Full text of G.19 Consumer Credit : March 10, 1995
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FEDERAL RESERVE statistical release This release is issued around the fifth business day of each month. The exact date and time may be obtained by calling (202) 452-3206 G. 19 March 10, 1995 * CORRECTED * CONSUMER INSTALLMENT CREDIT January 1995 Based on corrected data, consumer installment credit outstanding increased $7.6 billion in January on a seasonally adjusted basis, after a gain of $6.6 billion in December. Revolving credit increased $4.7 billion while auto credit declined slightly. "Other" credit rose $3.2 billion, after correcting a miscalculation in the previous data. MONTHLY CHANGE IN CREDIT OUTSTANDING1 Seasonally adjusted Amount (millions of dollars) Type of credit 1994 Nov. Dec. r I Total 13,154 6,554 5.411 1.072 Automobile Revolving 7,136 2,851 Other2 607 2,631 Annual rate (percent) 1995 Jan.J5 7,645 -289 4,713 3,221 1994 TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES3 Percent except as noted, not seasonally adjusted 1994 Institution, terms, and type of loan Jan. Feb. Nov. Dec. Commercial banks Interest rates 48-mo. new car loan 24-mo, personal loan Credit card plan* All accounts Accounts assessed interest Auto finance companies Interest rates New car Used car Maturity (months) New car Used car Loan-to-value ratio New car Used car Amount financed (dollars) New car Used car 1995 Jan.__P 10.1 -1.1 16.7 15.5 Dec. r 8.7 4.0 10.2 12.8 Nov. 17.7 20.4 26.1 3.0 1 1995 Jan. Feb. n.a. n.a. 7.54 12.89 8.75 13.59 n.a. n.a. n.a. n.a. 9.70 14.10 n.a. n.a. n.a. n.a. 15.91 15.74 n.a. n.a. n.a. n.a. n.a. n.a. 7.55 12.02 8.93 12.23 10.53 14.19 10.72 14.48 11.35 14.57 n.a. n.a. 52.9 50.0 54.4 50.3 54.6 50.3 53.9 50.3 53.9 52.0 n.a. n.a. 91 98 91 99 93 100 92 100 92 99 n.a. n.a. 15,330 10,434 14,904 10,449 15,971 11,202 16,187 11,309 16,068 11,185 n.a. n.a. * Data on credit card rates now are being collected in a new survey that was conducted for the first time for November, 1994. The rates for all accounts and for accounts assessed interest are described in footnote 3. Other notes appear on reverse. CONSUMER INSTALLMENT CREDIT OUTSTANDING (Millions of dollars) 1994 Type of credit and holder Jan. Feb. Mar. Apr. May June 1995 T Aug. Sept. Oct. Nov. Dec. 869628 309721 321365 238542 879961 315162 322823 241976 891603 318036 327707 245860 904757 323447 334843 246467 911311 324519 337694 249098 918956 324230 342406 252319 July Jan.P Seasonally adjusted Total Automobile Revolving Other2 798844 283134 290165 225545 802720 284447 292604 225668 813750 288663 296710 228376 823342 293018 301260 229064 836936 298278 305528 233130 847715 303526 309472 234717 854469 305193 313591 235685 Not seasonally adjusted Total Major holders Commercial banks Finance companies Credit unions Savings institutions Nonfinancial business4 Pools of securitized assets5 Major types of credit6 Automobile Commercial banks Finance companies Pools of securitized assets5 Revolving Commercial banks Nonfinancial business4 Pools of securitized assets5 Other Commercial banks Finance companies Nonfinancial business4 Pools of securitized assets5 806781 803323 810030 818956 830065 842126 847727 868049 880609 891442 906436 932890 927933 367883 117482 100192 37617 55228 128379 366712 118034 100259 37380 53453 127485 369710 120113 101583 37141 53410 128073 376379 122806 102718 37472 53756 125825 380063 122204 105718 37803 54505 129772 386235 124318 108183 38134 55374 129882 393927 123202 109838 38055 55775 126930 404438 125197 113122 37975 56496 130821 410312 130306 114699 37943 55967 131382 414833 131562 116325 38122 56020 134580 421790 132874 117984 38275 58247 137266 434790 134830 120158 38750 64944 139418 430241 136717 120798 39250 61382 139545 283174 124238 57474 37426 296045 145673 49757 79444 227562 97972 60008 5471 11509 283806 124449 58253 36599 292487 144274 48017 79597 227030 97989 59781 5436 11289 288132 126949 58999 36613 293570 145701 47937 79768 228328 97060 61114 5473 11692 291957 130104 60660 34531 297740 149265 48279 79927 229259 97010 62146 5477 11367 297172 132979 59398 35836 301609 149972 49005 82064 231284 97112 62806 5500 11872 302874 136038 59788 35817 305758 153032 49845 82075 233494 97165 64530 5529 11990 304026 138907 58107 34436 309716 156940 50218 81704 233985 98080 65095 5557 10790 310925 142452 58589 34584 319003 161417 50873 85644 238121 100569 66608 5623 10593 316778 144260 60522 35149 321205 164724 50314 85051 242626 101328 69784 5653 11182 320182 146456 60750 34394 325872 165561 50332 88762 245388 102816 70812 5688 11424 323744 148004 61372 34301 336575 171318 52475 91469 246117 102468 71502 5772 11496 325536 148117 61609 34515 355859 180530 58870 93545 251495 106143 73221 6074 11358 324201 146622 62326 32869 349242 175828 55405 95015 254490 107791 74391 5977 11661 1. Covers most short- and intermediate-term credit extended to individuals that is scheduled to be repaid (or has the option of repayment) in two or more installments, excluding loans secured by real estate. 2. Comprises mobile home loans and all other installment loans not included in automobile or revolving credit, such as loans for education, boats, trailers, or vacations. These loans may be secured or unsecured. 3. Interest rates are annual percentage rates (APR) as specified by the Federal Reserve's Regulation Z= Interest rates for new-car loans and personal loans at commercial banks are simple unweighted averages of each bank's most common rate charged during the first calendar week of the middle month of each quarter. For credit card accounts, the rate for all accounts is the stated APR averaged across all credit card accounts at all reporting banks. The rate for accounts assessed interest is the annualized ratio of total finance charges at all reporting banks to the total average daily balances against which the finance charges were assessed (excludes accounts for which no finance charges were assessed). Finance company data are from the subsidiaries of the three major U.S. automobile manufacturers and are volume-weighted averages covering all loans of each type purchased during the month. 4. Includes retailers and gasoline companies. 5. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators. 6. Includes estimates for holders that do not separately report consumer credit holding by type, r = revised, p = preliminary.