Full text of G.19 Consumer Credit : December 5, 1986
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FEDERAL RESERVE statistical release G.19 'mm For immediate release December 5, 1986 CONSUMER INSTALLMENT CREDIT Consumer installment c r e d i t outstanding increased $6.8 b i l l i o n in October, down somewhat from a revised $7.7 b i l l i o n gain in September. The annual rate of growth was 14 percent in October, compared with 16 percent in September. Growth during the f i r s t 10 months of the year was at a 12-1/2 percent annual r a t e . Automobile c r e d i t — r e f l e c t i n g reduced-rate financing programs that were s t i l l in e f f e c t for part of the month — was again strong in October, expanding by $4.0 b i l l i o n following the record $7.5 b i l l i o n increase in September. Revolving credit roae $0.6 b i l l i o n in October, up from $0.1 b i l l i o n in September. Mobile home credit was v i r t u a l l y unchanged compared with the previous month's small d e c l i n e , and the "other" category experienced i t s largest increase since May, climbing $2.1 b i l l i o n compared with $0.4 b i l l i o n in September. Net change in amount: outstanding ( m i l l i o n s of d o l l a r s ) Annual rate of growth (percent) 1986 1986 FLOWS O CREDIT F ( s e a s o n a l l y adjusted) Total Automobile Revolving Mobile home Other •"*—•••••"* Sept. Aug. 6,783 4,048 597 -4 2,142 7,724 7,466 97 -257 419 3,393 2,579 338 -183 659 Sept. 13.9 20.6 5.7 -0.2 13.0 16.1 39.2 0.9 -12.2 2.6 Interest rates 1/ Commercial banks 2 / 48-mo. new-car loan 24-mo. personal loan 120-mo. mobile home loan Credit card plan Auto finance companies 3 / New-car loan Used-car loan Other terms at auto finance companies 3 / Maturity (months) New-car loan Used-car loan Loan-to-value r a t i o (percent) New-car loan Used-car loan Amount financed ( d o l l a r s ) New-car loan Used-car loan Nov. Oct. Aug. 7.1 13.7 3.2 -8.6 4.0 1985 1986 (not seasonally adjusted) y Oct. P Oct. P Sept. Aug. Oct. 10.58 14.19 13.49 18.09 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 11.00 14.70 13.95 18.15 n.a. n.a. n.a. n.a. n.a. n.a. 6.12 19.54 5.40 15.23 9.29 15.56 9.97 17.21 n.a. n.a. 45.3 42.2 44.5 42.5 50.4 42.9 51.5 41.4 n.a. n.a. 92 97 92 98 90 97 93 95 n.a. n.a. 11,340 6,746 11,162 6,763 10,756 6,569 10,498 6,091 CONSUMER INSTALLMENT CREDIT, BY HOLDER AND TYPE 4 / M i l l i o n s of d o l l a r s e x c e p t as noted Net change during month Oct. 1986p S.A. Sept. 1986 r S.A. Outstanding a t end of month Oct. 1986 P 1986p N.S.A. Oct.p 1986 S.A. Oct. 1986* N.S.A. Oct. 1985 N.S.A. N.S.A. Change from end of Oct. 1985 Amount Percent 6,783 7,724 5,370 591,117 593,654 525,093 68,561 13.1 2 ,438 2 ,302 1 ,075 748 196 26 1,421 5,621 752 -90 94 -74 1,150 1,986 1050 929 344 -89 255,766 146,862 82,448 62,079 40,641 3,320 256,064 148,695 83,183 62,481 39,859 3,372 235,818 118,846 74,142 53,871 38,175 4,241 20,246 29,849 9,041 8,610 1,684 -869 8.6 25.1 12.2 16.0 4.4 -20.5 Automobile Commercial banks Finance companies Credit unions Saving8 i n s t i t u t i o n s 4,048 1 ,376 2 ,097 437 137 7,466 1,156 6,020 306 -16 n.a. 1,121 1,905 n.a. n.a. 240,327 97,218 98,695 33,556 10,858 n.a. 97,887 100,366 n.a. n.a. n.a. 92,096 72,607 n.a. n.a. n.a. 5,791 27,759 n.a. n.a. n.a. 6.3 38.2 n.a. n.a* Revolving 7 / Commercial banks Savings i n s t i t u t i o n s Retailers G a s o l i n e companies 597 246 152 174 26 97 27 94 49 -74 n.a. -260 n.a. 337 -89 126,609 80,406 7,021 35,861 3,320 n.a. 79,730 n.a. 35,128 3,372 n.a. 70,948 n.a. 33,710 4,241 n.a. 8,782 n.a. 1,418 -869 n.a. 12.4 n.a. 4.2 -20.5 Mobile home Commercial banks Finance companies Savings i n s t i t u t i o n s -4 4 -70 63 -257 -16 -201 -41 n.a. -38 -62 n.a. 24,954 9,074 8,611 7,269 n.a. 9,143 8,782 n.a. n.a. 9,670 9,177 n.a. n.a. -527 -395 n.a. n.a* -5.4 -4.3 n.a. Other Commercial banks Finance companies Credit unions Savings i n s t i t u t i o n s Retailers 2 ,142 812 275 637 396 22 419 253 -198 446 -127 45 n.a. 327 143 n.a. n.a. 7 199,226 69,068 39,556 48,892 36,93,1 4,780 n.a. 69,304 39,547 n.a. n.a. 4,731 n.a. 63,104 37,062 n.a. ' n.a. 4,465 n.a. 6,200 2,485 n.a. n.a. 266 n.a. 9.8 6.7 n.a. n.a. 6.0 Total Major holder Commercial banks Finance companies 5 / Credit unions Saving8 i n s t i t u t i o n s Retailers G a s o l i n e companies Major c r e d i t type 6 / 1. Interest rates are annual percentage rates as specified by Regulation Z. 2. Commercial bank data are simple unweighted averages of each bank's "most commmon" rate charged during the first calendar week of the month. 3. 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. 4. The Board's series on amounts of crelit 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. 5. More detail for finance companies is available in the G.20 Statistical Release, Finance Companies• 6. Not seasonally adjusted data are unavailable by type of credit for certain holders. In these cases, the seasonally adjusted total for the holder group has been allocated among the components using the latest available benchmark information. 7. Excludes 30-day charge credit held by travel and entertainment companies. n.a." Data not available. S.A." Seasonally adjusted« r • revised. p • preliminary. N.S.A.- Not seasonally adjusted. The G.19 Statistical Release is issued around the fifth working day of each month. date and time may be obtained by calling (202) 452-3206. The exact
