Full text of G.19 Consumer Credit : March 8, 1978

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.••feSJSsi-

FEDERAL

RESERVE

statistical

release

*-.f«£v
FOR IMMEDIATE RELEASE
MARCH 8» 1978

G.19

CONSUMER INSTALMENT CREDIT - JANUARY 1978
CONSUMER INSTALMENT CREDIT OUTSTANDING EXPANDED IN JANUARY BY $2.42 BILLION,
SEASONALLY ADJUSTED, DOWN FROM $2.74 BILLION (REVISED) THE MONTH BEFORE. THE JANUARY
RATE WAS SOMEWHAT BELOW THE MONTHLY AVERAGE OF $2.61 BILLION IN THE LAST HALF OF 1977.
CREDIT NEWLY EXTENDED DROPPED TO $19.59 BILLION IN JANUARY—A MONTH OF
EXCEPTIONALY ADVERSE WEATHER—FROM $20.14 BILLION IN DECEMBER. LIQUIDATIONS EXPERIENCED
A SMALLER DECLINE—TO $17.16 BILLION FROM $17.40 BILLION—RESULTING IN THE SLACKENING
PACE OF INSTALMENT CREDIT GROWTH.
THE DECLINES IN EXTENSIONS AND LIQUIDATIONS DURING JANUARY WERE CONCENTRATED
IN AUTOMOBILE CREDIT, WHERE THE NET CHANGE IN OUTSTANDINGS FELL TO $1.19 BILLION FROM
DECEMBER'S $1.30 BILLION. EXTENSIONS OF BANK-CARD CREDIT EDGED OFF SOMEWHAT WHILE
LIQUIDATIONS ROSE, AND THE NET CHANGE DECLINED FAIRLY SHARPLY. THE OTHER CREDIT
CATEGORIES ALSO SHOWED SLOWER GROWTH.
A SLIGHT REVISION IN DECEMBER DATA FOR EACH CREDIT TYPE AT FINANCE COMPANIES,
IS REFLECTED IN THE TABLES BELOW.
(IN MILLIONS OF DOLLARS)
INSTALMENT CREDIT, TOTAL
AMOUNT EXTENDED:
AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK CREDIT CARD
OTHER REVOLVING (1)
ALL OTHER
AMOUNT LIQUIDATED

JAN. 1976 | DEC. 1977 I JAN. 1978 | JAN. 1977 |LATEST 12 MONTHS
(SEASONALLY ADJ.)
I
(NOT SEAS.ADJ.)
|(NOT SEAS.ADJ.)
19,5861

AMOUNT OUTSTANDING,
END OF MONTH

R

6,7211
R 460|
* 722 |
2,973f
531|
R 8,730j

6,2631
449|
618|
2,948|
5561
8,7511

I
I
17,1621

I
I

NET CHANGE IN AMOUNT
OUTSTANDING:
AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK CREDIT CARD
OTHER REVOLVING (1)
ALL OTHER

R 20,138|

I

1
I
R

17,402!
!
!
R 2,7361

2,424|

i

i

R 1,297!

ltl85|
521
1051
1601
65f
857 j

(2)

I
i
I

R 761

R 173!
250|
46!
R 895!

I
I
(2)

|

16,718!

!
5,031!
329!
452|
3,121!
563!
7,223!

I
\
17,365?

!
!

-647|

8
251

14,051!
!
4,297!
272!
4101
2,207!
4541
6,412!

228,312

14,813!
!
!
-761!

197,107

!
!

«

-36!
-49!
107!
52!
-746!

-186!
-94!
-33|
-66|
25|
-4061

I
I

!
184,7281

73,621
5,301
8,108
32,676
5,995
102,612

31,204 (3)
(4)
(4)
(4)
(4)
(4)
(4)

I
(2)

