Full text of G.19 Consumer Credit : July 7, 1989

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FEDERAL RESERVE statistical release

For immediate release
July 7, 1989
G.19

CONSUMER INSTALLMENT CREDIT

Consumer installment credit outstanding increased $3.60 billion in
May, following a $2.49 billion rise in April. The annual rate of growth in
May was 6.2 percent — above the 4.3 percent April pace but about in line with
March. Auto loans outstanding grew a little faster in May than in April.
Revolving credit advanced a little more rapidly than in April as did "other"
loans outstanding* mobile home borrowings continued to decline.
Net change in
amount outstanding
(millions of dollars)
Apr r

Mar r

Annual rate of growth
(percent)
1989
May p Apr r
Mar r

2,492
682
1,655
-174
329

3,765
82
4,261
-1,824
1,246

6.2
4.2
12.6
-0.7
4.0

1989

May p

CHANGE IN CREDIT, BY TYPE 1/
(seasona1ly adjus ted)
Total
Automobile
Revolving
Mobile home
Other

3,602
1,016
1,942
-15
659

4.3
2.8
10.9
-8.7
2.0

1989

May

Apr

Mar

Feb

6.6
0.3
28.6
-84.2
7.7

—1988May

TERMS OF CREDIT 2/
(not seasonally adjusted)
Interest rates
Commercial banks
48-mo. new car loan
24-mo. personal loan
120-mo. mobile home loan
Credit card plan
Auto finance companies
New car loan
Used car loan

12.44
15.65
14.35
18.11

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

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

11.76
15.22
14.00
17.83

10.55
14.40
13.49
17.78

11.80
16.45

12.10
16.39

13.07
16.12

13.07
15.90

12.29
14.81

53.4
47.8

55.4
47.1

55.7
47.4

56.2
46.9

91
97

92
97

92
98

94
99

11,886
7,855

11,867
7,958

11,819
8,022

11,624
7,778

Other terms at
auto finance companies
Ma tur i ty (months)
New car loan
52.7
Used car loan
46.6
Loan-to-value ratio (percent)
New car loan
91
97
Used car loan
Amount financed (dollars)
11,973
New car loan
7,908
Used car loan




CONSUMER INSTALLMENT CREDIT, BY HOLDER AND TYPE 1/
Millions of dollars
May p
1989
S.A.

Apr r
1989
S.A.

Mar r
1989
S.A.

Feb
1989
S.A.

Jan
1989
S.A.

May
1988
S.A.

May p
1989
N.S.A.

May
1988
N.S.A

697,256

693,654

691,162

687,397

682,020

632,431

691,393

626,876

323,078
145,523
89,735
61,429
41,323
3,809

320,458
144,378
89,072
61,919
41,301
3,787

318,242
143,070
88,514
62,735
41,300
3,682

318,423
143,419
87,813
63,109
41,052
3,677

316,797
141,795
87,093
62,867
40,986
3,655

297,521
145,310
83,086
61,270
41,515
3,730

320,769
143,265
88,721
61,767
40,829
3,683

295,400
143,063
82,171
61,625
41,013
3,604

32,359

32,737

33,619

29,903

28,827

n.a.

32,359

n.a.

Automobile
Commercial banks
Finance companies
Credit unions
Savings institutions
Pools of sec. assets 4/

290,547
124,962
90,976
42,613
18,601
13,395

289,531
123,878
90,268
42,388
18,866
14,132

288,850
123,062
89,567
42,211
19,231
14,779

288,767
122,983
88,789
41,964
19,464
15,568

286,382
122,160
87,968
41,707
19,506
15,042

276,458
115,426
100,671
41,033
19,329
n.a.

n.a.
124,237
89,322
n.a.
n.a.
13,395

n.a.
114,751
98,906
n.a.
n.a.
n.a.

Revolving 6/
Commercial banks
Savings institutions
Retailers
Gasoline companies
Credit unions
Pools of sec. assets 4/

186,428
115,408
11,029
36,504
3,809
5,100
14,578

184,486
114,130
10,918
36,497
3,787
5,020
14,134

182,831
112,553
10,860
36,489
3,682
4,947
14,299

178,570
111,706
10,722
36,257
3,677
4,866
11,342

176,716
111,133
10,479
36,176
3,655
4,785
10,489

162,105
107,084
9,847
36,901
3,730
4,543
n.a.

n.a.
113,850
n.a.
36,044
3,683
n.a.
14,578

n.a.
105,675
n.a.
36,431
3,604
n.a.
n.a.

23,978
8,886
5,684
9,408

23,993
8,836
5,659
9,498

24,168
8,844
5,687
9,637

25,992
8,974
7,308
9,710

26,036
8,974
7,376
9,687

26,249
9,112
7,567
9,570

n.a.
8,823
5,638
n.a.

n.a.
9,046
7,507
n.a.

196,302
73,822
48,863
42,022
22,390
4,819

195,643
73,614
48,451
41,665
22,638
4,804

195,314
73,783
47,816
41,357
23,006
4,811

194,068
74,760
47,322
40,983
23,214
4,795

192,886
74,532
46,451
40,601
23,196
4,809

167,619
65,899
37,072
37,510
22,525
4,614

n.a.
73,859
48,305
n.a.
n.a.
4,785

n.a.
65,928
36,650
n.a.
n.a.
4,582

4,386

4,471

4,541

2,993

3,296

Total
Major holder
Commercial banks
Finance companies 3/
Credit unions
Savings institutions
Retailers
Gasoline companies
Pools of securitized
assets 4/
Major credit type 5/

Mobile homes
Commercial banks
Finance companies
Savings institutions
Other
Commercial banks
Finance companies
Credit unions
Savings institutions
Retailers
Pools of sec. assets
(incl. mobile homes) 4/

4,386

1. The Board's series on amounts of credit 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. Interest rates are annual percentage rates as specified by Regulation Z. Commercial
bank data are simple unweighted averages of each bank's "most common" rae charged during
the first calendar week of the month. Finance company data from the subsidiaries of the
three major U.S. automobile manufacturers are volume-weighted averages covering all loans
of each type purchased during the month.
3. More detail for finance companies is available in the G.20 Statistical Release, Finance
Companies.
4. Outstanding balances of pools upon which securities have been issued> these balances
are no longer carried on the balance sheets of the loan originator.
5. Not seasonally adjusted data are unavailable by type of credit for certain holders, In these
cases, the seasonally adjusted total for the holder group has been allocated among the
components using the latest available benchmark information.
6. Excludes 30-day charge credit held by travel and entertainment companies.
n.a.= Data not available.
S.A.= Seasonally adjusted.
r = revised.
p = preliminary.

N.S.A.= Not seasonally adjusted.

The G.19 Statistical Release is issued around the fifth working day of each month.
date and time may be obtained by calling (202) 452-3206.




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