Full text of G.19 Consumer Credit : August 7, 1980

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FEDERAL RESERVE statistical release
FOR IMMEDIATE RELEASE
AUGUST 7, 1980

6.19 (421)

C O N S U I B R INSTALLMENT CREDIT - JUNE 19 80
CONSUMER INSTALLMENT CREDIT OUTSTANDING DECLINED IN JUNE BY A RECORD
$3.46 BILLION, SEASONALLY ADJUSTED, OR AT AN ANNUAL RATE OF 13-1/2 PERCENT. THE
DECLINE IN JUNE SLIGHTLY EXCEEDED THE $3.43 BILLION DROP IN HAY, AND WAS THE THIRD
MONTHLY DECLINE IN A RON AFTER ALLOWANCE FOR SEASONAL INFLUENCES.
EXTENSIONS OF INSTALLMENT CREDIT, TOTALING $20.70 BILLION IN JUNE, HERE
DOWN FURTHER FROM THE REDUCED MAY VOLUME OF $21.24 BILLION, AS SEASONALLY ADJUSTED
DECLINES IN AUTO AND REVOLVING CREDIT EXTENSIONS OUTWEIGHED GAINS IN THE MOBILE
HOME AND "OTHER" CREDIT CATEGORIES. CREDIT LIQUIDATIONS ALSO DECLINED, FALLING
IN JUNE TO $24.16 BILLION FROM $24.67 BILLION IN MAY.

(IN MILLIONS OF DOLLARS)
JUNE 1980 | HAY 1980 | JUNE 1980 ! JUNE 1979 !LATEST 12 MONTHS
| (NOT SEAS.ADJ.)
(NOT SEAS. ADJ.)
(SEASONALLY ADJ.)
|

INSTALLMENT CREDIT

20,698!

AMOUNT EXTENDED:

21,2391

I

AUTOMOBILE
REVOLVING (1)
MOBILE HOME
OTHER

ft.770|
9,635!
464|
5,829!
I
I
24,161|
!
J
-3,463!
I
-1,738|
-748J
97|
-1,074|
I
1
(2)
I

AMOUNT LIQUIDATED
NET CHANGE IN AMOUNT
OUTSTANDING:
AUTOMOBILE
REVOLVING (1)
MOBILE HCHE
OTHER
AMOUNT OUTSTANDING,
END OF MONTH

1
5,192|
10,089|
324|
5,634|

22,014!

28,023|

I

I

5,504|
9,740!
519!
6,251!

8,210|
10,107|
601|
9,105|
I
I
23,4821
!

!
I

I
I

24,395!

24,673|

1
1

!
I

-3,434|
I
-U343I
-488|
-33|
-1,570!
I
1
(2)
I

I

306,156
82,799
124,372
6,074
92,911
296,630
9,526

(3)

4,541!

I

-2,381!
-1,1*5!
-577|
136!
-795J

1,719!
969J
154J
1,699!

I
I

291,856!

I

W
W
W
(2)

301,378!
INSTAILMENT CREDIT FLOWS, QUARTERLY AVERAGES
(SEASONALLY ADJUSTED ANNUAL RATES)
TOTAL
INSTALLMENT
CREEIT

(MILLIONS OF DOLLARS)
1980II

EXTEHSICNS
LIQUIDATIONS
NET CHANGE




| 19801

257,940!
293,468!
-35,5281

| 1979IV
1979IV

321,592!
301,176|
20,416!

