Full text of G.19 Consumer Credit : August 6, 1993

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FEDERAL RESERVE statistical release
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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

For immediate release
August 6, 1993

G. 19
CONSUMER INSTALLMENT CREDIT
June 1993

Consumer installment credit outstanding increased $7.7 billion in June, following an $0.8 billion decline in May. The
growth in June occurred in all three types of credit: auto, revolving, and "other."
Data on outstanding installment credit have been revised back to January 1993 to incorporate more complete
information on consumer borrowing at savings institutions.
MONTHLY CHANGE IN CREDIT OUTSTANDING1
Seasonally adjusted
Amount
(millions of dollars)
Type of credit
1993
Apr. r
May r
-752
1,467
Total
2,182
^98
Automobile
552
Revolving
1,307
Other2
-3,486
659

Annual rate
(percent)
1993
May r
-1.2
10.0
2.5
-18.3

Apr. r
2.3
-2.3
6.0
3.5

June?
7,670
2,201
2,858
2,611

TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES3
Percent except as noted, not seasonally adjusted
1992
Institution, terms, and type of loan
May
June
Nov.
Feb.
Commercial banks
Interest rates
48-mo. new car loan
24-mo. personal loan
120-mo. mobile home loan
Credit card plan
Auto finance companies
Interest rates
New car
Used car
Maturity (months)
New car
Used car
Loan-to-value ratio
New car
Used car
Amount financed (dollars)
New car
Used car
Notes appear on reverse.




JuneP
12.3
10.0
13.1
13.9

1993
May

June

9.52
14.28
12.82
17.97

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

8.60
13.55
12.36
17.38

8.57
13.57
12.38
17.26

8.17
13.63
12.00
17.15

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

10.67
14.01

10.24
13.89

9.65
13.37

10.32
13.90

9.51
12.61

9.45
12.55

54.7
47.9

54.4
48.0

54.1
47.8

54.3
49.0

54.4
48.9

54.6
49.0

89
97

89
97

89
97

91
98

91
98

91
98

13,373
9,247

13,369
9,201

14,043
9,475

13,849
9,457

14,146
9,829

14,296
9,912

CONSUMER INSTALLMENT CREDIT OUTSTANDING
(Millions of dollars)
1993

1992

Type of credit and holder

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

r

Feb.

r

Mar.

r

Apr. r

May r

June P

Seasonally adjusted

Total
Automobile
Revolving
Other2

730866
257989
248795
224081

730496
258259
248980
223257

731023
258827
249384
222812

733023
259433
250456
223135

734195
258208
251806
224181

736023
258860
252086
225077

741093
259627
254299
227167

743584
258737
255984
228863

747228
261434
258384
227410

750151
262324
259661
228166

751619
261826
260968
228824

750867
264008
261520
225338

758537
266209
264379
227949

Not seasonally adjusted

Total
Major holders
Commercial banks
Finance companies
Credit unions
Savings institutions
Retailers
Gasoline companies
Pools of securitized assets4
Major types of credit5
Automobile
Commercial banks
Finance companies
Pools of securitized assets4
Revolving
Commercial banks
Retailers
Gasoline companies
Pools of securitized assets4
Other
Commercial banks
Finance companies
Retailers
Pools of securitized assets4

727478

726917

731954

734884

734766

737651

756944

748530

745374

743153

745882

745356

754907

326502
116661
91,995
41,768
35,415
4,360
110776

326849
117024
92,248
41,813
34,646
4,506
109831

327170
117230
93,360
41,932
35,943
4,542
111777

327437
116669
94,644
41,317
35,925
4,499
114393

326472
116359
95,517
42,031
36,441
4,452
113494

325149
116558
96,092
42,746
36,678
4,365
116063

331869
117127
97,641
43,461
42,079
4,365
120402

330355
116009
98,261
42,805
40,057
4,366
116677

330060
112686
98,785
41,976
38,462
4,148
119257

329764
111854
99,778
41,695
38,030
4,080
117952

331649
112523
101534
40,378
38,218
4,280
117300

333314
109311
103019
40,079
38,681
4,486
116466

339215
111330
104766
39,864
38,813
4,614
116305

257973
109212
60,056
31,029
246596
127700
30,319
4,360
67,403
222909
89,590
56,606
5,096
12,344

258457
110490
60,400
29,966
246332
127574
29,532
4,506
67',773
222128
88,785
56,624
5,114
12,092

260564
111048
60,393
31,132
248386
127063
30,797
4,542
68,805
223005
89,059
56,838
5,146
11,840

262042
111646
59,806
32,283
249421
126971
30,763
4,499
69,901
223422
88,820
56,864
5,162
12,209

260201
110447
59,290
32,065
249983
126992
31,254
4,452
69,285
224581
89,033
57,068
5,187
12,144

259148
109459
58,386
32,979
252877
127481
31,444
4,365
70,889
225626
88,209
58,172
5,234
12,195

259964
109743
57,605
33,878
267949
132582
36,629
4,365
74,243
229031
89,544
59,522
5,450
12,281

258017
109671
57,165
32,388
260758
129567
34,666
4,366
71,927
229755
91,117
58,844
5,391
12,362

259830
111005
54,036
36,031
257440
127877
33,110
4,148
72,024
228105
91,178
58,651
5,352
11,202

259956
111287
53,508
36,096
256233
128079
32,681
4,080
70,890
226964
90,398
58,346
5,349
10,966

260224
111351
53,977
36,178
257308
129464
32,838
4,280
69,919
228350
90,834
58,546
5,380
11,203

262861
113322
53,878
36,431
258410
130531
33,254
4,486
69,054
224085
89,461
55,433
5,427
10,981

266166
116006
55,592
34,701
262024
131824
33,328
4,614
70,842
226716
91,385
55,737
5,485
10,762

1. 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.
2. Comprises mobile home loans and all other installment loans not included in automobile or revolving credit, such as loans for education, boats, trailers, or vacations. These loans may be secured or unsecured.
3. Interest rates are annual percentage rates as specified by the Federal Reserve's Regulation Z. Interest rates 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. 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.
4. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators.
5. Includes estimates for holders that do not separately report consumer credit holding by type,
= revised, p = preliminary.
Digitized forr FRASER