215,9251
NOTES CONSUMER. INSTALMENT-CREOIT-GONSJSTS OF- SHORT- AND ~INTERME01AT£--TERM -CREDI4EXTENDED THROUGH REGULAR BUSINESS CHANNELS TO FINANCE THE PURCHASE OF GOODS
AND SERVICES FOR PERSONAL CONSUMPTION, OR TO REFINANCE DEBTS INCURRED FOR
SUCH PURPOSES, AND SCHEDULED TO BE REPAID IN TWO OR MORE INSTALMENTS.
MORTGAGE CREDIT GENERALLY IS EXCLUDED. DETAILS MAY NOT ADD TO TOTALS DUE TO
ROUNDING. R - REV1SE0 DATA.
(1)
BANK CHECK CREDIT AND OTHER BANK REVOLVING CREDIT.
(2)
NOT APPLICABLE.
(3)
A VALUE FOR THE UNADJUSTED NET CHANGE IN OUTSTANDINGS APPEARS ALSO ON THE NEXT
TO LAST COLUMN ON THE NEXT PAGE, BUT MAY VARY SLIGHTLY, DUE TO DIFFERENT
AGGREGATION METHODS.
(4)
FOR VALUES SEE THE NEXT TO LAST COLUMN ON THE NEXT PAGE UNDER THE HEADING
"CHANGE FROM END OF JANUARY 1977 AMOUNT N.S.A.*




CONSUMER INSTALMENT CREDIT BY HOLDER AND TYPE -

JAN. 1978

( I N MILLIONS OF DOLLARS)

»1

E X T E N 0 E 0
I
1
1

HOLDER AND TYPE

JAN.
1978
S.A.

|
|
|

DEC.
1977
S.A.

|
|
I

JAN.
1977
S.A.

|
JAN.
|
1978
| N.S.A.

TOTAL

1

19,5861 R 2 0 , 1 3 8 |

»
1
1
1

BY HOLDER
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS
(2)
OTHERS
(3)

1

9,625|
10,2261
3,5751 R 3,743!
2,8201
3,0931
3,1021
2,647!
464 j
426|
i

1
!
1

BY CREDIT TYPE
AUTOMOBILE, TOTAL

6,2631

1

MOBILE HOME, TOTAL

R

3,941|
2,153|
1,7881
1,143!
1,581!
551
i

R

4601

1

1
1
8,174|
3,4781
2,539|
2,6431
408!

i

1

!
1
5,511|

»
3,184|
1,7071
1,4781
999!
1,294|
331
i

372|

1

16,7181 1

»
!
!
1

8,7911 1
2,8951
2,147!
2,5131
372!
i

I

BANK CREDIT CARD
BANK CHECK CREDIT
ALL OTHER, TOTAL
COMM. BANKS, TOTAL
PERSONAL LOANS
FINANCE C O S . , TOTAL
PERSONAL LOANS
CREDIT UNIONS
RETAILERS
OTHERS

1
I

2,9481
5561

2,9731
531!

1

8,7511

R 8,730!

1
I
I
1
1
1
I

1,8931
It338|
2,3801
1,851|
1,236!
3,1021
138!

!
1
2,0961
l,518|
R 2,5301
R 1,9751
lt326!
2,647|
1311

!
!
1
2,182!
465|

1
1,8321
1,363|
2,424|
1,738!
1,0941
2,6431
146|

2 4 2 4 | 1 215 ,925

31,198

16 • 9

8,509 !
8,615
3,114
R 3,244
2,325 i
2,452
2,793
2,659
432
420

7,388
2,851
2,035 !
2,443
367

8 , 6 1 6 | 1 11151 1 105 , 4 6 6
2,9401 1
43 , 9 7 0
4601 1
36 , 8 5 1
495| I
2,3321 1
3,0701 1
20 , 5 2 5
3091 1
407| I
9 ,114
44| 1

