Full text of G.19 Consumer Credit : December 7, 1992

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FEDERAL RESERVE statistical release
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

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For immediate release
December 7, 1992

G. 19

CONSUMER INSTALLMENT CREDIT
October 1992
Consumer installment credit outstanding increased $214 million in October, following a $1,440 million rise in
September. Revolving credit posted anotiier strong advance in October, while auto loans were virtually unchanged.
"Other" credit continued to decline in the month.
MONTHLY CHANGE IN CREDIT OUTSTANDING1
Seasonally adjusted
Amount
Type of credit
(millions of dollars)
1992
Sep. r
Aug.
Total
-1,156
1,440
Automobile
-799
440
Revolving
1,974
711
Other2
-1,068
-974

Oct. P
214
29
1,636
-1,451

Aug.
-1.9
-3.7
3.4
-5.9

TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES3
Percent except as noted, not seasonally adju sted
1991
Institution, terms, and type of loan
Oct.
Nov.
Sep.
Commercial banks
Interest rates
48-mo. new car loan
24-mo. personal loan
120-mo. mobile home loan
Credit card plan
Auto finance companies
Interest rates
New car
Used car
Maturity (months)
New car
Used car
Loan-to-value ratio
New car
Used car
Amount financed (dollars)
New car
Used car
Notes appear on reverse.




Annual rate
(percent)
1992
Sep. r
2.4
2.1
9.5
-5.4

Oct.P
0.4
0.1
7.9
-8.1

1992
Oct.

Nov.

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

10.61
14.88
13.37
18.19

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

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

8.60
13.55
12.36
17.38

12.23
15.46

10.79
15.06

8.65
13.44

9.51
13.37

n.a.
n.a.

55.4
47.0

54.1
47.0

53.3
47.7

54.1
47.9

n.a.
n.a.

88
97

88
96

90
97

89
97

n.a.
n.a.

12,684
9,077

13,245
9,029

13,889
8,402

19,443
9,373

n.a.
n.a.

CONSUMER INSTALLMENT CREDIT OUTSTANDING
(Millions of dollars)
1992

1991

Type of credit and holder

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

May

Apr.

Jun.

Jul.

Aug.

Sep. r

Oct.P

Seasonally adjustec

Total
Automobile
Revolving
Other2

729225
264420
241436
223369

727960
262383
242573
223004

727799
263003
242785
222012

728618
263134
244288
221196

728395
261659
245974
220762

727404
262125
245259
220020

723821
260376
245905
217541

m

722928
259834
246220
216874

722919
257339
247418
218162

721820
257743
247332
216744

720664
256944
248043
215677

722104
257384
250017
214703

722317
257412
251653
213252

Not seasonally adjusted

Total
Major holders
Commercial banks
Finance companies
Credit unions
Savings institutions
Retailers
Gasoline companies
Pools of securitized assets4
Major types of credit5
Automobile
Commercial banks
Finance companies
Pools of securitized assets4
Revolving
Commercial banks
Retailers
Gasoline companies
Pools of securitized assets4
Other
Commercial banks
Finance companies
Retailers
Pools of securitized assets4

729782

729758

742058

733294

725882

721091

718676

718420

719845

718599

721985

724198

722700

334835
124299
92,128
41,691
38,147
4,529
94,153

333272
123228
91,849
41,337
39,460
4,388
96,224

339565
121901
92,254
40,315
44,030
4,362
99,631

335320
119206
91,894
39,448
41,567
4,377
101482

330464
120280
91,469
38,479
40,015
4,151
101024

327697
118353
91,164
37,142
39,454
3,988
103293

326205
118364
91,339
36,499
39,553
4,094
102622

324791
116138
91,605
36,224
37,824
4,193
107645

324171
116690
92,340
35,782
37,438
4,360
109064

323899
117002
91,778
35,552
37,219
4,506
108643

323866
117175
92,270
35,378
38,791
4,542
109963

324046
116650
92,698
35,069
38,778
4,499
112458

324424
114702
92,941
34,681
39,299
4,452
112201

266747
113950
66,222
26,948
239577
131171
33,641
4,529
56,290
223458
89,714
54,314
4,506
10,915

263249
112968
64,840
25,864
243349
130509
34,928
4,388
59,459
223160
89,795
54,609
4,532
10,901

263108
111912
63,413
28,057
255895
137968
39,352
4,362
60,139
223055
89,685
54,684
4,678
11,435

261871
110707
62,204
29,460
249320
133839
36,953
4,377
60,087
222103
90,774
57,002
4,614
11,935

259723
110077
61,957
28,480
245088
130848
35,438
4,151
60,633
221071
89,539
58,323
4,577
11,911

259530
110047
60,655
29,942
242267
128550
34,892
3,988
60,953
219294
89,100
57,698
4,562
12,398

258449
109056
61,717
28,679
242708
128506
34,989
4,094
61,190
217519
88,643
56,647
4,564
12,753

258665
108610
59,399
31,406
243315
128013
33,245
4,193
63,801
216440
88,168
56,739
4,579
12,438

257442
106645
60,056
31,024
245092
127925
32,844
4,360
65,784
217311
89,601
56,634
4,594
12,256

258104
107722
60,400
30,454
244661
127476
32,617
4,506
65,791
215834
88,701
56,602
4,602
12,398

259128
107978
60,393
30,826
247051
126922
34,167
4,542
66,985
215806
88,966
56,782
4,624
12,152

260395
108355
59,806
31,971
248692
127234
34,148
4,499
68,252
215111
88,457
56,844
4,630
12,235

259626
108105
59,290
31,757
249715
127263
34,654
4,452
68,699
213359
89,056
55,412
4,645
11,745

1. 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.
2. Comprises mobile home loans and all other installment loans not included in automobile or revolving credit, such as loans for education, boats, trailers, or vacations. These loans may be secured or unsecured.
3. Interest rates are annual percentage rates as specified by the Federal Reserve's Regulation Z. Interest rates 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. 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.
4. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators.
5. Includes estimates for holders that do not separately report consumer credit holding by type,
r = revised, p = preliminary.