Full text of G.19 Consumer Credit : March 7, 2012
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G.19 CONSUMER CREDIT For release at 3 p.m. (Eastern Time) January 2012 March 7, 2012 Consumer credit increased at an annual rate of 8-1/2 percent in January. Revolving credit decreased at an annual rate of 4-1/2 percent, while nonrevolving credit increased at an annual rate of 14-3/4 percent. CONSUMER CREDIT OUTSTANDING1 Seasonally adjusted 2010 Total percent change (annual rate)2 Revolving Nonrevolving3 Total amount (billions of dollars) Revolving Nonrevolving3 2007 2008 2009 2010 5.8 8.1 4.4 1.6 1.7 1.5 -4.4 -9.6 -1.2 -1.7 -7.5 1.5 2,522.5 941.9 1,580.7 2,561.8 957.5 1,604.3 2,450.1 865.5 1,584.6 2011 r 2011 Q2 r Q3 r r 2012 p Jan 9.8 9.9 9.7 7.9 5.5 9.0 8.6 -4.4 14.7 2,494.5 803.8 1,690.7 2,478.2 800.1 1,678.1 2,494.5 803.8 1,690.7 2,512.3 800.9 1,711.4 Q4 r Q4 Q1 3.6 0.4 5.1 2.5 -2.6 5.0 2.2 -3.7 5.1 3.6 1.5 4.6 1.4 -2.0 3.0 6.9 6.0 7.4 2,408.3 800.2 1,608.1 2,494.5 803.8 1,690.7 2,408.3 800.2 1,608.1 2,421.5 792.8 1,628.6 2,443.3 795.9 1,647.4 2,451.9 792.0 1,659.9 Nov r Dec TERMS OF CREDIT4 Not seasonally adjusted. Percent except as noted. Commercial banks Interest rates 48-mo. new car 24-mo. personal Credit card plans All accounts Accounts assessed interest Finance companies5 Interest rates Maturity (months) Loan-to-value ratio Amount financed (dollars) 7.77 12.38 7.02 11.37 6.72 11.10 6.21 10.87 5.75 10.92 5.87 10.94 5.86 11.01 5.79 11.36 5.90 10.80 5.45 10.52 5.45 10.52 n.a. n.a. n.a. n.a. 13.30 14.68 12.08 13.57 13.40 14.31 13.78 14.26 12.74 13.09 13.44 13.67 13.43 13.44 12.89 13.06 12.28 13.08 12.36 12.78 12.36 12.78 n.a. n.a. n.a. n.a. 4.87 62.0 95 28,287 5.52 63.4 91 26,178 3.82 62.0 90 28,272 4.26 63.0 86 27,959 4.73 62.3 80 26,673 4.57 62.5 82 27,423 4.73 62.3 80 26,673 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. This release is generally issued on the fifth business day of each month. See the Statistical Release Schedule for more information. Footnotes appear on reverse. CONSUMER CREDIT OUTSTANDING (Billions of dollars) Not seasonally adjusted 2010 2007 Total 2008 2009 2010 2011 r Q4 Q1 Q2 r 2011 r r Q3 Q4 Nov r Dec r 2012 p Jan 2,555.3 2,594.1 2,478.9 2,434.7 2,521.0 2,434.7 2,401.9 2,424.3 2,466.7 2,521.0 2,490.8 2,521.0 2,535.6 Major holders Commercial banks Finance companies Credit unions Federal government6 Savings institutions Nonfinancial business Pools of securitized assets7,8 804.1 584.1 235.7 98.4 90.8 58.6 683.7 878.6 575.8 236.2 111.0 86.3 59.8 646.4 855.3 1,098.7 1,100.6 1,098.7 1,058.9 1,072.3 1,073.8 1,100.6 1,082.4 1,100.6 1,089.0 487.8 518.6 506.3 518.6 509.8 501.8 504.3 506.3 502.5 506.3 505.0 237.2 226.5 223.0 226.5 218.1 220.9 223.9 223.0 225.1 223.0 225.4 186.0 316.4 425.1 316.4 355.2 370.1 406.1 425.1 416.3 425.1 453.0 77.5 86.8 92.0 86.8 84.7 87.4 89.3 92.0 91.1 92.0 92.1 57.2 56.0 57.0 56.0 52.8 53.1 53.1 57.0 54.1 57.0 55.4 577.9 131.7 116.9 131.7 122.4 118.7 116.1 116.9 119.3 116.9 115.8 Major types of credit Revolving Commercial banks Finance companies Credit unions Federal government6 Savings institutions Nonfinancial business Pools of securitized assets7,8 973.2 353.4 86.0 31.1 ... 