Full text of G.19 Consumer Credit : March 4, 1977

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FEDERAL

RESERVE

statistical

release
FOR IMMEDIATE RELEASE
MARCH 4* 197?

CONSUMER INSTALMENT CREDIT -

JANUARY 1977

OUTSTANDING CONSUMER INSTALMENT CREDIT INCREASED BY SI.92 BILLION* SEASONALLY
ADJUSTED* IN JANUARY, UP FROM DECEMBERS SI.82 BILLION INCREASE* AND THE LARGEST
ADVANCE SINCE JULY* 1973. CREDIT NEWLY EXTENDED EDGED UP TO A NEW HIGH OF
$16.87 BILLION* AND LIQUIDATIONS OF EXISTING DEBT ALSO POSTED A RECORD AT $14*95 BILLION.
AUTOMOBILE CREDIT EXPANSION SLOWED IN JANUARY FROM THE RECORD DECEMBER PACE.
AUTO CREDIT EXTENDED* AFTER SEASONAL ADJUSTMENT* FELL 6 PER CENT* TO $4.94 BILLION* WHILE
LIQUIDATION DECLINED BY LESS THAN 2 PER CENT* RESULTING IN THE SMALLER NET CHANGE IN
OUTSTANDINGS*
THE SMALLER RISE IN AUTOMOBILE CREDIT WAS OFFSET BY A SHARPLY HIGHER NET CHANGE
IN THE LARGE "ALL OTHER* CATEGORY* WHICH EMBRACES PERSONAL CASH LOANS AND MOST INSTALMENT
CREDIT TIED TO PURCHASE OF NON-AUTOMOTIVE CONSUMER GOODS. THE NET CHANGE IN "ALL OTHER"
CREDIT EXCEEDED $1.0 BILLION FOR THE FIRST TIME.
IN OTHER CATEGORIES* MOBILE HOME CREDIT OUTSTANDING CONTRACTED IN JANUARY AFTER
POSTING A SMALL NET INCREASE IN DECEMBER. BANK-CARD CREDIT RECORDED A SMALL ADVANCE IN
OUTSTANDINGS* PRIMARILY BECAUSE LIQUIDATIONS WERE LOWER THAN IN DECEMBER.

(IN MILLIONS OF DOLLARS)
INSTALMENT CREDIT, TOTAL
AMOUNT EXTENDED:
AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK CREDIT CARD
OTHER REVOLVING fl)
ALL OTHER
AMOUNT LIQUIDATED
NET CHANGE IN AMOUNT
OUTSTANDING:
AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK CREDIT CARD
OTHER REVOLVING (1)
ALL OTHER
AMOUNT OUTSTANDING*
END OF MONTH

JAN. 1977 | DEC. 1976 I JAN. 1977 | JAN. 1976 |LATEST 12 MONTHS
(SEASONALLY ADJ.)
|
(NOT SEAS.ADJ.)
KNOT SEAS.ADJ.)
16*8701

16,7021

14*0851

12*5401

I

I

I

I

4*940|
2451
4941
2*1171
4621
8*6121

5*2631
3201
4611
2,2171
426|
8,0151

3*8821
168|
317|
2*1461
445|
7tl27|

3*6521
194|
290!
2*0371
370|
5*997|

I
I

I
I

t
I

I
I

14*9521

14*8791
»

14*884|

13*9501

I
I
lt918|

I
7581
-61|
130|
281
411
1*0231

I
(2)

I

I
1*823|

I
1*0131
161
73 f
-331
71
7471

(2?