16,073
5,180
6,441
2,147
1,357

18
13
21
11
17

13,446

20 . 4

3,106
1,667
1,439
R lt017
1,253
48

2,690
1,491
1,198
939
1,042
40

2,9261
1,5841
1,3431
8431
1,169!
481

398

R 384

248
65

3291

6371 1
407| 1
230! 1
2471 1
244| 1
56|

46 , 2 4 8
25 , 4 7 6
20 ,771
14 , 2 6 0
18 , 2 9 3
576

8,244 I
4,354 t
3,889
1,893
3,197
112

21 • 7
20 . 6
23 . 0
15 »3
21 .2
24 . 1

393

3651 1

521 I

14 , 9 7 8

499

3 •4

240
R 68

256
68

2271 1
60| 1

2|1
361 1

8 ,819
3 ,115

163
-129

1,. 9
-4 .0

514

549

463

5011 1

1051 1

12 , 9 0 4

1,948

17 . 8

257

274

236

2501 1

70| 1

6 ,, 4 4 5

928

16 . 8

2,723
485

2,176
421

3,014| 1
511! 1

I60| 1
651 1

1 4 ,, 3 6 9 !
3 ,, 7 7 6

3,084
710

27 . 3
23 .2

%836

6,921

7,969| 1

857| |

9 0 ,522

11,511

14,.6

1,610
1,148|
1,8391
1,5531
890
2,443
1391

1,6861
1,230|
2,0311
1,556|
1,027|
3,0701
153|

1801 1
81|1
1771 1
1621 1
2051 1
3091 1
-15|1

25 ,8091
1 7 ,, 7 0 8
26 , 4 5 2
21 ,248
15 , 4 4 0
20 ,525
2 ,2961

2,945
1,953
3,398
2,717
2,699
2,147
322

12..9
12 • 4
14 . 7
14,• 7
21 . 2
11 . 7
16 . 3

j|

II
222||
11

11

II
II
3,121||
563||

2,788
491i

7,223||

7,894

II
1,647||
l,199||
1,985||
1,502||
949||
2,51311
129||

1,7131
1,2581
2,203!
l,688j
1,0311
2,793
153|

k

1,7861
1,284]
R 2,152i
R 1,7221
1,075|
2,659!
1651

I
I
!
I
1
I
1

NET CHANGES FOR -ALL MONTHS EQUAL EXTENSIONS MINUS LIQUIDATIONS (RfePAYMfeNTS* CHARGEOFFS, AND OTHER C R E D I T S ) *
EXCLUDES 30-DAY CHARGE CREDIT HELD BY RETAILERS, O I L AND GAS COMPANIES, AND TRAVEL AND ENTERTAINMENT COMPANIES.
MUTUAL SAVINGS BANKS, SAVINGS AND LOAN ASSOCIATIONS, AND AUTO DEALERS.

NOTES




.0
•4
.2
.7
.5

1
1
I
1
1
I

il

1
8,139!

17,3651 I

17,402 !

3,013
1,619
1,394
841
1,177
48

452 ||

2871

15,084 1

1 7 , 1 6 2 |R

3,055!
1,6901
1,365||
8401
1,0981
39||

571!

1
»
1

JAN.
1978
N.S.A.

79 , 3 7 6

R 722!
384!

I

5,0061 1 1185! 1

618|
3271

JAN.
1977
S.A.

4,712 j

TOTALI
I

1

k 5,424

183||
66|

1

DEC.
1977
S.A.

5,078

11

224|
50|

!

!
1
1

NET | I 0 U T S T A N 0 I N G
CHG I
J A N . ! 1 END OF CHANGE FROM ENO
JAN.
OF J A N . 1977
1978! I
1978
AMOUNT
PER
S.A.I I
N.S.A.
CENT
( 1 ) 1 1 N.S . A .

i
l
5,031|

3001
60|
1

i

JAN.
1978
S.A.

I1
1
I1
11
11
1

!
!

R

REVOLVING

il)
(2)
(3)

449|

!

17,241!

2501
1011

COMMERCIAL BANKS

Q U I D A T E 1
3

1

I
|

COMMERCIAL BANKS
FINANCE COMPANIES
HOME IMPROVEMENT,

1
|

3,6501
2,026|
1,624|
1,0881
1,421|
1051

!
I

R 6,721!

( 1
| 1
| 1

1

!

COMMERCIAL BANKS
INDIRECT PAPER
DIRECT LOANS
FINANCE COMPANIES
CREDIT UNIONS
OTHERS
(3)

L I

i

INSTALMENT C R E D I T , BY

S.A. AND N.S.A. DENOTE SEASONALLY ADJUSTED AND NOT SEASONALLY ADJUSTED DATA, RESPECTIVELY.
DETAILS MAY NOT ADO TO TOTALS DUE TO ROUNDING. R - REVISEO DATA.