Full text of G.19 Consumer Credit : January 9, 2012

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G.19

CONSUMER CREDIT

For release at 3 p.m. (Eastern Time)

November 2011

January 9, 2012

Consumer credit increased at an annual rate of 10 percent in November. Revolving credit increased at an annual rate of 8-1/2 percent, and nonrevolving credit increased at an annual rate of 10-3/4 percent.

CONSUMER CREDIT OUTSTANDING1
Seasonally adjusted
2010

Total percent change (annual rate)2
Revolving
Nonrevolving3
Total amount (billions of dollars)
Revolving
Nonrevolving3

2006

2007

2008

2009

2010

4.1
5.0
3.6

5.8
8.1
4.4

1.6
1.7
1.5

-4.4
-9.6
-1.2

-1.7
-7.5
1.5

2,384.9
871.0
1,513.9

2,522.5
941.9
1,580.7

2,561.8
957.5
1,604.3

2,450.1
865.5
1,584.6

Q3

2011
Q2

r

Q3

r

Sep

r

Oct

r

Nov

p

Q4

Q1

-2.1
-10.1
2.1

2.5
-2.6
5.0

2.2
-3.7
5.1

3.5
1.5
4.5

1.4
-2.0
3.0

3.7
0.7
5.1

2.9
1.0
3.9

9.9
8.5
10.7

2,408.3
800.2
1,608.1

2,393.6
805.4
1,588.2

2,408.3
800.2
1,608.1

2,421.5
792.8
1,628.6

2,442.9
795.9
1,647.0

2,451.3
792.0
1,659.3

2,451.3
792.0
1,659.3

2,457.3
792.7
1,664.6

2,477.7
798.3
1,679.4

TERMS OF CREDIT4
Not seasonally adjusted. Percent except as noted.
Commercial banks
Interest rates
48-mo. new car
24-mo. personal
Credit card plans
All accounts
Accounts assessed interest
Finance companies5
Interest rates
Maturity (months)
Loan-to-value ratio
Amount financed (dollars)

7.72
12.41

7.77
12.38

7.02
11.37

6.72
11.10

6.21
10.87

6.24
10.71

5.87
10.94

5.86
11.01

5.79
11.36

5.90
10.80

n.a.
n.a.

n.a.
n.a.

5.45
10.52

13.21
14.73

13.30
14.68

12.08
13.57

13.40
14.31

13.78
14.26

13.59
14.22

13.44
13.67

13.43
13.44

12.89
13.06

12.28
13.08

n.a.
n.a.

n.a.
n.a.

12.36
12.78

4.99
63.0
94
26,620

4.87
62.0
95
28,287

5.52
63.4
91
26,178

3.82
62.0
90
28,272

4.26
63.0
86
27,959

4.08
63.8
87
28,081

4.57
62.5
82
27,423

4.73
62.3
80
26,673

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

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

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

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

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

This release is generally issued on the fifth business day of each month. See the Statistical Release Schedule for more information.
Footnotes appear on reverse.

CONSUMER CREDIT OUTSTANDING
(Billions of dollars)
Not seasonally adjusted
2010
2006
Total

2007

2008

2009

2010

Q3

Q4

Q1

Q2

r

2011
r
r
Q3
Sep

Oct

r

Nov

p

2,416.0 2,555.3 2,594.1 2,478.9 2,434.7 2,407.8 2,434.7 2,401.9 2,423.9 2,466.0 2,466.0 2,468.6 2,490.3

Major holders
Commercial banks
Finance companies
Credit unions
Federal government6
Savings institutions
Nonfinancial business
Pools of securitized assets7,8

