Full text of G.19 Consumer Credit : September 10, 1979

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FEDERAL RESERVE
C.19 (421)

statistical release

FOR IMMEDIATE RELEASE
SEPTEMBER 10, 1979

CONSUMER INSTALLMENT CREDIT - JULY 1979
THE GROWTH IN CONSUMER INSTALLMENT DEBT OUTSTANDING SLOWED IN JULY FOR THE
THIRD CONSECUTIVE MONTH. THE ANNUAL RATE OF GROWTH DECLINED FROM A REVISED 11 PER CENT
IN JUNE TO 10 PER CENT IN JULY—THE LOWEST SINCE JULY 1976.
EXTENSIONS OF CREDIT ANO LIQUIDATIONS OF EXISTING DEBT BOTH ROSE IN JULY,
WITH SEASONALLY ADJUSTED EXTENSIONS, AT $26.8 BILLION, UP $709 MILLION FROM JUNE,
AND LIQUIDATIONS AT $24.4 BILLION, UP $824 MILLION FROM JUNE. NET GROWTH IN
OUTSTANDINGS DURING JULY SLOWED NOTICEABLY FOR REVOLVING CREDIT, AND ALSO FOR
AUTO CREDIT AND MOBILE HOME CREDIT. BY CONTRAST, GROWTH INCREASED IN THE LARGE
"OTHER" CATEGORY—WHICH INCLUDES PERSONAL CASH LOANS AND NON-AUTOMOTIVE DURABLE GOODS
CREDIT—AS EXTENSIONS ROSE MORE THAN LIQUIDATIONS.
(IN MILLIONS OF DOLLARS)
INSTALLMENT CREDIT

JULY 1979 | JUNE 1979 I JULY 1979 | JULY 1978 J LATEST 12 MONTHS
(SEASONALLY ADJ.) R I
(NOT SEAS.ADJ.)
KNOT S E A S . A D J . ) R

I-

AMOUNT EXTENDED:
AUTOMOBILE
REVOLVING (1)
MOBILE HOME
OTHER
AMOUNT LIQUIDATED
NET CHANGE IN AMOUNT
OUTSTANDING:
AUTOMOBILE
REVOLVING (1)
MOBILE HOME
OTHER
AMOUNT OUTSTANDING,
END OF MONTH

26,848J

26,1391

27,7021

25,2661

I

I

I

I

7,4471
9,8561
519|
9,0261

I
I
24,4051

I
I

7,1781
10,136|
5471
8,2781

I
I
23,5811

I
I

7,9221
8,4571
5681
8,319|

I
I

21,2341

274,073
41,162

24,5061

I
I

2,5581

I
I

I

I

3,1961

4,032]

616|
429|
721
1.3261

6901
796|
1021
970|

I

I

1,022|
4361
1121
1,6261

2,0281
5521
1311
1.3211

(21

I
II

(2)

I
I
I

92,263
113,381
6,220
103,371

7,8901
9,7791
574|
9,4591

I
I

2,4431

315,235

I
I

I
I

(4)
(4)
(4)
141
(2)

295,0521
253,8971
EXTENDED
NOTE: THE BOARD S SERIES COVERS MOST SHORT- AND INTERMEDIATE-TERM CREOIT
TO INDIVIDUALS 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)
IN TWO OR MORE INSTALLMENTS. DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING.
CREDIT CARDS AT RETAILERS, GASOLINE COMPANIES AND COMMERCIAL BANKS, AND
(1)
CHECK CREDIT AT COMMERCIAL BANKS.
NOT APPLICABLE OR NOT AVAILABLE.
(2)
A VALUE FOR THE UNADJUSTED NET CHANGE IN OUTSTANDINGS APPEARS ALSO ON THE NEXT
(3)
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
(4)
"CHANGE FROM END OF JULY 1978 AMOUNT N.S.A."
DATA FOR COMMERCIAL BANKS, AND FINANCE COMPANIES AND TOTALS ARE REVISED FOR JUNE.
1

(3)

CONSUMER INSTALLMENT CREDIT BY HOLDER AND TYPE UN

MILLIONS OF DOLLARS!

1
I
1

HOLDER AND TYPE

1
I

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

JULY
1979
S.A.

|
|
|

JUNE Rl
1979
I
S.A.
I

1

J

26,8481

26,139|

1
1
1
1

1
1
1
1

1
1
I
1

1
1
1

12,2921
5,3531
3,2821
3,6871
5921
lt525|
1171
1
I

12,2781
4,6411
2,9861
3,853|
6821
1,589|
1101
1

1

AUTOMOBILE

1
1
7,447|

COMMERCIAL BANKS
INDIRECT PAPER
DIRECT LOANS
CREDIT UNIONS
FINANCE COMPANIES

i

3,9361
2,1511
1,7851
1.6111
1,9001

3,952|
2,146J
1,806|
1.4851
1.7411

1
COMMERCIAL BANKS
RETAILERS
GASOLINE COMPANIES

1
1

5,0781
3,253|
lt525|

!

5191

i

MOBILE HOME
COMMERCIAL BANKS
FINANCE COMPANIES
SAVINGS ANO LOANS
CREDIT UNIONS
OTHER

1
1
1
i

j

2971
711
1331
181
1
9,0261

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

1
1
1
1
1

7,178|

i

9,8561

REVOLVING

1
1

2,9811
3,3821
lt653|
4341
4591
1171

1
10,1361

1
5,1661
3,38l|
1.5891

JULY
1978
S.A.

