Full text of G.19 Consumer Credit : April 5, 1977
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FEDERAL RESERVE statistical release •?^P? G.19 FOR IMMEDIATE RELEASE APRIL 5 , 1977 CONSUMER INSTALMENT CREDIT - FEBRUARY 1977 CONSUMER INSTALMENT CREDIT OUTSTANDING EXPANDED IN FEBRUARY BY $2*02 BILLION, SEASONALLY ADJUSTED* UP FROM JANUARY'S $1.92 BILLION INCREASE- THE FEBRUARY ADVANCE WAS THE SECOND LARGEST ON RECORD, EXCEEDED ONLY BY A $2.09 BILLION INCREASE IN FEBRUARY, 1973. CREDIT NEWLY EXTENDED REACHED A NEW HIGH AT $17.19 BILLION, AND LIQUIDATIONS OF EXISTING DEBT ALSO POSTED A RECORD AT $15.16 BILLION. AUTOMOBILE CREDIT ACCELERATED IN FEBRUARY, REVERSING A JANUARY SLOWDOWN. AUTO CREDIT EXTENDED, AFTER SEASONAL ADJUSTMENT* ROSE 5 PER CENT* TO $5.21 BILLION, WHILE LIQUIDATIONS ROSE 3 PER CENT, TO $4.32 BILLION, RESULTING IN THE LARGER NET CHANGE OF $884 MILLION. BANK-CARD CREOIT INCREASED SHARPLY DURING FEBRUARY—UP $170 MILLION—AS BANK-CARD EXTENSIONS REACHED A NEW HIGH AT $2.33 BILLION. STRONG GROWTH WAS ALSO RECORDED IN THE LARGE "ALL OTHER" CATEGORY, ALTHOUGH THE $931 MILLION INCREASE IN OUTSTANDINGS WAS SMALLER THAN IN THE PRECEDING MONTH. THE NET GAIN IN HOME IMPROVEMENT CREDIT WAS ALSO SMALLER IN FEBRUARY, WHILE MOBILE HOME CREDIT OUTSTANDING CONTINUED TO CONTRACT. (IN MILLIONS OF DOLLARS) INSTALMENT CREDIT* TOTAL ! FEB. 1977 1 JAN. 1977 f FEB. 1977 | FEB. 1976 (LATEST 12 MONTHS (SEASONALLY ADJ.! KNOT SEAS.ADJ.) (NOT SEAS.ADJ.) 9 AMOUNT EXTENDED: I AUTOMOBILE MOBILE HOME HOME IMPROVEMENT BANK CREDIT CARD OTHER REVOLVING (1) ALL OTHER AMOUNT LIQUIDATED NET CHANGE IN AMOUNT OUTSTANDING: AUTOMOBILE MOBILE HOME HOME IMPROVEMENT BANK CREOIT CARD OTHER REVOLVING (1) ALL OTHER AMOUNT OUTSTANDING, END OF MONTH 1 1 17,1861 | 5,2051 260| 4571 2,3321 4481 8,4841 1 1 1 1 1 I 1 15*1641 i t 1 1 K 1 1 1 1 1 1 1 1 1 2*0221 1 8841 -691 731 1701 321 9311 1 1 1 1 1 1 (2) 16*8701 14*278| I 1 4,9401 245| 4941 2,1171 4621 8*6121 ? ? 14*9521 1 14*0011 1 (2) 1 • 1 1 4*4061 2041 3641 1*885? 4061 7*0121 1 1 1*91B| » 7581 -611 1301 281 411 1*023| 12*5761 3*8661 2121 3181 1*6311 3561 6,1931 1 1 12*9971 » 1 1 2771 1 4241 -93? 14| -1761 91 99| » » 178*2521 ? -4211 1 * 2121 -100» -31 -1681 » -363? 