Full text of G.19 Consumer Credit : April 7, 1997

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Release Date: April 7, 1997
Release dates | Historical data
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G.19

CONSUMER CREDIT
February 1997

1

For release at 3 p.m.(Eastern Time)
April 7, 1997

Consumer credit outstanding grew at a 6.7 percent seasonally adjusted annual rate in February, following an upward revised 10.3 percent
rate of gain in January. Growth in revolving credit slowed, but remained brisk, while growth of "other" credit picked up. The level of
auto credit outstanding was little changed in February.
CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
-------------------------------------------------------------------------------------------------------------------------------------------1996
1997
_______________________________________________________________________________________ _______________
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept. Oct. r Nov. r Dec. r Jan. r Feb. p
------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------------------------------------------------------------------------------------------------------------------------------------------------Percent change at annual rate 2
Total
11.9
12.0
9.0
6.8
7.1
14.6
8.6
1.1
8.3
5.3
3.1
10.3
6.7
Automobile
9.6
9.5
8.6
3.8
17.9
19.1
-0.1
3.1
7.2
-0.6
2.0
3.1
0.3
Revolving
19.2
15.8
18.1
15.3
5.4
15.0
8.6
-1.4
11.6
15.0
9.0
21.6
12.7
Other 3
5.3
9.7
-2.1
-0.9
-2.1
9.2
18.0
2.4
5.1
-1.1
-3.5
2.9
5.5
Amount: billions of dollars
Total
1,122.1 1,133.3 1,141.8 1,148.3 1,155.1 1,169.1 1,177.5 1,178.6 1,186.7 1,192.0 1,195.1 1,205.3 1,212.0
Automobile
355.8
358.6
361.2
362.3
367.7
373.6
373.5
374.5
376.7
376.5
377.2
378.2
378.2
Revolving
425.7
431.3
437.9
443.5
445.4
451.0
454.3
453.7
458.1
463.8
467.3
475.7
480.8
Other 3
340.6
343.4
342.8
342.5
341.9
344.5
349.7
350.4
351.9
351.6
350.6
351.4
353.0
-------------------------------------------------------------------------------------------------------------------------------------------TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES 4
Percent except as noted: not seasonally adjusted
-------------------------------------------------------------------------------------------------------------------------------------------Institution, terms, and type of loan
-------------------------------------------------------------------------------------------------------------------------------------------Commercial banks
Interest rates
48-mo. new car
9.12
n.a.
n.a.
8.93
n.a.
n.a.
9.11
n.a.
n.a.
9.03
n.a.
n.a.
8.92
24-mo. personal
13.63
n.a.
n.a.
13.52
n.a.
n.a.
13.37
n.a.
n.a.
13.62
n.a.
n.a.
13.46
Credit card plan
All accounts
15.82
n.a.
n.a.
15.44
n.a.
n.a.
15.65
n.a.
n.a.
15.62
n.a.
n.a.
15.88
Accounts assessed interest
15.41
n.a.
n.a.
15.41
n.a.
n.a.
15.64
n.a.
n.a.
15.52
n.a.
n.a.
15.13
New car loans at auto finance companies
Interest rates
9.86
9.77
9.64
9.37
9.53
9.81
10.49
10.52
10.40
10.31
8.60
7.17
7.44
Maturity (months)
52.3
51.8
51.5
50.8
50.4
50.5
51.4
51.9
52.5
52.3
52.3
55.1
54.6
Loan-to-value ratio
91
91
91
91
91
91
92
91
89
90
90
92
92
Amount financed (dollars)
16,627 16,520 16,605 16,686 16,854 16,926 16,927 17,182 17,435 17,719 17,670 17,090 16,837
-------------------------------------------------------------------------------------------------------------------------------------------This release is issued around the fifth business day of each month. The exact date and time may be obtained by calling (202) 452 - 3206.
Footnotes appear on reverse.

