Full text of G.19 Consumer Credit : February 5, 2010
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G.19 CONSUMER CREDIT For release at 3 p.m. (Eastern Time) December 2009 February 5, 2010 Consumer credit decreased at an annual rate of 4-3/4 percent in the fourth quarter of 2009. Revolving credit decreased at an annual rate of 13 percent, and nonrevolving credit was unchanged on net. In December, consumer credit decreased at an annual rate of 3/4 percent. CONSUMER CREDIT OUTSTANDING1 Seasonally adjusted 2008 Percent change at annual rate2 Total Revolving Nonrevolving3 Amount: billions of dollars Total Revolving Nonrevolving3 2005 2006 2007 2008 p 2009 4.5 3.8 4.9 4.1 5.0 3.6 5.6 7.8 4.4 1.6 1.9 1.4 2,291.0 829.8 1,461.2 2,384.8 871.3 1,513.5 2,519.5 939.6 1,579.9 2,559.1 957.3 1,601.8 r Q3 2009 p Q4 r Oct Nov r Dec p Q4 Q1 Q2 -4.0 -9.5 -0.7 -3.0 -7.3 -0.4 -3.5 -9.6 0.2 -4.8 -9.7 -1.9 -3.3 -7.3 -1.0 -4.7 -13.0 0.0 -2.7 -9.1 0.8 -10.6 -18.6 -6.1 -0.8 -11.7 5.2 2,456.8 866.0 1,590.9 2,559.1 957.3 1,601.8 2,537.0 934.3 1,602.7 2,506.8 911.7 1,595.1 2,486.1 895.0 1,591.0 2,456.8 866.0 1,590.9 2,480.4 888.3 1,592.1 2,458.6 874.5 1,584.1 2,456.8 866.0 1,590.9 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 7.07 12.06 7.72 12.41 7.77 12.38 7.02 11.37 6.72 11.10 7.06 11.44 6.92 11.05 6.79 11.25 6.61 10.89 6.55 11.20 n.a. n.a. 6.55 11.20 n.a. n.a. 12.51 14.55 13.21 14.73 13.30 14.68 12.08 13.57 13.40 14.31 12.03 13.36 12.97 13.54 13.32 14.43 13.71 14.90 13.59 14.37 n.a. n.a. 13.59 14.37 n.a. n.a. New car loans at auto finance companies Interest Rates 6.02 Maturity (months) 60.0 Loan-to-Value Ratio 88 Amount financed (dollars) 24,133 4.99 63.0 94 26,620 4.87 62.0 95 28,287 5.52 63.4 91 26,178 3.82 62.0 90 28,272 7.09 62.3 86 24,400 4.71 59.3 87 25,518 3.45 62.1 92 28,577 3.66 62.7 90 27,884 3.47 63.9 92 31,109 3.42 64.4 93 32,223 3.73 63.4 91 30,506 3.26 64.0 92 30,598 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 2008 2005 2006 2007 2008 p 2009 Q4 Q1 Q2 r Q3 2009 p Q4 r Oct Nov r Dec p Total 2,319.8 2,415.0 2,551.9 2,592.1 2,486.9 2,592.1 2,518.6 2,488.6 2,495.8 2,486.9 2,485.7 2,472.2 2,486.9 Major holders Total Commercial banks Finance companies Credit unions Federal government5 Savings institutions Nonfinancial business Pools of securitized assets6 2,319.8 2,415.0 2,551.9 2,592.1 2,486.9 2,592.1 2,518.6 2,488.6 2,495.8 2,486.9 2,485.7 2,472.2 2,486.9 707.0 741.2 804.1 878.6 830.5 878.6 850.7 837.8 832.7 830.5 829.0 830.9 830.5 516.5 534.4 584.1 575.8 489.9 575.8 546.8 526.5 520.7 489.9 499.7 489.5 489.9 228.6 234.5 235.7 235.0 236.4 235.0 234.8 236.2 240.3 236.4 237.9 237.0 236.4 89.8 91.7 98.4 111.0 186.0 111.0 122.7 135.4 157.8 186.0 182.3 183.7 186.0 109.1 95.5 90.8 86.3 82.5 86.3 80.0 75.9 78.1 82.5 79.6 81.0 82.5 58.8 56.7 55.3 55.3 51.6 55.3 50.5 49.3 48.5 51.6 48.4 49.2 51.6 609.9 661.1 683.6 650.0 610.0 650.0 633.0 627.5 617.7 610.0 608.7 600.9 610.0 Major types of credit Revolving Commercial banks Finance companies Credit unions Federal government5 Savings institutions Nonfinancial business Pools of securitized assets6 Nonrevolving Commercial banks Finance companies Credit unions Federal government5 Savings institutions Nonfinancial business Pools of securitized assets6 855.9 311.2 66.3 24.7 n.a. 40.8 11.6 401.4 899.2 327.3 79.9 27.4 n.a. 42.5 7.8 414.4 969.9 353.4 86.0 31.1 n.a. 44.8 4.6 450.0 988.2 390.6 74.4 33.4 n.a. 39.6 4.2 446.0 893.9 335.4 47.4 35.5 n.a. 37.2 4.2 434.2 988.2 390.6 74.4 33.4 n.a. 39.6 4.2 446.0 922.4 355.6 52.0 32.2 n.a. 35.9 3.7 443.1 904.4 343.7 50.0 33.5 n.a. 33.9 3.7 439.6 892.6 338.0 47.3 34.2 n.a. 36.3 3.8 433.0 893.9 335.4 47.4 35.5 n.a. 37.2 4.2 434.2 886.2 338.1 47.2 34.2 n.a. 36.6 3.8 426.1 883.4 339.4 47.1 34.6 n.a. 36.9 4.0 421.5 893.9 335.4 47.4 35.5 n.a. 37.2 4.2 434.2 1,463.9 1,515.8 1,582.1 1,603.9 1,593.0 1,603.9 1,596.2 1,584.2 1,603.2 1,593.0 1,599.5 1,588.7 1,593.0 395.8 413.9 450.7 488.1 495.0 488.1 495.1 494.1 494.7 495.0 490.9 491.5 495.0 450.2 454.5 498.0 501.3 442.5 501.3 494.9 476.6 473.3 442.5 452.4 442.4 442.5 203.9 207.1 204.6 201.6 201.0 201.6 202.7 202.8 206.1 201.0 203.7 202.3 201.0 89.8 91.7 98.4 111.0 186.0 111.0 122.7 135.4 157.8 186.0 182.3 183.7 186.0 68.3 53.1 46.0 46.8 45.4 46.8 44.2 42.0 41.8 45.4 43.0 44.2 45.4 47.2 48.9 50.7 51.1 47.4 51.1 46.8 45.5 44.7 47.4 44.6 45.2 47.4 208.6 246.7 233.6 204.0 175.8 204.0 189.9 187.8 184.8 175.8 182.5 179.4 175.8 1. Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate. 2. The series for consumer credit outstanding and its components may contain breaks that result from discontinuities in source data. Percent changes are adjusted to exclude the effect of such breaks. In addition percent changes are at a simple annual rate and are 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. Data for the Student Loan Marketing Association (Sallie Mae) are included in the Federal government sector until the completion of Sallie Mae’s privatization in 2004:Q4 and in the Finance company sector thereafter. 6. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators. r=revised. p=preliminary.
