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,^m.

FEDERAL

RESERVE

statistical
421

release

.fSn**?.

FOR IMMEDIATE RELEASE
MARCH 9, 1979

CONSUMER INSTALMENT CREDIT - JANUARY 1979
CONSUMER INSTALMENT CREDIT OUTSTANDING EXPANDED MORE SLOWLY IN JANUARY, BY
$3.1 BILLION COMPARED WITH A REVISED $4.4 BILLION IN DECEMBER* THE 13 PERCENT ANNUAL
RATE OF GROWTH IN JANUARY, A MONTH OF UNUSUALLY POOR WEATHER IN SOME AREAS, WAS THE
LOWEST SINCE OCTOBER 1978, AND COMPARED WITH 19 PERCENT GROWTH FROM DECEMBER 1977 TO
DECEMBER 1978.
THE ADDITION TO OUTSTANDING CONSUMER DEBT DURING JANUARY REFLECTED BOTH LOWER
NEW EXTENSIONS OF CREDIT AND HIGHER LIQUIDATIONS OF DEBT OUTSTANDING. EXTENSIONS OF
CREDIT DECLINED $960 MILLION TO $25.54 BILLION. LIQUIDATIONS ROSE TO A NEW HIGH OF
$22.48 BILLION, COMPARED WITH A REVISED $22.10 BILLION IN THE PRECEDING MONTH. ALL
MAJOR CATEGORIES OF CREDIT OUTSTANDING GREW BY SMALLER AMOUNTS IN JANUARY THAN IN
DECEMBER.
tIN MILLIONS OF DOLLARS)
INSTALMENT CREDIT

I JAN. 1979 1 DEC. 1978 | JAN. 1979 | JAN. 1978 lLATEST 12 MONTHS
|
(NOT SEAS. ADJ.)
KNOT SEAS . A D J . )
I
fSEASONALLY ADJ.! *

AMOUNT EXTENDED:

!

AUTOMBILE
REVOLVING 11)
MOBILE HOMES
OTHER
AMOUNT LIQUIDATED
NET CHANGE IN AMOUNT
OUTSTANDING:

1

25,544!

1

I
1
1
1

7,545|
9,417|
369|
8,2131

!
1

1
1

|

!
1

22,4831

1
1

1

3,0611

1

1

AUTOMOBILE
REVOLVING (1)
MOBILE HOMES
OTHER

I
1
1
I

1,680|
4331
401
908|

AMOUNT OUTSTANDING,
END OF MONTH

1
t
1

1
1
1

(2)

26,5001

1

7,8331
9,4241
5021
8,741|

1
1

22,1001

1
1

4,4001

1

1,7801
869|
711
1,680!
C2)

1
1
|

22,6081

1

18,7251

1

6,3011
9,083|
2831
6,941!

5,2311
7,4521
319|
5,7231

t
1

(
1

22,902!

1
1

-294|

1

422!
-535!
-381
-143!

1
1

275,346!

19,426!

1
1

-7011

1

164|
-479!
-49|
-337|

1
1

230,1261

302,903
90,177
106,256
6,065
100,405
258,248
44,655
(4)
(4)
(4)
(4)
C2)

NOTEi THE BOARD'S SERIES COVERS MOST SHORT- AND INTERMEDIATE-TERM CREDIT EXTENDED
TO INDIVIDUALS THROUGH REGULAR BUSINESS CHANNELS, USUALLY TO FINANCE THE
PURCHASE OF CONSUMER GOODS AND SERVICES OR TO REFINANCE DEBTS INCURRED FOR
SUCH PURPOSES, AND SCHEDULED TO BE REPAID (OR WITH THE OPTION OF REPAYING)
IN TWO OR MORE INSTALMENTS. DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING.
(1)
CREDIT CARDS AT RETAILERS, GASOLINE COMPANIES AND COMMERCIAL BANKS, AND
CHECK CREDIT AT COMMERCIAL BANKS.
(2)
NOT APPLICABLE OR NOT AVAILABLE.
<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 1978 AMOUNT N.S.A."
*

INCLUDES REVISIONS FOE COMMERCIAL BANKS AND RETAILERS,




(3)

CONSUMER INSTALMENT CREDIT BY HOLDER ANO TYPE -

JAN. 1979

U N MILLIONS OF DOLLARS)

E X T E N D E D
INSTALMENT CREDIT
HOLDER AND TYPE

JAN.
1979
S.A.

)
|
1

I

25,5441

!
!
1
1
1

12,1531
4,547|
3f241|
3,565)
481)
1,440|
117)

JAN.
1978
S.A.

26,500)

21,983!
)
!
!
!
10,529!
3,5731
2,919!
3,219|
329!
l,317|
97|
!
!
!
6,541!
!
4,055!
2,236!
It8l9!
1,416|
1,070)
!
7,960)
!
3,733!
2,910|
It3l7!
j
4471

12,521)
4,679!
3,5261
3,6121
516)
lt45l)
195!

