Full text of G.19 Consumer Credit : August 5, 1976

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FEDERAL

RESERVE

statistical

release

"fSJS^"
FOR

G.19

I M M E D I A T E RELEASE
AUGUST 5 , 1 9 7 6

CONSUMER INSTALMENT CREDIT - JUNE 1976
CONSUMER INSTALMENT CREOIT EXPANSION SLOWED SOMEWHAT I N J U N E , AS THE NET CHANGE
I N CONSUMER C R E D I T OUTSTANDING D E C L I N E D TO * 1 . 3 3 B I L L I O N , SEASONALLY A D J U S T E D , FROM
$ 1 . 4 7 B I L L I O N I N MAY.
REDUCED AUTO C R E D I T GROWTH ACCOUNTED FOR MOST OF THE SLOWING I N
THE OVERALL ADVANCE.
ON BALANCE, S I N C E FEBRUARY, THE MONTHLY GROWTH I N OUTSTANDINGS HAS
S T A B I L I Z E D I N THE $ 1 . 3 - 1 1 . 5 B I L L I O N RANGE REACHED LATE LAST YEAR.
EXTENSIONS OF CONSUMER C R E D I T INCREASED NEARLY 4 PERCENT FROM MAY, TO A RECORD
$ 1 5 . 5 9 B I L L I O N , BUT L I Q U I D A T I O N S ROSE SOMEWHAT MORE R A P I D L Y , R E S U L T I N G I N THE SMALLER
ADO I T I O N TO C R E O I T O U T S T A N D I N G .
THE INCREASE I N EXTENSIONS R E F L E C T E D STRONG G A I N S I N
• A L L OTHER" C R E D I T — R E T A I L STORE CREDIT AND MERCHANDISE-SECURED OR PERSONAL CASH LOANS
— AND ALSO A MODERATE R I S E I N AUTO C R E D I T .
MOBILE HOME E X T E N S I O N S REBOUNDED A U T T L E ,
BUT THE NET CHANGE I N SUCH C R E O I T OUTSTANDINGS REMAINED N E G A T I V E , AS I T HAS EACH MONTH
S I N C E NOVEMBER 1 9 7 4 , WITH THE E X C E P T I O N OF NOVEMBER 1 9 7 5 .
CONSUMER

INSTALMENT
(IN

INSTALMENT

AMOUNT

CREDIT,

TOTAL

I
I
I

15,5921

I
4,6001
272)

4101

7,429)

I
I

AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK C R E D I T CARD
OTHER REVOLVING 1 1 )
ALL OtHER
AMOUNT O U T S T A N D I N G ,
END OF MONTH

1,2

8
-11)
158)
128)
281
1,0761

14,016

(5)

(6)
(6)
(6)
(6)
(6)
(6)

110)
-34)
429)

I
I

I
I

r

)
)
«
32)
)

649)
31
76)

1,1831

I

I
II

(2)

I
i

2,563)

652 1
-551
701
193 |
441
5701

53,386
3,357
4,766
22,923
4,495
88,181

12,8051

14,595)

1,474)
I

1,3301
I
526|
-421
791
981
14)
655)

177,108

318!
448)
1,636)
2901
6,922)

I
I

13,5661

14,2611
I
1

NET CHANGE I N AMOUNT
OUTSTANDING:

«
14,037)
I
4,423)

8,368)

t
I

I
I

\

5121
2,138'.
43fe)

2,1031
4221

i
LATEST
|
12 MONTHS
KNOT SEAS.ADJ.)

17,1581
I
5,387)
317)

2311
385!

2,088|
4351
7,7861

LIQUIDATED

1976

I
t
1 JUNE 1 9 7 6 | JUNE 1 9 7 5
I
(NOT SEAS . A D J . )

I
15,0411
I
4,4711

I

EXTENDED:

JUNE

OF DOLLARS!

I
JUNE 1 9 7 6 | MAY
1976
(SEASONALLY A D J . )

AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK C R E D I T CARD
OTHER REVOLVING 4 1 )
ALL OTHER

AMOUNT

CREDIT -

MILLIONS

(2)

152 , 6 4 0 |

166,664)

HOLDER SHARES OF INSTALMENT CREDIT
(IN

HOLDER

COMMERCIAL BANKS
F I N A N C E COMPANIES
CREDIT UNIONS
RETAILERS ( 3 )
OTHERS ( 4 )

MONTH-END WARE OF OUTS1AN0INGS
(NOT SEASONALLY A D J . )
1 V 7 6 | JUNE 1 9 7 5
JUNE 1 9 7 6 1 MAY

1

I

1

)

)

