Full text of G.19 Consumer Credit : March 7, 1991

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FEDERAL RESERVE statistical release
••.f«m^:
For immediate release
March 7, 1991
G.19

CONSUMER INSTALLMENT CREDIT

Consumer installment credit outstanding decreased $2.44 billion in
January, following a $0.34 billion drop in December. This marks the first
back-to~back decline since December 1986 - February 1987. In January 1991,
revolving credit posted a gain after declining the previous month; seasonal
adjustment of this component is difficult for the December-January period
owing to the heavy volume of Christmas season transactions and variation
in the timing of their entry on the books of lending institutions. Auto and
"other" credit both declined in January while mobile home borrowing expanded.
Net change in
amount outstanding
(millions of dollars)
— 1991
1990—
Jan p
Dec r
Nov

Annual rate of growth
(percent)
— 1991—
1990
Jan p
Dec
Nov

CHANGE IN CREDIT, BY TYPE 1/
(seasonally adjusted)
Total
Automobile
Revolving
Mobile home
Other

-2,443
-1,953
1,267
868
-2,626

-342
853
-1,522
-702
1,029

2,762
81
1,375
27
1,279

-1991Feb

-4.0
-8.2
7.0
47.8
14.7

Jan

Dec

-0.6
3.6
-8.3
-37.4
5.8

-1990Nov

4.
0.
7.
1,
7.

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




11.60
15.42
13.88
18.28

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

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

11.62
15.69
13.99
18.23

11.80
15.27
13.91
18.12

n.a.
n.a.

12.99
15.70

12.86
16.04

12.74
16.07

12.67
15.91

n.a.
n.a.

54.9
47.4

54.7
45.8

54.6
46.0

54.7
46.4

n.a.
n.a.

88
96

85
94

85
95

88
96

n.a.
n.a.

12,229
8,600

12,140
8,530

11,986
8,494

12,053
8,065

CONSUMER INSTALLMENT CREDIT, BY HOLDER AND TYPE 1/
Millions of dollars
Jan p
1991

Dec r
1990

Nov
1990

Oct
1990

Sep
1990

Jan
1990

Dec
1989

seasonally adjusted
Total

736,572

739,357

736,595

735,222

717,829

716,624

283,383
219,502
22,684
211,002

Automobile
Revolving
Mobile home
Other

739,014
285,336
218,235
21,816
213,628

284,483
219,757
22,518
212,599

284,402
218,381
22,491
211,320

285,261
216,804
22,672
210,484

290,904
199,146
22,604
205,175

290,770
197,110
22,343
206,401

not seasonally adjusted
Total

740,420

750,941

740,346

737,252

737,260

721,026

727,561

345,070
134,739
90,287
49,117
39,828
4,748
76,631

351,695
136,154
91,203
49,594
42,111
4,747
75,437

346,128
139,195
91,174
50,310
37,470
4,701
71,368

344,875
141,329
91,406
50,787
36,047
4,718
68,090

344,941
140,890
91,311
51,358
36,682
4,723
67,355

342,266
140,740
90,452
55,425
39,959
4,013
48,171

343,865
140,832
90,875
57,228
42,638
3,935
48,188

Automobile
Commercial banks
Finance companies
Pools of securitized assets 3/

281,541
124,486
72,015
25,513

284,908
126,117
74,397
24,198

285,877
127,039
75,224
23,159

287,730
128,133
78,033
20,786

289,255
128,937
78,116
21,239

288,984
127,075
81,918
17,827

290,421
126,613
82,721
18,191

Revolving
Commercial banks
Retailers
Gasoline companies
Pools of securitized assets 3/

224,046
128,817
35,330
4,748
44,302

230,456
133,295
37,535
4,747
43,887

219,713
129,111
32,993
4,701
41,797

216,285
127,950
31,601
4,718
40,798

214,853
126,995
32,212
4,723
39,606

203,288
128,384
35,359
4,013
23,450

208,188
130,956
37,967
3,935
22,977

22,818
9,838
5,141

21,757
9,934
3,956

22,646
9,351
5,364

22,720
9,363
5,400

22,815
9,396
5,423

22,717
9,109
5,411

22,283
9,155
4,716

212,015
81,929
57,583
4,498

213,820
82,349
57,801
4,576

212> 110
80,627
58,607
4,477

210,517
79,429
57,896
4,446

210,337
79,613
57,351
4,470

206,037
77,698
53,411
4,600

206,669
77,141
53,395
4,671

6,816

7,352

6,412

6,506

6,510

6,894

7,020

Major holder
Commercial banks
Finance companies
Credit unions
Savings institutions
Retailers
Gasoline companies
Pools of securitized assets 3/
Major credit type 4/

Mobile homes
Commercial banks
Finance companies
Other
Commercial banks
Finance companies
Retailers
Pools of securitized assets
(incl. mobile homes) 3/

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" 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. Outstanding balances of pools upon which securities have been issued; these balances
are no longer carried on the balance sheets of the loan originator.
4. Type-of-credit totals include estimates for certain holders for which only consumer
credit totals are available.
r = revised.

p = preliminary.

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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