Full text of G.19 Consumer Credit : April 6, 1976
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.••oI£ovA-
FEDERAL
RESERVE
statistical
release
FOR IMMEDIATE RELEASE
APRIL 6, 1976
G.19
CONSUMER INSTALMENT CREDIT - FEBRUARY 1976
PACED BY AUTOMOBILE CREDIT, CONSUMER INSTALMENT CREDIT CONTINUED TO EXPAND
STRONGLY IN FEBRUARY, ALTHOUGH THE GAIN WAS NOT QUITE SO LARGE AS IN JANUARY. AFTER
SEASONAL ADJUSTMENT, THE NET CHANGE IN INSTALMENT CREDIT OUTSTANDING WAS
$1.17 BILLION, COMPARED WITH $1.29 BILLION THE PREVIOUS MONTH. THE FEBRUARY INCREASE
WAS STILL WELL AHEAD OF THE $843 MILLION AVERAGE IN THE FOURTH QUARTER OF 1975.
INSTALMENT CREDIT EXTENSIONS, AT $15.82 BILLION, AND LIQUIDATIONS, AT
$14.66 BILLION, BOTH DROPPED BELOW THE JANUARY RECORD HIGHS.
AUTOMOBILE CREDIT OUTSTANDING INCREASED BY $632 MILLION IN FEBRUARY.
THIS WAS THE LARGEST NET CHANGE IN AUTO CREDIT SINCE AUGUST, 1973t INDICATING
FURTHER STRENGTH IN THE RECOVERY FROM NEGATIVE CHANGES IN LATE 1974 AND EARLY 1975.
MOBILE HOME CREDIT REMAINED WEAK, AS OUTSTANDINGS SHRANK ANOTHER $64 MILLION AT
BANKS AND FINANCE COMPANIES. BANK REVOLVING CREDIT, THE ONLY CREDIT TYPE TO POST
HIGHER EXTENSIONS IN FEBRUARY, EXPANDED BY $152 MILLION, THE LARGEST NET CHANGE
IN OVER A YEAR.
A MODERATION OF GROWTH IN "ALL OTHER" CREDIT, TO A $392 MILLION INCREASE FROM
JANUARYS UNUSUALLY HIGH $625 MILLION GAIN, MORE THAN ACCOUNTED FOR THE SMALLER
ADVANCE IN TOTAL INSTALMENT CREDIT DURING FEBRUARY. "ALL OTHER" CREDIT CONSISTS OF
RETAIL STORE CREDIT AND MERCHANDISE-SECURED OR PERSONAL CASH LOANS MADE BY FINANCIAL
INSTITUTIONS.
CONSUMER INSTALMENT CREDIT -
FEB. 1976
(IN MILLIONS OF DOLLARS)
INSTALMENT CREDIT, TOTAL
I
I
F E B . 1976 I J A N . 1976
(SEASONALLY A D J . )
AMOUNT EXTENDED:
I
|
I
I
16,2051
13,1161
11,0441
I
I
I
4,378|
2821
429|
4,5111
2871
I
1,9311
4071
1,8401
8,397|
8,711f
I
I
14,9101
I
I
1,1691
I
I
AMOUNT OUTSTANDING,
END OF MONTH:
XXXXXXX
13,7681
1,295|
-6511
!
I
XXXXXXX
1
!
NOTE:
(1)
(2)
(3)
(4)
47,727
3,361
4,507
20,153
4,298
91,437
166,028
-1,1511
5,455
I
I
154,6391
160,09f|
157,023
CREDIT
PER CENT)
SHARE OF EXTENSIONS
(SEASONALLY A D J . ]
F E B . 19761 J A N . 1976J F E B .
43.9 1
25.6!
14.2!
14.8!
1.5|
171,484
f
I
I
I
I
12 MONTHS
ENDING
FEB. 1 9 7 6
I
I
I
I
HOLDER SHARES OF INSTALMENT
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS ( ? )
OTHERS ( 4 )
12,1951
I
I
I
(IN
I
I
1,559|
3711
3971
14,656|
6,8861
3,3121
208|
249|
1,2211
319|
5,7351
3,739|
2221
3401
459|
I
!
NET CHANGE IN AMOUNT
OUTSTANDING
HOLDER
I
15,824!
AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK CREDIT CARD
OTHER REVOLVING (1)
ALL OTHER
AMOUNT LIQUIDATED:
I
I F E B . 1976 | FEB. 1975
I
(NOT S E A S . A D J . )
1
41.3!