I
JULY
I
1979
I N.S.A.

|1
|1
I1

3041
591
1671
171

JULY
1979
S.A.

1
|
I

Q U I D A T E D
1
JULY
|
1979
I N.S.A.

1
1
11
J1
11
1

NET 1 1 0 U T S T A N D I N G
CHG I
JULYl 1 END OF ICHANGE FROM END
JULY
1 OF JULY 1 9 7 8
19791 1
1979
AMOUNT|
PERS.A.I 1
CENT
11) 1 1 N . S . A . 1 N . S . A . 1

JUNE R i
1979
j
S.A.
1

JULY
1978
S.A.

23,5811

21,5561

24,5061 1 24431 1 2 9 5 , 0 5 2 1 4 1 , 1 5 5 1

16.2

11.2941
3,728|
2,8421
3,5651
4421
1,5501
1601

10,0871
3,590|
2,7581
3.3331
3171
1.3181
1531

11,7201
4,1411
2,9761
3,5161
4761
1,5111
1661

14.7
26.2
12.8
8.6
20.9
17.0
5.9

1

1

Z59QZZ 1

27,7021 1

24,4051

1
1
1
1

1
1
1
1

1
I
1
1
1
1
1

12,8541 1
5,6081 1
3,2701 1
3t557| 1
6111 1
1,6791 1
1231 1

11,6301
4,1681
2,9401
3,5071
4721
1.5231
1651

j
1
1

|
1
1

7,652 1

7,8901 1

6,8311

6,4881

5,9411

6,8681 1

616|1

1
1
1
1
1

3,8641
2,1001
1,7641
1,4281
1,539|

3,8291
2,0591
1,7701
1,4401
1,219|

3,5981
1,9281
1,6701
1,3541
989|

3,9561
2,151|
1.8051
1.4511
1.4611

1
1
1
1
1

721 1
511 1
211 1
1831 1
3611 1

64,826
36,475
28,351
22,844i
24,282

7,755
4,568 1
3,187 1
2,590
6,318

13.6
14.3
12.7
12.8
35.2

12,187
4,261
3,271
3,477
327
1,299
200

1

1

1
6621 1 1 4 5 , 1 6 9 1 1 8 , 5 5 0 1
1 11851 1
6 2 , 4 6 3 1 1 2 , 9 6 11
1
342J 1
47,772 1
5,4171
1
1301 1
23,713
1,885
1
120| 1
9,4251
1,632 1
1
2| 1
3,8721
563 1
1 ~48| 1
2,638
147 1

111,952

16,663

4,3021
2,3751
1,9271
1.5921
1,9961

j

|

8,700

9,7791 1

9,4271

9,3401

8,1001

9,3431 1

42911

47,894

7,341

18.1

4,320
3,081
1,299

5,0031 1
3,0971 1
1.6791 1

4,7751
3,1291
1.5231

4,6721
3,1181
1,5501

3,8221
2,9601
1.3181

4,7281 1
3,1041 1
1.5111 1

3031\
1241 1
21 1

25,927
18,095
3,872

5,361
1,417
563

26.1
8.5
17.0

509

5741 1
1
3321 1
841 1
1401 1
181 1

4471
1
2801
601
921
151

4451

4261

4621 1

721 1

16,719

1,056

6.7

2921
451
93|
151

2701
67|
76|
131

2901
631
94|
151

171 1
111 1
411 1
3| 1

9,801
3.2121
3,198
508

318
1271
554
57

3.4
4.1
21.0
12.6

9,4591 1

7,7001

7,3081

7.0891

1

1

7 , 8 3 3 1 1 132611

118,4871

16,0951

15.7

1
1
1
1
1
1

2,7111
2,5*<M
1.4971
378|
3801
1651

2,5011
2,4641
1*3871
4471
3491
1601

2.3971
2,5341
1.3911
3731
2411
1531

2,7461
2,6171
1.5101
4121
3821
1661

44,615
34,9691
24,4201
5,6161
6,2271
2,6381

5,1161
6,5161
2,7701
4681
1,0781
1471

13.0
22.9
12.8
9.1
20.9
5.9

1

1

3351
781
78
18

|

i

8,2781
j

8,161

2,8561
2,8411
1,4841
4721
5151
1101

2,893
2,7991
1.6241
3961
249|
2001

3,2171
3,5281
1,6601
4601
4711
1231

1

1

|

1
1
1
1

1
1
1
1
1
1

2701 t
8131 1
1561 1
5611
791 1
-4811

NET CHANGES FOR ALL MONTHS EQUAL EXTENSIONS MlhJUS L I Q U I D ATIONS (REPAYMENTS. CHARGEOFFS, AND OTHER C R E D I T S ) •
INCLUDES AUTO DEALEflIS AND EXCLUDES 30-DAY CHARC;E CREDIT HELD BY RETAILERS AND BY TRAVEL AND ENTERTAINMENT COMf • A N I E S .

NOTES

S.A. AND N.S.A. DENOTE SEASONALLY ADJUSTED AND NOT SEASONALLY ADJUSTED DATA, RESPECTIVELY.
DETAILS MAY NOT ADD TO TOTALS DUE TO POUNDING.
DATA FOR COMMERCIAL BANKS, ANO FINANCE COMPANIES AND TOTALS ARE REVISED FOR JUNE.




17.5

4,639
2,554
2,085
1.6291
1,384

i

5471
1

L I

1

E X T E N D E D
INSTALLMENT CREDIT BY

JULY 1979