Full text of G.19 Consumer Credit : May 6, 1976
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL
RESERVE
statistical
release
FOR IMMEDIATE RELEASE
MAY 6 , 1976
G.19
CONSUMER INSTALMENT CREDIT - MARCH 1976
CONTINUED STRENGTH I N AUTOMOBILE FINANCE, TOGETHER WITH A REBOUND IN -ALL
OTHER* CREDIT, LED TO A HIGHER RATE OF EXPANSION IN TOTAL CONSUMER INSTALMENT CREDIT
DURING MARCH. ALTOGETHER, THE NET CHANGE IN INSTALMENT CREDIT OUTSTANDING OF ALL TYPES
CAME TO $ 1 . 5 1 BILLION, AFTER SEASONAL ADJUSTMENT, COMPARED WITH $ 1 . 1 7 BILLION IN
FEBRUARY. ON AVERAGE, INSTALMENT CREDIT OUTSTANDING EXPANDED BY $ 1 . 3 3 BILLION PER
MONTH DURING THE FIRST QUARTER, COMPARED WITH $843 MILLION THE PREVIOUS QUARTER,
AND A DECLINE OF $260 MILLION PER MONTH DURING THE RECENT LOW IN THE FIRST QUARTER OF
1975.
INSTALMENT CREDIT EXTENSIONS, AMOUNTED TO $16.32 BILLION I N MARCH, AFTER
SEASONAL ADJUSTMENT, EXCEEDING THE PREVIOUS RECORD OF $ 1 6 . 2 1 BILLION ESTABLISHED TWO
MONTHS EARLIER. HOWEVER, THE $ 1 4 . 8 1 BILLION IN CREDIT LIQUIDATIONS WAS SLIGHTLY BELOW
THE JANUARY HIGH.
AUTOMOBILE CREDIT OUTSTANDING GAINED $655 MILLION IN MARCH, UP FROM THE
$632 MILLION FEBRUARY ADVANCE, WHICH HAD MARKED THE LARGEST EXPANSION I N AUTO CREDIT
IN ALMOST THREE YEARS.
EXTENSIONS OF AUTO CREDIT REACHED A NEW HIGH, REFLECTING BOTH
THE ACCELERATING RECOVERY IN UNIT SALES AND A SHIFT TOWARD LARGER MODELS. BANK
REVOLVING CREDIT EXPANDED BY $236 MILLION, ONLY $16 MILLION BELOW THE RECORO EXPANSION
FOR THIS CREDIT TYPE RECORDED IN AUGUST 1 9 7 4 . FOR MOBILE HOMES I N MARCH, LIQUIDATIONS
AGAIN OUTPACED EXTENSIONS, BUT THE DIFFERENCE WAS NARROWED.
THE EXPANSION IN "ALL OTHER" CREDIT DURING MARCH EXCEEDED $60C MILLION, AS IN
JANUARY, FOLLOWING A CONSIDERABLY SMALLER FEBRUARY ADVANCE. "ALL OTHER" CREDIT CONSISTS
OF RETAIL STORE CREDIT AND MERCHANDISE-SECURED OR PERSONAL CASH LOANS MADE BY FINANCIAL
INSTITUTIONS.
CONSUMER INSTALMENT CREDIT
MAR. 1976
(IN MILLIONS OF DOLLARS)
1
INSTALMENT CREDIT, TOTAL
1
1
AMOUNT EXTENDED:
I
1
1
1
15,824|
16,4581
12,261|
175,681
4,5371
3111
4211
2,0461
390|
8,6131
4,378|
2821
4291
1,9311
4071
8,397|
4,9141
296|
428|
1,874|
3981
8,5481
3,568|
2531
3211
1,298|
3231
6,497|
49,073
3,403
4,614
20,729
4,372
93,488
1
{
AMOUNT LIQUIDATED:
1
1
1
1
NET CHANGE I N AMOUNT
OUTSTANDING
1
1
1,5131
AMOUNT OUTSTANDING,
END OF MONTH:
1
1
1
1
1
1
14,8051
XXXXXXX
|
1
1
14,6561
1
1
1
1
12 MONTHS
ENDING
MAR. 1976
16,3181
1
1
AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK CREDIT CARD
OTHER REVOLVING ( 1 )
ALL OTHER
1
1
1
1 MAR. 1976 I FEB. 1976 1 MAR. 1976 1 MAR. 1975 |
(NOT SEAS.ADJ.)
1
1 (SEASONALLY AD J. )
1
1
|
i
5281
1,1691
168,364
13,5951
1
1
XXXXXXX
1
1
15,9301
-1,3341
1
7,317
1
160,6211
153,3051
157,633
(2)
HOLDER SHARES OF INSTALMENT CREDIT
(IN PER CENT)
I
SHARE OF EXTENSIONS
! MONTH-END SHARE OF OUTSTANDINGS
I
(SEASONALLY ADJ.)
