Full text of G.19 Consumer Credit : January 8, 1999

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Release Date: January 8, 1999
Release dates | Historical data
Current release Other formats: Screen reader | ASCII

G.19
1

CONSUMER CREDIT
November 1998

For release at 3 p.m. (Eastern Time)
January 8, 1999

Consumer credit grew at a 3-1/2 percent annual rate in November, down from an 11 percent rate in October.
while revolving and "other" credit showed only small changes.

Auto credit rose briskly,

CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
--------------------------------------------------------------------------------------------------------------------------------------1997
1998
_______________ _______________________________________________________________________________________
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July r Aug. r Sept. r Oct. r Nov. p
--------------------------------------------------------------------------------------------------------------------------------------Percent change at annual rate 2
Total
-3.0
5.9
2.3
4.9
6.7
4.3
2.3
9.0
5.9
7.2
7.5
11.0
3.6
Automobile
-3.8
17.9
5.5
4.2
8.8
4.1
4.0
8.2
7.4
11.5
7.6
5.5
12.0
Revolving
2.6
2.0
4.3
5.1
9.1
5.4
-1.4
9.2
-3.8
11.3
8.1
10.1
-1.5
Other 3
-12.3
-3.9
-6.1
5.5
-0.9
2.4
7.0
9.7
21.6
-6.8
6.1
20.9
0.8
Amount: billions of dollars
Total
1,227.1 1,233.1 1,235.5 1,240.5 1,247.4 1,251.9 1,254.3 1,263.7 1,269.8 1,277.4 1,285.3 1,297.2 1,301.1
Automobile
407.3
413.4
415.3
416.7
419.8
421.2
422.6
425.5
428.1
432.2
435.0
437.0
441.3
Revolving
530.3
531.1
533.0
535.3
539.4
541.8
541.2
545.3
543.6
548.7
552.5
557.1
556.4
Other 3
289.5
288.6
287.1
288.4
288.2
288.8
290.5
292.8
298.1
296.4
297.9
303.1
303.3
--------------------------------------------------------------------------------------------------------------------------------------TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES 4
Percent except as noted: not seasonally adjusted
--------------------------------------------------------------------------------------------------------------------------------------Institution, terms, and type of loan
--------------------------------------------------------------------------------------------------------------------------------------Commercial banks
Interest rates
48-mo. new car
8.96
n.a.
n.a.
8.87
n.a.
n.a.
8.69
n.a.
n.a.
8.71
n.a.
n.a.
8.62
24-mo. personal
14.50
n.a.
n.a.
14.01
n.a.
n.a.
13.76
n.a.
n.a.
13.45
n.a.
n.a.
13.75
Credit card plan
All accounts
15.65
n.a.
n.a.
15.65
n.a.
n.a.
15.67
n.a.
n.a.
15.83
n.a.
n.a.
15.69
Accounts assessed interest
15.62
n.a.
n.a.
15.33
n.a.
n.a.
15.62
n.a.
n.a.
15.85
n.a.
n.a.
15.72
New car loans at auto finance companies
Interest rates
6.85
5.93
6.12
6.98
6.47
6.20
6.07
6.02
6.23
6.00
5.92
6.33
6.79
Maturity (months)
53.7
53.5
52.8
52.6
51.5
50.7
50.8
50.9
51.7
53.0
53.1
53.1
52.8
Loan-to-value ratio
91
92
92
92
92
91
93
91
92
93
93
92
91
Amount financed (dollars)
18,923 19,121 18,944 18,825 18,932 18,922 18,793 18,878 19,084 19,068 19,028 19,199 19,590
--------------------------------------------------------------------------------------------------------------------------------------This release is issued around the fifth business day of each month. The exact date and time may be obtained by calling (202) 452 - 3206.
Footnotes appear on reverse.

