Full text of G.19 Consumer Credit : August 6, 1979

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.^B^Sfe-

FEDERAL RESERVE
statistical release

'••f*5l5?*V-

FOR IMMEDIATE RELEASE
AUGUST 6 , 1979

G.19 ( 4 2 1 )

CONSUMER INSTALLMENT CREDIT - JUNE 1979
CONSUMER INSTALLMENT CREDIT OUTSTANDING INCREASED I N JUNE BY $ 2 , 8 8 B I L L I O N ,
SEASONALLY AOJUSTEDf THE SMALLEST GAIN OF THE YEAR. THE ANNUAL RATE OF GROWTH DROPPED
TO 12 PER CENT FROM 16 PER CENT I N MAY, WELL BELOW THE 19 PER CFNT RATE OF ADVANCE FOR
ALL OF LAST YEAR.
EXTENSIONS OF CREDIT AND LIQUIDATIONS OF EXISTING DEBT BOTH OECLINED I N JUNE,
SEASONALLY AOJUSTED EXTENSIONS WERE $ 2 6 . 6 B I L L I O N , THE LOWEST VOLUME SINCE FEBRUARY,
AND LIQUIDATIONS WERE $ 2 3 . 8 B I L L I O N .
BOTH EXTENSIONS AND LIQUIDATIONS OF AUTO CREDIT
WERE SHARPLY LOWER, RESULTING I N NET GROWTH OF $ 1 . 1 6 B I L L I O N , LITTLE CHANGED FROM
THE MAY PACE. MOST OF THE SLOWOOWN I N THE RATE OF GRDWTH OF CREDIT OUTSTANDING OCCURRED
IN THE LARGE "OTHER" CREDIT CATEGO*Y—-WHICH INCLUDES PERSONAL CASH LOANS AND SECURED
FINANCING OF NON-AUTOMOTIVE DURABLE CONSUMER GOODS—WHERE EXTENSIONS DROPPED AND
LIQUIDATIONS ROSE.
MEANWHILE, GROWTH OF REVOLVING CREDIT INCREASED SOMEWHAT, BUT
MOBILE HOME CREDIT DECLINED.

( I N MILLIONS OF DOLLARS)

1 JUNE 1979 | MAY 1979
1 (SEASONALLY .ADJ. J

INSTALLMENT CREDIT
—

—. i -

— -1-

AMOUNT EXTENDED:

1
I
1

AUTOMOBILE
REVOLVING (11
MOBILE HOME
OTHER

1
I
I
1
1
1
1
1

AMOUNT LIQUIDATED

n, _ , „ ^ - .. -

26,644!
i

7,471|
10,1361
5521
8,4851

23,7631

2 8,5661
i

i

8,2271
10,1701
659f
8,971!

8,5251
10,1071
6061
9,328!

1
1
24,295!

\i
I
2,8811

1
1
I

1 .

1 "
28,027|

1
I

1

NET CHANGE IN AMOUNT
OUTSTANDING:

"

| JUNE 1979 I JUNE 1978 fLATEST 12 MONTHS
(NOT SEAS. ADJ.)
11 NOT SEAS.ADJ.)
!

!
!

1
1
!
1
1
1
1

AMOUNT OUTSTANDING,
END OF MONTH

«

3,732!

4,886!

1
i

6,494!

i

i

1,225!
746!
235!
1,5261

I
1

1
1
J

|

(2)

2,212!
969(
159!
It546!

1
1
292,4811

92,433
112,190
6,197
102,467

!
I
21,7501

1,1551
7961
107|
823(

(2)

8,9781
9,1211
589|
9,5561

23,680!

i

313,287

i

1
!

1

AUTOMOBILE
REVOLVING (1)
MOBILE HOME
OTHER

28,244!

2,9021
1,034|
136|
2,4221

270,662

42,625

(3)

(4)
(4)
(4)
(4)

i

I

1

249,8651

(2)

INSTALLMENT CREOIT FLOWS, QUARTERLY AVERAGES
(SEASONALLY ADJUSTEO ANNUAL RATES1
TOTAL
INSTALLMENT
CREDIT

(MILLIONS OF DOLLARS)
1979II

EXTENSIONS
LIQUIDATIONS
NET CHANGE




! 19791

326,2401
283,636!
42,604!

I 19T8IV

313,776!
273,3761
40,4001

1 1978III

312,8601
266,3961
46,464!

I 1978II

304,9121
261,8001
43,ll2|

1
1 1979II

301,404(
251,032!
50,3721

AS PERCENT OF DISPOSABLE
PERSONAL INCOME
! 19791
I 1978IV
! 1978III

20.41
17.7\
2.7!

