Full text of G.19 Consumer Credit : July 16, 1984
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE statistical release VBg&y G.19 For immediate release July 16, 1984 CONSUMER INSTALLMENT CREDIT Consumer i n s t a l l m e n t c r e d i t outstanding in May expanded by a record $10.23 b i l l i o n , s e a s o n a l l y adjusted, following an increase of $6.41 b i l l i o n in April. The l a r g e s t previous monthly gain was $6.61 b i l l i o n in February of t h i s y e a r . The annual rate of growth was nearly 30 percent in May compared with 19 percent in April and 11-1/2 percent for a l l of 1983. Substantial increases occurred in a l l major c a t e g o r i e s during May. Automobile c r e d i t outstanding advanced by $3.69 b i l l i o n following a $2.16 b i l l i o n gain in April. Revolving c r e d i t expanded by $2.82 b i l l i o n , compared to $1.87 b i l l i o n in April and the large "other" category increased by $3.43 b i l l i o n in May compared with $2.10 b i l l i o n the previous month. FLOWS OF CREDIT M i l l i o n s of d o l l a r s ( s e a s o n a l l y adjusted) Total Automobile Revolving Mobile home Other Net Change in Amount Outstanding Annual Rate of Growth (percent) 1984 1984 May April March May 10,233 3,689 2,817 302 3,425 6,408 2,158 1,868 285 2,097 5,870 326 2,962 285 2,298 29.8 29.7 41.1 15.2 26.2 1984 TERMS OF CREDIT (not s e a s o n a l l y adjusted) I n t e r e s t r a t e s 1/ Commercial banks 2 / 48-mo. new-car loan 24-mo• personal loan 120-mo. mobile home loan Credit card plan Auto finance companies 3 / New-car loan Used-car loan Other terms a t auto finance companies 3 / Maturity (months) New-car loan Used-car loan Loan-to-value r a t i o (%) New-car loan Used-car loan Amount financed ( $ ) New-car loan Used-car loan May April 19.0 17.6 27.9 14.5 16.3 March 17.6 2.7 46.0 14.7 18.1 1983 April March Feb. May 13.53 16.35 15.54 18.71 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 13.32 16.16 15.45 18.73 13.90 16.57 15.84 18.79 14.17 17.60 14.06 17.59 14.05 17.52 14.11 17.59 11.94 18.76 47.7 39.7 47.1 39.5 46.7 39.4 46.4 39.4 45.5 37.9 88 92 88 92 87 92 87 91 86 92 9,072 5,418 8,572 4,984 9,262 5,675 9,190 5,547 9,139 5,474 CONSUMER INSTALLMENT CREDIT BY HOLDER AND TYPE (Millions of dollars except as noted) stallm*mt c;redit holder and type Net change during May April 1984 1984 1984 S.A. S.A. N.S.A. May Outstanding at end of April May 1984 1984 1983 S.A. N.S.A. N.S.A. May Change from end of May 1983 amount percent 10,233 6,408 10,409 422,306 418,080 355,302 62,778 17.7 6,065 1,304 1,453 4,015 -350 1,529 5,646 1,848 1,555 278 868 2 66 403 958 65 -66 186,668 102,967 58,517 33,730 24,915 4,020 7,263 149,601 100,116 47,838 30,041 18,484 3,943 5,279 37,067 2,851 10,679 3,689 6,431 24.8 476 979 46 -90 189,396 103,079 58,992 34,481 24,958 4,174 7,226 77 2.0 1,984 37.6 Automobile Commercial banks Finance companies Credit unions 3,689 2,807 2,158 1,766 -342 4,281 2,771 152,954 76,387 48,353 28,214 152,225 75,787 48,450 27,988 130,938 57,352 50,706 22,880 21,287 18,435 -2,256 5,108 16.3 32.1 -4.4 22.3 Revolving Commercial banks Retailers 4/ Gasoline companies 84,989 49,617 31,198 4,174 82,436 47,936 30,480 4,020 66,423 35,687 26,793 3,943 16,013 12,249 3,687 24.1 34.3 13.8 77 2.0 Total By major holder Commercial banks Finance companies Credit unions Retailers 4/ Savings and loans Gasoline companies Mutual savings banks 2.8 22.3 12.3 34.8 By major c r e d i t type Mobile home Commercial banks Finance companies Savings and loans Credit unions Other Commercial banks Finance companies Credit unions Retailers 4/ Savings and loans Mutual savings banks 187 695 734 766 744 2,817 2,298 1,868 1,568 2,252 1,787 473 46 298 2 400 65 302 -50 156 183 13 285 27 110 132 16 254 -7 73 172 16 24,113 9,624 9,415 4,451 24,104 9,573 9,434 4,478 22,673 9,672 9,145 3,349 1,431 6.3 -99 289 -1.0 1,129 623 619 507 112 33.7 22.1 3,425 1,010 2,097 961 745 3 796 -90 -118 3,622 1,095 1,009 780 -20 735 66 795 3 786 -66 160,250 53,768 45,311 30,155 3,283 20,507 7,226 159,315 53,372 45,083 29,910 3,250 20,437 7,263 135,268 46,890 40,265 24,451 3,248 15,135 5,279 24,047 6,482 4,818 5,459 17.8 13.8 12.0 22.3 653 3.2 2 0.1 5,302 1,984 35.0 37.6 1. I n t e r e s t r a t e s are annual percentage r a t e s as s p e c i f i e d by Regulation Z. 2. Commercial bank data are simple unweighted averages of each bank's "most common" rate charged during the f i r s t calendar week of the month. 3 . Finance company data from the s u b s i d i a r i e s of the three major U.S. automobile manufacturers are volume-weighted averages covering a l l loans of each type purchased during the month. 4. Includes auto dealers and excludes 30-day charge c r e d i t held by travel and entertainment companies • 5. n . a . « Data not a v a i l a b l e . S.A.* Seasonally a d j u s t e d . N.S.A. 38 Not s e a s o n a l l y adjusted. NOTE: The Board's s e r i e s on amounts of c r e d i t covers most short- and intermediate-term credit extended to i n d i v i d u a l s through regular business channels, u s u a l l y to finance the purchase of consumer goods and s e r v i c e s or to refinance debts incurred for such purposes, and scheduled to be repaid (or with the option of repayment) in two or more i n s t a l l m e n t s .