Full text of G.19 Consumer Credit : December 10, 1985

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FEDERAL RESERVE statistical release
••w^w&y
For immediate release
December 10, 1985

G. 19

CONSUMER INSTALLMENT CREDIT

Consumer installment credit outstanding rose a seasonally adjusted $6.6 billion
in October, after increasing by an upward-revised record $11.5 billion in September. The
annual rate of growth in October was 15.2 percent, substantially below the 27 percent
September pace which was heavily influenced by concessionary auto financing. The revised
third quarter rate of advance was 18.8 percent compared with the 20.8 percent first half
growth.
Automobile credit increased $3.7 billion in October, little more than half the
September gain—a substantial portion of which had reflected the interest rate concession
programs at finance companies. Revolving credit growth slowed to $1.5 billion in October
from $2.0 billion in September. The $1.5 billion advance in "other" plus mobile home
credit was also below the $2.4 billion gain in the preceding month.
Net Change in
Amount Outstanding
(millions of dollars)

Annual Rate of Growth
(percent)
1985

1985
FLOWS OF CREDIT
(seasonally adjusted)
l
Automobile
Revolving
Mobile home
Other

Tota

Oct.
6,628
3,653
1,519
168
1,288

Oct.

Aug.

Sept.
11,531
7,204
1,974
168
2,185

5,726
2,206
936
199
2,385

Sept.r

Aug. r

15.2
21.5
16.5
7.8
8.4

27.1
44.0
21.9
7.8
14.5

13.6
13.6
10.5
9.3
16.0

1985
TERMS O CREDIT
F
(not seasonally adjusted)
I n t e r e s t rates 2 /
Commercial banks 3 /
48-mo. new-car loan
24-mo. personal loan
120-mo. mobile home loan
Credit card plan
Auto finance companies 4 /
New-car loan
Used-car loan
Other terms at
auto finance companies 4/
Maturity (months)
New-car loan
Used-car loan
Loan-to-value ratio ( )
%
New-car loan
Used-car loan
Amount financed
($)
New-car loan
Used-car loan




Nov.

Oct.

1984
Sept.

Aug.

Nov.

12.39
15.61
14.66
18.57

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

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

12.72
15.84
14.72
18.62

13.91
16.63
15.60
18.82

n.a.
n.a.

9.97
17.21

8.84
17.31

10.87
17.57

15.24
18.30

n.a.
n.a.

51.5
41.4

51.2
41.4

51.1
41.6

50.0
39.9

n.a.
n.a.

93
95

92
95

91
95

89
93

n.a.
n.a.

10,498
6,091

10,449
6,097

10,422
6,139

9,577
5,900

CONSUMER INSTALLMENT CREDIT BY HOLDER AND TYPE
( M i l l i o n s of d o l l a r s e x c e p t a s n o t e d )

Installment credit
h o l d e r and t y p e

Net change d u r i n g
Oct.
Sept.r
Oct.
1985
1985
1985
O.xV.

Total

ii 9 Am

6,628

11,531

JN.^.A..

Outstanding at end of
Oct.
Oct.
Oct.
1985
1985
1984
S.A.
N.S.A.
N.S.A.

Change from end of
Oct. 1984
amount
percent

5,455

529,649

530,153

441,358

88,795

20.1

240,871
119,730
76,573
38,319
40,182
4,178
9,796

242,220
118,846
76,957
37,784
40,408
4,241
9,697

204,582
95,113
64,716
35,908
28,781
4,290
7,968

37,638
23,733
12,241
1,876
11,627

18.4
25.0
18.9

1,729

40.4
-1.1
21.7

207,331
97,685
73,022
36,624

208,121
98,707
72,607
36,807

168,923
83,620
54,350
30,953

39,198
15,087
18,257
5,854

23.2
18.0
33.6
18.9

111,822
73,712
33,932
4,178

111,442
73,778
33,423
4,241

91,505
55,276
31,939
4,290

19,937
18,502
1,484

21.8
33.5

-49

-1.1

1,614

6.6

-57

-0.6
-3.1
38.3
18.7

By major h o l d e r
1,462
3,140

3,748
6,407

1,190
2,424

956
97
747
62
164

374
-27
924
-43
148

510
363
987

Automobile
Commercial banks
Finance companies
Credit unions

3,653
2,595

7,204
1,048
5,976

2,110

459

180

244

Revolving
Commercial banks
Retailers 5/
Gasoline companies

1,519
1,385

1,974
2,071

1,501
1,264

72
62

-54
-43

-105

168
-15
32
143
8

168
61
-19
121
5

144
-30
7
162
5

26,123
9,506
9,175
6,634

26,187
9,570
9,177
6,627

24,573
9,627
9,470
4,791

-293
1,836

808

813

685

128

1,288
-507

2,185

791

568
450
189
27
803
148

-709

184,373
59,968
37,533
39,141
4,387
33,548
9,796

184,403
60,165
37,062
39,337
4,361
33,781
9,697

156,357
56,059
31,293
33,078
3,969
23,990
7,968

28,046
4,106
5,769
6,259

Commercial banks
Finance companies 1/
Credit unions
Retailers 5/
Savings and loans
Gasoline companies
Mutual savings banks

-105

86

-49

5.2

By major credit type

Mobile home
Commercial banks
Finance companies
Savings and loans
Credit unions
Other
Commercial banks
Finance companies 1/
Credit unions
Retailers 5/
Savings and loans
Mutual savings banks

599

513
489
25
604
164

3,019

665

342

307
261
21
825
86

4.6

17.9

7.3
18.4
18.9

392

9.0

9,791
1,729

40.8
21.7

1. Loans secured by real estate at finance companies —excluded from the above series— for
October 1985 are estimeated at $28.1 billion, seasonally adjusted, and $29.4 billion not
seasonally adjusted.
2. Interest rates are annual percentage rates as specified by Regulation Z.
3. Commercial bank data are simple unweighted averages of each bank's "most common" rate charged
during the first calendar week of the month.
4. Finance company data from the subsidiaries of the three major U.S. automobile manufacturers
are volume-weighted averages covering all loans of each type purchased during the month.
5. Includes auto dealers and excludes 30-day charge credit held by travel and entertainment
companies.
n.a»- Data not available.
S.A.= Seasonally adjusted.
N.S.A.= Not seasonally adjusted.
r= revised.
NOTE: The Board's series on amounts of credit covers most short- and intermediate-term credit
extended to individuals through regular business channels, which are scheduled to be repaid
(or with the option of repayment) in two or more installments.
The G.19 Statistical Release is issued about the middle of each month. The exact date and time
,of each monthly release will be announced, when the information is available, on (202) 452-3206.