Full text of G.19 Consumer Credit : June 13, 1983
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FEDERAL RESERVE statistical release rf^^y G.19 For immediate release June 13, 1983 CONSUMER INSTALLMENT CREDIT Consumer installment credit outstanding during April increased by $2.27 billion, seasonally adjusted, following a $2.58 billion gain in March. The annual rate of growth was 8 percent in April compared with an average of 7 percent during the first quarter of 1983 and 4 percent during the year 1982. Growth in automobile credit slowed to $689 million in April from $1.22 billion in March, while growth in the large "other" category picked up from the March pace. Revolving credit expansion slowed somewhat but, at $917 million, represented the largest monthly increase in this component (except for March) since June 1978. FLOWS OF CREDIT Millions of dollars, except as noted (seasonally adjusted) Net Change in Amount: Outstanding Annual Rate of Growth (percent) 1983 1983 Apr. Total Automobile Revolving Mobile home Other Mar. Feb. Apr. Mar. Feb. 2,271 689 917 22 643 2,582 1,221 1,177 -61 245 735 -233 -135 204 899 7.9 6.3 17.2 1.4 5.9 9.0 11.2 22.5 -3.7 2.3 2.6 -2.1 -2.6 12.7 8.4 1983 TERMS OF CREDIT (not seasonally adjusted) Interest rates 1/ Commercial banks 2/ 48-mo. new-car loan 24-mo. personal loan 120-mo. mobile home loan Credit card plan Auto finance companies 3/ New-car loan Used-car loan May Apr. Mar. Feb. 13.90 16.57 15.84 18.79 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 14.81 17.47 16.73 18.82 n.a. n.a. n.a. n.a. n.a. 18.90 n.a. 18.41 12.07 19.38 12.05 19.91 12.25 20.20 14.78 20.84 45.9 37.7 45.9 37.7 46.0 38.2 45.9 36.8 84 91 86 90 86 90 85 90 8,829 4,802 8,755 4,731 8,683 4,742 8,617 4,698 n.a. n.a. 11.90 18.91 Other terms at auto finance companies Maturity (months) 45.8 n.a. New-car loan n.a. 37.7 Used-car loan Loan-to-value ratio (%) 86 n.a. New-car loan n.a. 91 Used-car loan Amount financed ($) n.a. 8,662 New-car loan n.a. 4,869 Used-car loan 1982 Jan. May CONSUMER INSTALLMENT CREDIT BY HOLDER AND TYPE (Millions of dollars except as noted) Installment credit holder and type Net change during Apr. Mar. Apr. 1983 1983 1983 D »A • Total O •A • JM • o • A • Outstanding at end of Apr. Apr. Apr. 1983 1983 1982 S.A. N.S.A. N.S.A. Change from end of April 1982 amount percent 2,271 2,582 2,180 347,629 344,748 327,933 16,815 5.1 1,186 -520 1,354 1,089 -142 153,759 95,171 47,888 27,994 15,485 4,137 3,195 152,408 94,675 47,505 27,455 15,551 3,980 3,174 146,186 90,674 45,450 26,537 12,081 4,227 2,778 6,222 4,001 2,055 4.3 4.4 4.5 3.5 By major holder Commercial banks Finance companies Credit unions Retailers 4/ Savings and loans Gasoline companies Mutual savings banks 708 147 394 299 57 487 143 422 187 -35 24 424 -17 468 311 47 918 3,470 -247. 396 28.7 -5.8 14.3 By major credit type Automobile Commercial banks Finance companies Credit unions 689 612 -264 341 5.0 2.3 8.6 4.5 1,221 1,017 240 913 68 724 90 203 132,537 59,468 50,165 22,904 131,976 59,291 49,964 22,721 125,693 57,950 46,010 21,733 6,283 1,341 3,954 430 118 1 311 64,857 36,342 24,378 4,137 63,521 35,651 23,890 3,980 58,940 31,937 22,776 4,227 4,581 3,714 1,114 -247 -5.8 21 19,497 9,703 5,010 4,277 19,400 9,624 4,970 4,303 18,352 9,924 4,608 3,336 1,048 -300 -3.0 507 503 484 130,738 48,246 39,996 24,477 3,616 11,208 3,195 129,851 47,842 39,741 24,281 3,565 11,248 3,174 124,948 46,375 40,056 23,233 3,761 8,745 2,778 Revolving Commercial banks Retailers 4/ Gasoline companies 917 468 150 299 1,177 Mobile home Commercial banks Finance companies Savings and loans Credit unions 22 -99 8 107 6 -61 -95 -23 54 3 Other Commercial banks Finance companies Credit unions Retailers 4/ Savings and loans Mutual savings banks 643 205 245 423 712 362 -264 -403 -235 361 -3 287 57 72 -4 133 24 217 -18 339 47 786 426 -35 -115 3 129 4 988 362 967 19 4,903 1,467 -315 1,048 -196 2,503 396 7.8 11.6 4.9 5.7 7.9 29.0 4.0 3.9 3.2 -0.8 4.5 -5.5 28.6 14.3 1. Interest rates are annual percentage rates as specified by Regulation Z. 2. Commercial bank data are simple unweighted averages of each bank's "most common" rate charged during the first calendar week of the month. 3. 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. 4. Includes auto dealers and excludes 30-day charge credit held by travel and entertainment companies. 5. n.a.* Data not available. S.A.a Seasonally adjusted. N.S.A.= Not seasonally adjusted. NOTE: The Board's series on amounts of credit covers most short- and intermediate-term credit extended to individuals through regular business channels, usually to finance the purchase of consumer goods and services or to refinance debts incurred for such purposes, and scheduled to be repaid (or with the option of repayment) in two or more installments.