1 1 160*4021 189*468 56,577 3,106 5,107 25,844 4,957 93,877 171,620 17,848 (3) (4) (4) (4) (4) 14) (4) 12! NOTES 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 OEBTS INCURRED FOR SUCH PURPOSES, AND SCHEDULEO TO BE REPAID IN TWO OR MORE INSTALMENTS. MORTGAGE CREOIT GENERALLY IS EXCLUDED. DETAILS MAY NOT ADD TO TOTALS OUE TO ROUNDING. (1) BANK CHECK CREDIT ANO OTHER BANK REVOLVING CREDIT. (2) NOT APPLICABLE. (3) A VALUE FOR THE UNADJUSTED NET CHANGE IN OUTSTANDINGS APPEARS ALSO ON THE NEXT TO LAST COLUMN ON THE NEXT PAGE, BUT MAY VARY SLIGHTLY, OUE TO DIFFERENT AGGREGATION METHODS. (4) FOR VALUES SEE THE NEXT TO LAST COLUMN ON THE NEXT PAGE UNDER THE HEADING •CHANGE FROM END OF FEBRUARY 1976 AMOUNT N.S.A.* * LESS THAN $0.5 MILLION* OR LESS THAN 0.05 PERCENT* AS APPLICABLE. CONSUMER INSTALMENT CREDIT BY HOLDER AND TYPE - FEB. 1977 ( I N MILLIONS OF DOLLARS) L I I E X T E N D E D Q U I D A T E D INSTALMENT CREDIT, BY 1 1 1 HOLDER AND TYPE FEB. 1977 S.A. ! 1 1 JAN. 1977 S.A. | | | FEB. 1976 S.A. 1 FEB. 11 1 1977 I i 1 N.S.A. | FEB. 1977 S.A. | 1 1 JAN. 1977 S.A. I ! 1 FEB. 1976 S.A. 1 17,1B6 1 TOTAL 16,8701 15,045 I 14,2781 15,1641 14,9521 11 1 I FEB. 11 1977 II 1 N.S.A. I 1 1 13,923 1 NET I » 0 U T S T A N 0 I N 6 CHG I F E B . ! 1 END OF CHANGE FROM END 19771 1 FEB. 1 OF FEB. 1976 1977 1 AMOUNT 1 PER S.A.I 1 ! N . S . A . 1 CENT CD 11 N.S.A. 14,00111 20221I 178,252 I 17,650 1 11.1 1 » ! { BY HOLDER ! 1 1 I 1 COMMERCIAL BANKS FINANCE COMPANIES CREDIT UNIONS RETAILERS (2) OTHERS (3) 8,055 3,437 2,743 1 2,603 1 347 1 7,5461 3,4311 2,663! 2,7751 4361 7,196 3,018 2,248 2,347 236 I 1 1 1 6,7371 2,789! 1 2,222! 1 2,067! 463! 7,2271 2,9951 2,2031 2,4851 2541 6,9811 2,949! 2,2671 2,5261 2281 1 6,729 I 2,658 1 1,628 1 2,289 219 6,78311 2 , 6 2 3 11 1,93111 2,438! 1 2261 1 829| I 4421 I 540|I 1181 I 931 1 85,005 I 39,8311 3 0 , 7 0 11 18,322 1 4,393 I 3,909 3,9621 1 8841 1 60,774 7,730 14.6 2,370 1,399 970 7831 716 40 2,395| 1 1,3111 1 1,0641 1 7461 1 799| 1 421 1 504|I 239|I 2651 1 1611 I 2131 1 6| 1 35,492 ! 19,640 1 15,852 1 13,042 11,690 I 550 1 4,170 1,505 2,665 1,463 1,986 111 13.3 6.3 20.2 12.6 20.5 25.3 264 89 217! 1 80| 1 -26|1 -4311 8,094 3,207 -4361 -1771 -5.1 -5.2 7,046 3,373 5,209 1,553 667 9.0 9.3 20.4 9.3 17.9 f BY CREDIT TYPE » 1 5,205 AUTOMOBILE* TOTAL -.