Full text of G.19 Consumer Credit : January 5, 1979

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

FEDERAL

RESERVE

statistical

release

f^ffy
FOR IMMEDIATE RELEASE
JANUARY 5, 1979
CONSUMER INSTALMENT CREDIT -

NOVEMBER 1978

GROWTH IN CONSUMER INSTALMENT CREDIT OUTSTANDING ROSE IN NOVEMBER B^
$4*10 BILLION, COMPARED TO AN UPWARD-REVISED $3.37 BILLION GAIN IN OCTOBER. THE
NOVEMBER EXPANSION REPRESENTED A 19 PER CENT ANNUAL RATE OF GROWTH. THE AVERAGE
GROWTH RATE FOR OCTOBER AND NOVEMBER COMBINED WAS 17 PER CENT, THE SAME AS IN THE
THIRD QUARTER, AND BELOW THE HIGH OF 21 PER CENT IN THE SECOND QUARTER.
THE ADDITION TO OUTSTANDING CREDIT REFLECTED BOTH HIGHER NEW EXTENSIONS
OF CREDIT AND LOWER LIQUIDATIONS OF EXISTING CONSUMER DEBT. EXTENSIONS ROSE NEARLY
$456 MILLION TO $26.21 BILLION, WHILE LIQUIDATIONS, AFTER INCREASING IN OCTOBER, FELL IN
NOVEMBER BY $269 MILLION TO $22.12 BILLION. IN THE SIX MONTHS FROM MAY TO NOVEMBER,
EXTENSIONS EXPANDED BY 9 PER CENT AND LIQUIDATIONS BY 12 PER CFNT, AT ANNUAL RATES.

(IN MILLIONS OF DOLLARS)
NOV. 1978 I OCT. 1978 ! NOV. 1978 ! NOV . 1977 |LATEST 12 MONTHS
K N O T SEAS.ADJ.)
(SEASONALLY ADJ.)
(NOT SEAS. ADJ .)
!
__
|_
j__
22,229!
25,946!
295,630
26,2141
R 25,7581

INSTALMENT CREDIT
AMOUNT EXTENDED:
i

AUTOMOBILE
REVOLVING (1)
MOBILE HOMES
OTHER
AMOUNT LIQUIDATED
NET CHANGE IN AMOUNT
OUTSTANDING:
AUTOMOBILE
REVOLVING C D
MOBILE HOMES
OTHER
AMOUNT OUTSTANDING,
END OF MONTH

1
1
1

f

i

7,787!
9,176|
486!
8,765!
!

1

!

1

22,1151

R 7 t 50l!
8,846!
604!
R 8,807!
!
!
R22,384!

7,333!
9,525!
486!
8,602!
!
!
22,079!

l

i

i

I

1

1

1

1

1

!

|
j

4,099!
i
1,755!
665!
75!
1,604!

!
R 3,374!
I
!
R1,375!
346!
25!
R1,628!
i
I
»
(2)
!

3,867!i
•
1,406!
943!
91!
1,427|
•
I
!
269,445!

i
1
1
I

i

1

T

1
1

(2)

!
!

1

i

6,263!
8,049!
449!
7,468!
!
!
18,898!

88,452
103,131
6,044
98,003
251,135

1

1
!
3,331!

44,495

i

1,174!
974!
54!
1,129!
•

(4)
(4)
(4)
(4)

1

1

(2)

225,207!

