Full text of G.19 Consumer Credit : February 7, 1991
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;oico^v.. FEDERAL RESERVE statistical release For immediate release February 7, 1991 G.19 CONSUMER INSTALLMENT CREDIT Consumer installment credit outstanding declined $1.45 billion in December, following a $2.76 billion increase in November. Apart from small dip in February 1989, the last significant declines in consumer installment debt were in January and February of 1987. In December, auto credit posted a gain while all other credit types — revolving, mobile home, and "other" — declined. Net change in amount outstanding (millions of dollars) 1990 Dec p Nov r Oct Annual rate of growth (percent) 1990 Dec p Nov r Oct CHANGE IN CREDIT, BY TYPE 1/ (seasonally adjusted) otal Automobile Revolving Mobile home Other -1,447 2,762 786 81 -1,226 -788 -219 1,375 27 1,372 -859 1,577 -182 1,279 836 -2.3 3.3 -6.7 -42.0 -1.2 4.5 0.3 7.6 1.4 7.3 1990 Dec Nov Sep Oct 2.2 -3.6 8.7 -9.6 4.8 1989Dec TERMS OF CREDIT 2/ (not seasonally adjusted) Interest rates Commercial banks 48-mo. new car loan 24-mo. personal loan 120-mo. mobile home loan Credit card plan Auto finance companies New car loan Used car loan n .a . n.a . n .a . n.a. 12.86 16.04 Other terms at auto finance companies Maturity (months) New car loan 54.7 Used car loan 45.8 Loan-to-value ratio (percent) New car loan 85 Used car loan 94 Amount financed (dollars) New car loan 12,140 Used car loan 8,530 11.62 15.69 13.99 18.23 n.a. n.a . n .a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 12.74 16.07 12.57 16.12 12.34 16.03 13.27 16.10 54.6 46.0 54.6 45.1 54.3 46.1 55.1 45.5 85 95 85 95 85 95 89 96 11,986 8,494 11,917 8,423 11,837 8,403 12,301 8,096 CONSUMER INSTALLMENT CREDIT, BY HOLDER AND TYPE 1/ Millions of dollars Dec p 1990 Nov r 1990 Oct 1990 Sep 1990 Aug 1990 Dec 1989 Nov 1989 seasonally adjusted Total Automobile Revolving Mobile home Other 737,910 739,357 736,595 735,222 732,385 716,624 713,903 285,269 218,531 21,730 212,380 284,483 219,757 22,518 212,599 284,402 218,381 22,491 211,320 285,261 216,804 22,672 210,484 285,283 214,492 22,976 209,635 290,770 197,110 22,343 206,401 290,972 194,679 22,197 206,055 not seasonally adjusted 749,852 740,346 737,252 737,260 734,511 727,561 715,145 351,198 155.641 135,641 91,203 49,594 42,111 -4,747 r,/T# 75,358 346,128 159.195 139,195 91,174 50,310 37,470 4,701 -r,#vx 71,368 344,875 141.529 141,329 91,406 50,787 36,047 4,718 -rytJLfj 68,090 344,941 140.ft90 140,890 91,311 51,358 36,682 4,723 -r, / t--» 67,355 342,987 139.496 139,496 91,306 52,399 37,231 -4,722 T,/CC 66,370 343,865 140.ft52 140,832 90,875 57,228 42,638 3,935 J , 7_>^» 48,188 337,285 142.An? 142,802 90,965 58,236 37,906 3,853 _>><JZJ_> 44,098 Automobile Commercial banks Finance companies Pools of securitized assets 3/ 284,841 126,050 74,397 24,198 285,877 127,039 75,224 23,159 287,730 128,133 78,033 20,786 289,255 128,937 78,116 21,239 288,221 128,079 77,205 21,562 290,421 126,613 82,721 18,191 292,543 128,111 85,725 15,376 Revolving Commercial banks Retailers Gasoline companies Pools of securitized assets 3/ 230,769 133,687 37,535 4,747 43,808 219,713 129,111 32,993 4,701 41,797 216,285 127,950 31,601 4,718 40,798 214,853 126,995 32,212 4,723 39,606 213,119 125,967 32,735 4,722 38,194 208,188 130,956 37,967 3,935 22,977 194,640 122,728 33,432 3,853 22,186 21,671 10,048 3,756 22,646 9,351 5,364 22,720 9,363 5,400 22,815 9,396 5,423 23,033 9,541 5,358 22,283 9,155 4,716 22,319 9,144 4,682 212,571 81,413 57,488 4,576 212,110 80,627 58,607 4,477 210,517 79,429 57,896 4,446 210,337 79,613 57,351 4,470 210 138 79,400 56,933 4,496 206,669 77,141 53,395 4,671 205,643 77,302 52,395 4,474 7,352 6,412 6,506 6,510 6,614 7,020 6,536 Total Major holder Commercial banks Finance companies Credit unions Savings institutions Retailers Gasoline companies V7ci:>u j . JLI its i~<_niipcii ixts^ Pools of securitized assets 3/ Major credit type 4/ Mobile homes Commercial banks Finance companies Other Commercial banks Finance companies Retailers Pools of securitized assets (incl. mobile homes) 3/ 1. 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. 2. Interest rates are annual percentage rates as specified by Regulation Z. Commercial bank data are simple unweighted averages of each bank's "most common" rate charged during the first calendar week of the month. 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. 3. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originator. 4. Type-of-credit totals include estimates for certain holders for which only consumer credit totals are available. r = revised. p = preliminary. 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. The exact