1
CONSUMER CREDIT OUTSTANDING
(Billions of dollars)
Not seasonally adjusted
--------------------------------------------------------------------------------------------------------------------------------------1997
1998
_______________ _______________________________________________________________________________________
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July r Aug. r Sept. r Oct. r Nov. p
--------------------------------------------------------------------------------------------------------------------------------------Total
Major holders
Commercial banks
Finance companies
Credit unions
Savings institutions

1,234.5 1,264.1 1,244.0 1,234.2 1,236.1 1,241.2 1,243.2 1,256.9 1,263.0 1,277.6 1,288.4 1,299.8 1,308.9
506.5
156.4
150.6
47.6

512.6
160.0
152.4
47.2

499.3
159.5
151.5
47.1

492.5
155.7
150.8
47.1

492.2
156.5
150.7
47.1

500.2
154.3
151.1
47.5

497.4
153.6
152.2
47.9

491.5
154.3
152.4
48.3

491.5
156.4
153.7
49.0

498.2
160.2
154.1
49.6

497.9
160.1
155.2
50.3

502.0
166.9
156.0
51.0

500.4
168.3
156.5
51.6

Nonfinancial business
Pools of securitized assets 5

70.5
302.9

78.9
313.1

75.4
311.1

72.8
315.3

72.7
316.8

65.1
323.1

65.2
326.9

65.3
345.1

65.5
346.9

66.0
349.4

65.6
359.4

65.9
358.0

66.6
365.6

Major types of credit 6
Automobile
Commercial banks
Finance companies
Pools of securitized assets 5

411.1
156.2
86.0
60.4

417.0
155.3
87.0
65.0

413.5
154.4
87.4
63.1

412.1
152.7
84.7
66.0

415.5
153.9
86.8
65.1

416.0
151.3
90.6
63.7

418.2
151.7
89.6
66.0

425.2
150.9
89.9
71.6

429.7
153.2
91.7
72.5

434.9
155.5
95.3
70.8

439.0
156.3
96.2
72.1

442.3
156.8
97.6
71.8

445.5
157.1
99.0
72.6

Revolving
Commercial banks
Finance companies
Nonfinancial business
Pools of securitized assets 5

532.9
212.7
34.8
38.9
216.4

555.9
219.8
38.6
45.0
221.5

541.5
208.8
37.6
42.7
221.8

535.3
204.6
36.9
41.0
223.4

534.1
201.3
36.6
41.2
226.2

535.6
209.2
30.4
33.5
233.7

535.6
207.3
30.5
33.4
235.3

539.6
200.9
29.9
33.5
245.6

537.3
197.6
29.6
33.8
246.6

545.6
200.4
30.2
34.0
251.2

549.8
197.6
29.3
33.7
259.3

555.5
199.2
34.6
33.8
258.1

559.1
195.4
34.7
33.8
265.3

Other
290.5
291.3
288.9
286.8
286.5
289.7
289.4
292.1
295.9
297.1
299.6
302.1
304.4
Commercial banks
137.5
137.5
136.2
135.2
137.0
139.8
138.4
139.7
140.7
142.3
144.0
146.0
147.9
Finance companies
35.5
34.4
34.5
34.1
33.0
33.4
33.5
34.4
35.0
34.7
34.6
34.6
34.6
Nonfinancial business
31.6
34.0
32.7
31.8
31.5
31.6
31.8
31.7
31.7
32.0
31.8
32.2
32.8
Pools of securitized assets 5
26.1
26.6
26.3
26.0
25.6
25.6
25.5
27.9
27.8
27.5
27.9
28.1
27.7
--------------------------------------------------------------------------------------------------------------------------------------1. Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate.
2. Percent changes calculated from unrounded data.
3. Comprises mobile home loans and all other loans not included in automobile or revolving credit, such as loans for education, boats,
trailers, or vacations. These loans may be secured or unsecured.
4. Interest rates are annual percentage rates (APR) as specified by the Federal Reserve's Regulation Z. Interest rates for new-car loans
and personal loans 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. For credit card accounts, the rate for all accounts is the stated APR averaged across all
credit card accounts at all reporting banks. The rate for accounts assessed interest is the annualized ratio of total finance charges at
all reporting banks to the total average daily balances against which the finance charges were assessed (excludes accounts for which no
finance charges were assessed). 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.
5. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of
the loan originators.
6. Includes estimates for holders that do not separately report consumer credit holding by type.
r=revised. p=preliminary.

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Last update: January 8, 1999