1
CONSUMER CREDIT OUTSTANDING
(Billions of dollars)
Not seasonally adjusted
----------------------------------------------------------------------------------------------------------------------------------------1996
1997
_______________________________________________________________________________________ _______________
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept. Oct. r Nov. r Dec. r Jan. r Feb. p
------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ----------------------------------------------------------------------------------------------------------------------------------------------Total
Major holders
Commercial banks
Finance companies
Credit unions
Savings institutions

1,119.2 1,123.0 1,131.1 1,138.5 1,147.9 1,159.4 1,174.3 1,182.6 1,188.5 1,199.9 1,227.0 1,216.5 1,208.7
497.2
154.4
131.2
40.4

497.7
151.7
131.5
40.7

503.9
153.3
132.8
41.1

502.3
155.9
134.6
41.6

505.7
153.8
136.1
41.1

510.2
154.8
138.2
43.0

516.7
153.4
140.6
44.0

517.1
154.8
142.0
44.9

521.3
153.4
144.4
44.9

523.0
153.2
145.1
44.8

530.1
154.2
146.3
44.7

527.2
154.5
146.6
44.6

521.2
153.8
146.0
44.6

Nonfinancial business
Pools of securitized assets 5

78.1
217.9

76.7
224.6

73.7
226.2

74.6
229.5

72.0
239.3

69.9
243.1

71.0
248.6

68.5
255.3

67.9
256.5

69.8
264.1

79.7
271.9

75.6
267.9

72.6
270.5

Major types of credit 6
Automobile
Commercial banks
Finance companies
Pools of securitized assets 5

353.5
147.7
73.3
41.8

354.9
148.5
72.1
43.0

356.7
150.1
73.8
40.7

359.6
150.5
74.3
41.2

366.2
152.9
74.3
45.3

372.4
153.9
75.7
46.4

375.0
154.5
74.4
47.5

377.9
153.1
76.3
48.1

381.0
154.8
75.9
48.0

380.7
154.8
75.3
48.2

380.8
154.0
73.2
51.2

377.7
153.3
73.6
48.5

375.9
152.2
74.0
47.1

Revolving
Commercial banks
Nonfinancial business
Pools of securitized assets 5

424.6
198.9
48.6
153.4

426.0
196.8
47.4
157.9

431.1
201.1
44.5
161.4

437.6
203.4
45.2
164.5

440.6
204.0
42.6
169.2

444.7
207.3
40.5
171.6

451.3
209.8
41.3
174.6

453.7
211.2
38.8
178.0

457.6
215.0
38.1
178.6

467.5
217.9
39.3
184.0

491.8
228.6
46.9
188.7

483.4
224.2
43.9
187.9

479.4
217.7
41.8
192.3

Other
341.1
342.1
343.2
341.3
341.1
342.4
348.0
351.1
349.9
351.6
354.3
355.3
353.4
Commercial banks
150.6
152.4
152.7
148.4
148.7
149.1
152.5
152.8
151.4
150.2
147.5
149.8
151.3
Finance companies
81.1
79.6
79.5
81.6
79.5
79.1
78.9
78.5
77.5
77.9
81.0
80.9
79.8
Nonfinancial business
29.5
29.3
29.2
29.5
29.4
29.4
29.7
29.7
29.8
30.5
32.8
31.7
30.8
Pools of securitized assets 5
22.7
23.7
24.1
23.8
24.8
25.1
26.5
29.2
29.9
31.8
32.1
31.6
31.1
----------------------------------------------------------------------------------------------------------------------------------------1. Covers most short- and intermediate- term credit extended to individuals, excluding loans secured by real estate.
2. Percent changes calculated from unrounded data.
3. Comprises mobile home loans and all other 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 Reserve's 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 average 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. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of
the loan originators.
6. Includes estimates for holders that do not separately report consumer credit holding by type.
r=revised. p=preliminary.

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Last update: April 7, 1997