Full text of G.19 Consumer Credit : January 9, 1978

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FEDERAL

RESERVE

statistical

release

G.19

FOR IMMEDIATE RELEASE
JANUARY 9* 1978
CONSUMER INSTALMENT CREDIT - NOVEMBER 1977

CONSUMER INSTALMENT CREDIT OUTSTANDING EXPANDED IN NOVEMBER BY $2.85 BILLION*
SEASONALLY ADJUSTED* UP FROM A $2.63 BILLION GAIN IN OCTOBER* DESPITE A DECLINE IN
CREDIT NEWLY EXTENDED. NOVEMBER'S LARGER NET ADVANCE WAS DUE PRIMARILY TO A DROP IN
LIQUIDATIONS OF EXISTING DEBT. THE INCREASE IN OUTSTANDINGS REMAINED WITHIN THE
$2.35 TO $2.90 BILLION RANGE THAT HAS PREVAILED SINCE THE RECORD $2.97 BILLION RISE
IN MARCH 1977* FOLLOWED BY A $2.90 BILLION INCREASE IN APRIL 1977.
CREDIT EXTENSIONS* AT $19.68 BILLION* WERE DOWN BY $107 MILLION AFTER SEASONAL
ADJUSTMENT. AUTO CREDIT EXTENDED ROSE FAIRLY SHARPLY* BUT THE INCREASE WAS MORE THAN
OFFSET BY LOWER EXTENSIONS OF BANK REVOLVING AND "ALL OTHER" CREDIT. LIQUIDATIONS FELL
TO $16.83 BILLION* A $334 MILLION OROP* WITH ALL LOAN CATEGORIES EXCEPT HOME IMPROVEMENT SHARING IN THE DECLINE.

(IN MILLIONS OF DOLLARS)
INSTALMENT CREDIT* TOTAL

I NOV. 1977 | O C T . 1977 | NOV. 1977 | NOV. 1976 I LATEST 12 MONTHS
I
(SEASONALLY ADJ.)
K N O T SEAS.ADJ.)
|
(NOT SEAS.ADJ.)

AMOUNT EXTENDED:

1

6*3301
464|
7611
2*6281
4921
8*8041

19*7871
1
I
6*0831
4571
7181
2,973|
487|
9*0671

I
1

I
1

1
1

I

16*8261

17*1601

1
1

1
1

1
I

1

2,8531
»
1*2411
741
2111
243|
271
lt057|
•
1

2*6261
1
8501
44|
2011
287|
571
l Y 188t

19*6801
i

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

AMOUNT LIQUIDATED
NET CHANGE IN AMOUNT
OUTSTANDING:
AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK CREDIT CARD
OTHER REVOLVING (1)
ALL OTHER
AMOUNT OUTSTANDING*
END OF MONTH

!
1
i
!

1

t2>

I

|

(2)

19,7211

1
5,9241
4421
7011
2*878|
4981
9,2781

1
1
16,7881

1
1
2*9331

1
9111
701
1751
266|
501
1*4601

16*8131

1
5*004|
387|
5671
2*3051
4311
8,1191

15,062!
t
1

1
1

1,7511

4271
3|
1281
1381
301
1,0251

i

i

1

1

1

1

181,23711

212*0741

72*414
5*247
8*021
31*000
5*802
101*317

1
1

i

1
I

223*801

192*960

30*841
(4)
(4)
(4)
(4)
(4)
(4)

12Y

NOTE: CONSUMER INSTALMENT CREOIT 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 OEBTS INCURRED FOR
SUCH PURPOSES, AND SCHEDULED TO BE REPAID IN TWO OR MORE INSTALMENTS.
MORTGAGE CREDIT GENERALLY IS EXCLUDED. DETAILS MAY NOT ADO TO TOTALS DUE TO
ROUNDING.
(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 1976 AMOUNT N.S.A."




(3)

CONSUMER INSTALMENT CREDIT BY HOLDER AND TYPE -

NOV. 1977

(IN MILLIONS OF DOLLARS)

E X T E N D E D

L I Q U I D A T E D

NET
CHG
NOV.
1977
S.A.
(1)

END OF
NOV.
1977
N.S.A.

16.788

2853

212,074

30,837

17.0

6.218
3.142
2,322
2*669
417

1384
543
566
164
177

103,469
43,322
36,486
19.629
9.166

15,357
5,232
6,435
2.294
1.519

17.4
13.7
21.4
13.2
19.9

5.013

1241

78*757

13,288

20.3

2.955
1.600
1,354
827
1.185
46

725
444
281
242
263
10

45,845
25*228
20*616
14*205
18»ll3
594

8.198
4.188
4,010
1,785
3,195
110

21.8
19.9
24.1
14.4
21.4
22.7

372

74

14*999

438

3.0

244
46!

23

8*856
3,123

130
-172

1.5
-5.2

12,879

1,987

18.2

6,447

903

16.3

INSTALMENT CREDIT, BY
HOLDER AND TYPE

NOV.
1977
S.A.