\ 1979III J 1979II

319,320!
295,552!
23,768|

332,260!
294,920!
37,340|

|
!
! 1980II

324,196!
284,320!
39,876|

AS PERCENT OF DISPOSABLE
PERSONAL INCOME
! 19801
! 1979IV ! 1979III ! 1979II

14.7J
16.7J
-2.0J

18.5J
17.3|
1.2J

19.OJ
17.6|
1.4J

20.3J
18.0J
2.3|

NOTE: THE BOARD'S SERIES COVERS HOST SHORT- AND INTERMEDIATE-TERM CREDIT EXTENDED
TO INDIVIDUALS THROUGH REGULAR BUSINESS CHANNELS, USUALLY TO FINANCE THE
PURCHASE OF CONSUMER GOODS AND SERVICES OR TO REFINANCE DEBTS INCURRED FOR
SUCH PURPOSES, AND SCHEDULED TO BE REPAID (OR WITH THE OPTION OF REPAYMENT)
IN TWO OR MORE INSTALLMENTS. DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING.
CREDIT CARDS AT RETAILERS, GASOLINE COMPANIES AND COMMERCIAL BANKS, AND
(1)
CHECK CREDIT AT COMMERCIAL BANKS.
NOT APPLICABLE OR NOT AVAILABLE.
(2)
A VALUE FOR THE UNADJUSTED NET CHANGE IN OUTSTANDINGS APPEARS ALSO ON THE NEXT
(3)
TO LAST COLUMN ON THE NEXT PAGE, BUT MAY VARY SLIGHTLY, DUE TO DIFFERENT
AGGREGATION METHODS.
(*) FOR VALUES SEE THE NEXT TO LAST COLUMN ON THE NEXT PAGE UNDER THE HEADING
"CHANGE FROM END OF JUNE 1979 AMOUNT N.S.A."

20.2
17.8
2.5

CONSUMER INSTALLMENT CREDIT BY HOLDER AND TYPE -

JUNE 1980

(IN MILLIONS OF DOLLARS)

——————————————————— —
'- —
- ——————-. — — _ — — « . .

E X T E N D E D

L I Q U I D A T E

1

INSTALLMENT CREDIT BY
HOLDEB AND TYPE

!
|
!

JUNE
1980
S.A.

I

20,698J

21,2391

1
1
I
1
1

8,5741
4,324)
1,302|
3,881|
576|
1,9711
701

8,812|
4,3041
1,6151
3,880|
536J
2,0111
81|

TOTAL

1
|
3

MAY
1980
S.A.

1
|
|

JUNE
1979
S.A.

I

26,139

JUNE
1980
N.S.A.

1
| |
| I

JUNE
1980
S.A.

1
|
I

MAY
1980
S.A.

1
1
|

JUNE
1979
S.A.

r>

1 1 NET 1 1 0 U T S T A N D I N S

1 CHG 1
I
JUNE
| 1 J U N E | ! END OF
I
1980
1 1 1980| |
JUNE
! N.S.A. 1| S.A.| |
1980
1 d) I ! N.S.A.

|CHANGE PROM END
I OF JUNE 1 9 7 9
| AMOUNT l
PEPI N . S . A . I CENT

22,0141 |

24,1611

24,673|

23,581 I

24,395» I-34631 I 301,378 I

9,0271
4,897J
1,506|
3,9131 |
559| |
2,044|
681

11,2331
3,6991
2,664|
3,989|
4871
1,9631
126|

11,3071
4,1991
2,592|
3,938|
461)
2,053|
123|

11,294
3,728
2,842
3,565
442
1,550
160

11,2791 I-26591
140,922 |
3,880|1
73,118l
625| |
2,6741 | - 1 3 6 2 | |
43,740|
3,9811I - 1 0 8 | I
25,724 I
493| 1
10,995 I
891
1,961| 1
4,664 |
8|
1271 1
-56|
2,215

9,522 |

3.3

BY MAJOR HOLDER
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS (2)
SAYINGS AND LOANS
GASOLINE CCHPANIES
MUTUAL SAVINGS BANKS

12,278
4,641
2,986 1
3,853 1
682
1,589
110

I
1
1
1
1

-3,113 I
-2.2
19.9
12,122 |
-3,738I
-7.9
8.7
2,052 I
18.4
1,705
25.9
960 I
-17.4
-466

3Y MAJOF CREDIT TYPE
AUTOMOBILE
COMMERCIAL BANKS
INDIRECT PAPER
DIRECT LOANS
CREDIT UNIONS
FINANCE COMPANIES

1
|

REVOLVING
COMMERCIAL BANKS
RETAILERS
GASOLINE COMPANIES

1

MOBILE HONE
COMMEBCIAL BANKS
FINANCE COMPANIES
SAVINGS AND LOANS
CREDIT UNIONS

1

OTHER
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS
|
SAVINGS AND LOANS
MUTUAL SAVINGS BANKS ]

(1)
(2)




4,7701

5,1921

7,178

5,5041

6,5081

6,535|

6,488

6 , 6 4 9 | 1-1738J

2,1601
1,0921
1,068|
708|
1,9021

2,354|
1,3531
1,001|
838|
2,0001

3,952
2,146
1,806
1,485
1,741

2,3991
1,2031
1,1961
820|
2,285|

3,679|
2,0371
1,642|
1,368|
1,461|

3,600|
1,9791
1,621|
1,320|
1,6151

3,829
2,059
1,770
1,440
1,219

3,7431
2,0651
1,678|
1,379|
1,527|

9,6351

10,0891

10,136

9,7401

10,3831

10,5771

9,340

4,3421
3,3221
1,9711

4,7451
3,3331
2,011»

5,166
3,381
1,589

4,3141
3,382|
2,0441

4,9041
3,516|
1,9631

5,0531
3,471|
2,053|

4,672
3,118
1,550

4641

324(

547

519|!

