Full text of G.19 Consumer Credit : December 7, 2000

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G.19

CONSUMER CREDIT

For release at 3 p.m. (Eastern Time)

October 2000

December 7, 2000

Consumer credit grew at a 7 percent annual rate in October, about unchanged from September’s pace (see footnote 7). In October, a fall in revolving credit growth was about offset by a rise
in nonrevolving credit growth.

CONSUMER CREDIT OUTSTANDING1
Seasonally adjusted
1999

Percent change at annual rate2
Total
Revolving
Nonrevolving3
Amount: billions of dollars
Total
Revolving
Nonrevolving3

1995

1996

1997

1998

1999

Q3

14.1
21.2
9.7

7.9
12.7
4.7

4.4
6.4
3.0

5.4
5.5
5.3

7.1
6.3
7.8

5.3
4.0
6.3

1,095.8
443.1
652.7

1,182.6
499.4
683.1

1,234.5
531.2
703.3

1,301.0
560.5
740.5

1,393.7
595.6
798.0

2000
Q4

Q3

r

r

Aug

r

Sep

Oct

p

Q1

Q2

8.0
7.7
8.3

10.2
13.3
7.9

9.4
12.5
7.1

8.2
9.2
7.5

10.9
12.6
9.5

7.2
7.8
6.7

7.0
4.2
9.1

1,366.3
584.4
781.9

1,393.7
595.6
798.0

1,429.2
615.5
813.7

1,462.8
634.7
828.2

1,492.9
649.3
843.6

1,484.1
645.1
839.0

1,492.9
649.3
843.6

1,509.6
656.7
852.9

TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES4
Percent except as noted: not seasonally adjusted
Institution, terms, and type of loan
Commercial banks
Interest rates
48-mo. new car
24-mo. personal
Credit card plan
All accounts
Accounts assessed interest

9.57
13.94

9.05
13.54

9.02
13.90

8.72
13.74

8.44
13.39

8.44
13.38

8.66
13.52

8.88
13.76

9.21
13.88

9.62
13.85

9.62
13.85

n.a.
n.a.

n.a.
n.a.

15.90
15.64

15.63
15.50

15.77
15.57

15.71
15.59

15.21
14.81

15.08
14.79

15.13
14.77

15.47
14.32

15.39
14.74

15.98
15.35

15.98
15.35

n.a.
n.a.

n.a.
n.a.

New car loans at auto finance companies
Interest Rates
11.19
Maturity (months)
54.1
Loan-to-Value Ratio
92
Amount financed (dollars)
16,210

9.84
51.6
91
16,987

7.12
54.1
92
18,077

6.30
52.1
92
19,083

6.66
52.7
92
19,880

6.48
51.9
92
20,013

7.27
53.5
91
20,517

7.09
52.9
92
20,368

6.43
54.3
93
20,504

7.06
55.7
91
20,694

7.46
55.7
92
20,664

7.16
55.9
91
21,010

4.74
57.6
93
22,069

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.
Footnotes appear on reverse.

CONSUMER CREDIT OUTSTANDING
(Billions of dollars)
Not seasonally adjusted
1999
1995

1996

1997

1998

1999

Q3

Q4

Q1

Q2

2000
r
r
Q3
Aug

r

Sep

Oct

p

Total

1,122.8 1,211.6 1,264.1 1,331.7 1,426.2 1,368.9 1,426.2 1,416.0 1,454.0 1,495.6 1,486.0 1,495.6 1,513.7

Major holders
Total
Commercial banks
Finance companies
Credit unions
Savings institutions
Nonfinancial business
Pools of securitized assets5

1,122.8 1,211.6 1,264.1 1,331.7 1,426.2 1,368.9 1,426.2 1,416.0 1,454.0 1,495.6 1,486.0 1,495.6 1,513.7
502.0 526.8 512.6 508.9 499.8 472.5 499.8 497.1 506.2 521.8 520.4 521.8 521.5
152.1 152.4 160.0 168.5 181.6 173.0 181.6 183.7 190.3 197.3 196.6 197.3 200.8
131.9 144.1 152.4 155.4 167.9 162.9 167.9 169.2 176.0 181.6 180.7 181.6 183.0
40.1
44.7
47.2
51.6
61.5
60.1
61.5
59.0
61.0
62.6
62.0
62.6
62.8
85.1
77.7
78.9
74.9
80.3
67.5
80.3
72.9
73.5
72.1
73.0
72.1
70.8
211.6 265.8 313.1 372.4 435.1 433.0 435.1 434.0 447.0 460.3 453.3 460.3 474.7

Major types of credit6
Revolving
Commercial banks
Finance companies
Credit unions
Savings institutions
Nonfinancial business
Pools of securitized assets5

464.1
210.3
28.5
15.5
8.4
53.5
147.9

522.9
228.6
32.5
17.8
10.3
44.9
188.7

555.9
219.8
38.6
19.6
11.4
45.0
221.5

586.5
210.3
32.3
19.9
12.5
39.2
272.3

623.2
189.4
33.8
20.6
15.8
42.8
320.8

581.3
168.9
30.7
19.4
13.5
34.2
314.6

623.2
189.4
33.8
20.6
15.8
42.8
320.8

609.0
184.9
31.5
19.7
15.0
37.4
320.6

627.9
194.8
33.1
20.2
15.5
37.1
327.3

645.8
202.4
35.4
20.8
16.3
35.8
335.1

641.3
204.0
33.6
20.8
16.0
36.7
330.2

645.8
202.4
35.4
20.8
16.3
35.8
335.1

654.7
201.9
37.1
20.8
16.5
34.5
343.8

Nonrevolving
Commercial banks
Finance companies
Credit unions
Savings institutions
Nonfinancial business
Pools of securitized assets5

658.7
291.7
123.7
116.5
31.7
31.5
63.7

688.7
298.2
119.9
126.3
34.4
32.8
77.1

708.2
292.7
121.4
132.8
35.7
34.0
91.6

745.2
298.6
136.2
135.5
39.2
35.7
100.1

802.9
310.4
147.8
147.3
45.7
37.5
114.2

787.7
303.6
142.2
143.5
46.6
33.3
118.4

802.9
310.4
147.8
147.3
45.7
37.5
114.2

806.9
312.2
152.2
149.5
44.0
35.5
113.5

826.1
311.5
157.2
155.9
45.5
36.4
119.7

849.8
319.4
161.9
160.8
46.3
36.3
125.2

844.8
316.4
163.0
159.9
46.0
36.4
123.1

849.8
319.4
161.9
160.8
46.3
36.3
125.2

859.0
319.6
163.7
162.2
46.3
36.3
130.9

1. Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate.
2. Percent changes calculated from unrounded data.
3. Includes automobile loans and all other loans not included in revolving credit, such as loans for mobile homes, education, boats, trailers, or vacations. These loans may be
secured or unsecured.
4. Interest rates are annual percentage rates (APR) as specified by the Federal Reserve’s Regulation Z. Interest rates for new-car loans and personal loans 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. For credit card accounts, the rate for all accounts
is the stated APR averaged across all credit card accounts at all reporting banks. The rate for accounts assessed interest is the annualized ratio of total finance charges at all reporting banks
to the total average daily balances against which the finance charges were assessed (excludes accounts for which no finance charges were assessed). 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.
5. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators.
6. Includes estimates for holders that do not separately report consumer credit holding by type.
7. The level of consumer credit outstanding in October and its revolving and nonrevolving components include previously unreported assets, and thus represent breaks in these series.
The October growth rates are adjusted to exclude these previously unreported assets.
r=revised. p=preliminary.