Full text of G.19 Consumer Credit : January 9, 1995

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FEDERAL RESERVE statistical release
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

**LRES*V

For release at 4 p.m. (Eastern Time)
January 9, 1995

G. 19

CONSUMER INSTALLMENT CREDIT
November 1994
Consumer installment credit outstanding rose $12.9 billion in November, following an $11.6 billion increase in
October. The November increase was the largest since a $15.1 billion gain in August. Revolving credit expanded $6.7
billion in November and automobile loans outstanding grew $4.8 billion. "Other" installment credit increased $1.4 billion.
MONTHLY CHANGE IN CREDIT OUTSTANDING1
Seasonally adjusted
Amount
(millions of dollars)
Type of credit
1994
Sept.
Oct. r
11,642
10,333
Total
2,875
5,441
Automobile
4,883
1,459
Revolving
3,434
3,884
Other2

Nov. P
12,884
4,771
6,721
1,391

Annual rate
(percent)
1994
Oct. r
15.9
10.9
18.2
19.3

Sept.
14.3
21.1
5.4
17.3

TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES3
Percent except as noted, not seasonally adjusted
I
1993
Institution, terms, and type of loan
Oct.
Nov.
1
Aug.
Sept.
Commercial banks
Interest rates
48-mo. new car loan
24-mo. personal loan
Credit card plan*
All accounts
Accounts assessed interest
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

Nov.P
17.3
18.0
24.6
6.8

1994
Oct.

Nov.

n.a.
n.a.

7.63
13.22

8.41
13.33

n.a.
n.a.

n.a.
n.a.

8.75
13.59

n.a.
n.a.

n.a.
n.a.

n.a.
n.a.

n.a.
n.a.

n.a.
n.a.

15.91
15.74

9.25
12.58

8.96
12.41

10.32
13.92

10.13
13.98

10.39
14.01

10.53
14.19

55.0
48.2

54.5
48.4

54.2
50.1

54.3
50.2

54.9
50.2

54.6
50.3

90
98

91
98

93
100

93
100

92
100

93
100

14,650
9,969

14,839
10,230

15,283
10,755

15,419
10,906

15,827
10,554

15,971
11,202

* Data on credit card rates now are being collected in a new survey that was conducted for the first time for November, 1994. The rates
for all accounts and for accounts assessed interest are described in footnote 3.
Other notes appear on reverse.




CONSUMER INSTALLMENT CREDIT OUTSTANDING
(Millions of dollars)
1993

Type of credit and holder

Nov,

1994
Dec.

Jan.

Feb.

Mar.

June

July

Aug.

Sept.

Oct.r

Nov. P

847715
303526
309472
234717

854469
305193
313591
235685

869628
309721
321365
238542

879961
315162
322823
241976

891603
318036
327707
245860

904487
322808
334428
247251

May

Apr.

Seasonally adjusted

Total
Automobile
Revolving
Other2

786101
280861
285110
220130

794300
282036
287875
224389

798844
283134
290165
225545

802720
284447
292604
225668

813750
288663
296710
228376

823342
293018
301260
229064

836936
298278
305528
233130

Not seasonally adjusted

Total
Major holders
Commercial banks
Finance companies
Credit unions
Savings institutions
Nonfinancial business4
Pools of securitized assets5
Major types of credit6
Automobile
Commercial banks
Finance companies
Pools of securitized assets5
Revolving
Commercial banks
Nonfinancial business4
Pools of securitized assets5
Other
Commercial banks
Finance companies
Nonfinancial business4
Pools of securitized assets5

787276

812782

806781

803323

810030

818956

830065

842126

847727

868049

880609

891442

906162

360286
113690
98501
37635
51909
125255

368549
116453
101634
37855
57637
130654

367883
117482
100192
37617
55228
128379

366712
118034
100259
37380
53453
127485

369710
120113
101583
37141
53410
128073

376379
122806
102718
37472
53756
125825

380063
122204
105718
37803
54505
129772

386235
124318
108183
38134
55374
129882

393927
123202
109838
38055
55775
126930

404438
125197
113122
37975
56496
130821

410312
130306
114699
37943
55967
131382

414833
131562
116325
38122
56020
134580

421634
133684
118050
38275
58591
135928

280985
122660
55476
39140
286551
143353
46641
75369
219740
94273
58214
5268
10746

282825
123358
56057
39490
303444
149527
52113
79887
226513
95664
60396
5524
11277

283174
124238
57474
37426
296045
145673
49757
79444
227562
97972
60008
5471
11509

283806
124449
58253
36599
292487
144274
48017
79597
227030
97989
59781
5436
11289

288132
126949
58999
36613
293570
145701
47937
79768
228328
97060
61114
5473
11692

291957
130104
60660
34531
297740
149265
48279
79927
229259
97010
62146
5477
11367

297172
132979
59398
35836
301609
149972
49005
82064
231284
97112
62806
5500
11872

302874
136038
59788
35817
305758
153032
49845
82075
233494
97165
64530
5529
11990

304026
138907
58107
34436
309716
156940
50218
81704
233985
98080
65095
5557
10790

310925
142452
58589
34584
319003
161417
50873
85644
238121
100569
66608
5623
10593

316778
144260
60522
35149
321205
164724
50314
85051
242626
101328
69784
5653
11182

320182
146456
60750
34394
325872
165561
50332
88762
245388
102816
70812
5688
11424

323104
148128
61372
33664
336158
171244
52819
90775
246900
102262
72312
5772
11489

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 (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.
4. Includes retailers and gasoline companies.
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.