367J

3571

44 5

3831 1

2201
47J
801
101

292
45
93
15

2401
41$
90|
12!

1-15191
1 -9451
| -574|!
I -660||
|
441|

10,3171 1 - 7 4 8 |
4,844| 1 -562|
3,512| J -194H
1,9611 1
81
971]

1661
52|
103|
31

304
59
167
17

5,829)

5,634|

8,278

6,2511

6,903f

7,2041

7,308

7 , 0 4 6 1 1-10741

1,770|
2,3691
5951
5591
466J
701

1,547|
2,2521
774J
547J
4331
81|

2,856
2,841|
1,484|
472
515|
110|

1,962||
2,556||
687||
531|
447H
68|]

2,4221
2,1981
1,2841
473|
400|
126|

2,4341
2,5371
1,262|
467|
381|
123|

2,501
2,464
1,387|
447|
349
160|

2,452|
2,312|
1,283|
4691
4031
1271

3021
531
1101
-11

3521
56J j
1121
-1|

2281
401
87|
121

!
1
1
1

74}!
1311
23|
-131

1 -652|
1
1711!
1 -689H
1
8611
1
66||
1
-56||

113,174

2,244

-6.0
-3.6
-9.1
-7.9
33.4

51,246

3,788

8.0

26,926
19,656
4,664

1,274
1,554
960

5.0
8.6
25.9

17,779

1,172

7.1

10,039
3,544
3,731
465

280
353
579
-40

2.9
11.1
18.4
-8.0

119,179

2,318

2,0

43,373
37,900!
22,359|
6,0681
7,264
2,215|

-771
3,842
-1,911
498
1,126!
-466|

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

S.A. AND N.S.A. DENOTE SEASONALLY ADJUSTED AND NOT SEASONALLY ADJUSTED DATA, RESPECTIVELY.
DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING.

2.0

60,584
-3,896
34,929 | -1,322
25,655
-2,574
-1,787
20,916
7,927
31,674

-1.7
11.3
-7.9
8.9
18.3
-17.4

NOTE

The consumer installment credit series covers most short- and
intermediate-terra credit extended to individuals through regular business
channels, usually to finance the purchase of consumer goods and services or
to refinance debts incurred for such purposes, and scheduled to be repaid
(or with the option of repayment) in two or more installments.
The series excludes certain types of arrangements by which household expenditures are financed. It generally excludes mortgage financing,
which is reported elsewhere, although some credit secured by junior liens on
real estate may be reported in the data for certain holders such as finance
companies. Also excluded are (a) credit card or other receivables held by a
holding company rather than by its subsidiary financial institution; (b) extensions of funds against the cash value of life insurance policies or (c) loans
to farmers; and (d) noninstallment credit extended to individuals. Some
components of the series include unearned (precoraputed) finance charges.
Historical data as well as additional information about the series
are available from the Mortgage and Consumer Finance Section, Division of
Research and Statistics, Board of Governors of the Federal Reserve System,
Washington, D.C. 20551.
Other regular Federal Reserve publications containing consumer
credit stock and/or flow statistics are: monthly—the Bulletin, and the
finance company release G.20 (422); and quarterly—the Flow of Funds Accounts
release Z.l (780) and the Commercial Bank Report of Condition. The two quarterly reports include data for consumer noninstallment credit. In addition, the
Report of Condition provides separate commercial bank installment loan
detail for credit card and check credit, home improvement credit, personal
loans, and other consumer installment credit. Consumer credit data also
appear in the Federal Reserve's Annual Statistical Digest. Finally, a
semi-annual joint publication of the Federal Reserve, the Office of the
Comptroller of the Currency, and the Federal Deposit Insurance Corporation,
entitled "Assets and Liabilities of Commercial and Mutual Savings Banks,"
contains regional and state data for consumer credit held by commercial
banks and mutual savings banks. The publication can be obtained upon
written request to the Data Requests and Surveys Section, Division of
Management Systems and Financial Statistics, Federal Deposit Insurance
Corporation, 550 17th Street, N.W., Washington, D.C. 20006.