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FEDERAL

xtS .

RESERVE

s t a t i s t i c a l

"

r e l e a s e

G.18

January 7, 1971
CONSUMER INSTALMENT CREDIT AT COMMERCIAL BANKS

-

NOVEMBER 1970
Consumer instalment credit outstanding at commercial banks was reduced by
$270 million in November. The reduction was centered in automobile credit, affected
for the second consecutive month by work stoppages. The decline was especially, marked
in purchased automobile paper which also fell below the amount outstanding a year
earlier. All other major types of credit shared, in the $1,693 million increase over
the year-period.
•
'
The volume of instalment loans made in November was $416 million below the
October total with more than half of the decline in automobile loans. Other types oi
credit, which usually show some contraction at.this time of year, were in somewhat
smaller volume than in October but were above extensions in the .corresponding month
of 1969.
.
.'
Consumer Instalment Credit at Commercial Banks
(Estimates, in millions of dollars)

Type of credit
Automobile paper, total

Amounts outstanding
Change from:
Month Year
ago
ago

Nov. 30,
1970

Volume extended
Change • from;
Year
Month
1970
ago
ago

20,282

Total

-219 1,183

-258

-181

—•-196
76

-255
+ 36

718
465

-162
- 96

-106
- 75

2,859
5,440
2,779
1,11-8
9,262

+ 44
- 31
- 6
+ 3
- 8

+848
+351
1,'
. +167
+546

459
315
110
126
692

-

41,740

Other consumer goods: Credit cards
Other
Home repair and modernization loans
Personal loans: Check-credit
Other

--272

12,628
7,654

Purchased
Direct

-270

+1,693 2 , 8 8 5

+124
28
+ 47 41
+ 14
16
13 - + 7
+ 29
60

-416

+ 40

- 7
+ 48 - 2
+ 3
+ 7
- .4

Federal Reserve District:
Boston
New York
.Philadelphia
Cleveland
Richmond
Atlanta

1,802
5,706
2,581
3,403
3,829
4,203

-

22
26
25
25
3
17

+ 28
+568
+ 96
+266
+258
+279

125
412
161
215
273
293

-

Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco

5,836
2,066
1,370
2,243
2,476
6,225

-

71
12
5
18
18
28

+ 12
+132
' +.31
+ 2..
7.
- 87
+ 83

358
139
96
164
154
495

- 73
- 32
+ 1
- 18
- 20
-41

-

1/Less FRASER
Digitized forthan 0.5 million.


18
65
1942
46
43

- 55
+ 5
. + 3
+ 26
- 35
+ 51

.