741.2
534.4
234.5
91.7
95.5
57.6
661.1

804.1
584.1
235.7
98.4
90.8
58.6
683.7

878.6
575.8
236.2
111.0
86.3
59.8
646.4

855.3 1,098.7 1,115.2 1,098.7 1,058.9 1,072.3 1,073.8 1,073.8 1,072.7 1,082.4
487.8 518.6 516.3 518.6 509.8 501.8 504.3 504.3 500.5 502.5
237.2 226.5 224.9 226.5 218.1 220.9 223.9 223.9 224.6 225.1
186.0 316.4 280.3 316.4 355.2 370.1 406.1 406.1 409.9 416.3
77.5
86.8
82.1
86.8
84.7
87.4
89.3
89.3
90.3
91.2
57.2
56.0
52.4
56.0
52.8
53.1
53.1
53.1
53.1
54.1
577.9 131.7 136.6 131.7 122.4 118.3 115.5 115.5 117.7 118.6

Major types of credit
Revolving
Commercial banks
Finance companies
Credit unions
Federal government6
Savings institutions
Nonfinancial business
Pools of securitized assets7,8

900.2
327.3
79.9
27.4
...
42.5
8.7
414.4

973.2
353.4
86.0
31.1
...
44.8
7.9
450.0

989.1
390.6
74.4
33.4
...
39.6
8.7
442.4

894.0
362.4
46.4
35.4
...
38.1
8.8
402.8

Nonrevolving
Commercial banks
Finance companies
Credit unions
Federal government6
Savings institutions
Nonfinancial business
Pools of securitized assets7,8

826.7
615.1
71.9
36.3
...
49.6
8.8
44.9

806.9
603.7
67.2
35.3
...
45.3
8.4
47.0

826.7
615.1
71.9
36.3
...
49.6
8.8
44.9

779.6
577.0
69.0
35.0
...
47.9
8.1
42.5

787.4
581.9
70.0
35.8
...
50.8
8.2
40.7

793.4
583.9
72.2
36.3
...
52.4
8.4
40.2

793.4
583.9
72.2
36.3
...
52.4
8.4
40.2

794.5
582.5
73.2
36.8
...
53.1
8.4
40.6

807.9
591.3
75.6
37.1
...
53.8
8.5
41.6

1,515.8 1,582.1 1,605.1 1,584.9 1,608.0 1,601.0 1,608.0 1,622.3 1,636.5 1,672.6 1,672.6 1,674.1 1,682.4
413.9 450.7 488.1 492.9 483.6 511.5 483.6 481.9 490.5 489.9 489.9 490.2 491.2
454.5 498.0 501.3 441.3 446.7 449.1 446.7 440.8 431.8 432.1 432.1 427.3 426.8
207.1 204.6 202.8 201.7 190.1 189.6 190.1 183.1 185.1 187.6 187.6 187.8 188.1
91.7
98.4 111.0 186.0 316.4 280.3 316.4 355.2 370.1 406.1 406.1 409.9 416.3
53.1
46.0
46.8
39.5
37.2
36.9
37.2
36.9
36.7
36.9
36.9
37.2
37.4
48.9
50.7
51.1
48.4
47.2
44.1
47.2
44.6
44.8
44.7
44.7
44.6
45.5
246.7 233.6 204.0 175.1
86.8
89.6
86.8
79.9
77.6
75.3
75.3
77.1
77.0

Footnotes
1. Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate.
2. The series for consumer credit outstanding and its components may contain breaks that result from discontinuities in source data. Percent changes are adjusted to exclude
the effect of such breaks. In addition percent changes are at a simple annual rate and are calculated from unrounded data.
3. Includes automobile loans and all other loans not included in revolving credit, such as loans for mobile homes, 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).
5. The statistical foundation for these series has deteriorated in the past few months. Therefore, publication of these series is temporarily being suspended. The statistical
foundation is in the process of being improved, and publication will resume as soon as possible.
6. Data for the Student Loan Marketing Association (Sallie Mae) are included in the Federal government sector until the completion of Sallie Mae’s privatization in 2004:Q4 and
in the Finance companies sector thereafter.
7. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators.
8. The shift of consumer credit from pools of securitized assets to other categories is largely due to financial institutions’ implementation of the FAS 166/167 accounting rules.
r=revised. p=preliminary. n.a.=not available. ...=not applicable.