Full text of G.19 Consumer Credit : July 9, 1976
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FEDERAL
RESERVE
statistical
release
FOR IMMEDIATE RELEASE
JULY 9 , 1976
CONSUMER INSTALMENT CREDIT -
MAY 1976
CONSUMER INSTALMENT CREDIT OUTSTANDING INCREASED BY $ 1 . 4 8 BILLION I N MAY, AFTER
SEASONAL ADJUSTMENT.
THE G A I N , LARGEST SINCE THE $ 1 . 7 6 BILLION INCREASE OF OCTOBER 1 9 7 3 ,
RESULTED FROM LIQUIDATIONS OF CREDIT DECREASING AT A MORE RAPID RATE THAN EXTENSIONS.
ALL MAJOR CREDIT TYPES EXCEPT MOBILE HOMES REGISTERED AN INCREASE I N OUTSTANDINGS
DURING MAY. A GAIN OF $652 MILLION I N AUTOMOBILE PAPER ACCOUNTED FOR NEARLY HALF THE
TOTAL INCREASE, WITH MOST OF THE REMAINING RISE OCCURRING I N THE "ALL OTHERCATEGORY OF RETAIL STORE CREDIT AND MERCHANDISE-SECURED OR PERSONAL CASH LOANS.
DURING MAY, SEASONALLY ADJUSTED EXTENSIONS DECREASED BY ABOUT 3 PERCENT,
FOLLOWING A 3 . 7 PERCENT DROP I N APRIL.
THE DECLINE I N MAY OF $467 MILLION WAS TO A LEVEL
OF $ 1 5 . 0 4 B I L L I O N .
ONLY CREDIT UNIONS, AMONG*MAJQR EXTENDERS OF CONSUMER CREDIT,
INCREASED THEIR VOLUME OF LENDING FROM THE PREVIOUS MONTH, GAINING A NET OF $62 M I L L I O N ,
WITH NEARLY ALL OF THE INCREASE OCCURRING IN THE "ALL OTHER" GROUP. CREDIT EXTENSIONS BY
COMMERCIAL BANKS DECLINED BY $ 2 7 ] MILLION IN MAY AS BANK CREDIT EXTENDED FOR AUTOMOBILE
PURCHASES FELL BY $566 M I L L I O N .
LIQUIDATIONS, ON A SEASONALLY ADJUSTED BASIS, DROPPED BY $560 M I L L I O N , WITH
AUTOMOBILE CREDIT LIQUIDATIONS DECLINING BY $582 M I L L I O N .
CONSUMER INSTALMENT CREDIT
MAY
1976
(IN MILLIONS OF DOLLARS)
INSTALMENT CREDIT, TOTAL
I
1
1
15,0411
AMOUNT EXTENDED:
j
AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK CREDIT CARD
OTHER REVOLVING (1)
ALL OTHER
4,4711
2311
385!
2,1031
4221
7,4291
1
1
AMOUNT LIQUIDATED:
12 MONTHS
ENDING
MAY 1976
15,2291
11
!
!
1.4741
1
1
I
1
!
163,116
13,4521
!
»
»
1
lt770»
12,900
2881
1
1
164,1011
|
54,429
3,358
4,701
22,422
4,372
86,734
3141
4121
1.5281
299|
7,2041
13,459|
1
XXXXXXX
|
3,983|
4,7091
2551
445|
1,904!
382|
7,535!
I t 3821
176,017
13,740!
1
1
1
1
1
1
XXXXXXX
1
15,5081
I
1
5,088|
2471
4131
1,985|
394|
7,3821
14,1261
13,5661
NET CHANGE IN AMOUNT
OUTSTANDING
AMOUNT OUTSTANDING,
END OF MONTH:
I
I
MAY 1976 | APR. 1976 I MAY 1976 | MAY 1975 I
(SEASONALLY A D J . )
I
(NOT SEAS.ADJ.)
I
159,069
151,409!
HOLDER SHARES OF INSTALMENT CREDIT
( I N PER CENT)
HOLDER
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS ( 3 )
OTHERS ( 4 )
SHARE OF EXTENSIONS
(SEASONALLY ADJ.)
