Full text of G.19 Consumer Credit : January 7, 1977

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0LS2&;.

FEDERAL

RESERVE

statistical

release

f*4LBB0£
FOR IMMEDIATE RELEASE
JANUARY 7, 1977

G.19

CONSUMER INSTALMENT CREDIT -

NOVEMBER 1976

CONSUMER INSTALMENT CREDIT OUTSTANDING INCREASED $1.24 BILLION IN NOVEMBER,
SEASONALLY ADJUSTED, DOWN FROM THE OCTOBER GAIN OF $1.56 BILLION, BUT CLOSE TO THE
$1.3 TO $1.5 BILLION RANGE THAT HAS PREVAILED SINCE MARCH, 1976. THE VOLUME OF NEW
CREDIT EXTENDED, AT $15.76 BILLIDNt DECLINED FROM THE OCTOBER LEVEL, WHILE LIQUIDATION
OF EXISTING DEBT ROSE SLIGHTLY, TO $14.52 BILLION, RESULTING IN THE SMALLER NET CHANGE
IN OUTSTANDINGS.
FOR THE THIRD STRAIGHT MONTH, GROWTH IN AUTO CREDIT SLACKENED A BIT, BUT MOST
OF NOVEMBER'S OVERALL SLOWDOWN WAS ATTRIBUTABLE TO A SMALLER GAIN IN THE "ALL OTHER"
CATEGORY, WHICH HAD EXPANDED SHARPLY IN OCTOBER. THE GROWTH IN BANK-CARD CREDIT ALSO
EASED, BUT HOME IMPROVEMENT LENDING EXPANDED MORE STRONGLY, AND MOBILE HOME CREDIT
CONTRACTED LESS, THAN IN THE PREVIOUS MONTH.
SEASONALLY ADJUSTED EXTENSIONS AND LIQUIDATIONS OF AUTO CREDIT ROSE MODERATELY
IN NOVEMBER. MOBILE HOME EXTENSIONS PICKED UP AGAIN WHILE GRANTING OF HOME IMPROVEMENT
LOANS HELD STEADY. EXTENSIONS IN THE "ALL OTHER" CATEGORY FELL SHARPLY FROM THE HIGH
OCTOBER LEVEL, AND BANK-CARD LENDING DECLINED MODERATELY.
(IN MILLIONS OF DOLLARS)
INSTALMENT CREDIT, TOTAL

NOV. 1976 I OCT. 1976 I NOV. 1976 i NOV. 1975 I LATEST 12 MONTHS
(SEASONALLY ADJ.)
f
(NOT SEAS.ADJ.)
KNOT SEAS.ADJ.)

AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK CREDIT CARD
OTHER REVOLVING <1)
ALL OTHER

15,7631

16,0551

I

AMOUNT EXTENDED:

I

4,632!
261|
464|
2,1811
4101
7,8151

4,5871
236!
463!
2,198|
413|
8,1581

AMOUNT LIQUIDATED
NET CHANGE IN AMOUNT
OUTSTANDING:

13,6091

I
I

t
I

15,952!
!
4,424)
248!
4181
2t227|
4051
8,229)

184,857

I
I

I
3,9001
3141
3421
1,7361
309)
7,0081

14,5201

14,4911

14,5501

12,5791

I
I

I
I

I
I

55,337
3,146
5,005
24,974
4,800
91,595

I

lt243l

1,564|

I

I

4771
-59|
1031
711
6!
6451

5281
-71!
73!
123!
271
8841

1,403!
!
284)
-541
64|
971
21
1,0091

I
I
I

I
I

I
I

!

175,3331

AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK CREOIT CARD
OTHER REVOLVING <1)
ALL OTHER
AMOUNT OUTSTANDING,
END OF MONTH

(2)

(2)

!
1,030!
!
349|
28!
211
81!
21
549|

168,739
16,118 C3)
14)
(4)
(4)
(4)
(4)
(4)

I
!
159,2161

(2)

NOTE: CONSUMER INSTALMENT CREDIT CONSISTS OF SHORT- AND INTERMEDIATE-TERM CREDIT
EXTENDED THROUGH REGULAR BUSINESS CHANNELS TO FINANCE THE PURCHASE OF GOODS
AND SERVICES FOR PERSONAL CONSUMPTION, OR TO REFINANCE DEBTS INCURRED FOR
SUCH PURPOSES, AND SCHEDULED TO BE REPAID IN TWO OR MORE INSTALMENTS.
MORTGAGE CREDIT IS EXCLUDED.
<1>
BANK CHECK CREDIT AND OTHER BANK REVOLVING CREDIT.
(2)
NOT APPLICABLE.
(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 1975 AMOUNT N.S.A."




CONSUMER INSTALMENT CREDIT BY HOLDER AND TYPE

NOV.

1976

(IN MILLIONS OF DOLLARS)

E X T E N D E D

L I

9

Q U I D A T E D

INSTALMENT CREDIT, BY
NOV.
|1
1976 J !
N.S.A. | !

OCT.
1976
S.A.

NOV.
1975
S.A.

14,491

13,255

OCT.
1976
S.A.

15,763

16,055

14,579

7,486
3,059
2,395
2,467
356

7,618
3,148
2,350
2,673
266

7,140
2,873
1,995
2,302
269

7,190|
3,211!
2,314(
2,916!
321)

!
1
!
(
1

7,105!
2,814(
2,000!
2,369!
232!

