Full text of G.19 Consumer Credit : February 5, 1988

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G.19

For immediate release
February 5, 1988

CONSUMER INSTALLMENT CREDIT
Consumer installment credit outstanding increased $4.45 billion in December,
following a $2.63 billion rise in November. Tbe annual rate of increase in December
was 8.8 percent; for 1987 as a whole, installment credit advanced 6.0 percent — off
from tbe 10.5 percent 1986 pace. Tbe more rapid growth in December was in tbe
automobile and revolving credit categories. Mobile borne and "other" loans outstanding
contracted somewhat in December.

Net change in
amount outstanding
(millions of dollars)

Annual rate of growth
(percent)
1987

1987
FLOWS OF CREDIT
(seasonally adjusted)

Dec.1

Nov.

Oct.

Dec.P

Nov.r

Oct.

Total
Automobile
Revolving
Mobile home
Other

4,450
2,520
2,321
-118
-273

2,634
424
477
54
1,679

2,881
1,240
1,438
-22
225

8.8
11.7
19.4
-5.5
-1.8

5.2
2.0
4.0
2.5
11.3

5.7
5.8
12.2
-1.0
1.5

1987
TERMS OF CREDIT
(not seasonally adjusted)
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 term at
auto finance companies 3/
Maturity (months)
New-car loan
Used-car loan
Loan-to-value ratio (percent)
New-car loan
Used-car loan
Amount financed (dollars)
New-car loan
Used-car loan




Dec.

1986

Nov.

Oct.

Sept.

Dec.

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

10.86
14.58
13.62
17.82

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

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

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

12.23
14.97

12.24
14.90

10.31
14.76

8.71
14.58

11.71
15.12

55.5
45.3

55.4
45.3

52.8
45.2

50.7
45.2

53.3
42.7

93
99

94
99

93
99

93
98

93
98

11,645
7,718

11,630
7,646

11,585
7,537

11,455
7,476

10,835
7,168

CONSUMER INSTALLMENT CREDIT, BY HOLDER AND TYPE 4/
Millions of dollars except as noted
Net change during month

Total

Outstanding at end of month
Change from end of
Dec. 1986

Dec.1
1987
S.A.

Dec'
1987

Dec.
1986

N.S .A.

M . D .A.

10,913

612,571

621,442

586,259

35,183

6.0

1,438
-351

6,766
-946

780
976

525
566

11.7

-90

17

264,829
136,581
78,508
58,391
44,679
3,271

5.2
5.3
9.0

3,985

278,511
143,827
85,552
65,203
44,745
3,604

13,682
7,246
7,044
6,812

-119

274,984
143,788
84,839
64,788
40,647
3.525

66
333

10.2

424
654

n.a.

1,799

-824

-808
n.a.
n.a.

261,654
106,487
99,195
42,529
13,444

n.a.
106,423
98,272
n.a.
n.a.

n.a.
100,671
92,448
n.a.
n.a.

n.a.
5,752
5,824
n.a.
n.a.

n.a.

451

145,940
95,273
8,610
36,213
3,525
2,319

n.a.
98,903
n.a.
40,168
3,604
n.a.

n.a.
88,952
n.a.
40,193
3,271
n.a.

n.a.
9,951
n»a«

n.a.

n.a.
11.2
n.a.
-0.1
10.2
n.a.

25,612
8,357
8,470
8,785

n.a.
8,402
8,543
n.a.

n.a.
8,859
9,105
n.a.

n.a.
-457
-562
n.a.

n.a.
-5.2
-6.2
n.a.

179,365
64,867
36,123
39,992
33,949
4,433

n.a.
64,783
37,012
n.a.
n.a.
4,577

n.a.
66,347
35,028
n.a.
n.a.
4,486

n.a.
-1,564
1,984
n.a.
n.a.

n.a.
-2.4

91

2.0

Dec.K
1987

Nov.
1987

9 »A.

O .A.

4,450

2,634

2,710
1,021

420
287
88
-76

Dec.*'
1987
N.S .A.

Percent

Amount

Major holder
Commercial banks
Finance companies 5/
Credit unions
Savings institutions
Retailers
Gasoline companies

0.1

Major credit type 6/
Automobile
Commercial banks
Finance companies
Credit unions
Saving8 institutions

2,520

211
60

391
203

Revolving 7/
Commercial banks
Saving8 institutions
Retailers
Gasoline companies
Credit unions

2,321
2,281

477
532
130

Mobile home
Commercial banks
Finance companies
Savings institutions

-118

Other
Commercial banks
Finance companies
Credit unions
Savings institutions
Retailers

38
65
-76
11

-116

-90
21

196

n.a.
6,367
n.a.
3,792

17
n.a.

39

54
-46
-32
132

n.a.

-273

1,679

n.a.

28

298
505
368
511
-4

274
-62

-50
-108

-671

198
150
22

n.a.

-71
-76

n.a.
n.a.

193

-25
333

5.7
6.3
n.a.
n.a.

5.7
n.a.
n.a.

1. Interest rates are annual percentage rates as specified by Regulation Z.
2. Commercial bank data are simple unweighted averages of each hank's "most commmon" 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. The Board's series on amounts of credit 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. Includes outstanding balances on some
securitized consumer loans originated by financial institutions.
5. More detail for finance companies is available in the G.20 Statistical Release, Finance
Companies.
6. Not seasonally adjusted data are unavailable by type of credit for certain holders. In these
cases, the seasonally adjusted total for the holder group has been allocated among the components
using the latest available benchmark information.
7. Excludes 30-day charge credit held by travel and entertainment companies.
n.a." Data not available.
S.A.- Seasonally adjusted,
r • revised.
p m preliminary.

N.S.A.« Not seasonally adjusted.

The G.19 Statistical Release is issued around the fifth working day of each month.
date and time may be obtained by calling (202) 452-3206.



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