20.01
17.41
2.6l

20.51
17.51
3.01

! 1978II

20*71
17.71
2.91

NOTE: THE BOARD'S SERIES COVERS MOST SHORT- ANO INTERMEOIATE-TERN CREOIT EXTENDED
TO INDIVIDUALS THROUGH REGULAR BUSINESS CHANNELS, USUALLY TO FINANCE THE
PURCHASE OF CONSUMER GOODS ANO SERVICES OR TO REFINANCE DEBTS INCURRED FOR
SUCH PURPOSES, AND SCHEDULED TO BE REPAID (OR WITH THE OPTION OF REPAYMENT)
I N TWO OR MORE INSTALLMENTS.
DETAILS MAY NOT ADO TO TOTALS DUE TO ROUNDING.
CREDIT CARDS AT RETAILERS, GASOLINE COMPANIES ANO COMMERCIAL BANKS, ANO
(1)
CHECK CREDIT AT COMMERCIAL BANKS.
NOT APPLICABLE OR NOT AVAILABLE.
(2)
(3)
A VALUE FOR THE UNADJUSTED NET CHANGE I N OUTSTANDINGS APPEARS ALSO ON THE NEXT
TO LAST COLUMN ON THE NEXT PAGEt BUT MAY VARY SLIGHTLY, DUE TO DIFFERENT
AGGREGATION METHODS.
(4)
FOR VALUES SEE THE NEXT TO LAST COLUMN ON THE NEXT PAGE UNOER THE HEADING
"CHANGE FROM END OF JUNE 1978 AMOUNT N . S . A . "

21.0
17.5
3.5

CONSUMER INSTALLMENT CREDIT BY HOLDER AND TYPE
UN

MILLIONS OF DOLLARS)

E X T E N D E D
INSTALLMENT

1
1
t

1

t

I

26,6441

TOTAL

BY MAJOR HOLDER
COMMERCIAL BANKS
F I N A N C E COMPANIES
C R E D I T UNIONS
RETAILERS ( 2 )
SAVINGS ANO LOANS
GASOLINE COMPANIES
MUTUAL SAVINGS BANKS
BY MAJOR C R E D I T

TYPE

1
1
1
1

1
1
1
1

I
1
1
1
1
1

12»785|
4,639|
2,9861
3,853!
6821
lt589|

1

not

1

1i

1
1

AUTOMOBILE

I
|
!

JUNE
1979
S.A.

!
f

1

COMMERCIAL BANKS
F I N A N C E COMPANIES
SAVINGS AND LOANS
C R E D I T UNIONS

|

25,565!

13,499!
5,2131
3,124!
3,721!
723!
1,613!
134!
I1
1
I
8,2271
j
4,648!
2,5411
2,107!
1,566!
2,013!

I
|
!

, !!
1,-

28,566||

1
I
1
1
12,382!
4,223!
3,4451
3,552!
379!
1,351!
233!

13,6061!
5 ,216f |
3,48111
3,82211
66811
1,6531!
1201!

II
II
II
7,595!

MAY
1979
S.A.

I
I
|

23,7631

24,295!

JUNE
!
I
1979
! N.S.A.

21,358!

2 3 , 6 8 0 ! 1 28811 !

11,837!
3,8911
3,000!
3,4381
4431
1,517!
1 6 9:1

i

9,9951
3,599|
2,648!
3,318!
322|
1,331!
1451

11,1111
4,0721
2,835!
3,5711
444|
1,486!
161!

1 14961 I
1
724|1
1 144| I
!
288|!
1 240| I
39| 1
I
-50( 1

I
I

4,0151
2,144!
1,871!
1,5061
1.481!

573|
541|
32|
45|
537|

i

3,7561
1.991J
1,765!
1,4131
1,1441

I!

|

3,5121
1,9181
1,594!
1,3181
1,123!

9,340|

9,4241

8,107!

9,1381

4,451!
3,2601
1,351!

10,1071!
1!
5,10711
3,34711
1,65311

3,850!
2,926!
1,331!

4,509!
3,14311
1,4861

6591

60611

I

j

510!

309!
59|
167!
17!
1

411!
49!
182!
17!

327!
73|
90!
20!

6,316|

II

4,541!
2,505!
2,036|
1,667!
1,387!

4,8381!
2,82311
2,0151!
1,7221!
1,965||

9,062!

1

10,170!

!