44.8 7.9 450.0 989.1 390.6 74.4 33.4 ... 39.6 8.7 442.4 894.0 362.4 46.4 35.4 ... 38.1 8.8 402.8 Nonrevolving Commercial banks Finance companies Credit unions Federal government6 Savings institutions Nonfinancial business Pools of securitized assets7,8 826.7 615.1 71.9 36.3 ... 49.6 8.8 44.9 830.4 608.1 78.1 37.9 ... 55.8 8.8 41.6 826.7 615.1 71.9 36.3 ... 49.6 8.8 44.9 779.6 577.0 69.0 35.0 ... 47.9 8.1 42.5 787.3 581.9 70.0 35.8 ... 50.8 8.2 40.7 793.4 583.9 72.2 36.3 ... 52.4 8.4 40.2 830.4 608.1 78.1 37.9 ... 55.8 8.8 41.6 809.8 592.3 75.6 37.1 ... 54.7 8.5 41.6 830.4 608.1 78.1 37.9 ... 55.8 8.8 41.6 812.1 592.1 76.8 37.3 ... 55.8 8.6 41.6 1,582.1 1,605.1 1,584.9 1,608.0 1,690.6 1,608.0 1,622.3 1,636.9 1,673.3 1,690.6 1,681.0 1,690.6 1,723.5 450.7 488.1 492.9 483.6 492.5 483.6 481.9 490.5 489.9 492.5 490.1 492.5 496.9 498.0 501.3 441.3 446.7 428.2 446.7 440.8 431.8 432.1 428.2 426.8 428.2 428.2 204.6 202.8 201.7 190.1 185.1 190.1 183.1 185.1 187.6 185.1 188.1 185.1 188.2 98.4 111.0 186.0 316.4 425.1 316.4 355.2 370.1 406.1 425.1 416.3 425.1 453.0 46.0 46.8 39.5 37.2 36.2 37.2 36.9 36.7 36.9 36.2 36.4 36.2 36.4 50.7 51.1 48.4 47.2 48.2 47.2 44.6 44.8 44.7 48.2 45.5 48.2 46.8 233.6 204.0 175.1 86.8 75.3 86.8 79.9 78.0 75.9 75.3 77.7 75.3 74.1 Footnotes 1. Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate. 2. The series for consumer credit outstanding and its components may contain breaks that result from discontinuities in source data. Percent changes are adjusted to exclude the effect of such breaks. In addition percent changes are at a simple annual rate and are calculated from unrounded data. 3. Includes automobile loans and all other loans not included in revolving credit, such as loans for mobile homes, 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). 5. The statistical foundation for these series has deteriorated in the past few months. Therefore, publication of these series is temporarily being suspended. The statistical foundation is in the process of being improved, and publication will resume as soon as possible. 6. Data for the Student Loan Marketing Association (Sallie Mae) are included in the Federal government sector until the completion of Sallie Mae’s privatization in 2004:Q4 and in the Finance companies sector thereafter. 7. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators. 8. The shift of consumer credit from pools of securitized assets to other categories is largely due to financial institutions’ implementation of the FAS 166/167 accounting rules. r=revised. p=preliminary. n.a.=not available. ...=not applicable.