6,947
2,831
2,070 I
2,410 1
233

6,524
2,586
1,725
2,218
203

7,0651
2,891!
1,972!
2,3951
2271

I
9
9
1
9

3811 1
245! 9
3951 9
981 J
1241 1

84,278
39,129
30,053 1
17,726
4,147

6,414
2,746 1
5,119 1
1,275
563

8.2
7.5
20.5
7.8
15.7

4,632

4,587

4,441

4,424! !

4,155!

4,059

3,835

4,1401 9

477| 1

60,002

7,245

13.7

2,691
1,426
1,265
927
957
57

2,770
1,479
1,291
904
875
37

2,663
1,418
1,244
851
885
42

2,557!
1,328!
1,229!
869!
944!
54!

!
!
!
I
!
!

2,470|
1,356!
1,114)
8291
813)
43)

2,420
1,363 i
1,058
8271
770
42

2,360
1,323
1,037
643
794
38

2,472!
1,3641
1,1081
813!
813)
421

!
9
9
!
1
I

2211 1
70 9 1
1511 9
98! !
144! 1
149 1

35,095
19,575 1
15,520
12,957
11,442 1
508

3,632
1,140
2,492
1,576
1,951
86

11.5
6.2
19.1
13.8
20.6
20.4

207
54

178
59

264

255
67

237! 1
!
65!

-43) j
-161 J

8,254
3,295

-509
-179

-5.8
-5.2

463

334

3541 i

103! )

8,790

767

9.6

276

282

251

197! !
)
51!
)
418!
)
247$

250)
701

464

210

2181 1

55! )

5,388

411

8.3

2,181
410

2,198
413

1,841
341

2,227! !
405) !

2,110)
404)

2,074
386

1,762
336

2,130| 1
402) 1

71! 1
6| )

10,329
2,935

1,449
198

16.3
7.2

7,815

TOTAL

NOV.
1975
S.A.

NET | 1 0 U T S T A N D I N G
CHG I
N O V . ! ) END OF CHANGE FROM END
NOV.
OF NOV. 1975
1976! )
AMOUNT)
PER
1976
S.A.I 1
N.S.A.|
CENT
(1) 1 9 N.S.A.

NOV.
1976
S.A.

HOLDER AND TYPE

I

1I
1
!!
1!
)I
!

8,158

7,203

8,229) )

7,170!

7,274

6,667

7,220) !

645! 1

81,728

7,147

9.6

1,721
1,238 1
2,072 1
1,696
1,389 1
2,467!
166 1

1,777 !
1,286
2,182 1
1,776 1
1,426 1
2,673 I
100 1

1,780 1
1,226 1
1,937 1
1,581
1,074 1
2,302 !
111 1

1,556| !
1,156! !
2,287! !
1,913! 1
1,324! !
2,916! )
146 1 )

1,6491
1,191)
1,909)
1,535)
1,150!
2,369»
93!

1,594
1,125
1,924
1,539 1
1,260
2,410
86 1

1,600
1,105
1,872
1,490 !
901
2,218
75

1,604) )
1,173! 9
2,0081 1
1,649|)
1,123! »
2,395! 1
90) 1

72! 1
47) !
163! 9
1619 J
239) 9
98| )
73) 9

22,277
15,517
22,748 1
18,773
17,706
17,726
1,271

1,234
1,058
1,372 1
1,351 1
3,014
1,275
252

15,9521 1

NOV.
1976
S.A.

!
!
j

14,520!

I

NOV.
1976
N.S.A.

14,550) 1

12431 I

175,333

16,117

10.1

BY HOLDER
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETATLERS
(2)
OTHERS
13)
BY CREDIT TYPE
%

AUTOMOBILEt TOTAL
COMMERCIAL BANKS
INDIRECT PAPER
DIRECT LOANS
FINANCE COMPANIES
CREDIT UNIONS
OTHERS
(3)
MOBILE HOME
COMMERCIAL BANKS
FINANCE COMPANIES
HOME IMPROVEMENT, TOTAL
COMMERCIAL BANKS

81
408

360|
221!

233
74
390
239

REVOLVING
BANK CREDIT CARD
BANK CHECK CREDIT
ALL OTHER, TOTAL
COMM. BANKS, TOTAL
PERSONAL LOANS
FINANCE C O S . , TOTAL
PERSONAL LOANS
CREDIT UNIONS
RETAILERS
OTHERS

(1)
(2)

(3)




1
i
1
1
1

NET CHANGES FOR ALL MONTHS EQUAL EXTENSIONS MINUS LIQUIDATIONS (REPAYMENTS, CHARGEOFFS, AND OTHER C R E D I T S ) .
EXCLUDES 30-OAY CHARGE CREDIT HELD BY RETAILERS, OIL AND GAS COMPANIES, AND TRAVEL AND BITERTAINMENT COMPANIES
AMOUNTING TO $ 2 2 1 4 MILLION AT THE END OF NOVEMBER. THIS REPRESENTS AN INCREASE OF $ 5 0 MILLION FROM THE END OF
OCTOBER ON A SEASONALLY ADJUSTED BASIS ANO A DECREASE OF $5 MILLION ON AN UNADJUSTED B A S I S .
MUTUAL SAVINGS BANKS, SAVINGS ANO LOAN ASSOCIATIONS, AND AUTO DEALERS.
NOTE:

S.A.

AND N . S . A .

DENOTE SEASONALLY ADJUSTED AND NOT SEASONALLY ADJUSTED DATA, RESPECTIVELY.

5.9
7.3
6.4
7.8
20.5
7.8
24.7