26.1!
13.9{
15.9|
2.8!
!
i
MONTH-END SHARE OF OUTSTANDINGS
(NOT SEASONALLY A D J . )
19 7 5 ! FEB. 1976 1 J A N . 1976 1 F E B . 1975
!
!
!
44.1!
24.1!
14.61
15.7!
1.5|
46.9!
24.11
15.9!
10.7J
2.4|
46.9!
24.1!
15.71
11.11
2.2!
»
I
I
1
CONSUMER INSTALMENT CREDIT CONSISTS OF SHORT- AND INTERMEDIATE-TERM CREDIT
bANK CHECK CREDIT AND CTHFR BANK REVOLVING C R E D I T .
ANNUAL AVERAGE.
RETAIL STORES AND CATALOG ORDER.
MUTUAL SAVINGS BANKS, SAVINGS AND LOAN ASSOCIATIONS, AND AUTO DEALERS*
48.1
24.7
14.3
10.8
2.1
(2)
NET CHANGE IN INSTALMENT CREDIT
AUTO
SEASONALLY ADJUSTED,
QUARTERLY
i—i—i—i—i—r
NONAUTO
•T~T""
J
T"i—r
MILLIONS OF DOLLARS
1500
-
~r
n—r-~r
"i—I—r
~r
p-ryrrr
i—i—r
I L
J-uJ
1970
CONSUMER
INSTALMENT CREDIT BY HOLDER AND TYPE
L_L
FEB. 1976
( I N MILLIONS OF DOLLARS)
II
E X T E N D E D
L
I
HOLDER AND TYPE
TOTAL
BY HOLDER*
1
FEB.
1975
S.A.
I
13,2441
1
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS
(2)
OTHERS
(3)
!
1
I
BY CREDIT TYPE
|
1
I
1
|
»
|
1
| 'FEB.
|
1976
| U.S.A.
II
||
||
1
II
15,824!
16,2051
1
1
1
1
1
1
1
1
5,8411
3,1961
1,9391
2,0851
1831
1
6,687|
4,2311
2,2531
2,5781
4 56 1
1
1
1
1
1
3,8811
AUTOMOBILE, TOTAL
JAN.
19 76
S.A.
FEB.
1976
S.A.
6,9391
4,0541
2,2481
2,3471
236|
t
II
II
1
1
2,2011
1,2771
9231
8801
759|
411
1
2,3611
1,3141
1,0471
9871
1,068|
951
1
2,5451
1,3771
1,1681
912!
8811
40|
1
1
1
1
1
1
1
1
1
1
1
1791
771
209|
79|
2111
711
HOME IMPROVEMENT, TOTAL 1
3051
459|
429|
COMMERCIAL BANKS
FINANCE COMPANIES
COMMERCIAL BANKS
BANK CREDIT CARO
BANK CHECK CREDIT
ALL OTHER, TOTAL
COMM. BANKS, TOTAL
PERSONAL LOANS
FINANCE C O S . , TOTAL
PERSONAL LOANS
CREDIT UNIONS
RETAILERS
OTHERS
3,6221
3,739|
JAN.
1976
S.A.
|
|
|
1
14,9101
FEB.
1976
S.A.
14,6561
1
1
1
1
1
1
1
I
6,479|
3,9711
1,866|
2,3931
202|
1
6,464|
3,856|
1,8281
2,289!
219|
1
1
1
1
1
4,023!
3,7461
13,76811
1168H
II
1!
II
II
1!
II
II
II
6,13211
3,463||
1,654||
2,319||
2001 |
1 j
4751!
19811
420||
5811
17||
591|
466|
3,4031
5531
4421
.8
1.2
13.3
3.2
11.8
53,5191
2,146|
4.0
29311
34||
25911
174||
16511
*
II
II
29,872 1
17,409|
12,463 1
13,490|
9,704|
453«
-324|
-786|
462!
1,0841
1,3011
85|
-l.l
-4.5
3.7
8.0
13.4
18.8
8,279|
3,440|
-544|
-99|
-6.6
-2.9
8,2 54|
58|
.7
4,757 1
168|
3.5
8,9871
2,912 1
800!
85|
8.9
2.9
74,703 1
3,0091
4.0
20,2031
14,010 1
21,152!