J
!
1

BY MAJOR CREDIT TYPE
7,545)

AUTOMOBILE
COMMERCIAL BANKS
INDIRECT PAPER
DIRECT LOANS
CREDIT UNIONS
FINANCE COMPANIES

DEC. )
1978 |
S.A. f
*
)

I
1
I
1

HOLDER

COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS 12)
SAVINGS AND LOANS
GASOLINE COMPANIES
MUTUAL SAVINGS BANKS

1
1
1

REVOLVING

4,2861
2,3181
1,9681
1,635)
1,624)
9,417)

7,833)
!
4,443!
2,451!
It992!
It738!
1,6521
j
9,424!
i

COMMERCIAL BANKS
RETAILERS
GASOLINE COMPANIES
MOBILE

|
I

HOMES

COMMERCIAL BANKS
FINANCE COMPANIES
SAVINGS AND LOANS
CREDIT UNIONS

4,799)
3,178)
lt440)
369|

1

OTHER

235)
331
88)
13)
8,213)

COMMERCIAL BANKS
1
FINANCE COMPANIES
CREDIT UNIONS
1
RETAILERS
SAVINGS AND LOANS
MUTUAL SAVINGS BANKS 1
CI)
C2)

I 1 NET ! J 0 U T S T A N 0 I N G

L I Q U I 0 A T E D

I CHG I
!
1

TOTAL

BY MAJOR

)

BY

2,833)
2,8901
It 593)
387)
3931

H7|

4,814!
3,159!
It45l!
!
5021
!
295)
74)
Ul)
22)
!
8,7411
!
2,969!
2t953!
1,766!
453!
405!
195!

I JAN. ) I
! 1979 | !
! N.S.A. | 1
!

263)
96)
721
161
)
7,035)

22,6081 )

DEC. \
JAN.
! JAN.
! ! JAN.!| ENO OF |CHANGE FROM ENO
JAN. 1976
1978
f 1978
! 1979
! I 1979)) JAN. ! OF
1979 ! AMOUNT! PfcR
S.A.
1 N.S.A. 1 I S.A.! !
S.A. ) S.A.
*
N.S.A.!
CENT
! C D I ! N.S.A.
— ^—.,» — . «.—.,.—«.«_! — - . — M - » — . | |«.—..«.-. j j«,«.—.——.— j.......|—
22,90?! ! 3061!I 275,346 45,220! 19.7
22,4831 22,100
19,546

JAN. I
1979 )

I
!
!
1
11,540! I
3,752) 1
2,4771 1
2,8531 !
439! I
1,443! 1
104! )

10,823!
3,206!
2,881!
3,655|
4141
It3401
164|

10,441
3,581!
2,753 1
3,416
401
1,355 1
153

Ilf277! ! 13301 « 136,4521 23,674!
55,004 10,127!
3,057! ! 13411 !
2,890) ! 360|I 45,526
8,124!
3,767! I -90! ! 23,962
If436!
8,427
406! (
67|I
1,065!
3,338
If345j ! 100!!
289!
2,637
505!
1601 ! -47!1

9,002
3,051!
2,405
3,418
290
1,243
137

i

1
1
i

6,301) 1

5,865|

6,053

5,215

5,879! 1 16801 |

3,741) 1
2,028) 1
It7l3) )
1,254) )
1,306) I

3,653)
lf931|
lf722!
lf448!
764)

3,598
1,921
1,677 1
1,347
1,108

3,255
lf750!
lf505
lfl92!
768

3,6231 )
1,950! 1
l f 673| !
lf452» !
804! !

633)1
387) )
246!)
187!I
860!1

60,682
33,928
26,754
21,769
20,439

1

1

9,083| )

8,9841

8,555 1

7,545

9,618! 1

4331 )

46,516 1

7,7211

1

t

5,158) )
2,482) 1
It4431 )

4,424|
3,220!
It 3401

4,204
2,996 1
1,355 I

283) (

3291

431 1

175) )
23| 1
78! )
7) 1

223)

274
63
81 1
13

6,941) f

7,305!

26)
69)
HI

7,061

2,466) )
2,4231 1
1»216| 1
371) I
3611 !
104| 1

2,523!
2,416!
lf422)
435|
3451
*64|

2,365
2,410
1,393
420
320 I
153 1

19,815!
!
10,877!
6,381!
4,496!
3,792!
5,146!

102,890




19.9

24,677 1
18,501 1
3,338 1

6,033!
lf399|
289|

32.4
8.2
9.5

I
398 I

3211 1

40)!

16,0041

1
912!

6.0

251
66

217) I
26| 1
67! I
HI 1

12! I
7|f
19)1
2))

9,511
3,149 1
2,859 !
485

4311
691
327|
85)

4.7
2.2
12.9
21*2

70 1
11
6,388

7,084! I

2,174 !
2,217
lf202
436 1
220
137 1

S . A . ANO N . S . A . OENOTE SEASONALLY ADJUSTED AND NOT SEASONALLY ADJUSTED OATA,
DETAILS MAY NOT ADO TO TOTALS OUE TO ROUNDING.

INCLUDES REVISIONS FOR COMMERCIAL BANKS AND RETAILERS.

21.8
23.2
20.2
21.1
33.6

3751 I
-42! )
100)I

2,522)I
2,227| 1
lf427| 1
4091 )
339| I
160) 1

1

1

!

1

908| J 109,936 1 1 6 , 7 7 2 !
3101 )
474) )
171) )
-48))
48))
-47))

1

1

41,582 1
31,416 1
23,272 !
5,461 1
5,568 1
2,637 1

6,333|
4,9121
4,247|
371
738|
505!

NET CHANGES FOR ALL MONTHS EQUAL EXTENSIONS MINUS LIQUID ATIONS CREPAYMENTS, CHARGEOFFS, AND OTHER CREDITS).
INCLUDES AUTO DEALEPIS AND EXCLUDES 30-OAY CHARGE CREDIT HELD BY RETAILERS, AND TRAVEL ANO ENTERTAINMENT COMPANIES.
NOTE:

23.9

4,9151 !
3,358| 1
lf345! )

3,322
2,980!
1,243

1
2,4781
2,407!
l,487|
309|
257!
97)

21.0
22.6
21.7
6.4
14.5
9.5
23.7

RESPECTIVELY.

18.0
18.0
18,5
22.3
.7
13.3
23.7