I
(NOT SEASONALLY ADJ.)
I MAR. 19761 FEB. 1976| MAR. 1975! MAR. 19761 FEB. 1976| MAR. 1975
I
43.51
24.51
14.6 1
15.91
1.5|
I
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS ( 3 )
OTHERS ( 4 )
I
46.81
24.11
16.21
10.61
2.31
I
I
43.81
22.6|
13.71
17.41
2.51
I
43.91
25.61
14.21
14.81
1.51
I
I
46.9 1
24.11
15.9|
10.7!
2.4|
I
47.9
24.7
14.5
10.6
2.3
INSTALMENT CREDIT FLOWS, QUARTERLY AVERAGES
(SEASONALLY ADJUSTED ANNUAL RATES)
TOTAL
INSTALMENT
CREDIT
EXTENSIONS
LIQUIDATIONS
NET CHANGE
(MILLIONS OF DOLL/iRS)
1 19761
| 1975IV
1
1
I 1975III
| 1975II
I 19751
1 19761
1
1
1
1
1
1
1
1
1
193,3901
177,484 1
15,9061
1
1
180,0151
169,8891
10,126!
1
173,2151
164,056)
9,1601
1
159,1211
160,7061
-1,5851
155,3131
158,3891
-3,0761
1
AS PER CI: NT OF DISPOSABLE
PER!>ONAL INCOME
| 1975III
| 197511
1 1975IV
1
17 .01
15 .61
1 .41
1
1
16.21
15.21
.91
1
NOTE: CONSUMER INSTALMENT CREDIT CONSISTS OF SHORT- AND INTERMEDIATE-TERM CREDIT
EXTENDED THROUGH REGULAR BUSINESS CHANNELS TO FINANCE THE PURCHASE OF GOODS
AND SERVICES FOR PERSONAL CONSUMPTION,*OR TO REFINANCE DEBTS INCURRED FOR
SUCH PURPOSES, AND SCHEDULED TO BE REPAID IN TWO OR MORE INSTALMENTS.
MORTGAGE CREDIT IS EXCLUDED.
(1)
BANK CHECK CREDIT AND OTHER BANK REVOLVING CREDIT.
(2)
ANNUAL AVERAGE.
13)
RETAIL STORES AND CATALOG ORDER.
(4)
MUTUAL SAVINGS BANKS, SAVINGS AND LOAN ASSOCIATIONS, AND AUTO DEALERS.
1
15.9|
15.11
.8 1
1
1 19751
1
14.71
14.9!
-•.11
!
15.2
15.5
-.3
CONSUMER INSTALMENT CREDIT BY HOLDER AND TYPE -
MAR.
1976
U N MILLIONS OF DOLLARS)
II
E X T E N D E D
L I
Q U 1 0 A T t D
INSTALMENT CREDIT, BY I
HOLDER AND TYPE
MAR.
1975
S.A.
I
|
1
f
12,7361
TOTAL
FEB.
1976
S.A.
I
|
|
15*824)
MAR.
1976
S.A.
|
MAR.
|
1976
I N.S.A.
)|
||
|
)
1
16,318)
16*458)
)1
1
BY HOLDER
|
5,576|
2,875|
1»744|
2,2181
324|
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS
(2)
07HERS
(3)
6,939)
4,054|
2*248)
2,347)
236|
BY CREDIT TYPE
AUTOMOBILE* TOTAL
7,102)
3,992)
2,3891
2.596)
2381
I
1
1
1
MAR.
1975
S.A.
|
J
|
FEB.
1976
S.A.
|
|
|
MAR.
1976
S.A.
)
MAR.
|
1976
I N.S.A.
1 NET 1
1 CHG |
I 1 MAR.)
) 1 1976)
| 1 S.A.I
1 (1) 1
13,216 1
14,656|
14,6051
6,168)
2,970)
1,6091
2.279)
190)
6,464)
3,856)
1,8281
2,289)
219|
6,5301
3,6901
1.8751
2,4881
2221
7,1721
4,0221
1,888)
2.6071
241)
3,812)
3,746|
3,8831
4,316| 1
2.407)
1.4211
986|
6751
696|
34|
2.2521
1.3431
909|
738|
716|
40|
2.345)
1.3611
983!
7241
7721
421
2.568)
1.5071
1.0611
877)
8271
44|
238|
87)
256|
90)
365)
204|
1 5 * 9 3 0 1 1 15131
O U T S
ENO OF
MAR.
1976
N.S.A.
