Full text of G.19 Consumer Credit : March 5, 1989

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FEDERAL RESERVE statistical release
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For immediate release
March 9, 1989

G.19

CONSUMER INSTALLMENT CREDIT
Consumer installment credit outstanding increased $4*36 billion in January,
following a $4.30 billion gain in December. The annual rate of growth in January at
7*9 percent, seasonally adjusted, was essentially unchanged from that of the previous
month. Automobile and revolving loans outstanding advanced at a slower pace in January
while lending for mobile homes increased after falling sharply in December. The rise in
all "other" personal borrowing also was more rapid in January.

Net change in
amount outstanding
(millions of dollars)
1989

Annual rate of growth
(percent)

1988

1989

CHANGE IN CREDIT BY TYPE
(seasonally adjusted)

Jan.p

Dec.r

Nov.

Jan.P

Total
Automobile
Revolving
Mobile home
Other

4,360
2,218
823
82
1,237

4,302
2,350
1,288
-278
944

4,663
1,366
3,190
54
52

7.9
9.2
5.3
3.8
9.0

1989
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
Other terms at
auto finance companies 3/
Maturity (months)
New-car loan
Used-car loan
Loan-to-value r a t i o (percent)
New-car loan
Used-car loan
Amount financed
(dollars)
New-car loan
Used-car loan




Feb.

1988
Dec

Nov.

7..8
9..8
8..4
-12,.9
6,.9

8.5
5.7
21.1
2.5
0.4

1988
Jan.

Dec.

Nov.

Feb.

11.76
15.22
14.00
17.83

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

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

11.22
15.06
13.61
17.77

10.72
14.46
13.45
17.80

n.a.
n.a.

13.27
15.57

13.25
15.80

13.20
15.75

12.26
14.75

n.a.
n.a.

56.2
47.8

56.3
46.0

56.2
46.2

55.9
56.8

n.a.
n.a.

94
97

94
98

94
98

94
99

n.a.
n.a.

11,956
8,006

12,068
8,022

11,975
7,991

11,447
7,619

CONSUMER INSTALLMENT CREDIT, BY HOLDER AND TYPE 4/
Millions of dollars except as noted
Net change during month
Jan.*
1989
S.A.
Total

Dec/
1988
S.A.

Jan.*'
1989
N.S.A.

Outstanding at end of month
Jan.*
1989
S.A.

Jan.'
1989
N.S .A.

Jan.
1988
N.S.A.

Change from end of
Jan. 1988
Percent

Amount

4,360

4,302

-4,549

670,551

673,600

621,579

52,021

8.4

1,471
1,663
651
854
-238
-41

2,002
1,297
111
158
726
9

-1,724
-349
-401
525
-2,716
116

320,600
145,187
86,864
69,153
45,131
3,616

322,493
144,382
86,873
69,042
47,020
3,790

286,159
140,811
81,669
64,456
44,725
3,759

36,334
3,571
5,204
4,586
2,295
31

12.7
2.5
6.4
7.1
5.1
0.8

Automobile
Commercial banks
Finance companies
Credit unions
Savings institutions

2,218
859
524
540
296

2,350
1,471
543
236
99

n.a.
417
-765
n.a.
n.a.

292,041
126,913
96,891
48,864
19,374

n.a.
126,811
95,776
n.a.
n.a.

n.a.
109,216
98,006
n.a.
n.a.

n.a.
17,595
-2,230
n.a.
n.a.

n.a.
16.1
-2.3
n.a.
n.a.

Revolving 7/
Commercial banks
Savings institutions
Retailers
Gasoline companies
Credit unions

823
342
399
-150
-41
273

1,288
226
228
613
9
211

n.a.
-2,132
n.a.
-2,522
116
n.a.

186,578
117,393
16,871
38,945
3,616
9,754

n.a.
119,893
n.a.
40,740
3,790
n.a.

n.a.
103,019
n.a.
38,798
3,759
n.a.

n.a.
16,874
n.a.
1,942
31
n.a.

n.a.
16.4
n.a.
5.0
0.8
n.a.

Mobile home
Commercial banks
Finance companies
Savings institutions

82
33
-69
118

-278
-286
-14
22

n.a.
-29
-88
n.a.

25,634
8,826
7,141
9,667

n.a.
8,785
7,118
n.a.

n.a.
9,023
7,728
n.a.

n.a.
-238
-610
n.a.

n.a.
-2.6
-7.9
n.a.

1,237
237
1,209
-162
41
-88

944
590
768
-336
-192
112

n.a.
20
504
n.a.
n.a.
-194

166,298
67,470
41,155
28,247
23,240
6,187

n.a.
67 ,004
41,488
n.a.
n.a.
6,280

n.a.
64,901
35,077
n.a.
n.a.
5,927

n.a.
2,103
6,411
n.a.
n.a.
353

n.a.
3.2
18.3
n.a.
n.a.
6.0

Major holder
Commercial banks
Finance companies 5/
Credit unions
Savings institutions
Retailers
Gasoline companies
Major credit type 6/

Other

Commercial banks
Finance companies
Credit unions
Savings institutions
Retailers

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 commmon" 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. The Board's series on amounts of credit 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. Includes outstanding balances on some
securitized consumer loans originated by financial institutions.
5. More detail for finance companies is available in the G.20 Statistical Release, Finance
Companies.
6. Not seasonally adjusted data are unavailable by type of credit for certain holders. In these
cases, the seasonally adjusted total for the holder group has been allocated among the components
using the latest available benchmark information.
7. Excludes 30-day charge credit held by travel and entertainment companies.
n.a.*8 Data not available.
S.A.« Seasonally adjusted,
r e revised.
p s preliminary.

N.S.A.* Not seasonally adjusted.

The G.19 Statistical Release is issued around the fifth working day of each month.
date and time may be obtained by calling (202) 452-3206.




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