Full text of G.19 Consumer Credit : April 12, 1985

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FEDERAL RESERVE statistical release
G. 19

For immediate release
April 12, 1985
CONSUMER INSTALLMENT CREDIT

Consumer installment credit outstanding rose by $10.4 b i l l i o n in February,
seasonally adjusted, following increases of $7.2 b i l l i o n in January and $6.8 b i l l i o n in
December 1984. The annual rate of growth in February was 27.1 percent, compared with
19.2 percent in January and 17.1 percent during the fourth quarter of 1984. The February
growth rate was f r a c t i o n a l l y lower than the record 27.3 percent figure in May 1984.
Automobile installment c r e d i t advanced $3.8 b i l l i o n in February, on a
seasonally adjusted b a s i s , up from the $2.9 b i l l i o n r i s e in January.
Revolving credit
outstanding increased $2.5 b i l l i o n a f t e r gaining $2.0 b i l l i o n in January. The remaining
two credit c a t e g o r i e s grew by $4.0 b i l l i o n , well above the $2.4 b i l l i o n r i s e in January.
FLOWS OF CREE)IT
M i l l i o n s of d o l l a r s
(seasonally adjusted)

Net: Change in
Amount: O u t s t a n d i n g
198!

Total
Automobile
Revolving
Mobile home
Other 1 /

1984
Jan.

Feb.

10,373
3,837
2,527
296
3,713

Annual Rate of Growth
(percent)

7,223
2,887
1,957
-159
2,538

Dec.

6,,819
2, ,687
,445
117
2,,570

Feb.

Jan.

Dec.

27.1
26.3
31.3
14.6
27.3

19.2
20.1
24.7
-7.8
19.0

18.4
19.0
18.5
5.7
19.5

1984

1985
TERMS OF CREDIT
(not s e a s o n a l l y a d j u s t e d )
Interest rates 2/
Commercial banks 3 /
48-mo. new-car l o a n
24-mo. p e r s o n a l l o a n
120-mo. mobile home l o a n
C r e d i t card plan
Auto f i n a n c e companies 4 /
New-car l o a n
U s e d - c a r loan

Other terms at
auto finance companies 4/
Maturity (months)
New-car loan
Used-car loan
Loan-to-value r a t i o (%)
New-car loan
Used-car loan
Amount financed
($)
New-car loan
Used-car loan




Feb.

1984

1985

Jan •

Dec.

Nov.%

Feb.

13.37
16.21
15.42
18.85

n.a.
n.a •
n.a.
n.a •

n.a.
n.a.
n.a.
n.a.

13.91
16.63
15.60
18.82

13.32
16.16
15.45
18.73

13.78
17.91

15.11
17.88

15.24
18.34

15.24
18.30

14.11
17.59

51.4
41.1

50.7
41.3

50.2
39.8

50.0
39.9

46.4
39.4

90
93

90
93

89
93

89
93

87
91

9,196
5,968

9,654
5,951

9,707
5,975

9,577
5,900

9,072
5,418

CONSUMER INSTALMENT CREDIT BY HOLDER AND TYPE
(Millions of d o l l a r s except as noted)

Installment c r e d i t
holder and type

Net change during
Feb.
Jan.
Feb.
1985
1984
1985

Change from end of
Feb. 1984
amount
percent

&• A.

o . A.

10,373

7,223

3,410

469,968

464,940

386,796

78,144

20.2

5,071
1,203
2,755
269
997
-102
180

3,799
901
1,290
251
922
-91
151

1,827
628
1,713
-1,495
885
-317
169

217,575
98,659
71,465
37,667
31,682
4,214
8,706

215,778
97,360
70,251
37,483
31,405
4,012
8,651

175,941
87,227
54,851
34,744
23,074
4,02 5
6,934

39,837
10,133
15,400
2,739
8,331
-13
1,717

22.6
11.6
28.1
7.9
36.1
-0.3
24.8

Automobile
Commercial banks
Finance companies
Credit unions

3,837
1,790
712
1,335

2,887
1,616
673
598

2,350
1,110
420
820

179,185
88,487
56,516
34,182

176,119
87,333
55,185
33,601

147,143
71,327
49,582
26,234

28,976
16,006
5,603
7,367

19.7
22.4
11.3
28.1

Revolving
Commercial banks
Retailers 5/
Gasoline companies

2,527
2,429
200
-102

1,957
1,809
239
-91

-1,249
533
-1,465
-317

99,424
61,717
33,493
4,214

99,316
61,978
33,326
4,012

78,501
43,506
30,970
4,025

20,815
18,472
2,356
-13

26.5
42.5
7.6
-0.3

296
41
33
192
30

-159
-89
-144
60
14

112
-42
-9
145
18

24,689
9,562
9,169
5,202
756

24,393
9,456
9,044
5,150
743

23,657
9,663
9,519
3,894
581

736
-207
-475
1,256
162

3.1
-2.1
-5.0
32.3
27.9

3,713
811
458
1,390
69
805
180

2,538
463
372
678
12
862
151

2,197
226
217
875
-30
740
169

166,670
57,809
32,974
36,527
4,174
26,480
8,706

165,112
57,011
33,131
35,907
4,157
26,255
8,651

137,495
51,445
28,126
28,036
3,774
19,180
6,934

27,617
5,566
5,005
7,871
383
7,075
1,717

20.1
10.8
17.8
28.1
9.1
36.9
24.8

Total

N.O.A.

Outstanding a t end of
Feb.
Feb.
Feb.
1985
1985
1984
S.A.
N.S.A.
N. S.A.

By major holder

Commercial banks
Finance companies 1/
Credit unions
Retailers 5/
Savings and loans
Gasoline companies
Mutual savings banks
By major c r e d i t type

Mobile home
Commercial banks
Finance companies
Savings and loans
Credit unions
Other
Commercial banks
Finance companies 1/
Credit unions
Retailers
Savings and loans
Mutual savings banks

1. Loans secured by real e s t a t e at finance companies —excluded from the s e r i e s — are estimated
for February 1985 as $26.5 b i l l i o n , seasonally adjusted, and $26.9 b i l l i o n , not seasonally adjusted.
2. Interest r a t e s are annual percentage r a t e s as s p e c i f i e d by Regulation Z.
3. Commercial bank data are simple unweighted averages of each bank's "most common" r a t e charged
during the f i r s t calendar week of the month.
4. Finance company data from the subsidiaries of the three major U.S. automobile manufacturers
are volume-weigh ted averages covering a l l loans of each type purchased during the month.
5. Includes auto dealers and excludes 30-day charge c r e d i t held by t r a v e l and entertainment
companies•
n.a. 8 8 Data not a v a i l a b l e .
S.A. * Seasonally adjusted.
N. S.A. » Not seasonally adjusted.
NOTE: The Board's s e r i e s on amounts of c r e d i t covers most short- and Intermed!ate-term credit
extended to individuals through regular business channels, u s u a l l y to finance the purchase
of consumer goods and s e r v i c e s or to refinance debts incurred for such purposes, and scheduled to
be repaid (or with the option of repayment) in two or more i n s t a l l m e n t s .
The G. 19 S t a t i s t i c a l Release i s issued about the middle of each month. The exact date and time
of each monthlly r e l e a s e w i l l be announced, when the information i s a v a i l a b l e , on (202) 452-3206.