I
I
I

I
I
-800|

I
-149S
-116|
-371
-79!
211
Li

I
I
177,9751

I
I
-1*4111
«
-196|
-139|
-29|
771
-8|
-1.1161

I
I
160,8241

187*766
56*037
3*114
5*061
25*590
4*906
93*058
170*616
17*150 (3)
(4)
(4)
(4)
(4)
(4)
(4)

(21

NOTE: CONSUMER INSTALMENT CREDIT CONSISTS OF SHORT- AND INTERMEDIATE-TERM CREDIT
EXTENDED THROUGH REGULAR BUSINESS CHANNELS TO FINANCE THE PURCHASE OF GOODS
AND SERVICES FOR PERSONAL CONSUMPTION* OR TO REFINANCE DEBTS INCURRED FOR
SUCH PURPOSES, AND SCHEDULED TO BE REPAID IN TWO OR MORE INSTALMENTS.
MORTGAGE CREDIT GENERALLY IS EXCLUDED. DETAILS MAY NOT ADD TO TOTALS DUE TO
ROUNDING.
(1)
BANK CHECK CREDIT ANO OTHER BANK REVOLVING CREDIT.
(2)
NOT APPLICABLE.
(3)
A VALUE FOR THE UNADJUSTED NET CHANGE IN OUTSTANDINGS APPEARS ALSO ON THE NEXT
TO LAST COLUMN ON THE NEXT PAGE, BUT MAY VARY SLIGHTLY, DUE TO DIFFERENT
AGGREGATION METHODS.
(4)
FOR VALUES SEE THE NEXT TO LAST COLUMN OK THE NEXT PAGE UNDER THE HEADING
"CHANGE FROM END OF JANUARY 1976 AMOUNT N.S.A."



CONSUMER INSTALMENT CREDIT BY HOLDER AND TYPE -

JAN.

1977

( I N MILLIONS OF DOLLARS)

L I

E X T E N D E D

Q U

I D A T E D

INSTALMENT CREDIT, BY
JAN.
1977
S.A.

HOLDER AND TYPE

|

16,870

TOTAL

DEC.
1976
S.A.

1

16.702

JAN.
1976
S.A.
15,132

JAN.
1977
S.A.

JAN.
1
1977
I
N.S.A. 1
14,0851

|
|
|

DEC*
1976
S.A.

JAN.
1976
S.A.

14,9521

1 4 , 8 79

14,029

I1
1
|
JAN.
I1
|
1977
|1
1 N.S.A* 1 1
1

NET ! 1 0 U T S T A N D I N G
CHb |
J A N . I 1 END OF CHANGE F•ROM ENL
19771 1 J A N .
OF JAh1 . 1976
S . A * | 1 1977
PER
AMOUNT
(1) i I N.S.A.
CENT
N.S.A.

1 4 , 8 8 4 1 1 19181 1 1 7 7 , 9 7 5

17,1511

10.7

BY HOLDER
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS
(2)
OTHERS
(3)

