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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

Total
Automobile
Revolving
Mobile home
Other

1983

Apr.

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.