Full text of G.19 Consumer Credit : April 5, 1996
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FEDERAL RESERVE statistical release WEES*? G.19 CONSUMER INSTALLMENT CREDIT For release at 3 p.m. (Eastern Time) February 1996 April 5,1996 Consumer installment credit outstanding increased at a 13.9 percent seasonally adjusted annual rate in February. Growth was strongest in the revolving credit category, which grew at a 19.0 percent pace, while auto and 'other' credit expanded at a little more than halt that pace. CONSUMER INSTALLMENT CREDIT OUTSTANDING1 Seasonally adjusted 1995 Feb. Percent change at annual rate Total Automobile Revolving Other3 Mar. Apr. May June July 1996 Aug. Sept. Oct. Nov. Dec. Jan/ Feb.P 2 Amount: billions of dollars Total Automobile Revolving Other3 5.9 6.3 17.3 -9.8 18.4 8.4 22.5 25.4 17.2 10.7 24.6 15.2 16.3 6.8 24.6 16.6 14.4 9.9 20.5 11.4 10.8 23.3 9.4 -2.6 12.6 9.4 14.1 14.7 5.0 4.9 7.7 1.5 13.7 12.4 16.0 12.1 11.8 15.6 9.1 10.7 11.6 14.4 15.7 2.1 12.7 10.0 17.0 10.2 13.9 10.3 19.0 11.3 918.9 321.0 345.1 252.8 933.0 323.3 351.5 258.2 946.3 326.2 358.7 261.4 959.1 328.0 366.1 265.0 970.6 330.7 372.3 267.5 979.4 337.1 375.3 267.0 989.7 339.8 379.7 270.3 993.8 341.2 382.1 270.6 1,005.2 344.7 387.2 273.3 1,015.0 349.1 390.1 275.8 1,024.8 353.3 395.2 276.2 1,035.7 356.3 400.8 278.6 1,047.7 359.3 407.2 281.2 TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES4 Percent except as noted: not seasonally adjusted Institution, terms, and type of loan Commercial banks Interest rates 48-mo. new car 24-mo. personal Credit card plan All accounts Accounts assessed interest 9.70 14.10 n.a. n.a. n.a. n.a. 9.78 14.03 n.a. n.a. n.a. n.a. 9.44 13.84 n.a. n.a. n.a. n.a. 9.36 13.80 n.a. n.a. n.a. n.a. 9.12 13.63 16.14 15.27 n.a. n.a. n.a. n.a. 16.15 16.23 n.a. n.a. n.a. n.a. 15.98 15.94 n.a. n.a. n.a. n.a. 15.81 15.71 n.a. n.a. n.a. n.a. 15.82 15.41 New car loans at auto finance companies Interest rates 11.89 Maturity (months) 54.1 Loan-to-value ratio 92 Amount financed (dollars) 15,774 11.95 54.5 92 15,826 11.74 54.6 92 16,029 11.43 54.4 92 16,155 11.08 53.9 92 16,083 11.01 54.1 92 16,086 10.85 53.5 92 16,056 10.75 53.4 92 16,402 10.89 54.6 92 16,430 10.84 54.5 92 16,583 10.52 53.6 92 17,034 9.74 51 8 92 16,698 9.86 52.3 91 16,627 This release is issued around the fifth business day of each month. The exact dale and time may be obtained by calling (202) 452 3206 Footnotes appear on reverse. CONSUMER INSTALLMENT CREDIT OUTSTANDING (Billions of dollars) Not seasonally adjusted 1995 1996 r Feb. Mar. Apr. May June July Aug. Sept. 917.6 926.5 938.0 950.6 964.3 972.0 990.4 996.5 1,005.4 1,019.0 1,050.6 1,045.6 1,046.1 Commercial banks Finance companies Credit unions Savings institutions 5 Nonfinancial business Pools of securitized assets6 423.1 134.8 120.5 37.8 55.8 145.5 425.2 135.8 121.6 37.5 55.4 151.1 431.4 137.8 122.8 37.8 55.1 153.0 434.9 139.6 124.0 38.1 55.9 158.1 437.5 141.7 125.3 38.4 56.3 165.0 441.2 142.2 126.5 38.9 56.4 166.9 451.8 145.5 128.4 38.6 55.7 170.3 