Full text of G.19 Consumer Credit : December 7, 1987

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OfCOW**.

FEDERAL RESERVE statistical release
For immediate release
December 7, 1987

G.19

CONSUMER INSTALLMENT CREDIT
Consumer installment credit outstanding
following a $6.43 billion rise in September. The
7.4 percent, down from the 12.9 percent September
other credit slowed to about half their September
outstanding rose at a 13.3 percent annual rate in
strong non-auto retail sales.

increased $3.74 billion in October,
annual rate of growth in October was
pace. Expansion of automobile and all
rates of advance. Revolving credit
October, in large part reflecting

Net change in
amount. outstanding
(millions of dollars)

Annual rate of growth
(percent)
1987

1987
FLOWS OF CREDIT
(seasonal.ly adjusted)

Oct.P

Sept.

Aug.

Total
Automot>ile
Revolving
Mobile home
Other

3,739
1,626
1,568
-10
555

6,425
3,457
1,867
4
1,097

5,006
3,033
1,096
-165
1,043

Oct.»P
7,A
7,.6
13-• 3
-0,.5
3,.7

1987
TERMS OF CREDIT
(not seasonally adjusted)
Interest rates 1/
Commercial banks 2/
48-mo. nev-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
uHd^arloan




r

Sept.
12.9
16.3
16.0
0.2
7.5

Aug
10.2
14.5
9.5
-7.7
7.1
1986
"
Nov.

Nov.

Oct.

Sept.

Aug.

10.86
14.58
13/62
17.82

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

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

10.37
14.22
13.24
17.85

10.58
14.19
13.49
18.09

n.a.
n.a.

10.31.
14.76

8.71
14.58

9.63
14.53

11.83
15.20

n.a.
n.a.

52.8
45.2

52.1
45.4

53.4
45.5

., ,
53.4
42.6

n.a.
n.a.

93
99

93
98

n.a.
n.a.

11,585
7,537

11,374
7.763

w
98
,,,<•-,
11,267
7,527

«
97
, , ,*«
11.160
6.946

CONSUMER INSTALLMENT CREDIT, BY HOLDER AND TYPE 4/
Millions of dollars except as noted
Net change during month
Oct.*
1987
S.A.
Total

Sept*
1987
S.A.

Oct. r
1987
N« 5 .A.

Outstanding at end of month
Oct.*
1987
S.A.

Oct. F
1987
N. S .A.

Oct.
1986
N.S.A.

Change from end qi
Oct. 1986
Percent

Amount

3,739

6,425

3,693

606,346

608,748

579,148

29,600

5.1

1,781

3,262
1,959

776
724

854
199
91
60

1093

270,936
143,118
84,207
63,546
40,848
3,691

271,063
145.147
85,083
63,629
40,063
3,763

261,142
139,951
77,778
57,129
39,796
3,352

9,921
5,196
7,305
6,500

3.8
3.7
9.4
11.4

267
411

12.3

3,457
1,280
1,708

n.a.

n.a.
n.a.

n.a.
106,323
100,301
n.a.
n.a.

n.a.
100,188
95,745
n.a.
n.a.

n.a.
6,135
4,556
n.a.
n.a.

n.a.

428
41

259,096
105,479
98,219
42,212
13,186
143,272
92,419
8,445
36,416
3,691
2,301

n.a.
91,504
n.a.
35,684
3,763
n.a.

n.a.
84,051
n.a.
35,472
3,352
n.a.

n.a.
7,453
n.a.

n.a.

n.a.

12.3
n.a.

25,689
8,462
8,610
8,617

n.a.
8,531
8,655
n.a.

n.a.
9,098
9,197
n.a.

n.a.
-567
-542
n.a.

n.a.
-6.2
-5.9
n.a.

178,288
64,576
36,289
39,694
33,298
4,432

n.a.
64,705
36,191
n.a.
n.a.
4,379

n.a.
67,805
35,009
n.a.
n.a.
4,324

n.a.
-3,100
1,182
n.a.
n.a.

n.a.
-4.6

55

1.3

Major holder
Commercial banks
Finance companies 5/
Credit unions
Savings institutions
Retailers
Gasoline companies

470
867
268
366
-12

654
526
-80

0.7

Major credit type 6/
Automobile
Commercial banks
Finance companies
Credit unions
Savings institutions

1,626

Revolving 7/
Commercial banks
Saving8 institutions
Retailers
'Gasoline companies
Credit unions

1,568
1,193

1,867
1,692

n.a.

36
329
-12
24

26
66
60
23

n.a.

Mobile home
Commercial banks
Finance companies
Savings institutions

-10
-77
30
36

4
20
-43
27

n.a.
-120

555

1,097

-152

270
294
403
104
25

Other
Commercial banks
Finance companies
Credit unions
Saving8 institutions
Retailers

817
319
435
56

121
409
140
37

562
384

752
506
-80
n.a.

13
n.a.
n.a.
-418

327
n.a.
n.a.

20

212
411

6.1
4.8
n.a.
n.a.

8.9
n.a.

0.6

3.4
n.a.
n.a.

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 credit 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. Includes outstanding balances on some
securitized consumer loans originated by financial institutions.
5. More detail for finance companies is available in the 6.20 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.1 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.




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