1

5,1661
3,3811
1,5891
1
5521

5,2851
3,272!
1,613!
1

I!

i

8,4851

j

8,971|
j

8,3981

1
COMMERCIAL BANKS
FINANCE COMPANIES
1
C R E D I T UNIONS
1
RETAILERS
1
SAVINGS AND LOANS
1
MUTUAL SAVINGS BANKS I

2,963!
2,9411
1,484|
472!
515!
1101

3,155!
3,151!
1,541!
4491
541!
134!

3,063!
2,763!
1,758!
292!
289!
2331

n
35111
6511
16811
22f|
1!
9,3281!

II
3,3101!
3,1861!
1,73711
4751!
50011
12011

1
4,6721
3,1181
1,550!
i

!
!
1
1
1

144,545 1 20,4651
6 1 , 1 1 11 1 2 , 4 7 4 !
47,478 1
5,542!
23,6721
1,859!
9,2901
1,526!
3,7041
5191
2,681 1
2311

16.5
25.6
13.2
8.5
19.7
16.3
9.4

111,373

19.4

18,112!

64,923 1
36,701
28,222
22,703
23,747

9,169!
5,573!
3,5961
2,6491
6,294!

16.4
17.9
14.6
13.2
36.1

7961 1

47,456

7,455!

18.6

494| !
2631 1
39| !

25,650 1
18,1021
3,704

5,515!
1,421!
5191

27.4
8.5
16.3

107| I

16,612

1,080!

7.0

3781
1261
5181
58!

4.0
4.1
19.7
13.0

15,9691

15.8

5,4031
6,0541
2,8351
438!
1,008!
2311

13.9
21.5
13.2
8.5
19.6
9.4

!
4,870!
3,037|
1,5171
i

445|
1

424|
I

4401

4471

2921
451
931
151

2B6!
351
881
151
1

2771
72!
78|
13!

289|
5111
921 1
15! i

7,6621

7,4451
j

6,858!

7,782!!

823| I

i

2,5511
2,768!
l,387|
447|
3491
160!

2,6661
2,375!
1,479!
401!
355!
169!

2,356!
2,4041
1,317!
3921
244|
145!

2,5571 I
2,8771|
1,407!!
4281 !
352? |
1611 !

412!
173|
97!
25|
166|
~*>0|

1

17.1

1

1
!

8,525||

42,6161

292,481 I

1
1
I
!

1
!
1
1
11,2891
3,915|
2,8421
3,5651
4421
1,550!
1601
i
I

JUNE
1978
S.A.

1

1

II
II
1!
II

!

OTHER

CD
(2)

1
!

28,0271

_

JUNE
1979
S.A.

3,774!
2,010|
1,764|
1,440!
1,102|

f

MOBILE HOME

1

|!
||
||

NET ! I 0 U T S T A N D I N G
CHG |
J U N E ! 1 END OF ICHANGE FROM END
1979! I
JUNE
1 OF JUNF 1 9 7 8
1979
S.A.I 1
1 AMOUNT!
PERCENT
( 1 ) I I N.S.A. 1 N.S.A. |

6,3131 1 1155| I

2,5511
1,796!
1,4351
1,639!

1

I
JUNE
1979
!
! N.S.A.

1
I
I !
| I
1 1
!

5,9531

10,136j

COMMERCIAL BANKS
RETAILERS
GASOLINE COMPANIES

JUNE
1978
S.A.

D A T E D

j

4 , 3 4 7 !1

REVOLVING

!
|
!

Q U I

7,0021
j

7,471!

COMMERCIAL BANKS
I N D I R E C T PAPER
D I R E C T LOANS
CREDIT UNIONS
FINANCE COMPANIES

MAY
1979
S.A.

L I

(1
1|-

CREDIT BY

HOLOER ANO TYPE

JUNE 1979

171
14|
74|
2|

I
1
1
I

!
!
1
!
!
t

9,764
3,191|
3,152
5051
117,040
44,208
34,1731
24,2701
5,5701
6,1381
2,6811

NET CHAN6ES FOR ALL MONTHS EQUAL EXTENSIONS MINUS LIQUIDATIONS (REPAYMENTS, CHARGEOH^S, AND OTHtR CREDITS).
INCLUDES AUTO DEALERS AND EXCLUDES 30-DAY CHARGE CREDIT HELD BY RETAILERS AND BY TRAVEL AND ENTERTAINMENT COMPANIES,
NOTE:




S . A . ANO N . S . A . DENOTE SEASONALLY ADJUSTED AND NOT SEASONALLY ADJUSTED DATA,
O F T A I I S MAY NflT

Ann T f l TOTdl c fM«p rn

ortHMHTMr

RESPECTIVELY.