MAY 1976 1 APR. 1976| MAY
1
!
48.0!
18.5 1
16.3 1
15.41
1.8|
48.3!
18.8!
15.4|
16.4|
1.11
!
1
! MONTH-END SHARE OF OUTSTANDINGS
I
(NOT SEASONALLY A D J . )
19751 MAY 1 9 7 6 ! APR. 1 9 7 6 ! MAY
1975
»
45.7|
21.31
14.2!
17.11
1.71
1
48.6|
22.61
16.4 1
lo.oi
2.4|
I
!
48.7!
22.6|
16.31
10.11
2.3!
I
NOTE! CONSUMER INSTALMENT CREDIT CONSISTS OF SHORT- AND INTERMEDIATE-TERM CREDIT
EXTENDED THROUGH REGULAR BUSINESS CHANNELS TO FINANCE THE PURCHASE OF GOODS
AND SERVICES FOR PERSONAL CONSUMPTION, OR TO REFINANCE DffiTS INCURRED FOR
SUCH PURPOSES, AND SCHEDULED TO BE REPAID I N TWO OR MORE INSTALMENTS.
MORTGAGE CREDIT I S EXCLUDED.
BANK CHECK CREDIT AND OTHER BANK REVOLVING CREDIT.
(1)
ANNUAL AVERAGE.
(2)
RETAIL STORES AND CATALOG ORDER.
(3)
MUTUAL SAVINGS BANKS, SAVINGS AND LOAN ASSOCIATIONS, AND AUTO DEALERS.
(4)
49.1
22.9
15.0
10.7
2.3
(2)
NET
CHANGE IN INSTALMENT CRfiOrt *
(Seasonally Adjusted Quarterly Totals)
Total
ILLIONS OF DOLLARS
6
1974
CONSUMER INSTALMENT CREDIT BY HOLDER AND TYPE
MAY
1976
U N MILLIONS OF DOLLARS)
II
E X T E ND E D
L I
Q UI D A T E D
INSTALMENT CREDIT* BY
I
1
NAY
1975
S.A.
1
1
TOTAL
1
12»999|
15,5081
BY HOLDER
1
1
1
1
1
!
1
1
1
1
1
1
1
1
1
5,944|
2,7651
1,846|
2,2271
2161
7,4941
2,9131
2,386|
2,5441
1711
1
1
I
1
1
1
I
1
1
HOLDER AND TYPE
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS 1 2 )
OTHERS ( 3 )
BY CREDIT TYPE
AUTOMOBILE* TOTAL
COMMERCIAL BANKS
PURCHASED PAPER
DIRECT LOANS
FINANCE COMPANIES
CREDIT UNIONS
OTHERS ( 3 )
COMM. BANKS, TOTAL
PERSONAL LOANS
FINANCE COS.* TOTAL
PERSONAL LOANS
CREDIT UNIONS
RETAILERS
OTHERS
11J
(2)
(3)
11
1
1
1
1
7,2231
2,7761
2,448|
2,3131
280|
1
1
1
4,4711
1
1
2,136!
1*1911
944|
7531
7311
561
3,1821
1*4751
1*7071
9751
8911
401
1
1
I
2,616|
1,4131
1*2041
9141
8921
49|
1
1
1
1
1
1
1
219|
621
186 1
611
1821
49|
1
1
1
1
3501
4131
3851
1
1
6*760|
1
|
1
15,0411
1
1
1
1
1,6001
3131
1
ALL OTHER, TOTAL
H
||
||
5,0881
1
BANK CREDIT CARD
BANK CHECK CREDIT
|
MAY
I
1976
| N.S.A.
1
2191
REVOLVING
r
MAY
1976
S.A.
3,676|
1
COMMERCIAL BANKS
I
I
|
1
MOBILE HOME
HOME IMPROVEMENT* TOTAL
APR.
1976
S.A.