OCT.
1977
S.A.

|
|
t

NOV.
1976
S.A.

I
NOV.
I
1977
I N.S.A.

|
|
|

I

1

!
19,680

TOTAL

9,688
3,602
2,920
2,857
612

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

6,330

ALL OTHER, TOTAL
COMM. BANKS. TOTAL
PERSONAL LOANS
FINANCE COS., TOTAL
PERSONAL LOANS
CREDIT UNIONS
RETAILERS
OTHERS

512|

6,0831

I

6,122!
3,0761
2»*95)
2,534!
485!

!
»
5,3121

!

3,717
2,076
1,641
1,097
1,458
58

3,6421
1.9761
1,6661
989|

464

I

I

457|

4031

I

I

2701
611

2521

280
54
761
370

REVOLVING
BANK CREDIT CARD
BANK CHECK CREDIT

9,8021
3,6531
2.858)
2,9611

I
I

BY CREDIT TYPE




i
I
»
!

1
1
I

COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS (2)
OTHERS (3)

<3)

16.712!

I

BY HOLDER

(1)
(2)

19,7871

2,828
492
6,804
2,001
1,434
2,441
1.914
1.285
2,857
221

It4l4»
381

3.0811
1.652!
It429!
913!
1.2621
56|

54!

I

I

718|

6221

I

!

373|

3001

I
I
!

2,9731
4871

I
»
i

2.260)
430!

I

I

9.0671

7.686!

I

!
1.800!
It248!
2,104!
It7l3|
1.091!
2,534!
157!

19.721!

I
I
!
I

9,183!
3,7601
2,817!
3,357!
605)

!
!
5,924»

!
3,400!
It857|
1.544!
1,034|
1.430!
60!

!
442!

!
261!
53!

!

701!
!
3341

I
!
!
2,878!
498)

»
9,278!

!
1,812!
1,335!
2.665!
2.157!
1,224!
3,357!
220!

OCT.
1977
S.A.

NOV.
1977
S.A.

NOV.
1976
S.A.

| NOV.
) 1977
| N.S.A.

»

)

16,826|

17,160|

15.0771

«
i
!
!

I
!
I
!

8,305|
3,0591
2,354!
2,673!
435|

8,487|
3,1661
2,389)
2,6811
437)

!
!

I
I
I

!
I
I
!
7,351!
2.8581
2,087|
2,406|
3731

I
I
I

5,089|

5,234)

!

4,630!

I

)

3,0551
1,681)
1.374)
9371
1.193)
49)

2.655)
1.472)
1.1831
864|
1.0731
37|

2,991!
1,632!
1,360)
8551
1,195!
48!

!
390|

!
257!
50|

!
550|
!
272!

!
I
I
2,585!
466(
!
7,7471

I

I

I

413|

406|

I

I

255|
72)
!
5171

2621
701
459!

I

I

257|

2311

I
!
»
2,687|
430!

I
7,6601

I

I
I
!
2,1481
403|
!
7.0311

O U T S T A N D I N G

4
526
211
264
99
2.612
447

243
27

13,096
3.601

2,533
658

24.0
22.4

7,817

1057

86,743

11,933

15.5

1,696
1,232
2.263
1,603
1,016
2,689
154

267
183
293
235
252
164
61

25,626
17,555
25,850
20,852
15,269
19,629
2,350

2,936
1,989
3,604
2,575
2.696
2,294
403

12.9
12.8
16.2
14.1
21.4
13.2
20.7

!
1,734!
!
1,651!
1.2501
1.602)
1*180!
2.1481
1.321)
1.918!
1.6781
2,148)
1.2821
1.5571
I,033|
1.692)
2.9611
910)
2,673|
1.078)
172!
2,408)
159|
2,6811
143)
NET CHANGES FOR ALL MONTHS EQUAL EXTENSIONS MINUS LIQUIDATIONS (REPAYMENTS,
AND OTHER CREDITS),
1701 CHARGEOFFS,
EXCLUDES 30-DAY CHARGE CREDIT HELD BY RETAILERS. OIL AND GAS COMPANIES, AND TRAVEL AND ENTERTAINMENT COMPANIES
AMOUNTING TO $2385 MILLION AT THE END OF NOVEMBER. THIS REPRESENTS AN INCREASE OF $8 MILLION FROM THE END OF
OCTOBER ON A SEASONALLY ADJUSTED BASIS AND A DECREASE OF $40 MILLION ON AN UNADJUSTED BASIS.
MUTUAL SAVINGS BANKS, SAVINGS AND LOAN ASSOCIATIONS, AND AUTO DEALERS.

NOTE:

2.0561
lt463|
2,596!
2.044|

CHANGE FROM END
OF NOV. 1976
AMOUNT
PER
N.S.A.
CENT

S.A. AND N.S.A. DENOTE SEASONALLY ADJUSTED AND NOT SEASONALLY ADJUSTED DATA, RESPECTIVELY.
DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING*