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FEDERAL RESERVE statistical release
'•.f^LRl^V'
For immediate r e l e a s e
June 14, 1984

G.19
CONSUMER INSTALLMENT CREDIT

Consumer i n s t a l l m e n t c r e d i t outstanding in April grew by $6.41 b i l l i o n , s e a s o n a l l y
a d j u s t e d , following an i n c r e a s e of $5.87 b i l l i o n in March.
The annual rate of growth was
19 percent in April and 17-1/2 percent in March, compared with an 11-1/2 percent r a t e for a l l
of 1983.
Automobile c r e d i t rebounded to a $2.16 b i l l i o n gain in April from a $326 m i l l i o n
i n c r e a s e in March. Revolving c r e d i t expanded by $1.87 b i l l i o n , following a record i n c r e a s e of
$2.96 b i l l i o n the month b e f o r e .
The l a r g e "other" category — mainly personal cash loans and
s a l e s finance c o n t r a c t s for non-automotive consumer goods — made a gain of $2«10
billion
in A p r i l , compared with $2.30 b i l l i o n in March.

FLOWS OF CREDIT
M i l l i o n s of d o l l a r s
( s e a s o n a l l y adjusted)

Total
Automobile
Revolving
Mobile home
Other

Net Change in
Amount Outstanding

Annual Rate of Growth
(percent)

1984

1984

April

March

Feb.

April

March

Feb.

6,408
2,158
1,868
285
2,097

5,870
326
2,962
285
2,298

6,608
2,799
1,273
-127
2,662

19.0
17.6
27.9
14.5
16.3

17.6
2.7
46.0
14.7
18.1

20.2
23.3
20.1
-6.5
21.3

1984
TERMS OF CREDIT
(not s e a s o n a l l y adj usted)
I n t e r e s t r a t e s 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
Other terms at
auto finance companies 3 /
Maturity (months)
New-car loan
Used-car loan
Loan-to-value r a t i o (%)
New-car loan
Used-car loan
Amount financed
($)
New-car loan
Used-car loan



May

1983

April

March

Feb.

May

13.53
16.35
15.54
18.71

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

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

13.32
16.16
15.45
18.73

13.90
16.57
15.84
18.79

n.a.
n.a.

14.06
17.59

14.05
17.52

14.11
17.59

11.90
18.91

n.a.
n.a-.

47.1
39.5

46.7
39.4

46.4
39.4

45.8
37.7

n.a.
n.a.

88
92

87
92

87
91

86
91

n.a.
n.a.

9,190
5,547

9,139
5,474

9,072
5,418

8,662
4,869

CONSUMER INSTALLMENT CREDIT 3Y HOLDER AND TYPE

( M i l l i o n s of d o l l a r s except as noted)

Installment credit
holder and type

Net change during
April
March
April
1984
1984
1984

Outstanding a t end of
April
April
April
1984
198^
1983
S.A.
N.S.A.
N.S.A.

Change from end of
April 1983
amount
percent

O.A*

D • A.

6,408

5,870

5,205

412,073

407,671

353,263

54,408

15.4

4,015
-350
1,529
278
868
2
66

3,422
-193
1,230
355
813
2
242

3,397
-500
1,070
119
886
11
222

183,331
101,775
57,539
34,005
23,979
4,128
7,316

181,022
101,119
56,962
33,327
23,957
3,955
7,329

149,311
99,357
47,505
29,871
18,022
3,980
5,217

31,711
1,762
9,457
3,456
5,935
-25
2,112

21.2
1.8
19.9
11.6
32.9
-0.6
40.5

Automobile.
Commercial banks
Finance companies
Credit unions

2,158
1,766
-342
734

326
432
-766
660

1,897
1,779
-394
512

149,265
73,580
48,166
27,519

147,944
73,016
47,684
27,244

129,842
56,865
50,256
22,721

18,102
16,151
-2,572
4,523

13.9
28.4
-5.1
19.9

Revolving
Commercial banks
Retailers 4/
Gasoline companies

1,868
1,568
298
2

2,962
2,613
347
2

1,074
914
149
11

82,172
47,319
30,725
4,128

80,184
46,149
30,080
3,955

66,355
35,773
26,602
3,980

13,829
10,376
3,478
-25

20.8
29.0
13.1
-0.6

285
27
110
132
16

285
-85
218
141
10

189
-9
28
159
11

23,811
9,674
9,259
4,268
610

23,850
9,580
9,361
4,306
603

22,636
9,697
9,106
3,330
503

1,214
-117
255
976
100

5.4
-1.2
2.8
29.3
19.9

2,097
653
-118
780
-20
735
66

2,298
463
355
558
8
673
242

2,045
713
-134
547
-30
727
222

156,825
52,758
44,350
29,410
3,280
19,711
7,316

155,693
52,277
44,074
29,115
3,247
19,651
7,329

134,430
46,976
39,995
24,281
3,269
14,692
5,217

21,263
5,301
4,079
4,834
-22
4,959
2,112

15.8
11.3
10.2
19.9
-0.7
33.8
40.5

Total

!N * o« A .

By major holder
Commercial banks
Finance companies
Credit unions
Retailers 4/
Savings and l o a n s
Gasoline companies
Mutual s a v i n g s banks
By major c r e d i t type

Mobile home
Commercial banks
Finance companies
Savings and loans
Credit unions
Other
Commercial banks
Finance companies
Credit unions
Retailers 4/
Savings and l o a n s
Mutual s a v i n g s banks

1. I n t e r e s t r a t e s are annual percentage r a t e s a s s p e c i f i e d by R e g u l a t i o n Z.
2 . Commercial bank data are simple unweighted averages of each bank's "most common" r a t e charged
during the f i r s t calendar week of the month.
3 . Finance company data from the s u b s i d i a r i e s of the three major U.S. automobile manufacturers
are volume-weighted averages covering a l l l o a n s of each type purchased during t h e month.
4. Includes auto d e a l e r s and e x c l u d e s 30^-day charge c r e d i t h e l d - b y t r a v e l and e n t e r t a i n m e n t
companies.
5 . n . a . = Data not a v a i l a b l e .
S.A.- Seasonally adjusted.
N.S.A. 3 8 Not s e a s o n a l l y a d j u s t e d .
NOTE: The Board's s e r i e s on amounts of c r e d i t c o v e r s most s h o r t - and i n t e r m e d i a t e - t e r m c r e d i t
extended to i n d i v i d u a l s through regular b u s i n e s s c h a n n e l s , u s u a l l y to f i n a n c e the purchase
of consumer goods and s e r v i c e s or to r e f i n a n c e d e b t s incurred for such p u r p o s e s , and s c h e d u l e d , to
be repaid (or with the o p t i o n of repayment) in two or more i n s t a l l m e n t s .