Full text of G.19 Consumer Credit : July 8, 1993

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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

For immediate release
July 8, 1993

G. 19

CONSUMER INSTALLMENT CREDIT
May 1993
Consumer installment credit declined $.8 billion in May, following a $3.0 billion rise in April. The May decline
occurred in the "other" loan category, and reflected around $3.0 billion of loans sold to entities outside the holder groups
currently covered by this release (see reverse side). The changing structure of the market was reflected in the introduction
in 1989 of an entry for securities backed by pools of consumer receivables; as information can be gathered systematically to
reflect other important innovations, further enhancements of series coverage will be made.
MONTHLY CHANGE IN CREDIT OUTSTANDING1
Seasonally adjusted
Type of credit

Total
Automobile
Revolving
Other 2

Mar.
2,962
505
1,612
845

Amount
(millions of dollars)
1993
Apr. r
2,992
376
1,710
906

MayP
-802
1,727
942
-3,471

Annual rate
(percent)
1993
Apr. r
4.8
1.7
7.9
4.7

Mar.
4.7
2.3
7.5
4.4

MayP
-1.3
7.9
4.3
-18.1

TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES3
Percent except as noted, not seasonally adjusted
Institution, tenns, and type of loan

Apr.

1992
May

Nov.

Feb.

1993
Apr.

May

Commercial banks
Interest rates
48-mo. new car loan
24-mtt personal loan
120-ino. mobile home loan
Credit card plan

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

9.52
14.28
12.82
17.97

8.60
13.55
12.36
17.38

8.57
13.57
12.38
17.26

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

8.17
13.63
12.00
17.15

10.84
14.14

10.67
14.01

9.65
13.37

10.32
13.90

9.61
12.74

9.51
12.61

54.5
47.8

54.7
47.9

54.1
47.8

54.3
49.0

54.5
48.9

54.4
48.9

89
97

89
97

89
97

91
98

90
98

91
98

13,208
8,905

13,373
9,247

14,043
9,475

13,849
9,457

14,021
9,731

14,146
9,829

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

Notes appear on reverse.




CONSUMER I N M A L L M E N l L K b D l l OUIMAINDINU

(Millions of dollars)
1992

Type of credit and holder

May

June

July

Aug

Sept

1993
Nov

Oct

Dec

Feb

Mar

Apr 1

MayP

744196
258463
256435
229299

748765
260945
259378
228443

751727
261449
260990
229288

754719
261826
262700
230193

753917
263552
263642
226723

Jan -

Seasonally adjusted

Total
Automobile
Revolving
Other2

730612
259844
247205
223562

730866
257989
248795
224081

730496
258259
248980
223257

731023
258827
249384
222812

733023
259433
250456
223135

734195
258208
251806
224181

736023
258860
252086
225077

741093
259627
254299
227167

Not seasonally adjusted

Total
Major holders
Commercial banks
Finance companies
Credit unions
Savings institutions
Retailers
Gasoline companies
Pools of secuntized assets4
Major types of credit5
Automobile
Commercial banks
Finance companies
Pools of secuntized assets4
Revolving
Commercial banks
Retailers
Gasoline companies
Pools of secuntized assets4
Other
Commercial banks
Finance companies
Retailers
Pools of secuntized assets4

725317

727478

726917

731954

734884

734766

737651

756944

749153

746914

744713

748955

748375

327072
116168
91,605
42,202
35,731
4,193
108347

326502
116661
91,995
41,768
35,415
4,360
110776

326849
117024
92,248
41,813
34,646
4,506
109831

327170
117230
93,360
41,932
35,943
4,542
111777

327437
116669
94,644
41,317
35,925
4,499
114393

326472
116359
95,517
42,031
36,441
4,452
113494

325149
116558
96,092
42,746
36,678
4,365
116063

331869
117127
97,641
43,461
42,079
4,365
120402

330355
116009
98,261
43,428
40,057
4,366
116677

330060
112686
98,785
43,516
38,462
4,148
119257

329764
111854
99,778
43,255
38,030
4,080
117952

331649
112523
101534
43,451
38,218
4,280
117300

333314
109251
102967
43,785
38,681
4,486
1158^

258700
110802
59,399
31,209
244236
127838
30,660
4,193
65,010
222381
88,432
56,769
5,071
12,128

257973
109212
60,056
31,029
246596
127700
30,319
4,360
67,403
222909
89,590
56,606
5,096
12,344

258457
110490
60,400
29,966
246332
127574
29,532
4,506
67,773
222128
88,785
56,624
5,114
, 12,092

260564
111048
60,393
31,132
248386
127063
30,797
4,542
68,805
223005
89,059
56,838
5,146
11,840

262042
111646
59,806
32,283
249421
126971
30,763
4,499
69,901
223422
88,820
56,864
5,162
12,209

260201
110447
59,290
32,065
249983
126992
31,254
4,452
69,285
224581
89,033
57,068
5,187
12,144

259148
109459
58,386
32,979
252877
127481
31,444
4,365
70,889
225626
88,209
58,172
5,234
12,195

259964
109743
57,605
33,878
267949
132582
36,629
4,365
74,243
229031
89,544
59,522
5,450
12,281

257744
109671
57,165
32,388
261217
129567
34,666
4,366
71,927
230192
91,117
58,844
5,391
12,362

259344
111005
54,036
36,031
258430
127877
33,110
4,148
72,024
229141
91,178
58,651
5,352
11,202

259089
111287
53,508
36,096
257544
128079
32,681
4,080
70,890
228080
90,398
58,346
5,349
10,966

260224
111351
53,977
36,178
259015
129464
32,838
4,280
69,919
229716
90,834
58,546
5,380
11,203

262407
113322
53,907
35,974
260506
130531
33,254
4,486
69,054
225462
89,461
55,344
5,427
10,863

1 Covers most short- and intermediate-term credit extended to individuals t,at is scheduled to be repaid (or has the option of repayment) in two or more installments, excluding loans secured by real estate
2 Composes mobile home loans and all other installment loans not mcluder in automobile or revolving credit, such as loans foi education, boats, trailers, or vacations These loans may be secured or unsecured
3 Interest rates are annual percentage rates as specified by the Federal Rese ve's Regulation Z Interest rates at commercial banks are simple unweighted averages of each bank's most common rate charged dunng the first calendar
week of the middle month of each quarter Finance company data are from he subsidiaries of the three major U S automobile manufacturers and are volume-weighted averages covering all loans of each type purchased dunng the
month
4 Outstanding balances of pools upon which securities have been issued tl ese balances are no longer earned on the balance sheets of the loan onginators
5 Includes estimates for holders that do not separately report consumer crec it holding b> type
r = revised
p = preliminary