NOTE: THE BOARD'S SERIES COVERS MOST SHORT- AND INTERMEDIATE-TERM CREDIT EXTENDED
TO INDIVIDUALS THROUGH REGULAR BUSINESS CHANNELS, USUALLY TO FINANCE THE
PURCHASE OF CONSUMER GOODS AND SERVICES OR TO REFINANCE DEBTS INCURRED FOR
SUCH PURPOSES, AND SCHEDULED TO BE REPAID (OR WITH THE OPTION OF REPAYING)
IN TWO OR MORE INSTALMENTS. DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING.
R DENOTES REVISED DATA.
(1)
CREDIT CARDS AT RETAILERS, GASOLINE COMPANIES AND COMMERCIAL BANKS, AND
CHECK CREDIT AT COMMERCIAL BANKS.
(2)
NOT APPLICABLE OR NOT AVAILABLE.
(3)
A VALUE FOR THE UNADJUSTED NET CHANGE IN OUTSTANDINGS APPEARS ALSO ON THE NEXT
TO LAST COLUMN ON THE NEXT PAGE, BUT MAY VARY SLIGHTLY, DUE TO DIFFERENT
AGGREGATION METHODS.
(4)
FOR VALUES SEE THE NEXT TO LAST COLUMN ON THE NEXT PAGE UNDER THE HEADING
"CHANGE FROM END OF NOVEMBER 1977 AMOUNT N.S.A."




(3)

CONSUMER INSTALMENT CREDIT BY HOLDER AND TYPE -

NOV.

1978

( I N MILLIONS OF DOLLARS)

E X T E N D E O

O U T S T A N D I N G

L I Q U I D A T E D

INSTALMENT CREDIT ©Y
HOLDER AND TYPE

NOV.
1978
S.A.

26,214

TOTAL

OCT.
1978
S.A.

12,476 R 12,1821
4,512
4,605f
3,530
3,4011
3,571
3,5181
489
R
5661
1,376
1,335|
260
1511

REVOLVING
COMMERCIAL BANKS
RETAILERS
GASOLINE COMPANIES
MOBILE HOMES
COMMERCIAL BANKS
FINANCE COMPANIES
SAVINGS AND LOANS
CREDIT UNIONS
OTHER

(1)
(2)
(3)




OCT.
1978
S.A.

22,487

25,946

22,115 R 22,384

10,602
3,650
2,952
3,410
391
1,247
235

11,878
4,662
3,387
3,949
507
1,331
232

10,551
3,494
2,751
3,385
401
1,377
156

6,719

7,333

4,160
2,321
1,839
1,427
1,132

NOV.
1977
S.A.

R 7,5011

!

END OF
NOV.
1978
N.S.A.

NOV.
1978
N.S.A.

18,891

22,079

4099

269,445

44*238

10,565
3,742
2,757
3,403
R 439
1,319
159

8,727
3,019
2,383
3,094
295
1,238
135

10,428
3,547
2,717
3,407
393
1,435
152

1925
1018
779
186
88
-1
104

133,908
53,099
45,305
23,006
8,291
3,173
2,663

23,773
9,138
8,242
1,473
977
207
428

6,032

6,126

5,179

5,927

1755

101,565

19,644

4,184
2,230
1,954
1,679
1,470

3,664
1,982
1,682
1,354
1,014

3,586
2,030
1,556
1,342
1,198

3,191
1,748
1,443
1,180
808

3,615
1,936
1,679
1,359
953

839
440
399
364
552

60,347
33,709
26,638
21,664
19,554

11*263

R 1,9611
1,643!
1,513!

9,176

8,846!

7,716

9,525

8,511

8,500

7,024

8,582

665

43,523

7,509

4,475!
3,036!
1,3351

3,484
2,985
1,247

4,700
3,494
1*331

4,146
2,988
1,377

4,138
3,043
1,319

3,105
2,681
1,238

4,141
3,006
1,435

556
110
-1

22,724
17*626
3,173

5,720
1,582
207

461

486

411

579

412

395

75

16,017

892

295
52
97
17

277
77
112
20

261
62
74
14

377
75
108
19

262
68
71
11

254
54
74
13

19
15
34
7

9,572
3,150
2,813
482

468
57
281
86

7,591

8,602

7,161

R 7,179

6,276

7,175

1604

108,340

16,193

2,663
2,466
1,508
425
294
235

2,717
3,115
1,688
455
395
232

2,480
2,418
1,383
397
327
156

2,464
2,469
1,396
360
R 331
159

2,169
2,143
1,192
413
224
135

2,418
2,540
1,345
401
319
152

511
451
408
76
54
104

41,265
30,395
23,159
5,380
5,478
2,663

4,702
3,098
1,376

R 4,345!
2,3841

!

