Full text of G.19 Consumer Credit : March 7, 1994
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of cow FEDERAL RESERVE statistical release This release is issued around the fifth business day of each month. The exact date and time may be obtained by calling (202) 4^2-3206 •r**t .'ML ?^:-- RE' For release at 4 p.m. (Eastern Time) March 7, 1994 G. 19 CONSUMER INSTALLMENT CREDIT January 1994 Consumer installment credit increased $6 billion in January, following a $7.5 billion rise in December. Growth in auto loans and "other" loans slowed from the December pace, while growth in revolving credit strengthened. MONTHLY CHANGE IN CREDIT OUTSTANDING1 Seasonally adjusted Amount Type of credit (millions of dollars) 1993 Nov. Dec. r 6,940 7,521 Total 3,031 1,467 Automobile Revolving 2,148 2,201 1,761 3,853 Other2 1994 Jan. P 6,004 636 3,328 2,040 Nov. 10.7 13.3 9.3 9.4 Annual rate (percent) 1993 Dec. r 11.5 6.4 9.5 20.4 1994 Jan.P 9.1 2.7 14.2 10.6 TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES3 Percent except as noted, not seasonally adjusted 1993 Institution, terms, and type of loan Jan. Feb. Aug. Nov. Jan. Feb. Commercial banks Interest rates 48-mo. new car loan 24-mo. personal loan 120-mo. mobile home loan Credit card plan Auto finance companies Interest rates New car Used car Maturity (months) New car Used car Loan-to-value ratio New car Used car Amount financed (dollars) New car Used car Notes appear on reverse. 1994 n.a. n.a. n.a. n.a. 8.57 13.57 12.38 17.26 7.98 13.45 11.53 16.59 7.63 13.22 11.55 16.30 n.a. n.a. n.a. n.a. 7.54 12.89 11.56 16.06 10.08 13.72 10.32 13.90 9.21 12.48 8.96 12.41 7.55 12.02 n.a. n.a. 53.9 49.2 54.3 49.0 54.9 49.0 54.5 48.4 52.9 50.0 n.a. n.a. 90 97 91 98 91 99 91 98 91 98 n.a. n.a. 13,975 9,472 13,849 9,457 14,324 10,104 14,839 10,230 15,330 10,434 n.a. n.a. CONSUMER INSTALLMENT CREDIT OUTSTANDING (Millions of dollars) 1993 Type of credit and holder Jan.. Feb. Mar. Apr. May June 1994 July Aug. Sept. Oct. Nov. Dec.r Jan. P 796086 Seasonally adjusted Total Automobile Revolving Other2 743583 747228 750131 752193 750293 752428 757465 762503 768573 775620 782561 790082 258737 261434 262313 262463 264007 265388 267468 268784 270650 273822 276853 278321 278956 255984 258384 259661 261450 262690 263338 266938 270753 273703 277125 279273 281474 284802 228862 227410 228157 228280 223596 223701 223058 222967 224220 224673 226435 230288 232328 Not seasonally adjusted Total Major holders Commercial banks Finance companies Credit unions Savings institutions Retailers Gasoline companies Pools of securitized assets4 Major types of credit5 Automobile Commercial banks Finance companies Pools of securitized assets4 Revolving Commercial banks Retailers Gasoline companies Pools of securitized assets4 Other Commercial banks Finance companies Retailers Pools of securitized assets4 748529 745374 743133 746447 744778 748830 753645 763268 770384 776101 784148 807298 801509 330355 330060 329764 332266 333415 335592 339948 345449 349699 352559 358429 367140 355233 116009 112686 111854 112523 109311 111330 113076 111864 112645 112602 114800 117464 117937 98262 98785 99778 101534 103019 104781 106027 108095 109687 110830 112342 114451 115055 42804 41975 41695 40275 39210 37250 36485 35919 34985 34251 33500 33000 32500 40057 38462 38030 38218 38681 38813 39043 39688 39842 40310 42047 47382 44986 4366 4148 4080 4280 4486 4567 4668 4728 4574 4599 4507 4212 4189 116676 119258 117932 117351 116656 116497 114398 117525 118952 120950 118523 123649 121509 258017 259830 259945 260857 262860 265345 267646 270495 273291 275882 277060 278690 278175 109671 111005 111287 111121 112700 114901 116729 118535 120574 122162 122989 123734 123826 57165 54036 53508 53977 53878 55592 56817 55247 55057 54324 55337 55274 56509 32388 36031 36085 36262 36431 34701 33673 35569 36123 37630 36569 36781 34947 260758 257440 256233 257783 259566 260993 264100 269663 272579 275109 280080 296445 290099 129567 127877 128079 129550 130871 129921 132984 135466 136738 137844 142382 148698 144776 34666 33110 32681 32838 33254 33328 33505 34099 34214 34668 36319 41378 39057 4366 4148 4080 4280 4486 4567 4668 4728 4574 4599 4507 4212 4189 71927 72024 70890 69919 69054 70842 69935 71562 72646 73556 72357 77416 77280 229754 228105 226955 227807 222352 222491 221899 223109 224514 225110 227008 232162 233234 91117 91178 90398 91595 89844 90770 90235 91448 92387 92553 93058 94708 96631 55433 55737 56259 56616 57588 58278 59463 62189 61427 58844 58651 58346 58546 5391 5352 5349 5380 5427 5485 5538 5589 5628 5642 5728 6004 5929 12361 11202 10957 11170 11171 10954 10790 10394 10183 9764 9597 9452 9382 1. 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. Comprises mobile home loans and all other installment loans not included in automobile or revolving credit, such as loans for education, boats, trailers, or vacations. These loans may be secured or unsecured. 3. Interest rates arc annual percentage rates as specified by the Federal Reserve's Regulation Z. Interest rates 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. 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. 4. Outstanding balances of pools upon which securities have been issued; these balances are no longer earned on the balance sheets of the loan originators. 5. Includes estimates for holders that do not separately report consumer credit holding by type, r = revised, p = preliminary.
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