Full text of G.19 Consumer Credit : February 7, 1995

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OF GOw.

FEDERAL RESERVE statistical release
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

G. 19

*«^&r-

For release at 4 p.m. (Eastern Time)
February 7, 1995
CONSUMER INSTALLMENT CREDIT
December 1994

Consumer installment credit outstanding increased $7.4 billion in December after seasonal adjustment down from a
gain of $12.2 billion in November. Both automobile and revolving credit grew less rapidly in December, with auto credit
adding $1.8 billion and revolving credit $2.7 billion. "Other" installment credit rebounded from a slow November with an
increase of $2.9 billion.
MONTHLY CHANGE IN CREDIT OUTSTANDING 1
Seasonally adjusted
Amount
Type of credit
(millions of dollars)
1994
Nov. r
Oct.
12,229
11,642
Total
4,648
Automobile
2,875
6,795
Revolving
4,883
3,884
787
Other 2

Dec. P
7,382
1,761
2,716
2,906

Annual rate
(percent)
1994
Nov, r
16.5
17.5
24.9
3.8

Oct.
15.9
10.9
18.2
19.3

Dcc.P
9.8
6.5
9.7
14.1

TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES 3
Percent except as noted, not seasonally adjusted
1994

1993
Institution, terms, and type of loan
Commercial banks
Interest rates
48-mo. new car loan
24-mo. personal loan
Credit card plan*
All accounts
Accounts assessed interest

Auto finance companies
Interest rates
New car
Used car
Maturity (months)
New car
Used car
Loan-to-value ratio
New car
Used car
Amount financed (dollars)
New car
Used car

Nov.

Dec.

May

Aug.

Nov.

Dec.

7.63
13.22

n.a.
a a.

7.76
12.96

8.41
13.33

8.75
13.59

n.a.
n.a.

n.a.
n.a.

n.a.
n.a.

n.a.
n.a.

n.a.
n.a.

15.91
15.74

n.a.
n.a.

8.96
12.41

8.80
12.33

9.92
13.51

10.32
13.92

10.53
14.19

10.72
14.48

54.5
48.4

54.0
48.3

53.5
50.6

54.2
50.1

54.6
50.3

53.9
50.3

91
98

90
98

93
99

93
100

93
100

92
100

14,839
10.230

15,097
10 349

15,194
10,606

15,283
10,7.*>5

! 5,971
11,202

16.187
i 1,309

* Data on credit c;ud rates now are being collected in ;» new survey that was conducted lor the !"ir>
for all accounts and for accounts assessed interest Jire described in footnote 3.
Other notes appeitr on reverse.




November, [{)l)4. The rntc-;

CONSUMER INSTALLMENT CREDIT OUTSTANDING
(Millions of dollars)
1994

1993

Type of credit and holder

Dec.

Jan.

Feb.

Mar.

Apr.

May

July

Aug.

Sept.

Oct.

Nov. r

Dec. P

854469
305193
313591
235685

869628
309721
321365
238542

879961
315162
322823
241976

891603
318036
327707
245860

903832
322684
334501
246646

911214
324444
337217
249552

June
Seasonally adjusted

Total
Automobile
Revolving
Other2

794300
282036
287875
224389

798844
283134
290165
225545

802720
284447
292604
225668

813750
288663
296710
228376

823342
293018
301260
229064

836936
298278
305528
233130

847715
303526
309472
234717

Not seasonally adjusted

Total
Major holders
Commercial banks
Finance companies
Credit unions
Savings institutions
Nonfinancial business4
Pools of securitized assets5

812782

806781

803323

810030

818956

830065

842126

847727

868049

880609

891442

905508

932771

368549
116453
101634
37855
57637
130654

367883
117482
100192
37617
55228
128379

366712
118034
100259
37380
53453
127485

369710
120113
101583
37141
53410
128073

376379
122806
102718
37472
53756
125825

380063
122204
105718
37803
54505
129772

386235
124318
108183
38134
55374
129882

393927
123202
109838
38055
55775
126930

404438
125197
113122
37975
56496
130821

410312
130306
114699
37943
55967
131382

414833
131562
116325
38122
56020
134580

421790
132874
118050
38275
58591
135928

433954
135140
121699
38750
65438
137790

Major types of credit6
Automobile
Commercial banks
Finance companies
Pools of securitized assets5
Revolving
Commercial banks
Nonfinancial business4
Pools of securitized assets5
Other
Commercial banks
Finance companies
Nonfinancial business4
Pools of securitized assets5

282825
123358
56057
39490
303444
149527
52113
79887
226513
95664
60396
5524
11277

283174
124238
57474
37426
296045
145673
49757
79444
227562
97972
60008
5471
11509

283806
124449
58253
36599
292487
144274
48017
79597
227030
97989
59781
5436
11289

288132
126949
58999
36613
293570
145701
47937
79768
228328
97060
61114
5473
11692

291957
130104
60660
34531
297740
149265
48279
79927
229259
97010
62146
5477
11367

297172
132979
59398
35836
301609
149972
49005
82064
231284
97112
62806
5500
11872

302874
136038
59788
35817
305758
153032
49845
82075
233494
97165
64530
5529
11990

304026
138907
58107
34436
309716
156940
50218
81704
233985
98080
65095
5557
10790

310925
142452
58589
34584
319003
161417
50873
85644
238121
100569
66608
5623
10593

316778
144260
60522
35149
321205
164724
50314
85051
242626
101328
69784
5653
11182

320182
146456
60750
34394
325872
165561
50332
88762
245388
102816
70812
5688
11424

322980
148004
61372
33664
336232
171318
52819
90775
246296
102468
71502
5772
11489

325461
148626
61170
33765
355357
180206
59364
92701
251953
105122
73970
6074
11324

1. 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. Comprises mobile home loans and all other installment loans not included in automobile or revolving credit, such as loans for education, boats, trailers, or vacations. These loans may be secured or unsecured.
3. 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.
4. Includes retailers and gasoline companies.
5. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators.
6. Includes estimates for holders that do not separately report consumer credit holding by type,
r = revised, p = preliminary.