1
1
)
1
1

46.7)
19.2 1
15.81
17.01
1.3|

48.0)
18.51
16.31
15.41
1.8|

4 7 . o|
2 0 . 01
14. 4 |
16 7 )
1 .9)

48*51
22.5)
16.71
10.0)
2.31

48. 6|
22 . 6 )
16 . 4 )
10 . 0 |
2 .4|

|

|

|

UU017

(SEASONALLY

|

)

FLOWS,

QUARTERLY

ADJUSTED ANNUAL

197611

)

I

I
182,7931
168,000|
14,7921

NOTE I

(6)

I

182,5411
165,6121
16,9291

«

(1)
(2)
(3)
(4)
(5)

19761

t

1975IV

|

1975III

I

I
177,6651
161,687)
15,9781

I

1 6 9 , 3 2 51
156,B58|

12,467|

)

1975II

49.1
22.9
15.2
10.5
2.3

|

AVERAGES

RATES)

(MILLIONS OF DOLLARS)

EXTENSIONS
LIQUIDATIONS
NET CHANGE




1
1
197 5)

1

INSTALMENT

TOTAL
INSTALMENT
CREOIT

PER CENT)

I
SHARE OF E X T E N S I O N S
1
(SEASONALLY A O J . )
1 JUNE 1 9 7 6 1 MAY
19 7 6 ) JUNE

)

I
156,185)
155,535)
650)

)

197611

I

I
15.6)
14. 1(
1.4)

)

AS PER CENT OF DISPOSABLE
PERSONAL 1NCUME
| 19751V
| 1V75III

1V761

I
15.9)
14.6)

1.31
I

CONSUMER INSTALMENT C R E O I T C O N S I S T S OF SHORT- AND I N l
fcRMEDIATl-TERM
CREDIT
EXTENDEO THROUGH REGULAR B U S I N E S S CHANNELS TO FINANCE THE PURCHASE OF GOOOS
AND S E R V I C E S FOR PERSONAL C O N S U M P T I O N , OR TO REFINANCE DEBTS INCURRED FOR
SUCH PURPOSES, AND SCHEDULED TO BE R E P A I D I N TWO OR MURE I N S T A L M E N T S .
MORTGAGE C R E D I T I S EXCLUDED.
BANK CHECK C R E D I T ANO OTHER BANK REVOLVING C R E O I T .
NOT A P P L I C A B L E .
R E T A I L STORES ANO CATALOG ORDER.
MUTUAL SAVINGS BANKS, S A V I N G S ANO LOAN A S S O C I A T I O N S , AND AUTO D E A L E R S .
A VALUE FOR THE UNAOJUSTED NET CHANGE I N OUTSTANDINGS APPEARS ALSO ON T H t NEXT
TO LAST COLUMN ON THE NEXT P A G E , BUT MAY VARY S L I G H T L Y , DUE TO D I F F E R E N T
AGGREGATION METHODS.
FOR VALUES SEE THE NEXT TO LAST COLUMN ON THE NEXT PAGE UNOER THE HEADING
•CHANGE FROM END OF JUNE 19 75 AMOUNT N . S . A . "

197511

I

)

15.9)
14.41

14.4)

1.4|
I

13.3)
1.11

)

14*4
14.3
•1

CONSUMER INSTALMENT CREDIT BY HOLDER AND TYPE -

JUNE 1976

( I N MILLIONS OF DOLLARS)

L I Q U I D A T E D
INSTALMENT CREDIT, BY
HOLDER AND TYPE

TOTAL

JUNE
1976
S.A.

MAY
1976
S.A.

JUNE
1975
S.A.

JLNE
1976
N.S.A*.

NET
CHG
JUNE
1976
S.A.

O U T S T A N D I N G

(1)

END OF
JUNE
1976
N.S.A.

CHANGE FROM END
OF JUNE 1975
PER
AMOUNT
CENT
N .S .A . I
i*»,024

9.2

14,261

13,566

12,738

14,595

1330

166,664

6,879
2,756
1,974
2,436
216

6,510
2,619
1,927
2,308
202

6,079
2,536
1,620
2,301
195

7,027
2,930
2,036
2 ,372
230

409
230
48 2
214
-5

80,850
37,490
27,842
16,633
3,849

5,925
2,543
4,t>56 I
554
346

7.9
7.3
20.1
3.4
9.9

4,074

3,819

3,727

4,204

526

£6,667

6,539 !

