Full text of G.19 Consumer Credit : February 14, 1984

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FEDERAL RESERVE statistical release
G.19

For immediate release
February 14, 1984

CONSUMER INSTALLMENT CREDIT
Consumer installment credit outstanding Increased in December by a record $6.61 billion,
seasonally adjusted, compared with $4.67 billion gain in November and a previous record of
$4.89 billion in October.
The annual rate of growth in consumer credit was 21-1/4 percent in
December and 17-3/4 percent for the fourth quarter as a whole. For all of 1983, consumer credit
outstanding increased by 12-3/4 percent following a 4 percent advance in 1982.
All major components contributed to the overall Increase during December. Automobile
credit expanded by $2.02 billion (compared with $1.24 billion in November), revolving credit grew
by $1.72 billion ($1.30 billion in November), and the large "other" category increased by
$2.74 billion ($2.03 billion in November).

FLOWS OF CREDIT
Millions of dollars
(seasonally adjusted)

Net Change in
Amount Outstanding

Annual Rate of Growth
(percent)
1983

1983
December

Total
Automobile
Revolving
Mobile home
Other

6,614
2,019
1,723

November

October

December

4,671
1,238
1,300

4,885
1,772
1,145

21.2
16.8
29.3

November

15.1
10.4
22.5

Interest rates 1/
Commercial banks 2/
48-mo. new-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
Maturity (months)
New-car loan
Used-car loan
Loan-to-value ratio (%)
New-car loan
Used-car loan
Amount financed ($)
New-car loan
Used-car loan




16.0
15.1
20.1

136

107

102

8.1

6.4

6.1

2,736

2,026

1,866

23.5

17.6

16.5

1982

1983
TERMS OF CREDIT
(not seasonally adjusted)

October

«•«•«••••«•
November
December

October

September

August

December

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

13.46
16.39
15.47
18.75

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

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

13.50
16.28
15.58
18.75

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

13.92
18.06

13.50
18.16

13.54
18.15

13.62
18.21

12.77
18.25

12.57
20.63

46.3
37.9

46.3
38.0

46.2
38.0

46.2
38.0

45.9
38.0

46.4
36.9

87
92

86
93

86
93

87
93

87
93

87
90

8,982
5,213

8,792
5,144

9,167
5,401

9,118
5,316

8,724
5,103

8,468
4,846

CONSUMER INSTALLMENT CREDIT BY HOLDER AND TYPE
(Millions of dollars except as noted)

Installment credit
holder and type
Total

Net change during
Nov.
Dec.
Dec.
1983
1983
1983
S.A.
S.A.
N.S.A.
6,614

4,671

11,537

4,688
-24
731
659
513
-31
78

2,749
205
912
251
438
58
58

Automobile
Commercial banks
Finance companies
Credit unions

2,019
2,131
-461
349

Revolving
Commercial banks
Retailers 4/
Gasoline companies

Outstanding at end of
Dec.
Change from end of
Dec.
Dec.
1983
1983
1982
Dec. 1982
S.A.
N.S.A.
N.S.A. amount
percent
387,927

344,174

43,753

12.7

6,429
166
893
3,515
488
-26
72

174,699 177,252
97,231
97,688
53,152
53,471
30,113
33,183
18,484
18,568
4,224
4,131
3,601
3,634

151,445
94,322
47,253
30,202
13,891
4,063
2,998

25,807
3,366
6,218
2,981
4,677
68
636

17.0
3.6
13.2
9.9
33.7
1.7
21.2

1,238
1,302
-500
436

1,415
1,744
-756
427

146,079
71,834
48,824
25,421

146,078
71,778
48,726
25,574

129,603
58,227
48,780
22,596

16,475
13,551
-54
2,978

12.7
23.3
-0.1
13.2

1,723
1,148
606
-31

1,300
999
243
58

6,725
3,392
3,359
-26

72,362
41,701
26,437
4,224

77,467
43,965
29,371
4,131

67,184
36,688
26,433
4,063

10,283
7,277
2,938
68

15.3
19.8
11.1
1.7

136
18
-25
135
8

107
0
-14
111
10

105
-29
-10
135
9

20,371
9,715
4,973
5,119
564

20,471
9,732
5,033
5,139
567

18,988
9,684
4,965
3,836
503

1,483
48
68
1,303
64

7.8
0.5
1.4
34.0
12.8

2,736
1,391
462
374
53
378
78

2,026
448
719
466
8
327
58

3,292
1,322
932
457
156
353
72

142,692
51,449
43,434
27,167
3,676
13,365
3,601

143,911
51,777
43,929
27,330
3,812
13,429
3,634

128,399
46,846
40,577
24,154
3,769
10,055
2,998

15,512
4,931
3,352
3,176
43
3,374
636

12.1
10.5
8.3
13.1
1.2
33.6
21.2

381,504

By major holder
Commercial banks
Finance companies
Credit unions
Retailers 4/
Savings and loans
Gasoline companies
Mutual savings banks
By major credit type

Mobile home
Commercial banks
Finance companies
Savings and loans
Credit unions
Other
Commercial banks
Finance companies
Credit unions
Retailers 4/
Savings and loans
Mutual savings banks

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 common" 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. Includes auto dealers and excludes 30-day charge credit held by travel and entertainment
companies.
5. n.a.» Data not available.
S.A.* Seasonally adjusted.
N.S.A.8* Not seasonally adjusted.
NOTE: The Board's series on amounts of credit covers most short- and Intermediate-term credit
extended to individuals through regular business channels, usually to finance the purchase
of consumer goods and services or to refinance debts Incurred for such purposes, and scheduled to
be repaid (or with the option of repayment) in two or more installments.