—, • . • , - . . - , , . „ • . 4,9401 4,523 4,406! 1 4,3201 ——» 3,075 1,641 1 1,435 1 999 1,075 55 1 COMMERCIAL BANKS INDIRECT PAPER DIRECT LOANS FINANCE COMPANIES CREDIT UNIONS OTHERS (3) 2,6921 i,544| 1,3491 9641 974| 110| 2,672 1,435 1,238 t 930 861 40 2,602! 1,3851 1 1,217! 815| 9101 79! 2,5711 1,402) 1,1691 8381 8621 491 4,1831 ! 2,474| 1,384! 1,090| 866! 8001 431 1 » 1 MOBILE HOME COMMERCIAL BANKS FINANCE COMPANIES HOME IMPROVEMENT, TOTAL 207 52 195| 501 211 55 1651 39! 2331 96| 236! 67! 457 494| 405 364| 385! 3641 348 350| 1 731 1 8,750 I 777i 9.7 237! 2271 216 2151 1 14|I 5,307 1 4001 8.2 251 COMMERCIAL BANKS 262! 244 162! BANK CREDIT CARD BANK CHECK CREDIT ALL OTHER, TOTAL COMM. BANKS, TOTAL PERSONAL LOANS FINANCE C O S . , TOTAL PERSONAL LOANS CREDIT UNIONS RETAILERS OTHERS (3) » 1 » | REVOLVING (1) (2) 1 ! 1 1 1 2,332 44B 2,1171 4621 2,012 392 1,685! 406| 2,1611 4161 2,089! 4211 1,881 3741 2,0611 1 3971 1 1701 1 321 1 10,820 3,039 1,413 236 15.0 8.4 8,484 6,6121 7,447 7,012| 7,5531 7,590! 7,058 6,9131 ! 9 3 1 11 83,568 8,309 11.0 1,625 1,1S1| 1,9811 1,5561 1,077! 2,2891 86| 1,4971 1 1,0841 1 1,7941 I 1,478! 1 1,0951 1 2,438! ! 89| ! 134|I 114| ! 3201 1 1291 I 3121 ! 118! 1 46|I 22,253 15,5901 23,454 18,998 1 18,086 1 1 6 , 3 2 2 11 1,4531 1,267 1,0411 2,106 1,498! 3,0661 1,5531 3171 6.0 7.2 9.9 8.6 20.4 9.3 27.9 1,742 1,2811 2,3791 1,843 1,6121 2,6031 1491 1,618! 1,2131 2,413! 1,787! 1,6561 2,7751 1511 1,665 1,1791 2,030! 1,685! 1»319| 2,3471 66| I,4961 lti06!1 I,929| 1,474) 1,266» 2,06711 254|| 1,6081 1,1671 2,0591 1,714| 1,3001 2,4851 101! j ! 1,533! 1,1111 2,012! 1,608! 1,4291 2,5261 90| NET CHANGES FOR ALL MONTHS EQUAL EXTENSIONS MINUS LIQUIDATIONS (REPAYMENTS, CHARGE0FFS, AND OTHER C R E D I T S ) . EXCLUDES 30-OAY CHARGfc CREDIT HELD BY RETAILERS, OIL AND GAS COMPANIES, ANO TRAVEL ANO ENTERTAINMENT COMPANIES AMOUNTING TO $2239 MILLION AT THE END OF FEBRUARY. THIS REPRESENTS AN INCREASE OF $ 3 1 MILLION FROM THE ENO OF JANUARY ON A SEASONALLY ADJUSTED BASIS ANO A DECREASE OF $70 MILLION ON AN UNADJUSTED B A S I S . MUTUAL SAVINGS BANKS, SAVINGS AND LOAN ASSOCIATIONS, ANO AUTO DEALERS. NOTE: S.A. AND N . S . A . DENOTE SEASONALLY ADJUSTEO ANO NOT SEASONALLY ADJUSTED OATA, RESPECTIVELY.