Full text of G.19 Consumer Credit : January 7, 1988

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FEDERAL RESERVE statistical release

For immediate release
January 7, 1988

G.19

CONSUMER INSTALLMENT CREDIT
Consumer installment credit outstanding increased $2.22 billion in November,
following a $2.88 billion gain in October. The annual rate of growth in November was
4.4 percent, down a little from the 5.7 percent October pace. The slowing of overall
growth in November was mainly in the automobile and revolving credit categories.
"Other" lending advanced quite rapidly while mobile home loans were about unchanged from
October.

Net change in
amount outstanding
(millions of dollars)

Annual rate of growth
(percent)
1987

1987
FLOWS OF CREDIT
(seasonally adjusted)

Nov.1

Oct.

Sept.

Nov.*

Oct.

Sept.

Total
Automobile
Revolving
Mobile home
Other

2,220
197
457
12
1,554

2,881
1,240
1,438
-22
225

6,425
3,457
1,867
4
1,097

4.4
0.9
3.8
0.5
10.5

5.7
5.8
12.2
-1.0
1.5

12.9
16.3
16.0
0.2
7.5

1987
TERMS OF CREDIT
(not seasonally adjusted)
Interest rates 1/
Commercial banks 2/
48-mo. new-car loan
24-mo. personal loan
120-mo. mobile home loan
Credit card plan
Auto finance companies 3/
New-car loan
Used-car loan
Other terms at
auto finance companies 3/
Maturity (months)
New-car loan
Used-car loan
Loan-to-value ratio (percent)
New-car loan
Used-car loan
Amount financed (dollars)
New-car loan
Used-car loan




1986

Nov.

Oct.

Sept.

Aug.

Nov.

10.86
14.58
13.62
17.82

n.a.
n.a.
n.a.
n.a.

n.a.
n.a.
n.a.
n.a.

10.37
14.22
13.24
17.85

10.58
14.19
13.49
18.09

12.24
14.90

10.31
14.76

8.71
14.58

9.63
14.53

11.83
15.20

55.4
45.3

52.8
45.2

50.7
45.2

52.1
45.4

53.4
42.6

94
99

93
99

93
98

93
98

93
97

11,630
7,646

11,585
7,537

11,455
7,476

11,374
7,763

11,160
6,946

CONSUMER INSTALLMENT CREDIT, BY HOLDER AND TYPE 4/
Millions of dollars except as noted
Net change during month
Nov.*
1987
S.A.
Total

Oct.
1987
S.A.

Nov.'
1987
N. S .A.

Outstanding at end of month
Nov.*
1987
S.A.

Nov.'
1987
N.S.A.

Nov.
1986
N.S.A.

Change from end of
Nov. 1986
Amount

Percent

2,227

607,707

610,113

579,861

30,252

5.2

1,681

748

470
299
247
196
-12

-374

271,710
144,773
84,950
64,333
40,760
3,587

262,457
138,160
78,056
57,278
40,702
3,208

9,253
6,613
6,894
7,055

3.5
4.8
8.8
12.3

-176

272,240
142,767
84,343
64,198
40,559
3,600

58
379

11.8

1,240

n.a.
-124
-1,221
n.a.
n.a.

258,907
105,910
97,395
42,280
13,321

n.a.
106,101
99,080
n.a.
n.a.

n.a.
100,427
93,726
n.a.
n.a.

n.a.
5,674
5,354
n.a.
n.a.

n.a.

n.a.
1,014
n.a.

143,599
93,014
8,532
36,148
3,600
2,305

n.a.
92,558
n.a.
36,376
3,587
n-a.

n.a.
84,995
n.a.
36,369
3,208
n.a.

n.a.
7,563
n.a.

n.a.

n.a.

11.8
n.a.

25,689
8,406
8,578
8,705

n.a.
8,472
8,619
n.a.

n.a.
9,019
9,134
n.a.

n.a.
-547
-515
n.a.

n.a.
-6.1
-5.6
n.a.

179,513
64,910
36,794
39,757
33,640
4,411

n.a.
64,579
37,074
n.a.
n.a.
4,384

n.a.
68,016
35,300
n.a.
n.a.
4,333

n.a.
-3,437
1,774
n.a.
n.a.

n.a.
-5.1

51

1.2

2,220

2,881

1,404
-351

Major holder
Commercial banks
Finance companies 5/
Credit unions
Savings institutions
Retailers
Gasoline companies

704
673
-119

-90

441
725
863

0.1

Major credit type 6/
Automobile
Commercial banks
Finance companies
Credit unions
Savings institutions
Revolving 7/
Commercial banks
Saving8 institutions
Retailers
Gasoline companies
Credit unions

197
528
-824

353
140
457
554
89

720
319
150
51
1,438
1,233

-90
19

33
177
-12
8

Mobile home
Commercial banks
Finance companies
Savings institutions

12
-47
-32
91

-22
-86
30
33

Other
Commercial banks
Finance companies
Credit unions
Saving8 institutions
Retailers

1,554

225

n.a.

368
505
332
353
-4

-186

-92
883

-116

121
141
129
20

841
-176
n.a.
n.a.

-50
-36
n.a.

n.a.
n.a.

22

7
379

5.6
5.7
n.a.
n.a.

8.9
n.a.

0.0

5.0
n.a.
n.a.

1. Interest rates are annual percentage rates as specified by Regulation Z.
2. Commercial bank data are simple unweighted averages of each bank's "most commmon" rate
charged during the first calendar week of the month.
3. 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.
4. 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. Includes outstanding balances on some
securitized consumer loans originated by financial institutions.
5. More detail for finance companies is available in the G.20 Statistical Release, Finance
Companies.
6. 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.
7. Excludes 30-day charge credit held by travel and entertainment companies.
n.a.* Data not available.
S.A.« Seasonally adjusted.
r • revised.
p s preliminary.

9.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.




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