1
1
COMMERCIAL BANKS
FINANCE COMPANIES
|
|
|
1*458|
i,029|
1*9431
l»190|
1*078|
2,2271
751
2591
1
I
1
2331
1
1
1
1,985|
394|
2,1031
4221
7*3821
7,4291
»
1
1*489|
1*081|
1*874|
l*545|
1*446|
2,544|
29|
1
1
1*667|
1,2031
1,810|
1,4651
1*511|
2,313|
127|
15,22911
II
II
II
II
MAY
1975
S.A.
|
|
|
APR.
1976
S.A.
|
|
|
14,1261
4,709||
3,7511
4,401|
2,268|
1,3261
9411
757|
6921
351
2,871|
1,313|
1*558|
75l|
740|
39|
2,772||
1*499M
1.27311
953||
930||
54||
II
II
II
199||
56||
II
445H
II
6,964|
2,5871
1,9941
2,3671
214|
1.904»|
382||
II
7*535||
II
1.740H
1*218||
1.905M
1.567M
1**37||
2,322||
13111
13*4591
0 U T S T A N DI
7.7
6*4621
7131 1
2 * 6 4 0 1 1 1571 1
1*8441 1 5 2 1 ! 1
2*3051
51 1
2081
78| 1
3,819|
3,7971
6521 1
55,484
6,005
10.6
2,276}
1*303|
9731
7921
711|
39|
2,2701
340| 1
1,3001 1 1101 1
2311 1
969|
1221 1
776|
1811 1
7121
101 1
391
32,664
18,671
13,993
12,060
10,269
471
2*545
734
1*811
1*758
1*642
60
7.8
3.9
12.9
14.6
16.0
12.7
8,408
3,336
-375
-126
-4.5
-3.8
79,785
5,409
6.8
37,022
2,344 !
6.3
2 6 , 9 7 5 1 4 , 3 0 1( 1 5 . 9
16,465
227 1
1.4
3 , 8 54
411
10.7
1
1
I
1
246|
70|
237|
721
1
3411
374|
1
2001
232|
1*5291
3431
1
1
1
1*846|
359|
1
7,0191
6,836|
1,4571
1*0301
2,263|
1*293|
999|
2,2291
721
1
1*418|
1*012|
1»756|
1*4291
1*218|
2,367|
77|
2191
67|
229|
71|
314|
3221
711 1
8,209
6 05
7.4
1971
1991
361 1
5,048
356
7.1
1*911|
378|
1,844)
381|
1921 I
44| 1
9,402
2,777
1*272
148
13.5
5.3
6*859|
6,8151
570J 1
76,485
5*163
6.8
1*529|
1»091»
1,758|
1*4451
1,1851
2,306|
79|
1*539||
1,0911
1 * 789 |
1,464|
1,1001
2,305||
8211
138 { 1
1121 1
52 1 1
20| 1
326f 1
5| 1
48| 1
21*4861
14,871
21,4661
17,6311
15,8941
16,4651
1,1741
1,463
1,192
7621
1*089
2,529
227
162
6.8
8.0
3.5
6.2
15.9
1.4
15.5
-37|
-18|
MUTUAL SAVINGS BANKS, SAVINGS AND LOAN ASSOCIATIONS, AND AUTO DEALERS.
S . A . AND N . S . A . DENOTE SEASONALLY ADJUSTED AND NOT SEASONALLY ADJUSTED DATA,
12*692 1
6,510|
2,619|
1.9271
2 ,308 I
2021
1
1
SSif.^5 6 S_JSi-ih L J a,lrilS E Q U A L " T O B I ™ * E*l*US_
LIQUIDATIONS
(REPAYMENTS* CHAR&EOFFS, AHO OTriEa -CREDITS 1
RS
A C T I N G T ^ L O ^ M ^ I ^ I T " ;«p°
Ju?
I L A N D * $ C 0 M P A » I E S ' ™ TRAVEL AND E N ^ m N M ^ T o N P ^ I E S
P Sn Z T i I J
T
1$ REPRE
APRIL SN A « ! I S 2 f L TV AAnmc A In
£fAJS I? D A. 2N£ A^N I N C R,™
SENTS A DECREASE OF $36 MILLION FROM THE END OF
D
EASE 0F
MUTUAL S A C I ^ £*!£<
?^SJ! 4S
«
°
' 5 MILLION ON AN UNADJUSTED BASIS.