449.5 146.2 129.0 38.9 54.2 178.7 451.2 148.7 130.3 38.5 54.6 182.1 453.7 147.1 131.0 38.5 53.1 195.6 465.0 152.1 132.0 38.5 57.5 205.6 459.7 151.8 131.6 38.5 54.7 209.2 459.3 153.3 131.3 38.5 52.9 210.8 Major types of credit' Automobile Commercial banks Finance companies Pools of securitized assets6 318.9 141.8 61.1 34.3 321.4 141.9 61.3 35.2 323.9 142.0 62.4 35.3 326.5 142.9 63.7 36.2 330.7 144.8 65.2 36.7 336.2 146.1 65.9 37.1 341.7 148.5 68.3 36.7 344.4 148.9 68.9 37.5 347.5 150.8 70.8 36.5 351.0 149.9 68.2 43.2 354.4 151.1 70.1 43.7 354.5 152.3 70.8 41.9 356.8 153.2 72.7 41.5 Revolving Commercial banks Nonfinancial business5 Pools of securitized assets6 344.8 175.6 50.4 96.6 347.2 175.8 50.0 101.2 354.1 180.6 49.8 103.2 361.3 183.0 50.6 106.8 367.6 183.0 51.0 112.6 370.5 184.2 51.1 114.3 377.8 189.2 50.4 117.7 380.3 185.6 48.9 123.7 384.6 186.5 49.4 126.7 392.7 189.4 47.8 133.0 416.2 198.1 52.0 142.7 409.3 189.3 49.3 147.5 406.9 187.0 47.6 149.3 Other Commercial banks Finance companies Nonfinancial business5 Pools of securitized assets6 253.9 105.8 73.7 5.4 14.6 257.9 107.6 74.5 5.4 14.7 260.0 108.8 75.4 5.3 14.5 262.8 109.0 75.9 5.3 15.1 265.9 109.8 76.6 5.3 15.7 264.7 110.8 76.3 5.3 15.5 269.5 114.1 77.3 5.3 15.9 271.8 115.0 77.3 5.3 17.5 273.3 114.0 77.9 5.2 19.0 275.2 114.4 78.9 5.3 19.4 280.1 115.9 82.0 5.5 19.2 281 8 118.1 81.0 5.4 19.8 282.4 119.2 80.6 5.4 20.0 Total Major holders Oct. Nov. Dec. Jan. Feb.P 1. Covers most short- and intermediate- term credit extended to individuals that is scheduled to be repaid (or has the option of repayment) in two or more installments, excluding loans secured by real estate. 2. Percent changes calculated from unrounded data. 3. Comprises mobile home loans and all other installment loans not included in automobile or revolving credit, such as loans for education, boats, trailers, or vacations These loans may be secured or unsecured. 4. Interest rates are annual percentage rates (APR) as specified by the Federal Reserves Regulation Z. Interest rates for new-car loans and personal loans at commercial banks are simple unweighted averages of each bank's most common rate charged during the first calendar week of the middle month of each quarter. For credit card accounts, the rate for all accounts is the stated APR averaged across all credit card accounts at all reporting banks. The rate for accounts assessed interest is the annualized ratio of total finance charges at all reporting banks to the total ayerage daily balances against which the finance charges were assessed (excludes accounts for which no finance charges were assessed) Finance company data are from the subsidiaries of the three major U.S. automobile manufacturers and are volume-weighted averages covering all loans of each type purchased during the month 5. Includes retailers and gasoline companies. 6. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators. 7. Includes estimates for holders that do not separately report consumer credit holding by type. r=revised. p=preliminary.
