Full text of G.19 Consumer Credit : March 7, 1990
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igussfc.. FEDERAL RESERVE statistical release For immediate release March 7, 1990 G.19 CONSUMER INSTALLMENT CREDIT Consumer installment credit outstanding rose $3.5 billion in January, following a $4.3 billion increase in December. Automobile credit expanded in January after posting virtually no change in December. Revolving credit growth, which has been volatile, slowed sharply in January. "Other1' loans outstanding advanced more in January than in December, while mobile home credit continued to contract. Net change in amount outstanding (millions of dollars) — 1990— 1989 Jan p Dec r Nov Annual rate of growth (percent) 1990 1989 — Jan p Dec r Nov CHANGE IN CREDIT, BY TYPE 1/ (seasonally adjusted) otal Automobile Revolving Mobile home Other 3,543 1,864 4,347 4,598 7.3 -89 453 243 -18 3,935 2,861 -380 1,664 -0.4 23.7 -0.5 1,453 -9 510 17.5 -19.9 10.0 3.0 -1989Nov 1990 Feb 7.8 1.9 Dec Jan Feb TERMS OF CREDIT 2/ (not seasonally adjusted) Interest rates Commercial banks 48-mo. new car loan 24-mo. personal loan 120-mo. mobile home loan Credit card plan Auto finance companies New car loan Used car loan Other terms at auto finance companies Maturity (months) New car loan Used car loan Loan-to-value ratio (percent) New car loan Used car loan Amount financed (dollars) New car loan Used car loan 11.80 15.27 13.91 18.12 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 11.94 15.42 13.97 18.07 11.76 15.22 14.00 17.83 n.a. n .a. 12.64 15.77 13.27 16.10 13.27 16.09 13.07 15.90 n.a. n.a. 54.7 45.5 55.1 45.5 55.1 45.6 55.7 47.4 n.a. n.a. 89 95 89 96 89 96 92 98 n.a. n.a. 12,381 8,040 12,301 8,096 12,279 8,063 11,819 8,022 CONSUMER INSTALLMENT CREDIT, BY HOLDER AND TYPE 1/ Millions of dollars Jan p 1990 S.A. Total 720,051 Dec r 1989 S.A. Nov 1989 S.A. Oct 1989 S.A. 716,508 712,160 707,562 Sep 1989 S.A. Jan 1989 S.A. 704,371 682,020 Jan p 1990 N.S.A. Jan 1989 N.S.A 723,137 684,674 Major holder Commercial banks Finance companies 3/ Credit unions Savings institutions Retailers Gasoline companies Pools of securitized assets 4/ 337,009 334,541 332,675 330,746 327,327 316,797 338,710 318,287 141,481 140,484 141,396 141,273 144,188 141,795 141,013 141,194 90,367 89,717 89,677 89,856 89,892 87,093 90,250 86,980 57,229 57,285 58,264 58,890 59,883 62,867 57,160 62,792 42,724 42,744 42,554 42,319 42,221 40,986 44,623 42,804 3,811 3,835 3,828 3,804 3,886 3,655 3,952 3,790 47,429 47,902 43,766 40,675 36,974 28,827 47,429 28,827 Automobile Commercial banks Finance companies Credit unions Savings institutions Pools of sec. assets 4/ 290,975 128,662 83,836 43,094 17,193 18,189 289,111 127,028 83,572 42,784 17,210 18,517 289,200 128,654 84,707 42,720 17,504 15,615 288,747 128,238 84,814 42,761 17,692 15,243 287,754 126,759 88,317 42,733 17,990 11,955 286,382 122,160 87,968 41,707 19,506 15,042 n.a. 128,212 82,831 n.a. n.a. 18,189 n.a. 121,732 86,913 n.a. n.a. 15,042 Revolving 6/ Commercial banks Savings institutions Retailers Gasoline companies Credit unions Pools of sec. assets 4/ 203,418 122,624 10,688 37,810 3,811 5,435 23,050 203,175 122,364 10,698 37,804 3,835 5,396 23,077 199,240 119,254 10,881 37,639 3,828 5,351 22,286 196,379 118,801 10,998 37,435 3,804 5,319 20,021 195,302 117,868 11,183 37,355 3,886 5,279 19,731 176,716 111,133 10,479 36,176 3,655 4,785 10,489 n.a. 125,273 39,621 3,952 n.a. 23,050 n.a. 113,533 n.a. 37,909 3,790 n.a. 10,489 22,541 8,978 4,877 8,685 22,558 9,019 4,846 8,694 22,567 8,941 4,783 8,843 22,947 8,724 5,272 8,951 22,991 8,788 5,087 9,116 26,036 8,974 7,376 9,687 n.a. 8,949 4,848 n.a. n.a. 8,945 7,331 n.a. 203,117 76,744 52,768 41,838 20,663 4,915 201,664 76,131 52,066 41,537 20,683 4,940 201,154 75,826 51,906 41,606 21,036 4,914 199,490 74,983 51,187 41,776 21,249 4,884 198,324 73,912 50,784 41,880 21,593 4,866 192,886 74,532 46,451 40,601 23,196 4,809 n.a. 76,276 53,334 n.a. n.a. 5,002 n.a. 74,077 46,950 n.a. n.a. 4,895 6,190 6,308 5,865 5,411 5,288 3,296 6,190 3,296 Major credit type 5/ Mobile homes Commercial banks Finance companies Savings institutions Other Commercial banks Finance companies Credit unions Savings institutions Retailers Pools of sec. assets (incl. mobile homes) 4/ n.a. 1. 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. 2. Interest rates are annual percentage rates as specified by Regulation Z. Commercial bank data are simple unweighted averages of each bank's "most common*1 rate charged during the first calendar week of the month. 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. 3. More detail for finance companies is available in the G.20 Statistical Release, Finance Companies. 4. Outstanding balances of pools upon which securities have been issued} these balances are no longer carried on the balance sheets of the loan originator. 5. 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. 6. Excludes 30-day charge credit held by travel and entertainment companies. n.a.= Data not available. S.A.= Seasonally adjusted, r = revised. p = preliminary. N.S.A.= Not seasonally adjusted. The G.19 Statistical Release is issued around the fifth working day of each month. The exact date and time may be obtained by calling (202) 452-3206.