Full text of G.19 Consumer Credit : March 6, 1998

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Release Date: March 6, 1998
Release dates | Historical data
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G.19
1

CONSUMER CREDIT
January 1998

For release at 3 p.m. (Eastern Time)
March 6, 1998

Consumer credit outstanding grew at a 2-3/4 percent seasonally adjusted annual rate in January, following a 4-3/4 percent gain in
December. In January, growth of revolving credit picked up some, while that of auto credit slowed. The level of outstanding "other"
consumer credit declined further in January.

CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
--------------------------------------------------------------------------------------------------------------------------------------1997
1998
_______________________________________________________________________________________________ _______
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept. r Oct. r Nov. r Dec. r Jan. p
--------------------------------------------------------------------------------------------------------------------------------------Percent change at annual rate 2
Total
10.0
5.7
1.9
9.0
3.3
2.2
4.3
6.1
2.2
10.1
-4.8
4.7
2.8
Automobile
3.3
1.2
-3.6
11.9
2.7
7.1
10.3
-0.3
9.1
12.4
-5.2
19.6
6.8
Revolving
14.7
9.4
0.5
6.9
4.6
4.2
9.4
8.0
6.2
10.0
-2.1
2.3
6.1
Other 3
11.1
5.3
11.9
8.6
1.9
-7.9
-12.9
11.4
-14.3
7.2
-9.2
-12.0
-9.2
Amount: billions of dollars
Total
1,189.7 1,195.4 1,197.3 1,206.2 1,209.5 1,211.7 1,216.1 1,222.2 1,224.5 1,234.8 1,229.8 1,234.6 1,237.5
Automobile
393.4
393.8
392.6
396.5
397.5
399.8
403.2
403.2
406.2
410.4
408.6
415.3
417.7
Revolving
505.3
509.3
509.5
512.4
514.3
516.2
520.2
523.7
526.4
530.7
529.8
530.8
533.5
Other 3
291.0
292.3
295.2
297.3
297.7
295.8
292.6
295.4
291.9
293.6
291.4
288.4
286.2
--------------------------------------------------------------------------------------------------------------------------------------TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES 4
Percent except as noted: not seasonally adjusted
--------------------------------------------------------------------------------------------------------------------------------------Institution, terms, and type of loan
--------------------------------------------------------------------------------------------------------------------------------------Commercial banks
Interest rates
48-mo. new car
n.a.
8.92
n.a.
n.a.
9.20
n.a.
n.a.
8.99
n.a.
n.a.
8.96
n.a.
n.a.
24-mo. personal
n.a.
13.46
n.a.
n.a.
13.81
n.a.
n.a.
13.84
n.a.
n.a.
14.50
n.a.
n.a.
Credit card plan
All accounts
n.a.
15.88
n.a.
n.a.
15.75
n.a.
n.a.
15.78
n.a.
n.a.
15.65
n.a.
n.a.
Accounts assessed interest
n.a.
15.13
n.a.
n.a.
15.72
n.a.
n.a.
15.79
n.a.
n.a.
15.57
n.a.
n.a.
New car loans at auto finance companies
Interest rates
7.17
7.44
8.08
8.56
7.80
7.64
6.71
5.93
6.12
7.27
6.85
5.93
6.12
Maturity (months)
55.1
54.6
53.5
52.8
53.2
53.3
54.6
55.5
55.4
54.4
53.7
53.5
52.8
Loan-to-value ratio
92
92
90
91
93
93
94
93
93
92
91
92
92
Amount financed (dollars)
17,090 16,837 17,198 17,620 18,060 18,171 18,281 18,329 18,520 18,779 18,923 19,121 18,944
--------------------------------------------------------------------------------------------------------------------------------------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.
Footnotes appear on reverse.

1
CONSUMER CREDIT OUTSTANDING
(Billions of dollars)
Not seasonally adjusted
--------------------------------------------------------------------------------------------------------------------------------------1997
1998
_______________________________________________________________________________________________ _______

Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept. r Oct. r Nov. r Dec. r Jan. p
--------------------------------------------------------------------------------------------------------------------------------------Total

1,199.6 1,190.5 1,186.4 1,195.6 1,199.3 1,205.0 1,209.2 1,220.6 1,227.3 1,234.3 1,237.4 1,268.1 1,247.5

Major holders
Commercial banks
Finance companies
Credit unions
Savings institutions
Nonfinancial business
Pools of securitized assets 5

521.4
153.5
144.2
45.1
73.6
261.8

512.9
153.3
143.4
45.5
70.6
264.8

504.3
153.8
143.9
45.9
70.0
268.5

510.3
152.7
145.6
46.1
69.3
271.6

511.6
154.9
146.7
46.3
67.7
272.1

510.7
156.7
147.6
46.5
68.0
275.6

514.5
156.4
149.0
47.2
67.6
274.6

516.2
157.2
149.8
47.8
68.6
281.0

507.5
158.4
150.7
48.5
68.7
293.5

507.2
156.9
151.5
48.0
68.5
302.2

508.3
156.4
151.8
47.6
70.5
302.9

515.2
160.0
153.7
47.2
78.9
313.1

501.1
160.2
152.2
46.7
74.6
312.8

Major types of credit 6
Automobile
Commercial banks
Finance companies
Pools of securitized assets 5

391.8
156.1
86.8
48.8

389.8
155.0
87.1
47.5

388.9
153.7
85.8
48.7

391.9
154.2
83.2
52.8

393.8
155.2
85.1
50.8

399.6
156.0
87.0
53.0

403.7
157.8
88.3
52.7

405.7
158.5
88.4
52.4

409.8
157.2
88.5
56.0

415.0
157.9
86.8
60.6

412.9
156.2
86.0
60.4

418.9
155.3
87.0
65.0

415.9
153.9
87.4
63.1

Revolving
Commercial banks
Finance companies
Nonfinancial business
Pools of securitized assets 5

513.5
223.2
32.3
41.9
187.9

508.6
215.8
32.2
39.8
192.3

503.8
207.3
34.1
39.4
194.5

505.8
209.3
35.1
39.0
193.8

509.6
212.8
35.2
37.1
195.8

511.4
213.3
34.9
37.3
196.8

515.1
219.0
33.5
36.8
196.5

520.8
217.5
33.5
37.6
202.4

524.3
209.3
34.9
37.7
212.4

527.5
209.5
34.7
37.5
215.7

532.9
212.7
34.8
38.9
216.4

555.9
219.8
38.6
45.0
221.5

542.1
208.5
37.6
41.9
223.4

Other
294.3
292.0
293.7
297.8
295.9
294.0
290.4
294.1
293.2
291.9
291.6
293.3
289.5
Commercial banks
142.1
142.2
143.3
146.8
143.6
141.4
137.7
140.2
141.0
139.8
139.3
140.1
138.7
Finance companies
34.4
34.0
34.0
34.3
34.7
34.8
34.7
35.2
35.0
35.3
35.5
34.4
35.2
Nonfinancial business
31.7
30.8
30.5
30.4
30.7
30.7
30.8
31.1
31.0
31.1
31.6
34.0
32.7
Pools of securitized assets 5
25.1
24.9
25.3
24.9
25.5
25.8
25.4
26.1
25.1
25.8
26.1
26.6
26.3
--------------------------------------------------------------------------------------------------------------------------------------1. Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate.
2. Percent changes calculated from unrounded data.
3. Comprises mobile home loans and all other loans not included in automobile or revolving credit, such as loans for education, boats,
trailers, or vacations. These loans may be secured or unsecured.
4. 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.
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.

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Last update: March 6, 1998