Full text of G.19 Consumer Credit : December 7, 1993

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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

^LRES^V

For immediate release
December 7, 1993

G. 19

CONSUMER INSTALLMENT CREDIT
October 1993
Consumer installment credit outstanding increased $8.1 billion in October following a $6.1 billion advance in
September. All components rose in October, with a marked pickup in auto credit.
MONTHLY CHANGE IN CREDIT OUTSTANDING1
Seasonally adjusted
Amount
Type of credit
(millions of dollars)
1993
Sept. r
Aug.
6,096
Total
5,039
1,892
Automobile
1,316
2,950
Revolving
3,815
1,254
Other2
-92

Oct. P
8,108
3,940
3,151
1,017

Annual rate
(percent)
1993
Sept. r
9.6
8.4
13.1
6.7

Aug.
8.0
5.9
17.1
-0.5

TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES3
Percent except as noted, not seasonally adjusted
1992
Institution, terms, and type of loan
Aug.
Oct.
Nov.
Aug.
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.




Oct.P
12.7
17.5
13.8
5.4

1993
Sept.

Nov.

9.15
13.94
12.57
17.66

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

8.60
13.55
12.36
17.38

7.98
13.45
11.53
16.59

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

7.63
13.22
11.55
16.30

8.88
13.49

9.51
13.37

9.65
13.37

9.21
12.48

9.21
12.52

n.a.
n.a.

53.6
47.9

54.1
47.9

54.1
47.8

54.9
49.0

54.7
48.8

n.a.
n.a.

90
97

89
97

89
97

91
99

91
98

n.a
n.a.

13,745
9,238

13,885
9,373

14,043
9,475

14,324
10,104

14,348
9,808

n.a.
n.a.

CONSUMER INSTALLMENT CREDIT OUTSTANDING
(Millions of dollars)
1993

1992
Oct.

Type of credit and holder

Nov.

Dec.

Jan.

Feb.

Mar.

*

May

June

July

Aug.

Sept. r

Oct. P

750293
264007
262690
223596

752428
265388
263338
223701

757465
267468
266938
223058

762503
268784
270753
222967

768599
270676
273703
224220

776707
274616
276854
225238

Apr.
Seasonally adjusted

734195
258208
251806
224181

Total
Automobile
Revolving
Other2

736023
258860
252086
225077

741093
259627
254299
227167

743583
258737
255984
228862

747228
261434
258384
227410

750131
262313
259661
228157

752193
262463
261450
228280

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

J

734766

737651

756944

748529

745374

743133

746447

744778

748830

753645

763268

770410

777196

326472
116359
95,517
42,031
36,441
4,452
113494

325149
116558
96,092
42,746
36,678
4,365
116063

331869
117127
97,641
43,461
42,079
4,365
120402

330355
116009
98,262
42,804
40,057
4,366
116676

330060
112686
98,785
41,975
38,462
4,148
119258

329764
111854
99,778
41,695
38,030
4,080
117932

332266
112523
101534
40,275
38,218
4,280
117351

333415
109311
103019
39,210
38,681
4,486
116656

335592
111330
104781
37,250
38,813
4,567
116497

339948
113076
106027
36,485
39,043
4,668
114398

345449
111864
108095
35,919
39,688
4,728
117525

349699
112645
109687
34,985
39,842
4,574
118978

353296
113220
110830
34,251
40,310
4,599 '
120690

260201
110447
59,290
32,065
249983
126992
31,254
4,452
69,285
224581
89,033
57,068
5,187
12,144

259148
109459
58,386
32,979
252877
127481
31,444
4,365
70,889
225626
88,209
58,172
5,234
12,195

259964
109743
57,605
33,878
267949
132582
36,629
4,365
74,243
229031
89,544
59,522
5,450
12,281

258017
109671
57,165
32,388
260758
129567
34,666
4,366
71,927
229754
91,117
58,844
5,391
12,361

259830
111005
54,036
36,031
257440
127877
33,110
4,148
72,024
228105
91,178
58,651
5,352
11,202

259945
111287
53,508
36,085
256233
128079
32,681
4,080
70,890
226955
90,398
58,346
5,349
10,957

260857
111121
53,977
36,262
257783
129550
32,838
4,280
69,919
227807
91,595
58,546
5,380
11,170

262860
112700
53,878
36,431
259566
130871
33,254
4,486
69,054
222352
89,844
55,433
5,427
11,171

265345
114901
55,592
34,701
260993
129921
33,328
4,567
70,842
222491
90,770
55,737
5,485
10,954

267646
116729
56,817
33,673
264100
132984
33,505
4,668
69,935
221899
90,235
56,259
5,538
10,790

270495
118535
55,247
35,569
269663
135466
34,099
4,728
71,562
223109
91,448
56,616
5,589
10,394

273317
120574
55,057
36,149
272579
136738
34,214
4,574
72,646
224514
92,387
57,588
5,628
10,183

276681
122178
55,107
37,630
274840
137835
34,668
4,599
73,296
225675
93,283
58,113
5,642
9,764

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.