Full text of G.19 Consumer Credit : April 6, 1989

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• * C ^ GOV,

FEDERAL RESERVE statistical release
For immediate r e l e a s e
A p r i l 6 , 1989

G.19

CONSUMER INSTALLMENT CREDIT
Consumer i n s t a l l m e n t c r e d i t o u t s t a n d i n g i n c r e a s e d $ 4 . 2 2 b i l l i o n in F e b r u a r y ,
l i t t l e changed from t h e $ 4 . 3 7 b i l l i o n growth in January. The s e a s o n a l l y a d j u s t e d annual
r a t e of growth in February was 7 . 5 p e r c e n t . The growth r a t e has not moved o u t s i d e t h e
narrow 7 - t o - 8 p e r c e n t range s i n c e September. Growth in r e v o l v i n g c r e d i t s t r e n g t h e n e d i n
February, w h i l e growth in a u t o m o b i l e loans remained c l o s e t o J a n u a r y ' s l e v e l .
Growth in
"other" p e r s o n a l borrowing s l o w e d , and mobile home l e n d i n g r e g i s t e r e d a d e c l i n e .

Net change i n
amount o u t s t a n d i n g
( m i l l i o n s of d o l l a r s )
1989

Annual r a t e of growth
(percent)
1989

1988

1988

CHANGE IN CREDIT BY TYPE
( s e a s o n a l l y adjusted)

Feb.1

Jan.

Dec.

Feb.P

Jan.r

Dec.

Total
Automobile
Revolving
Mobile home
Other

4,215
2,101
1,604
-59
569

4,374
2,129
1,023
50
1,172

4,302
2,350
1,288
-278
944

7.5
8.6
10.3
-2.8
4.1

7.9
8.8
6.6
2.3
8.5

7.8
9.8
8.4
-12.9
6.9

1989
TERMS OF CREDIT
(not s e a s o n a l l y adjusted)
Interest rates 1/
Commercial banks 2 /
48-mo. new-car loan
24-mo. p e r s o n a l loan
120-mo. mobile home loan
Credit card p l a n
Auto f i n a n c e companies 3 /
New-car loan
Used-car loan
Other terms at
auto f i n a n c e companies 3 /
Maturity (months)
New-car loan
Used-car loan
Loan-to-value ratio (percent)
New-car loan
Used-car loan
Amount financed (dollars)
New-car loan
Used-car loan



1988

Feb.

Jan.

11.76
15.22
14.00
17.83

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

13.07
15.90

13.27
15.57

Dec.

Nov.

Feb.

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

11.22
15.06
13.61
17.77

10.72
14.46
13.45
17.80

13.25
15.80

13.20
15.75

12.26
14.75

55.7
47.4

56.2
47.8

56.3
46.0

56.2
46.2

55.9
46.8

92
98

94
97

94
98

94
98

94
99

11,819
8,022

11,956
8,006

12,068
8,022

11,975
7,991

11,447
7,619

CONSUMER INSTALLMENT CREDIT, BY HOLDER AND TYPE 4/
Millions of dollars except as noted
Net change during month

Total

Feb/
1989

Jan/
1989

D . A«

b .A.

Feb.*
1989
N. S .A.

Outstanding at end of month
Feb/
1989
S.A.

Feb.'
1989
N.S.A.

Feb.
1988
N.S.A.

Change from end of
Feb. 1988
Percent

Amount

4,215

4,374

-4,343

674,781

669,288

618,926

50,362

8.1

1,393
2,167

1,357
1,663

-1,898

575
619
201
-41

-644

320,479
144,766
86,153
68,744
45,575
3,571

286,024
140,321
81,094
64,873
43,078
3,536

34,455
4,445
5,059
3,871
2,497

12.0

217
381
6
51

321,880
147,353
87,006
69,298
45,577
3,667

35

3.2
6.2
6.0
5.8
1.0

n.a.
n.a.

294,053
126,895
98,566
49,120
19,472

n.a.
125,969
96,019
n.a.
n.a.

n.a.
110,211
97,536
n.a.
n.a.

n.a.
15,758
-1,517
n.a.
n.a.

n.a.
14.3
-1.6
n.a.
n.a.

n.a.
-1,088
n.a.
-1,779
-219
n.a.

188,383
118,262
17,099
39,383
3,667
9,972

n.a.
118,688
n.a.
39,359
3,571
n.a.

n.a.
101,903
n.a.
37,209
3,536
n.a.

n.a.
16,785
n.a.
2,150

n.a.
16.5
n.a.

25,543
8,794
7,063
9,686

n.a.
8,736
7,045
n.a.

166,802
67,928
41,725
27,914
23,041
6,194

n.a.
67,086
41,702
n.a.
n.a.
6,216

Major holder
Commercial banks
Finance companies 5/
Credit unions
Savings institutions
Retailers
Gasoline companies

384
-63
-1,903
-219

Major credit type 6/
n.a.
-862

Automobile
Commercial banks
Finance companies
Credit unions
Savings institutions

2,101

2,129

-37
299
164

879
524
497
230

Revolving 7/
Commercial banks
Savings institutions
Retailers
Gasoline companies
Credit unions

1,604

1,023

984
286
58
51
226

228
342
231
-41
264

Mobile home
Commercial banks
Finance companies
Savings institutions

-59
-33
-78
52

50
34
-69
85

n.a.

Other

569
479
570

1,172

n.a.

217

102
214

Commercial banks
Finance companies
Credit unions
Savings i n s t i t u t i o n s
Retailers

1,675

-308
-120

-51

1,209
-187

-38
-29

243

-50
-73
n.a.

n.a.
n.a.
-124

35

5.8
1.0

n.a.

n.a.

n.a.
8,975
7,660
n.a.

n.a.
-239
-615
n.a.

n.a.
-2.7
-8.0
n.a.

n.a.
64,935
35,125
n.a.
n.a.
5,869

n.a.
2,151
6,577
n.a.
n.a.

n.a.
18.7
n.a.
n.a.

347

5.9

3.3

1. Interest rates are annual percentage rates as specified by Regulation Z.
2. Commercial bank data are simple unweighted averages of each bank's "most commmon" rate
charged during the first calendar week of the month.
3. Finance company data from the subsidiaries of the three major U.S. automobile manufacturers
are volume-weighted averages covering all loans of each type purchased during the month.
4. The Board's series on amounts of credit 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. Includes outstanding balances on some
securitized consumer loans originated by financial institutions.
5. More detail for finance companies is available in the G.20 Statistical Release, Finance
Companies.
6. Not seasonally adjusted data are unavailable by type of credit for certain holders. In these
cases, the seasonally adjusted total for the holder group has been allocated among the components
using the latest available benchmark information.
7. Excludes 30-day charge credit held by travel and entertainment companies.
n.a.= Data not available.
S.A.« Seasonally adjusted,
r « revised.
p « preliminary.

N . S . A . B Not seasonally adjusted,

The G.19 Statistical Release is issued around the fifth working day of each month.
date and time may be obtained by calling (202) 452-3206.




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