»

!

486

604|

I

280
77
108
21

3521
73!

154!
25!

!

R 8,807!

2,901

!

2,869

R 3,0101
3,019!

1,791
473
381

1,733!
482!

412!
15l|
NET CHANGES FOR ALL MONTHS EQUAL EXTENSIONS MINUS LIQUIDATIONS (REPAYMENTS, CHARGEOFFS, AND OTHER CREDITS).
EXCLUDES 30-DAY CHARGE CREDIT HELD BY RETAILERS, GASOLINE COMPANIES, AND TRAVEL AND ENTERTAINMENT COMPANIES.
MUTUAL SAVINGS BANKS, SAVINGS AND LOAN ASSOCIATIONS, AND AUTO DEALERS.

NOTE:

CHANGE FROM END
OF NOV. 1977
AMOUNT
N.S.A.

4,503
2,422
2,081
1,718
1,566

8,765

COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS
SAVINGS AND LOANS
MUTUAL SAVINGS BANKS

NOV.
1978
S.A.

1
I
I

7,787

COMMERCIAL BANKS
INDIRECT PAPER
DIRECT LOANS
CREDIT UNIONS
FINANCE COMPANIES

NOV.
1978
N.S.A.

I
I
I
I

BY MAJOR CREDIT TYPE
AUTOMOBILE

NOV.
1977
S.A.

-I*25,758|

BY MAJOR HOLDER
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS (2)
SAVINGS AND LOANS
GASOLINE COMPANIES
MUTUAL SAVINGS BANKS

|
|
|

260

R

S . A . AND N . S . A . DENOTE SEASONALLY ADJUSTEO AND NOT SEASONALLY ADJUSTED DATA,
DETAILS MAY NOT ADO TO TOTALS DUE TO ROUNDING.
R DENOTES REVISED DATA.

RESPECTIVELY.

6,589
4,674
3,802
4,579

6,322

4,502
4,354
-109
696
428

NOTE
The consumer instalment credit series covers most shortand intermediate-term credit extended to individuals through regular
business channels, usually to finance the purchase of consumer goods
and services or to refinance debts incurred for such purposes, and
scheduled to be repaid (or with the option of repaying) in two or more
instalments.
The series excludes certain types of arrangements by
which household expenditures are financed.

It generally excludes mortgage

financing, which is reported elsewhere, although some credit secured by
junior liens on real estate may be reported in the data for certain holders
such as finance companies.

Also excluded are (a) extensions of funds

against the cash value of life insurance policies or generally against
savings accounts; (b) noninstalment credit to individuals; and (c) loans
to farmers.

Some components of the series include unearned (precomputed)

finance charges.
Historical data as well as additional information about the
series are available from the Mortgage and Consumer Finance Section, Division
of Research and Statistics, Board of Governors of the Federal Reserve System,
Washington, D.C. 20551.
Other regular Federal Reserve publications containing consumer
credit stock and/or flow statistics are:

monthly—the Bulletin, and the

finance company release "422;" and quarterly—the Flow of Funds Accounts
release "780," and the Commercial Bank Report of Condition.
quarterly reports include data for noninstalment credit.

The two

In addition, the

Report of Condition provides separate commercial bank instalment loan detail
for credit card and check credit, home improvement credit, personal loans,




and other consumer instalment credit. Consumer credit data also appear
in the Federal Reserve's Annual Statistical Digest. Finally, a semiannual joint publication of the Federal Reserve, the Office of the
Comptroller of the Currency, and the Federal Deposit Insurance Corporation, entitled "Assets and Liabilities of Commercial and Mutual Savings
Banks," contains regional and State data for consumer credit held by
commercial banks and mutual savings banks. The publication can be
obtained upon written request to the Data Requests and Surveys Section,
Division of Management Systems and Financial Statistics, Federal
Deposit Insurance Corporation, 550 17th Street, N.W., Washington, D.C.
20006.