Full text of G.19 Consumer Credit : February 14, 1985

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FEDERAL RESERVE statistical release
G.19

For immediate r e l e a s e
F e b r u a r y 14, 1985

CONSUMER INSTALLMENT' CREDIT
Consumer i n s t a l l m e n t c r e d i t o u t s t a n d i n g i n c r e a s e d i n December by $ 6 . 9 5 b i l l i o n ,
s e a s o n a l l y a d j u s t e d , f o l l o w i n g g a i n s of $ 7 . 9 5 b i l l i o n
i n November and $ 6 . 2 8 b i l l i o n i n
October.
The a n n u a l
rate
of g r o w t h i n December was
18.1 p e r c e n t ,
compared
with
21.0 percent
i n November and 1 6 . 8 p e r c e n t
in October.
Installment credit outstanding
r o s e $ 8 0 . 9 b i l l i o n , or 2 0 . 4 p e r c e n t , f o r t h e y e a r a s a w h o l e .
A u t o m o b i l e c r e d i t i n c r e a s e d $2.07 b i l l i o n i n December, on a s e a s o n a l l y a d j u s t e d
b a s i s , o f f from
the $2.72
billion rise
i n November.
Revolving
credit
outstanding
a d v a n c e d by $1.57 b i l l i o n i n December, somewhat b e l o w t h e $ 1 . 7 1 b i l l i o n g a i n i n November.
The r e m a i n i n g
two c a t e g o r i e s of
consumer
installment
credit
rose $3.31 b i l l i o n in
December, down from t h e $ 3 . 5 1 b i l l i c * . i n c r e a s e i n November.

FLOWS OF CREDIT
M i l l i o n s of d o l l a r s
(seasonally adjusted)

Net Change in
Amount Outstanding

Annual Rate of Growth
(percent])

1984

1984

Dec.
Total
Automobile
Revolving
M o b i l e home
Other

Nov.

Oct.

Dec.

Nov.

Oct.

6,948
2,066
1,571
-29
3,340

7,950
2,724
1,714
-29
3,541

6,275
2,357
1,496
-216
2,638

18.1
14.8
20.3
-1.4
22.8

21.0
19.8
22.5
-1.4
24.7

16.8
17.4
20.0
-10.0
18.7

1984
TERMS OF CREDIT
(not s e a s o n a l l y a d j u s t e d )
I n t e r e s t r a t e s 1/
Commercial banks 2 /
48-mo. new-car loan
24-mo. p e r s o n a l loan
120-mo. m o b i l e home l o a n
Credit card plan
Auto f i n a n c e c o m p a n i e s 3 /
New-car l o a n
Used-car loan
Other terms a t
auto f i n a n c e companies 3 /
M a t u r i t y (months)
New-car l o a n
Used-car loan
L o a n - t o - v a l u e r a t i o (%)
New-car l o a n
Used-car loan
Amount financed ($)
New-car loan
Used-car loan




Dec*

Nov,

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

13.91
16.63
15.60
18.82

15.24
18.34

1983
Oct.

Sept.

Dec.

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

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

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

15.24
18.30

15.18
18.19

15.16
18.10

13.92
18.06

50.2
39.8

50.0
39.9

49.7
39.9

49.5
39.9

46.3
37.9

89
93

89
93

88
93

89
93

87
92

9,707
5,975

9,577
5,900

9,449
5,826

9,402
5,792

9,167
5,401

(CONSUMER INSTALLMENT

CREDIT BY HOLDER AND TYPE

( M i l l i o n s of d o l l a r s except a s noted)

Installment credit
holder and type

Net change d u r i n g
Dec .
Nov .
Dec .
1984
1984
1984

Change from end of
Dec. 1983
amount
percent

D. A .

o. A.