NOTE*
N G
END OF CHANGE FROM END
MAY
OF MA)t
197 5
1976
I AMOUNT 1 PER
N.S.A.
N . S . A . 1 CENT
14751 1 1 6 4 , 1 0 1
1
1
1
272||
II
II
II
13,5661
NET | 1
CHG |
I
MAY | 1
| 1 1976 1 1
| 1 S.A. | 1
(1) 1 1
1
1
1
1
6,0421
3,117|
1,720|
2,229|
1921
II
|
MAY
|
1976
| N.S.A.
1
13,300|
7,268g|
2,917||
2*416||
2,322||
306H
II
II
II
MAY
1976
S.A.
RESPECTIVELY.
DATA REVISIONS TO G.19 STATISTICAL RELEASE
This issue of the G.19 statistical release contains data which are
substantially revised due to the recent availability of benchmark information
for several major holders of consumer instalment credit.
Finance company information has been revised for all months beginning with July. 1970 data, representing adjustments as the results of a
quinquennial survey conducted by the Federal Reserve System as of June 1975.
Commercial banks, retailers, and auto dealers have been revised for
the period beginning January 1975, based on benchmark data for these lenders.
Full data revisions are available on request from the Mortgage and
Consumer Finance Section, Division of Research and Statistics, Board of
Governors of the Federal Reserve System, Washington, D.C. 20551.
The chart below portrays the seasonally adjusted total net change
in consumer instalment credit for the newly-benchmarked data since 1970 as
well as compared with the figures which were revised. On the reverse side of
this page are summary data showing aggregate values for major elements of the
revised data.
TOTAL NET CHANGE IN INSTALMENT CREDIT
^Seasonally Adjusted Quarterly Totals)
Benchmarked _ _ _ _ _ _ _ - _ _
Pre-Benchmarked
1972
BILLIONS OF DOLLARS
1974
1976
CONSUMER INSTALMENT CREDIT
S e a s o n a l l y Adjusted
197I-JAN...I
-FPft
j
-MAR...I
-APR»-,4
-WAY...I
-JUN . * 4
-JUL...!
-AUG.,.{
-bEP...|
--QCT.U..X
-NOV...I
-UiLC***4
Liquidations
8689. 1
__jail6*4
9276. 1
8682.
I
911/r
t
88C7.
I
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8846.
|
-9Q93*_ 1 _
9299.
|
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|
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9264.
___ 9 4 9 2 *
9983.
I03H9.
4
|
4
|
\
10775. I
V704.
l k 6 9 0 * 1 _- 9 7 2 7 .
11119. |
990G.
1 1 0 0 6 * 4 _. J9941*
Out-
Net
Change
Extensions
I
J
I
U
standings
T7~T
^ft4-
\
100733.
|
•ftp?*?-
|
469.
1
100351.
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5.73* - 1
102134.
417.
I
3 9 9 * 4 _ -103396.
684.
|
104310.
873. 1
105690.
1071. 1
964.
1
1219.
|
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!
1
|
l_
|
t
106837. |
1G7563* 4
108947. 1
111195* 4
1972-JAN.--1
110573.-11176*-4_j*977*4
-.11153.4
1068.
I
11060. I
110503. |
10012. 1
11516*4
-MAR*..l
1389*
4
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ui2a. l
1^160.
|
112564. |
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11367. |
1226.
\
1251.
4
114409. 1
11396* 4
-MAY*.*4
10145*4
1C380.
|
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1270. 1
116621. 1
11650. 1
- J I U . . . I - - - 1 1 3 6 1 * 4 — . J J U 3 0 9 * _ _ 4 _ _ . - 4 0 5 2 . - 4 - . - _l!779flL*_4_
10485.
|
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119942. »
124.1.
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122329. f
10747.
1
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124060. 1
10913.
1
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126756. I
12780. [
10898.
|
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|
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|
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_ _ - 1 3 & 2 1 * _ l _ __X268JL*__1
12565.
|
13648. I
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12555.
|
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151409* |
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|
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14552.
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_=F_£JEL.**!
-MAR...I
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_ _
12965. T
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|
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