
BANK CREDIT CARD
BANK CHECK CREDIT
ALL OTHER, TOTAL

|

COMM. BANKS, TOTAL
PERSONAL LOANS
FINANCE C O S . , TOTAL
PERSONAL LOANS
CREDIT UNIONS
RETAILERS
OTHERS

(1)
(?)

(3)




!
I
1
(
!
1
!

2811 1
200| 1
175! 1
168 1 !
428 1 !
238| (
-54!!

NET CHANGES e 1R ALL MONTHS EUUAL EXTENSIONS MINUS LIQUIDATIONS (REPAYMENTS, CHARGEOFFS, AND OTHER C R E D I T S ) .
EXCLUDES 3 0 - D A Y CHARGE CREDIT HELD BY RETAILERS.
ALSO EXCLUDES O I L AND GAS COMPANIES, AND TRAVEL ANO ENTERTAINMENT
COMPANIES AMOUNTING TO $2238 MILLION AT THE END OF MARCH.
T H I S REPRESENTS AN INCREASE OF $ 8 8 MILLION FROM THE
cND OF FEBRUARY ON A SEASONALLY ADJUSTED BASIS ANO AN INCREASE OF $19 MILLION ON AN UNADJUSTED B A S I S .
MUTUAL SAVINGS BANKS, SAVINGS ANO LOAN ASSOCIATIONS, AND AUTO DEALERS.
NOTE:

S-A.

AND N . S . A .

DENOTE SEASONALLY ADJUSTED AND NOT SEASONALLY ADJUSTED DATA,

RESPECTIVELY.