Full text of G.19 Consumer Credit : February 8, 1990
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FEDERAL RESERVE statistical release ?f%zns&yy For immediate release February 8, 1990 G.19 CONSUMER INSTALLMENT CREDIT Consumer installment credit outstanding increased $4.9 billion in December, following a $4.6 billion gain in November. For 1989 as a whole, outstanding credit grew 6 percent—down from the 8-1/2 percent advance in 1988. In December, revolving credit strengthened further while auto and "other" borrowings rose at a slower pace. Mobile home loans outstanding grew in December after declining in the previous month. Net change in amount outstanding (millions of dollars) 1989 Dec p Nov r Oct Annual rate of growth (percent) 1989 Dec p Nov r Oct CHANGE IN CREDIT, BY TYPE 1/ (seasonally adjusted) Total Automobile Revolving Mobile home Other 4,913 4,598 3,191 259 453 993 4,062 2,861 -380 1,664 1,076 35 557 7, 1. 17. -19. 10. 8. 1. 24. 1. 3. -44 1,166 5.4 4.1 6.6 -2.3 7.1 1989- Dec Nov Oct 1988Dec Sep 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 . 13.27 16.10 Other terms at auto finance companies Maturity (months) New car loan 55.1 Used car loan 45.5 Loan-to-value ratio (percent) New car loan 89 Used car loan 96 Amount financed (dollars) New car loan 12,301 Used car loan 8,096 11.94 15.42 13.97 18.07 n.a. n.a. n.a. n.a . n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 13.27 16.09 13.04 16.17 12.42 16.22 13.25 15.80 55.1 45.6 54.4 45.8 53.1 46.2 56.3 46.0 89 96 88 96 88 96 94 98 12,279 8,063 11,965 7,904 11,841 7,856 12,068 8,022 CONSUMER INSTALLMENT CREDIT, BY HOLDER AND TYPE 1/ Millions of dollars Dec p 1989 S.A. Nov r 1989 S.A. 717,074 712,160 707,562 704,371 703,001 334,936 140,484 89,886 57,693 42,744 3,835 332,675 141,396 89,677 58,264 42,554 3,828 330,746 141,273 89,856 58,890 42,319 3,804 327,327 144,188 89,892 59,883 42,221 3,886 326,135 144,386 90,016 59,229 41,989 3,976 47,495 43,766 40,675 36,974 37,270 Automobile Commercial banks Finance companies Credit unions Savings institutions Pools of sec. assets 4/ 289,459 127,285 83,572 42,865 17,332 18,404 289,200 128,654 84,707 42,720 17,504 15,615 288,747 128,238 84,814 42,761 17,692 15,243 287,754 126,759 88,317 42,733 17,990 11,955 288,533 126,597 89,439 42,747 17,603 12,147 281,174 123,259 97,204 41,326 19,385 n.a. n.a. 127,667 83,631 n.a. n.a. 18,404 n.a. 123,621 97,245 n.a. n.a. n.a. Revolving 6/ Commercial banks Savings institutions Retailers Gasoline companies Credit unions Pools of sec. assets 4/ 203,301 122,404 10,775 37,804 3,835 5,406 23,077 199,240 119,254 10,881 37,639 3,828 5,351 22,286 196,379 118,801 10,998 37,435 3,804 5,319 20,021 195,302 117,868 11,183 37,355 3,886 5,279 19,731 194,398 117,012 11,206 37,134 3,976 5,244 19,827 174,792 117,572 10,151 38,692 3,687 4,691 n.a. n.a. 127,582 n.a. 41,910 3,822 n.a. 23,077 n.a. 122,559 n.a. 42,893 3,674 n.a. n.a. 22,602 9,001 4,846 8,756 22,567 8,941 4,783 8,843 22,947 8,724 5,272 8,951 22,991 8,788 5,087 9,116 22,938 8,808 5,100 9,030 25,744 8,974 7,186 9,583 n.a. 8,989 4,848 n.a. n.a. 8,966 7,191 n.a. 201,711 76,246 52,066 41,615 20,830 4,940 201,154 75,826 51,906 41,606 21,036 4,914 199,490 74,983 51,187 41,776 21,249 4,884 198,324 73,912 50,784 41,880 21,593 4,866 197,132 73,718 49,847 42,025 21,390 4,855 177,798 69,120 40,790 40,102 22,981 4,807 n.a. 75,865 53,314 n.a. n.a. 5,107 n.a. 68,785 41,776 n.a. n.a. 4,970 6,014 5,865 5,411 5,288 5,296 n.a. 6,014 n.a. Total Oct 1989 S.A. Sep 1989 S.A. Aug 1989 S.A. Dec p 1989 N.S.A. Dec 1988 N.S.A 659,507 729,322 671,362 318,925 145,180 86,118 62,099 43,498 3,687 340,103 141,793 90,920 58,172 47,017 3,822 323,931 146,212 87,110 62,572 47,863 3,674 Dec 1988 S.A. Major holder Commercial banks Finance companies 3/ Credit unions Savings institutions Retailers Gasoline companies Pools of securitized assets 4/ 47,495 Major credit type 5/ Mobile homes Commercial banks Finance companies Savings institutions Other Commercial banks Finance companies Credit unions Savings institutions Retailers Pools of sec. assets (incl. mobile homes) 4/ 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. More detail for finance companies is available in the G.20 Statistical Release, Finance Companies. 4. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originator. 5. 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. 6. Excludes 30-day charge credit held by travel and entertainment companies. n.a.= Data not available. S.A.= Seasonally adjusted, r = revised. p = 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. The exact