Full text of G.19 Consumer Credit : August 7, 2009

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G.19

CONSUMER CREDIT

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

June 2009

August 7, 2009

Consumer credit decreased at an annual rate of 5-1/4 percent in the second quarter. Revolving credit decreased at an annual rate of 8-1/4 percent, and nonrevolving credit decreased at an annual rate of
3-1/2 percent. In June, consumer credit decreased at an annual rate of 5 percent.

CONSUMER CREDIT OUTSTANDING1
Seasonally adjusted

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

p

2009
r
Apr

-3.6
-8.9
-0.4

-5.2
-8.2
-3.5

-8.2
-11.7
-6.2

-2.6
-6.3
-0.4

-4.9
-6.8
-3.8

2,558.6
957.6
1,601.1

2,535.8
936.2
1,599.6

2,502.7
917.0
1,585.7

2,518.4
927.1
1,591.3

2,513.0
922.3
1,590.8

2,502.7
917.0
1,585.7

r
2004

r
2005

r
2006

r
2007

r
2008

5.6
4.1
6.4

4.5
3.8
4.9

4.1
5.0
3.6

5.6
7.8
4.4

1.6
1.9
1.4

3.9
3.5
4.2

0.8
3.2
-0.6

-3.2
-6.5
-1.2

2,191.7
799.8
1,391.8

2,290.9
830.2
1,460.7

2,384.6
871.6
1,512.9

2,519.1
939.8
1,579.3

2,558.6
957.6
1,601.1

2,573.8
965.8
1,608.1

2,579.2
973.5
1,605.7

Q2

r

2008
r
Q3

Q4

r

Q1

r

Q2

May

r

Jun

p

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

6.60
11.89

7.07
12.06

7.72
12.41

7.77
12.38

7.02
11.37

6.84
11.14

6.92
11.48

7.06
11.44

6.92
11.05

6.79
11.25

n.a.
n.a.

6.79
11.25

n.a.
n.a.

12.72
13.22

12.51
14.55

13.21
14.73

13.30
14.68

12.08
13.57

11.88
13.51

11.94
13.64

12.03
13.36

12.97
13.54

13.31
14.43

n.a.
n.a.

13.31
14.43

n.a.
n.a.

New car loans at auto finance companies
Interest Rates
4.92
Maturity (months)
60.7
Loan-to-Value Ratio
89
Amount financed (dollars)
24,888

6.02
60.0
88
24,133

4.99
63.0
94
26,620

4.87
62.0
95
28,287

5.52
63.4
91
26,178

5.28
63.5
93
25,493

4.87
65.4
89
26,643

7.09
62.3
86
24,400

4.71
59.3
87
25,518

3.45
62.1
92
28,577

3.00
60.8
90
28,383

3.47
62.9
93
29,133

3.88
62.7
91
28,215

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

r
2004
Total

r
2005

r
2006

r
2007

r
2008

Q2

r

2008
r
Q3

Q4

r

Q1

r

Q2

p

2009
r
Apr

May

r

Jun

p

2,219.5 2,319.8 2,415.0 2,551.9 2,592.1 2,555.6 2,588.0 2,592.1 2,516.9 2,485.0 2,501.2 2,495.7 2,485.0

Major holders
Total
2,219.5 2,319.8 2,415.0 2,551.9 2,592.1 2,555.6 2,588.0 2,592.1 2,516.9 2,485.0 2,501.2 2,495.7 2,485.0
Commercial banks
704.3 707.0 741.2 804.1 878.6 813.0 844.1 878.6 850.6 839.1 844.2 854.3 839.1
Finance companies
492.3 516.5 534.4 584.1 575.8 581.8 596.3 575.8 546.8 530.0 539.6 531.5 530.0
Credit unions
215.4 228.6 234.5 235.7 235.0 231.1 236.1 235.0 234.8 235.9 234.8 235.6 235.9
Federal government and Sallie Mae
86.1
89.8
91.7
98.4 111.0 104.6 106.9 111.0 121.1 122.4 121.6 122.7 122.4
Savings institutions
91.3 109.1
95.5
90.8
86.3
90.0
79.3
86.3
80.0
82.2
80.8
81.5
82.2
Nonfinancial business
58.6
58.8
56.7
55.3
55.3
51.1
51.7
55.3
50.4
49.3
49.9
50.0
49.3
571.5 609.9 661.1 683.6 650.0 684.1 673.7 650.0 633.0 625.9 630.3 620.1 625.9
Pools of securitized assets5
Major types of credit
Revolving
Commercial banks
Finance companies
Credit unions
Federal government and Sallie Mae
Savings institutions
Nonfinancial business
Pools of securitized assets5

823.8
314.6
50.4
23.2
n.a.
27.9
12.4
395.2

855.9
311.2
66.3
24.7
n.a.
40.8
11.6
401.4

899.2
327.3
79.9
27.4
n.a.
42.5
7.8
414.4

969.9
353.4
86.0
31.1
n.a.
44.8
4.6
450.0

988.2
390.6
74.4
33.4
n.a.
39.6
4.2
446.0

959.4
328.9
84.0
31.3
n.a.
45.9
3.7
465.6

972.6
356.3
83.3
32.2
n.a.
36.1
3.8
460.8

988.2
390.6
74.4
33.4
n.a.
39.6
4.2
446.0

922.4
355.7
52.0
32.2
n.a.
35.9
3.6
443.1

911.0
345.0
50.4
33.5
n.a.
38.7
3.7
439.6

918.5
351.3
51.2
32.6
n.a.
36.8
3.7
442.8

913.4
355.8
50.6
33.0
n.a.
37.8
3.7
432.5

911.0
345.0
50.4
33.5
n.a.
38.7
3.7
439.6

Nonrevolving
1,395.7 1,463.9 1,515.8 1,582.1 1,603.9 1,596.2 1,615.4 1,603.9 1,594.5 1,574.0 1,582.8 1,582.3 1,574.0
Commercial banks
389.6 395.8 413.9 450.7 488.1 484.1 487.8 488.1 495.0 494.1 492.9 498.5 494.1
Finance companies
442.0 450.2 454.5 498.0 501.3 497.7 512.9 501.3 494.9 479.6 488.4 480.9 479.6
Credit unions
192.1 203.9 207.1 204.6 201.6 199.8 203.9 201.6 202.7 202.4 202.2 202.6 202.4
Federal government and Sallie Mae 86.1
89.8
91.7
98.4 111.0 104.6 106.9 111.0 121.1 122.4 121.6 122.7 122.4
Savings institutions
63.4
68.3
53.1
46.0
46.8
44.1
43.2
46.8
44.2
43.6
44.0
43.8
43.6
Nonfinancial business
46.2
47.2
48.9
50.7
51.1
47.3
47.8
51.1
46.8
45.6
46.2
46.3
45.6
Pools of securitized assets5
176.3 208.6 246.7 233.6 204.0 218.5 212.9 204.0 189.9 186.3 187.5 187.6 186.3

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). 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.
5. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators.
r. Estimates revised due to changes in source data.
r=revised. p=preliminary.