Full text of G.19 Consumer Credit : July 8, 1991

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FEDERAL RESERVE statistical release
.f£u*eV

For immediate release
July 8, 1991
G.19

CONSUMER INSTALLMENT CREDIT
Consumer installment credit outstanding declined about $600 million in
May, following a downward-revised increase of $1.2 billion in April.
Automobile and Mobile Home borrowings declined substantially at about a
15 percent seasonally adjusted annual rate. Revolving credit increased a bit
more rapidly in May than in April, but at a pace still well below the brisk
rate of February and March. The growth in "Other'* loans outstanding also
picked up in May.
Net change in
amount outstanding
(millions of dollars)
1991
May p
Apr r
Mar

Annual rate of growth
(percent)
1991
May p
Apr r
Mar

CHANGE IN CREDIT, BY TYPE 1/
(seasonally adjusted)
Total
Automobile
Revolving
Mobile home
Other

-626
-3,297
1,446
-256
1,481

1,179
-943
1,177

-320
-1,937
3,261

-24
969

-1,566

-1.0
-14.1
7.7
-15.3
8.6

-78

1.9
-4.0
6.3
-1.5
5.6

1991

May

Apr

Mar

-0.5
-8.2
17,7
-4.6
-9.0

Feb

1990May

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

11.28
15.16
13.80
18.22
12.95
15.85

Other terms at
auto finance companies
Maturity (months)
New car loan
55.5
Used car loan
47.3
Loan-to-value ratio (percent)
New car loan
87
Used car loan
96
Amount financed (dollars)
New car loan
12,204
Used car loan
8,873




n
n
n
n

.a .
.a.
.a .
.a .

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

11.60
15.42
13.88
18.28

11.82
15.41
14.09
18.14

13.14
15.82

13.14
15.82

13.16
15.90

12.23
16.03

55.4
47.3

55.2
47.2

55.2
47.1

54.5
46.1

87
97

87
97

88
96

87
96

11,993
8,751

12,121
8,763

12,081
8,605

12,064
8,169

CONSUMER INSTALLMENT CREDIT, BY HOLDER AND TYPE 1/
Millions of dollars

May p
1991

Apr r
1991

Mar
1991

„
Total
Automobile
Revolving
Mobile home
Other

Feb
1991

Jan
1991

May
1990

Apr
1990

seasonally adjusted

732,995

733,621

732,442

732,762

732,962

729,528

727,798

276,449
227,440
19,842
209,263

279,746
225,994
20,098
207,782

280,689
224,817
20,123
206,813

282,626
221,556
20,200
208,379

283,746
219,588
20,459
209,170

289,416
210,618
22,073
207,421

290,000
207,673
22,359
207,766

not seasonally adjusted
Total

728,419

727,907

725,462

729,264

736,399

724,961

722,166

334,801
134,045
92,054
41,214
36,782
4,507
85,016

336,425
133,462
91,413
41,707
37,817
4,357
82,726

335,754
131,552
90,772
42,491
38,497
4,296
82,100

339,282
133,021
91,131
43,875
38,864
4,404
78,687

341,426
134,965
91,991
44,939
40,945
4,766
77,367

337,475
138,384
91,730
55,485
39,704
4,024
58,159

336,026
138,174
91,580
56,956
39,579
3,928
55,923

Automobile
Commercial banks
Finance companies
Pools of securitized assets 3/

275,537
121,530
69,689
26,777

277,508
122,710
70,500
26,875

277,798
123,411
69,233
27,775

279,913
124,745
70,287
26,872

282,214
126,235
72,015
25,123

288,345
126,752
78,927
20,227

287,564
126,154
79,295
19,484

Revolving
Commercial banks
Retailers
Gasoline companies
Pools of securitized assets 3/

224,438
126,085
32,458
4,507
49,667

222,627
126,009
33,513
4,357
47,116

221,400
124,619
34,179
4,296
46,722

220,714
125,673
34,509
4,404
44,451

223,606
125,814
36,510
4,766
44,773

207,796
125,619
35,271
4,024
30,955

204,641
124,262
35,157
3,928
29,333

19,767
9,379
5,595

20,052
9,565
5,574

20,030
9,632
5,328

20,362
9,730
5,330

20,614
9,748
5,367

21,980
9,162
5,224

22,299
9,115
5,168

208,677
77,807
58,761
4,324

207,720
78,141
57,388
4,304

206,234
78,092
56,991
4,318

208,275
79,134
57,404
4,355

209,965
79,629
57,583
4,435

206,840
75,942
54,233
4,433

207,662
76,495
53,711
4,422

8,572

8,735

7,603

7,364

7,471

6,977

7,106

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

Mobile homes
Commercial banks
Finance companies
Other
Commercial banks
Finance companies
Retailers
Pools of securitized assets
(incl. mobile homes) 3/

1. The Board's series on amounts of credit cover most short- and intermediate-term credit
extended to in dividuals that is scheduled to be repaid (or has the option of repayment) in two
or more instal lments, excluding loans secured by real estate.
2. Interest ra tes are annual percentage rates as specified by Regulation Z. Commercial
bank data are simple unweighted averages of each bank's "most common" rate charged during
the first cale ndar week of the mid-month of each quarter. Finance company data from the
subsidiaries o f the three major U.S. automobile manufacturers are volume-weighted averages
covering all 1 oans of each type purchased during the month.
3. Outstanding balances of pools upon which securities have been issued; these balances
are no longer carried on the balance sheets of the loan originator,
4. Type-of-cre dit totals include estimates for certain holders for which only consumer
credit totals are available.
r = revised.

p = preliminary.

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




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