Full text of G.19 Consumer Credit : January 7, 1994
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o^ovc,;. FEDERAL RESERVE statistical release *f<^^^^^v. Tliis release is issued around the fifth business dav of each month. The exact date and time mav be obtained by calling ( 2 0 2 ) 452—3206 For immediate release January 7, 1994 G. 19 CONSUMER INSTALLMENT CREDIT November 1993 Consumer installment credit increased $6.9 billion in November, following a $7.7 billion rise in October. Although still sizable, the November gains in auto and revolving credit slowed from their rapid October pace while "other" loans expanded more rapidly. MONTHLY CHANGE IN CREDIT OUTSTANDING1 Seasonally adjusted Type of credit Total Automobile Revolving Other2 Sept.r 6,070 1,866 2,950 1,254 Amount (millions of dollars) 1993 Oct. r 7,660 3,950 3,422 289 Annual rate (percent) 1993 Oct. r 12.0 17.5 15.0 1.5 Sept. r 9.6 8.3 13.1 6.7 Nov.P 6,881 2,976 2,148 1,757 Nov.P 10.6 13.0 9.3 9.4 TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES3 Percent except as noted, not seasonally adjusted 1992 1993 Institution, terms, and type of loan Oct Nov. May Aug. Oct. Nov. Commercial banks Interest rates 48-mo. new car loan 24-mo. personal loan 120-mo. mobile home loan Credit card plan n.a. n.a. n.a._ n.a. 8.60 13.55 12.36 17.38 8.17 13.63 12.00 17.15 7.98 13.45 11.53 16.59 n.a. n.a. n.a. n.a. 7.63 13.22 11.55 16.30 9.51 13.37 9.65 13.37 9.51 12.61 9.21 12.48 9.25 12.58 8.96 12.41 54.1 47.9 54.1 47.8 54.4 48.9 54.9 49.0 55.0 48.2 54.5 48.4 89 97 89 97 91 98 91 99 90 98 91 98 13,885 9,373 14,043 9,475 14,146 9,829 14,324 10,104 14,650 9,969 14,839 10,230 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 Notes appear on reverse. CONSUMER INSTALLMENT CREDIT OUTSTANDING (Millions of dollars) 1992 Type of credit and holder Nov. 1993 Dec. Jan. Feb. Mar. June July Aug. Sept.r Oct.r Nov. P 752428 265388 263338 22370* 757465 267468 266938 223058 762503 268784 270753 222967 768573 270650 273703 224220 776234 274600 277125 224509 783115 277576 279273 226266 May Apr. Seasonally adjusted Total Automobile Revolving Other2 736023 258860 252086 225077 741093 259627 254299 227167 743583 258737 255984 228862 747228 261434 258384 227410 750131 262313 259661 228157 752193 262463 261450 228280 750293 264007 262690 223596 Not seasonally adjusted Total Major holders Commercial banks Finance companies Credit unions Savings institutions Retailers Gasoline companies Pools of securitized assets4 Major types of credit5 Automobile Commercial banks Finance companies Pools of securitized assets4 Revolving Commercial banks Retailers Gasoline companies Pools of securitized assets4 Other Commercial banks Finance companies Retailers Pools of securitized assets4 737651 756944 748529 745374 743133 746447 744778 748830 753645 763268 770384 776719 784702 325149 116558 96092 42746 36678 4365 116063 331869 117127 97641 43461 42079 4365 120402 330355 116009 98262 42804 40057 4366 116676 330060 112686 98785 41975 38462 4148 119258 329764 111854 99778 41695 38030 4080 117932 332266 112523 101534 40275 38218 4280 117351 333415 109311 103019 39210 38681 4486 116656 335592 111330 104781 37250 38813 4567 116497 339948 113076 106027 36485 39043 4668 114398 345449 111864 108095 35919 39688 4728 117525 349699 112645 109687 34985 39842 4574 118952 352559 113220 110830 34251 40310 4599 120950 358429 115352 112342 1 33500 42047 4507 118525 259148 109459 58386 32979 252877 127481 31444 4365 70889 225626 259964 109743 57605 33878 267949 132582 36629 4365 74243 229031 89544 258017 109671 57165 32388 260758 129567 34666 4366 71927 229754 91117 58844 259830 111005 54036 36031 257440 127877 33110 4148 72024 228105 91178 58651 5352 11202 259945 111287 53508 36085 256233 128079 32681 4080 70890 226955 90398 58346 260857 111121 53977 36262 257783 129550 32838 4280 69919 227807 91595 58546 5380 11170 262860 112700 53878 36431 259566 130871 33254 4486 69054 222352 89844 55433 5427 11171 265345 114901 55592 34701 260993 129921 33328 4567 70842 222491 90770 55737 5485 10954 267646 116729 56817 33673 264100 132984 33505 4668 69935 221899 90235 270495 118535 55247 35569 269663 135466 34099 4728 71562 223109 91448 56616 5589 10394 273291 120574 55057 36123 272579 136738 34214 4574 72646 224514 92387 57588 5628 10183 276665 122162 55107 37630 275109 137844 34668 277783 122989 56058 36571 280080 142382 36319 4507 72357 226839 93058 59294 5728 9597 88209 58172 5234 12195 59522 5450 12281 5391 12361 5349 10957 56259 5538 10790 4599 73556 224945 92553 58113 5642 9764 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 as specified by the Federal Reserve's Regulation Z. Interest rates 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. 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. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators. 5. Includes estimates for holders that do not separately report consumer credit holding by type, r = revised, p = preliminary.
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