Full text of G.19 Consumer Credit : June 14, 1984
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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 $2.30 b i l l i o n in March. FLOWS OF CREDIT M i l l i o n s of d o l l a r s ( s e a s o n a l l y adjusted) Net Change in Amount Outstanding Annual Rate of Growth (percent) 1984 1984 April Total Automobile Revolving Mobile home Other March Feb. April March Feb. 6,408 2,158 1,868 285 2,097 5,870 326 2,962 285 2,298 6,608 2,799 1,273 -127 2,662 19.0 17.6 27.9 14.5 16.3 17.6 2.7 46.0 14.7 18.1 20.2 23.3 20.1 -6.5 21.3 1984 TERMS OF CREDIT (not s e a s o n a l l y adj usted) I n t e r e s t r a t e s 1/ Commercial banks 2/ 48-mo. new-car loan 24-mo. personal loan 120-mo. mobile home loan Credit card plan Auto finance companies 3 / New-car loan Used-car loan Other terms at auto finance companies 3 / Maturity (months) New-car loan Used-car loan Loan-to-value r a t i o (%) New-car loan Used-car loan Amount financed ($) 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 ! * o« A . N 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 .