6,948

7,950

13,498

468,691

477,014

396,082

1,932

20.4

3,028
796
1,130
635
1,121
-11
249

2,483
1,718
1,990
336
1,143
102
178

5,756
1,352
1,330
3,873
1,048
-24
163

208,705
111,854
67,386
36,263
31,854
4,218
8,411

212,391
112,548
67,858
39,873
31,905
4 , 108
8,331

171,978
102,862
53,471
35,911
21,615
4 , 131
6,114

40,413
9,686
14,387
3,962
10,290
-23
2,217

23.5
9.4
26.9
11.0
47.6
-0.6
36.3

Automobile
Commercial banks
Finance companies
Credit unions

2,066
1,275
254
537

2,724
1,019
750
955

1,856
1, 175
45
636

169,514
85,081
52,203
32,230

169,951
85,501
51,994
32,456

142,449
67,557
49,318
25,574

27,502
17,944
2,676
6,882

19.3
26.6
5.4
26.9

Revolving
Commercial banks
Retailers 4/
G a s o l i n e companies

1,571
1,001
581
-11

1,714
1,289
323
102

7,599
3,908
3,715
-24

94,617
57,479
32,920
4,218

101,067
60,549
36,410
4,108

80,823
44,184
32,508
4,131

20,244
16,365
3,902
-23

-29
29
-252
181
13

-29
-1
-232
184
20

206
-3
9
186
14

25,646
9,610
9,660
5,663
713

25,892
9,610
9,901
5,663
718

23,680
9,842
9,365
3,906
567

2,212
-232
53 6
1,757
151

9.3
-2.4
5.7
45.0
26.6

3,340
723
794
580
54
940
249

3,541
176
1,200
1,015
13
959
178

3,837
676
1,298
680
158
862
163

178,914
56,535
49,991
34,443
3,343
26,191
8,411

180,104
56,731
50,653
34,684
3,463
26,242
8,331

149,130
50,395
44,179
27,330
3,403
17,709
6,114

30,974
6,336
6,474
7,354
60
8,533
2,217

20.8
12.6
14.7
26.9
1.8
48.2
36.3

Total
By major

IN• o . A .

Outstanding a t end of
Dec.
Dec
Dec.
1984
1984
1983
N. S.A.
N.S.A.
S.A.

holder

Commercial banks
F i n a n c e companies
Credit unions
Retailers 4/
S a v i n g s and l o a n s
G a s o l i n e companies
Mutual s a v i n g s banks
By major c r e d i t

type

Mobile home
Commercial banks
F i n a n c e companies
S a v i n g s and l o a n s
Credit unions
Other
Commercial banks
F i n a n c e companies
Credit unions
Retailers 4/
S a v i n g s and l o a n s
Mutual s a v i n g s banks

'

25.0
37.0
12.0
-0.6

1. I n t e r e s t r a t e s a r e annual pe r c e n t a g e r a t e s a s s p e c i f i e d by R e g u l a t i o n Z.
2. Commercial bank d a t a are s i m p l e unwe i g h t e d a v e r a g e s of e a c h bank 1 s "most common" r a t e cha rged

during the f i r s t calendar week of the month.
3. Finance company data from the s u b s i d i a r i e s of the t h r e e major U.S. automobile manufacturers
a r e volume-weighted a v e r a g e s covering a l l l o a n s of each type purchased d u r i n g t h e month.
4. Includes auto d e a l e r s and excludes 30-day charge c r e d i t h e l d by t r a v e l and e n t e r t a i n m e n t
companies.
5. n . a . - Data not a v a i l a b l e .
S. A. = S e a s o n a l l y a d j u s t e d .
N. S.A. = Not s e a s o n a l l y
adjusted.
NOTE: The B o a r d ' s s e r i e s on amounts of c r e d i t covers most s h o r t - and i n t e r m e d i a t e - t e r m c r e d i t
extended to i n d i v i d u a l s through r e g u l a r b u s i n e s s c h a n n e l s , u s u a l l y to finance the purchase of
consumer goods and s e r v i c e s or to r e f i n a n c e d e b t s i n c u r r e d for such p u r p o s e s , and scheduled to be
repaid (or with the o p t i o n of repayment) in two or more i n s t a l l m e n t s .
The G.19 S t a t i s t i c a l Release i s i s s u e d about t h e middle of each month. The exact d a t e and time
of each monthly r e l e a s e w i l l be announced, when the Information i s a v a i l a b l e , on (202) 452-3206.
Benchmark r e v i s i o n s w i l l be i n c o r p o r a t e d in the G.19 s e r i e s with t h e data for January 1985.