13.0

2,432
1,354
1,077

2,276

2,497
1,390

973
792

2,293
1,323
970
684

711

713

39

36

853
812
42

229
32
197
116
186
-4

33,269
1 8 , 9 12
14,358
12,333
10,601
464

2,934
880
2,054 1
1,789 1
1,778
38 l

9.7
4.9
16.7
17.0
20.2
8.9

247
66

219
67

240
72

2 55
73

-42

8,390
3*343

- 3 96 I
-118 I

-4.5
-3.4

330

314

359

354

79

8,367

688

9.0

206

197

202

219

29

5,129

365

7.7

1,990
421

1,911
378

1,555
330

2,0O9
407

98
14

9,531
2,805

1,291
211

15.7
8.1

7,132

6,859

6,456

7,292

655

77,561

5,811

8.1

1,585
1,135
1,866
1,546
1,158
2,436
87

1,529
1,091
1,758
1,445
1,185
2,308
79

1,458
1,027
1,739
1,358
885
2,301
72

1,639
1,168
2,000
1,649
1,189
2,372
92

81
86
115
95
282
214
-38

21,726
15,034
21,675
17,811
16,402
16,633
1,125

1,522
1,254
885
1,096|
2,737!
554
113

BY HOLDER
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS
(2)
OTHERS
(3)
BY CREOIT TYPE
AUTOMOBILE, TOTAL
COMMERCIAL BANKS
INDIRECT PAPER
DIRECT LOANS
FINANCE COMPANIES
CREDIT UNIONS
OTHERS
(3)

819
783!
40

1,303

1,107

MOBILE HOME
COMMERCIAL BANKS
FINANCE COMPANIES
HOME- IMPROVEMENT, TOTAL
COMMERCIAL BANKS
REVOLVING
BANK CREDIT CARD
BANK CHECK CREDIT
ALL OTHER, TOTAL
COMM. BANKS, TOTAL
PERSONAL LOANS
FINANCE C O S . , TOTAL
PERSONAL LOANS
CREDIT UNIONS
RETAILERS
OTHERS
(1)
(2)
(3)

NET CHANGES FOR ALL MONTHS EQUAL EXTENSIONS MINUS LIQUIDATIONS (REPAYMENTS, CHARGEOFFS, AND OTHER C R E D I T S ) .
EXCLUDES 30-DAY CHARGE CREOIT HELD BY RETAILERS, OIL AND GAS COMPANIES, AND TRAVEL AND ENTERTAINMENT COMPANIES
AMOUNTING TO $ 2 1 4 1 MILLION AT THE END OF JUNE. THIS REPRESENTS A DECREASE OF $ 1 MILLION FROM THE END OF
MAY ON A SEASONALLY ADJUSTED BASIS AND AN INCREASE OF S39 MILLION ON AN LNADJUSTED BASIS.
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 M I L L I O N , OR LESS THAN 0 . 0 5

PERCENT, AS APPLICABLE.

7.5
9.1
4.3
6.6
20.0
3.4
11.2

REVISED CONSUMER INSTALMENT CREDIT DATA (August 1976)
Aggregate figures covering the seasonally adjusted extensions,
liquidations, and net change of consumer instalment credit along with the
actual amount outstanding at month end are presented below for the period
from January 1970 through June 1976.
Data for 1970 have been added to the previously published
benchmark revision of data on consumer instalment credit 9 and some
revisions have been made for 1975 and for 1976 through April.
A complete set of the revised data making up the components
of these aggregates is available on request from:
Mortgage and Consumer Finance Section
Division of Research and Statistics
Board of Governors of the Federal Reserve System
Washington, D.C. 20551

CONSUMER INSTALMENT CREDIT

1970-JAN... 1
-FEB... 1
••MA R • • •I
-APR... 1
-MAY...
-JUN... 1
-JUL... !
-AUG...
-SEP... 1
-OCT.,.|
-NOV...
-DEC...I
1971-JAN... 1
-FEB...
•MAR••• 1
-APR...I
-MAY...!
-JUN... 1
-JUL...!
-AUG...!
-SEP...|
-OCT...|
-NOV...|
-DEC...1




EXTENSIONS
9354.
9268.
9043.
9046.
9366.
9309.
9883.
9417.
9454.
9325.
9021.
9484.

SEASONALLY ADJUSTED
LIQUINET
DATIONS
r CHANGE mi
1
88 557"1
499. f
1
8778. I
490. I
I
8784. 1
258. |1
1
8725. 1
321. I
1
9020. 1
346. 1
I
8870 » 1
440. 1
1
9353. 1
530. I
1
8964.
453. 1
1
8921. 1
534. 1
9130.
195. 1
9038. 1
-16. 1
9063. 1
421. 1

9247. 1
9709. 1
9892. |
10047. !
9887. |1
10101. 1
9983. 1
10 389. 1
10775. I
10690. 1
11119. |
11006. |

9094.
9203. 1
9272. 1
9337. |
9319.
9572. 1
9299. 1
9517. |
9704. |
9727. |
9900. |
9941. |

153. I
506. 11
620. 11
710. |
567. 1
529. 1
684. 1
873. 1
1071. I
964. |
1219. |
1064. |

0V1-

STANDINGS
96327.
95848.
95621.
96140.
96699.
97836.
98654.
99455.
100030.
100141.
100186.
101898.
100733.
100262.
100351.
101296.
102134.
103396.
104310.
105690.
106837.
107563.
108947.
111195.