16,952 1
15,020 1
17,192
1,136|
406|
4111
-174|
206|
1,999|
5531
2251
2.0
2.9
-.6
1.2
13.3
3.2
19.8
1
1
163| 1
59! 1
2431
871
235|
1071
I
1
256|
90|
2351
831
~45||
-19||
340| 1
11
173! 1
3601
1
1931
353|
3721
349»
11
11
1,559| 1
3711 I
i j
1
1
1,4721
3361
j
6,886| I
6,9881
57||
II
32 1 !
II
II
II
133 | |
19||
II
39211
II
43||
3311
49||
1141!
242 11
58||
*
II
I
1
75 , 0 1 0 |
38,660!
25,492 1
17,1921
3,740|
II
2,2521
1,343!
909!
7381
716|
<*o|
11
1
3.4
63211
II
2,4051
1,2741
1,131!
7121
8651
411
a
i
5,4551
3,539||
2,2551
1,3421
9131
6981
640 1
301
1
1
2,1571
1,1731
984|
751!
779|
52!
160,094 1
II
II
1!
1
1
| CHANGE FROM END
| OF F E B . 1 9 7 5
» AMOUNT|
PER
CENT
| N.S.A.|
II
II
1
1
T A N D I N G
2,148||
1,2641 I
884) |
6681
687|
36!
1 1
1
1
I!
1!
II
1
REVOLVING
5,952!
3,134|
1,661!
2,1821
1791
i 1
1
MOBILE HOME
1
1
1
1
1
1
1
1
II
II
1!
II
i
1
COMMERCIAL BANKS
PURCHASED PAPER
DIRECT LOANS
FINANCE COMPANIES
CREDIT UNIONS
OTHERS
(3)
13,1091
5,799||
3,386||
1,896||
l,740||
295|
4,3781
4,5111
|
I
|
1
13,116|!
1
1
1
1
FEB.
1975
S.A.
I I NET | | O U T S
—
— — l 1 CHG I | |
FEB.
| | F E B . I I END OF
FEB.
|
1976
I 1 1976||
1976
| N.S.A.
| | S.A. I I
II (1) I I N.S.A.
I
Q U I D A T E D
INSTALMENT CREDIT, BY 1
1
1
1
1
1811
l
2311
1
1
1
1
1
1
1
j
1,5221
349|
j
1
1
1,8401
3971
8,711|
1
6,9331
1
1
1
1
1
I
1
1
I
1,4111
991!
2,225|
1,4661
1,1511
2,0851
61|
i
1
1,649|
1,1451
3,139|
1,9801
1,141|
2,5781
204|
1
241!
j
1
1
1,9311
407!
1
8,397|
1
1,6041
1,139|
3,04l|
1,9161
1,319|
2,3471
86|
i i
1
1
2011
j
1
1
1,7331
3741
i
8,0661
1
209|
1
I
1
1,798 1
3881
j
8,0051
11
1
1
I
1
1
1
1
1
1
1
1,4531
1,021!
2,2911
1,488 1
9971
2,1821
65 1
1,5311
1,0451
3,119|
1,9401
9681
2,3931
751
1,561!
1,106|
2,992|
1,802 1
1,077|
2,289|
86|
1,3771
9901
2,546|
1,581|
1,0781
1,740|
145|
1
1931 1
11
11
I1
1
1
1
I
11
1,464| 1
1,0261 1
2,6731 1
1,664| I
9361 1
2,319| 1
781 1
1,7221
370|
j
7,4701
(II, NET CHANGES FOR ALL MONTHS EQUAL EXTENSIONS MINUS LIQUIDATIONS (REPAYMENTS, CHARGEOFFS, AND OTHER CREDITS).
(2) EXCLUDES 30-OAY CHARGE CREDIT HELD BY RETAILERS, OIL AND GAS COMPANIES, AND TRAVEL AND ENTERTAINMENT COMPANIES
AMOUNTING TO $2172 MILLION AT THE END OF FEBRUARY. THIS REPRESENTS AN INCREASE OF $ 7 MILLION FROM THE END OF
JANUARY ON A SEASONALLY ADJUSTED BASIS AND A DECREASE OF $71 MILLION ON AN UNADJUSTED BASIS.
<3i MUTUAL SAVINGS BANKS, SAVINGS AND LOAN ASSOCIATIONS, AND AUTO DEALERS.
NOTE:
S.A. AND N.S.A. DENOTE SEASONALLY ADJUSTED AND NOT SEASONALLY ADJUSTED DATA, RESPECTIVELY.
LESS THAN $0.5 MILLION, OR LESS THAN 0.05 PERCENT, AS APPLICABLE.
@FedFRASER