Full text of G.19 Consumer Credit : April 7, 2011

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G.19

CONSUMER CREDIT

For release at 3 p.m. (Eastern Time)

February 2011

April 7, 2011

Consumer credit increased at an annual rate of 3-3/4 percent in February 2011. Nonrevolving credit increased at an annual rate of 7-3/4 percent, while revolving credit decreased at an annual rate of 4 percent.

CONSUMER CREDIT OUTSTANDING1
Seasonally adjusted
2009

Percent change at annual rate2
Total
Revolving
Nonrevolving3
Amount: billions of dollars
Total
Revolving
Nonrevolving3

2006

2007

2008

2009

r
2010

4.1
5.0
3.6

5.8
8.1
4.4

1.5
1.7
1.5

-4.4
-9.6
-1.2

2,384.8
871.0
1,513.8

2,522.2
941.8
1,580.4

2,561.1
957.5
1,603.6

2,449.4
865.8
1,583.5

2011

Q4

r
Q1

-1.7
-7.5
1.5

-5.5
-12.4
-1.7

-4.1
-11.9
0.2

-3.0
-6.6
-1.1

-1.9
-9.4
2.1

2.1
-3.1
4.8

2,407.5
800.7
1,606.9

2,449.4
865.8
1,583.5

2,424.5
840.1
1,584.4

2,406.1
826.2
1,579.9

2,394.9
806.9
1,588.0

Q2

r

2010
r
Q3

r

p
Feb

2.3
3.0
2.0

2.2
-5.9
6.2

3.8
-4.1
7.7

2,407.5
800.7
1,606.9

2,407.5
800.7
1,606.9

2,412.0
796.7
1,615.2

2,419.6
794.0
1,625.5

Q4

r

Dec

r

Jan

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

7.72
12.41

7.77
12.38

7.02
11.37

6.72
11.10

6.21
10.87

6.55
11.20

6.45
10.83

6.26
11.00

6.24
10.71

5.87
10.94

n.a.
n.a.

n.a.
n.a.

5.86
11.01

13.21
14.73

13.30
14.68

12.08
13.57

13.40
14.31

13.78
14.26

13.60
14.37

14.26
14.67

13.84
14.48

13.59
14.22

13.44
13.67

n.a.
n.a.

n.a.
n.a.

13.43
13.44

New car loans at auto finance companies 5
Interest Rates
4.99
Maturity (months)
63.0
Loan-to-Value Ratio
94
Amount financed (dollars)
26,620

4.87
62.0
95
28,287

5.52
63.4
91
26,178

3.82
62.0
90
28,272

4.26
63.0
86
27,959

3.47
63.9
92
31,109

4.31
62.9
89
28,444

4.09
62.9
87
27,888

4.08
63.8
87
28,081

4.57
62.5
82
27,423

4.55
61.3
82
27,260

4.73
62.3
80
26,673

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

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.

CONSUMER CREDIT OUTSTANDING
(Billions of dollars)
Not seasonally adjusted
2009
2006

2007

2008

2009

r
2010

Q4

Q1

r

Q2

r

2010
r
Q3

Q4

r

Dec

r

2011
r
p
Jan
Feb

Total

2,416.0 2,555.3 2,594.1 2,478.9 2,434.9 2,478.9 2,406.1 2,387.5 2,407.8 2,434.9 2,434.9 2,432.9 2,416.5

Major holders
Total
Commercial banks
Finance companies
Credit unions
Federal government6
Savings institutions
Nonfinancial business
Pools of securitized assets7,8