CONSUMER INSTALMENT CREDIT

EXTENSIONS

SEASONALLY ADJUSTED
LIQUINET
DAT IONS
CHANGE

OUTSTANDINGS

1

1972-JAN...|
-FEB.*.I
-MAR...I
-APR...|
-MAY...|
-JUN...I
-JUL^.I
-AUG...I
-SEP...I
-OCT...I
-NOV...I
-DEC...I

11153.
11080.
11516.
11387.
11396.
11650.
11361.
11803.
11796.
12038.
12444.
12780.

1
1
1
1
1
f
1
1
1
1
1
1

9977.
10012.
10128.
10160.
10145.
10380.
10309.
10485.
10555.
10747.
10913.
10898.

1
1
1
1
i
1
1
1
1
1
1
1

1176.
1068.
1389.
1226.
1251.
1270.
1052.
1318.
1241.
1291.
1531.
1882.

1973-JAN...I
-FEB...I
-MAR...I
-APR...I
-MAY...|
-JUN...I
-JUL...I
-AUG...I
-SEP...I
-OCT...I
-NOV...I
-DEC...I

12965.
13259.
13520.
13005.
13228.
13297.
13802.
13404.
13365.
13788.
13571.
12991.

1
1
1
1
1
1
1
1
1
!
1

11079.
11169.
11528.
11473.
11539.
11660.
11902.
11905.
11950.
12024.
12228.
12085.

1
1
1
1
i
1
!
1

1887. 1 126720. I
2090. 1 127404. |
1992. 1 128752. I
1533. 1 130403. |
1689. 1 132851. I
1637. 1 135435. |
1899. i 137446. |
1500. 1 139919. |
1415.
141194. |
1765. 1 142846. |
1343.
144425. |
906. 1
144434. |

1974-JAN...I
-FEB...I
-MAR...I
-APR...I
-JUL...I
-AUG...I
-SEP...I
-OCT...I
-NOV...I
-OEC...I
|
1975-JAN...I
-FEB...I
-MAR...I
-APR...I
-MAY...I
-JUN...I
-JUL...I
-AUG...I
-SEP...I
-OCT...I
-NOV...I
-DEC...I

13349.
13335.
13333. |
13547.
13821. 1
13648. I
13772. |
13848. 1
13387. I
12942. |
12101. |
12717. I

12344.
12239.
12625. |
12528.
12681. |
12565. |
12661. |
12555. I
12631. |
12 729. |
12510. |
13126. |

1005.
1096.
708.
1018.
1140.
1082.
1111.
1293.
756.
213.
-409.
-409.

1
1
!
1
I
|
I
1
I
1
|
I

145549.
145292.
145022.
146268.
148129.
149912.
151362.
153711.
154467.
154509.
154361.
155384.

|
I
|
|
|
|
|
|
I
|
|
|

12435.
12937.
12593.
12837.
13022.
13187.
14089.
14048.
14194.
14609.
14579.
15228.

|
|
|
|
|
|
|
I
|
|
|
|

12581.
12621.
12860.
12820.
13325.
12738.
12803.
13211.
13201.
13429.
13255.
13738.

!
|
|
|
|
|
|
I
|
I
|
1

-146.
317.
-266.
17.
-302.
448.
1286.
838.
993.
1181.
1324.
1490.

|
I
I
|
I
I
I
|
1
|
|
I

153363.
152397.
151100.
151120.
151409.
152640.
154520.
156200.
157448.
158185.
159216.
162237.

I
|
I
|
|
|
|
I
|
|
|
I

1976-JAN...|
-FEB...I
-MAR...I
-APR...I
-MAY...I
-JUN...I

15132.
15045.
15521.
15003.
15041.
15592.

|
|
I
I
|
|

14029.
13923.
14048.
13576.
13566.
14261.

|
I
I
I
I
|

1103.
1123.
1473.
1427.
1474.
1330.

|
i
I
1
|
|

160824.
160402.
160729.
162334.
164101.
166664.

|
|
|
|
|
|

J

—M A Y • • . 1
-JUN...f

1
1

I
1
1
1
I
I
1
1
1
1
1
1

110573.
110503.
111300.
112564.
114409.
116621.
117790.
119942.
121293.
122329.
124060.
126756.

|
I
|
|
|
1
I
|
|
|
|
|