7.546
3,4311
2.683 1
2.775
436

8.182
3.157
2.688
2.480
194

6,870
2,975
2,253 1
2,578
456

6,6571
2,6931
2,1011
2,289| 1
3451

6,9811
2,949|
2,2671
2,526!
2281

7,269
2,793
2,151
2,416
249

6,741 1
2,827
1,866
2,393
202

6,984f 1
2,670| 1
2.2371 1
2,7741 1
219| 1

5651 1
481| I
416| I
249| I
207| I

85,051
39.665
30**10
18.693
4,156

6,756
3,137|
5,160|
1,560|
536

8.6
8.6
20.4,
9.1
14.8

4,940

5.263

4,505

3,8821

4,1831

4,250

3,966

4,030| 1

758| 1

60,349

7,517

14.2

2,892
1.544
1.349
964
974
110

3,170
1,723 I
1,446 1
992
1,051
51

2,446
1,356
1,091
896
1,068
95

2,3531
1,2491
1.1031
7371
7301
62}

2,4741
1,3841
1,090|
866|
800|
43|

2,517
1,393
1,124
846
843
43

2,402
1,329
1,073
658
865
41

2,3811
1,3261
1,0561
8231
784|
421

1
1
1
1
1
1

418| 1
160| 1
258| 1
991 1
1741 1
66| 1

35,284
19,566
15,719
12,973 1
11,579|
513

3,979
1,339
2.641
1.470
1.967
101

12.7
7.3
20.2
12.8
20.5
24.5

234

273
91

2221 1
621 1

--43» 1
-181 1

8,146
3.246

-459
-163

-5.3
*-4.8

331

3541 1

1301 1

8.736

760

9.5

207

217| 1

36| 1

5,340

412

8.4

BY CREDIT TYPE
AUTOMOBILE, TOTAL
COMMERCIAL BANKS
INDIRECT PAPER
DIRECT LOANS
FINANCE COMPANIES
CREDIT UNIONS
OTHERS
(31

I

MOBILE HOME
COMMERCIAL BANKS
FINANCE COMPANIES
HONE IMPROVEMENT. TC1TAL
COMMERCIAL BANKS

195
50

267
53

211
61

1351 !
331

2381
671

494

461

440

3171

3641

262

288

235

176|

2271

70
388
234

REVOLVING
BANK CREDIT CARD
BANK CHECK CREDIT
1

ALL OTHER, TOTAL
COMM. BANKS, TOTAI
PERSONAL LOANS
FINANCE C O S . , TOT/IL
PERSONAL LOANS
CREDIT UNIONS
RETAILERS
OTHERS

1
1
[
1
1

2.117
A 52

2,217 1
426

8.612

8,015

1.618
1.213
2,413 1
1,787
1.656 1
2.775
151I

1,815
1,317 1
2,108 1
1,688 1
1,582 1
2,480 t
30 1

1,921
361

2,1461
4451 1

2,0891
4211

2,250
419

1,815
372

2,2251 1
4241 1

28| 1
411 1

10.996
3.031

1,420 1
228

14.8
6.1

7,633

7,127|

7,5901

7,268

7,181 1

7 , 5 6 8 1 1 10231 1

83.469

7*848

10.4

1,697
1,184
2,014
1,643
1,141
2,578 1
204

1,4021
1,056|
1,9201
1,3741
1,3381
2,2891
1781

1,5331
1,1111
2,0121
1,6081
1,4291
2,5261
90|

1,615
1,169
1,872
1,5751
1,2681
2,4161
96

1,673
1,143
2,073
1,650
968
2,393
75

22.254
15.5691
23*319
19.002
17,9151
18,6931
1,288

1.178
979
1.854 !
1,479)
3.037
1,560
219|

5.6
6.7
8.6
8.4
20.4
9.1
20.5

1
!
1
1

1,5161 1
1,093| 1
1.7791 i
1.4151 t
1.4161 1
2.774| 1
831 1
-

tl)
12)
13)




'

'

851 1
101| 1
4011 1
178| 1
227| 1
2491 1
60| 1
'

™

L

i in

NET CHANGES FOR ALL MONTHS EC>UAL EXTEI4SI0NS MPIUS L I Q U I D /^TIONS (REPAYMENTSi, CHARGEOFFS, AND OTHER C R E D I T S ) .
EXCLUDES 30-OAY CHAFIGE CREDI1r HELD BY RETAILER!>, OIL AND GAS COMPANIES, ANC> TRAVEL AND ENTERTAINMENT COMPANIES
AMOUNTING TO $ 2 3 0 9 MILLION AT THE END OF JANUARY. THIS REPRESENTS AN INCREASE OF $ 1 0 MILLION FROM THE END OF
DECEMBER ON A SEASONALLY ADJUSTED BASIS AND AN INCREASE OF $15 MILLION ON AN UNADJUSTED B A S I S .
MUTUAL SAVINGS BANKS. SAVINGS AND LOAN ASSOCIATIONS, AND AUTO DEALERS.
NOTE:

S.A.

AND N . S . A . DENOTE SEASONALLY ADJUSTED AND NOT SEASONALLY ADJUSTED DATA, RESPECTIVELY.

l

L