2,416.0 2,555.3 2,594.1 2,478.9 2,434.9 2,478.9 2,406.1 2,387.5 2,407.8 2,434.9 2,434.9 2,432.9 2,416.5
741.2 804.1 878.6 855.3 1,098.7 855.3 1,149.2 1,133.7 1,115.2 1,098.7 1,098.7 1,083.6 1,067.7
534.4 584.1 575.8 487.8 518.6 487.8 536.9 527.2 516.3 518.6 518.6 515.6 511.4
234.5 235.7 236.2 237.2 226.5 237.2 228.0 225.8 224.9 226.5 226.5 224.2 221.8
91.7
98.4 111.0 186.0 316.4 186.0 209.8 222.6 280.3 316.4 316.4 340.8 349.0
95.5
90.8
86.3
77.5
86.8
77.5
78.0
80.6
82.1
86.8
86.8
87.2
87.5
57.6
58.6
59.8
57.2
56.2
57.2
53.5
52.8
52.4
56.2
56.2
54.6
53.4
661.1 683.7 646.4 577.9 131.7 577.9 150.7 144.8 136.6 131.7 131.7 127.0 125.7

Major types of credit
Revolving
Commercial banks
Finance companies
Credit unions
Federal government6
Savings institutions
Nonfinancial business
Pools of securitized assets7,8
Nonrevolving
Commercial banks
Finance companies
Credit unions
Federal government6
Savings institutions
Nonfinancial business
Pools of securitized assets7,8

900.2
327.3
79.9
27.4
n.a.
42.5
8.7
414.4

973.2
353.4
86.0
31.1
n.a.
44.8
7.9
450.0

989.1
390.6
74.4
33.4
n.a.
39.6
8.7
442.4

894.0
362.4
46.4
35.4
n.a.
38.1
8.8
402.8

826.7
615.1
71.9
36.3
n.a.
49.6
8.8
44.9

894.0
362.4
46.4
35.4
n.a.
38.1
8.8
402.8

828.5
630.0
65.9
34.3
n.a.
41.0
8.2
49.2

817.4
616.7
65.9
34.9
n.a.
43.1
8.2
48.7

806.9
603.7
67.2
35.3
n.a.
45.3
8.4
47.0

826.7
615.1
71.9
36.3
n.a.
49.6
8.8
44.9

826.7
615.1
71.9
36.3
n.a.
49.6
8.8
44.9

807.5
599.8
70.3
35.9
n.a.
50.0
8.6
42.8

792.1
585.8
69.4
35.3
n.a.
50.4
8.3
42.9

1,515.8 1,582.1 1,605.1 1,584.9 1,608.2 1,584.9 1,577.7 1,570.0 1,601.0 1,608.2 1,608.2 1,625.4 1,624.3
413.9 450.7 488.1 492.9 483.6 492.9 519.2 517.0 511.5 483.6 483.6 483.8 481.9
454.5 498.0 501.3 441.3 446.7 441.3 471.0 461.3 449.1 446.7 446.7 445.3 442.1
207.1 204.6 202.8 201.7 190.1 201.7 193.7 190.9 189.6 190.1 190.1 188.2 186.5
91.7
98.4 111.0 186.0 316.4 186.0 209.8 222.6 280.3 316.4 316.4 340.8 349.0
53.1
46.0
46.8
39.5
37.2
39.5
37.0
37.5
36.9
37.2
37.2
37.2
37.1
48.9
50.7
51.1
48.4
47.4
48.4
45.3
44.6
44.1
47.4
47.4
46.0
45.0
246.7 233.6 204.0 175.1
86.8 175.1 101.5
96.1
89.6
86.8
86.8
84.2
82.8

1. Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate.
2. The series for consumer credit outstanding and its components may contain breaks that result from discontinuities in source data. Percent changes are adjusted to exclude the effect
of such breaks. In addition percent changes are at a simple annual rate and are calculated from unrounded data.
3. Includes automobile loans and all other loans not included in revolving credit, such as loans for mobile homes, 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).
5. The statistical foundation for these series has deteriorated in the past few months. Therefore, publication of these series is temporarily being suspended. The statistical foundation is in the
process of being improved, and publication will resume as soon as possible.
6. Data for the Student Loan Marketing Association (Sallie Mae) are included in the Federal government sector until the completion of Sallie Mae’s privatization in 2004:Q4 and in the
Finance company sector thereafter.
7. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators.
8. The shift of consumer credit from pools of securitized assets to other categories is largely due to financial institutions’ implementation of the FAS 166/167 accounting rules.
r=revised. p=preliminary.