Full text of G.19 Consumer Credit : December 7, 1992
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&^k& 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 •f^rseS?:- 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.