T A N 0 1 N G
(CHANGE FROM END
OF MAR. 1 9 7 5
AMOUNT
PfcR
1 N.S.A.
CfcNT
7,317
4.6
75,103
38,665 1
26,025 1
16,987 1
3,641
1,696
755 1
3,798 1
699
369
2.3
2.0
14.6
4.1
9.6
654)
54,117
3,163
I
I
1
1
1
1
239!
102||
1381
2301
1921 1
-7|
30,117
17,471
12,646
13*62% 1
9,908 1
466 1
401
-369
770|
1*253
1.452
57
1.3
-2-1
6.1
9.2
14.7
12.2
2441
631
268) 1
94) 1
-141 1
-21 I
8,233
3,420 1
-514
-99
-6.2
-2.9
3721
3981
415) I
23| 1
8,267
114
1.4
209|
2121
2251 1
351 1
4,767
221
4.6
160,621
1
)
1
i
7,266)
4,0271
2,4211
2*402||
34211
I i
1
1
1
1
t
5721 I
3021 !
514| 1
1081
16|
1
II
II
3,487)
4,378|
4,5371
4,914|
1,970)
1,1021
8671
7071
7481
63|
2,545)
It377)
1,168)
9121
8811
40|
2*584|
1,4631
1,121)
954)
964|
351
2*8131
1,568|
1.2451
1.0111
1*0311
591
1
)
5.6
11
COMMERCIAL BANKS
PURCHASED PAPER
DIRECT LOANS
FINANCE COMPANIES
CREDIT UNIONS
OTHERS
(3)
MOBILE HOME
i
1
1
1
193)
86|
2111
71)
2301
811
TOTAL I
343)
429|
4211
1
175)
241)
247)
COMMERCIAL BANKS
FINANCE COMPANIES
HOME IMPROVEMENT*
I
1
COMMERCIAL BANKS
REVOLVING
BANK CREDIT CARD
BANK CHECK CREDIT
1
1
1,5141
338|
1*9311
4071
i
1
1
1
2,046|
3901
1
ALL OTHER, TOTAL
1
COMM. BANKS* TOTAL
PERSONAL LOANS
FINANCE C O S . , TOTAL
PERSONAL LOANS
CREDIT UNIONS
RETAILERS
OTHERS
(1)
(2)
(3)
1
1
1
i
1
1
1
6,7751
1,3871
982|
2,0621
1,3331
962)
2*218)
1471
8,397)
1,604)
1*139|
3,0411
1,916)
1*319|
2,347)
86|
8,613)
)
1 ,, 1
63
05
5 |)
1
2,941)
1,8011
1*376|
2,5961
93)
i
1
•
2221
741 1
1
428 1 1
1
235) 1
i
i
1
I
1.8741
3981
I
1
8*548|
1,517)
339|
1.7981
3881
1.6221
378)
2,0201 1
434| 1
224)
12 1
B,B<»2
2,876
916
102
10.4
3.5
6,8571
8,0051
7,998)
8,364| 1
615|
74,868
3,635
4.9
1.7241
1*2021 1
2,9251 1
1.7741 1
1,338) 1
2,402 1 1
1591
1.461)
1,0421
2,1681
1.319)
8831
2,279)
66)
1*561)
1*106|
2*992)
1*8021
1.077)
2*2891
86)
1,5301
1*0931
2,824|
1,724 1
1,069 1
2*4861
86 |
1,6561
1,178)
2,999)
1,8041
1*025|
2,6071
951
751
421
1171 1
771
3071
1081 1
7) 1
20,270
14,034
21,078
16,922 1
15,333 1
16*987 I
1**00 1
1
NET CHANGES FOR ALL MONTHS EQUAL EXTENSIONS MINUS LIQUIDATIONS (REPAYMENTS,
EXCLUDES 30-DAY CHARGE CREDIT HELD BY RETAILERS, OIL AND GAS COMPANIES, AND
AMOUNTING TO $2083 MILLION AT THE END OF MARCH. THIS REPRESENTS A DECREASE
FEBRUARY ON A SEASONALLY ADJUSTED BASIS ANO A DECREASE OF 169 MILLION ON AN
MUTUAL SAVINGS BANKS, SAVINGS AND LOAN ASSOCIATIONS, AND AUTO DEALERS.
NOTE:
S.A.
CHARGEOFFS, AND OTHER C R E D I T S ) .
TRAVEL AND ENTERTAINMENT COMPANIES
OF % H 6 MILLION FROM THE END OF
UNADJUSTED BASIS.
AND N . S . A . DENOTE SEASONALLY ADJUSTED ANO NOT SEASONALLY ADJUSTED DATA,
1
1
1
)
1
1
1
RESPECTIVELY.
570
5311
-39
232
2,231
699
174
2.8
3.8
-.2
1.4
14.6
4.1
14.5
@FedFRASER