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f 7

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
1

G.lB

.

1

March 4 , i960

CONSUMER INSTALMENT CREDIT AT COMMERCIAL BANKS
JANUARY I960
Consumer i n s t a l m e n t c r e d i t held "by commercial b,anks a t
t h e end of January amounted to $15,066 m i l l i o n , $144 m i l l i o n more
than a month e a r l i e r . 1 A l l types of c r e d i t except r e p a i r and mode r n i z a t i o n shared i n t h e monthly i n c r e a s e , "but most of t h e expansion o c c u r r e d i n o t h e r consumer goods p a p e r . The i n c r e a s e i n the
l a t t e r r e f l e c t e d i n p a r t , l a r g e purchases of paper from r e t a i l
outlets.
Extensions of c r e d i t during January were $79 m i l l i o n
s m a l l e r than i n December. I n c r e a s e s i n automobile c r e d i t e x t e n s i o n s were more than o f f s e t by d e c l i n e s -in t h e o t h e r c a t e g o r i e s .
Consumer I n s t a l m e n t C r e d i t a t Commercial Banks
(Estimates. I n millions o f . d o l l a r s ) .
Volume extended
Change from:
Month Year.
I960
ago
ago

Amounts o u t s t a n d i n g ' -.
Change from:
Month|j Year
J a n . 30
|
ago
ago j
I960

Type of c r e d i t

Automobile paper
Purchased
Direct
Other consumer goods paper *
Repair and modernization l o a n s
Personal loans

+
+
+
+
+

15 s 066

+144

+2 158

742
2 463
977

T o t a l it-

- 5
'+ 11
+136
- 9
+ 11

+ 2
. + 23
+ 1

380
224
285 . - 8
89
368

+12

1,146

z!2

+23

64
231
83

- 6
+ 1
- 9

- - 1
+25
+ 2

86
94
' 130

- 2

- 6
- 2
+11

204
52
48

+ 1

:2.

+ 1
- 4
- 5

68
82
204

- 5
- 7
-27

- 1
+ 5
- 2

+
80
+ 301
+ . 114

4,793
2 522
2,689.
1,932^
3,130

750
327
370
226
485

%

+ 5
- 2
+11

F e d e r a l Reserve D i s t r i c t :
Boston
New York
Philadelphia

1 Oil
1,060
1,237

. Cleveland
V Ri chmond
Atlanta
Chicago
S t . Louis
Minneapolis
Kansas C i t y
Dallas
San Francisco

x

+
+
+

3 + 127
6 + 157
6 + =170

+ 51 +
2 209
648 7 - 3 +
+ 1 +
555,

390
66
95

+
+
+

115
85
458

768
814 .
2,582

- 2
+ 6
+ 50

:

'

from l a r g e t r a n s f e r s of o t h e r consumer goods p a p e r . 'As a r e s u l t , the d i f f e r -

ence between e x t e n s i o n s and repayments does n o t equal the change i n o u t s t a n d i n g

credit.
^