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FEDERAL RESERVE statistical release ?(«»This rele:* • •

ed around the fifth business day of each month. The exact date and time may be obtained by calling (202) 452-3206

For release at 4 p.m. (Eastern Time)
May 5. 1995

G. 19

CONSUMER INSTALLMENT CREDIT
March 1995
Consumer installment credit outstanding increased $13.8 billion in March, following a $7.7 billion rise in February.
Growth of auto and revolving credit continued near their February pace, while the volatile "other" installment credit
category rebounded.
MONTHLY CHANGE IN CREDIT OUTSTANDING1
Seasonally adjusted
Type of credit

Total
Automobile
Revolving
Other 2

Jan.
9,027
336
5,490
3,200

Amount
(millions of dollars)
1995
Feb.r
7,672
2,865
6,303
-1,496

Annual rate
(percent)
1995
Feb r
10.0
10.6
22.0
-7.1

Jan.
11.9
1.2
19.5
15.4

Mar. P
13.806
2,684
6,673
4,44X

Mar. P
17.9
9.8
22.9
21.3

TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES3
Percent except as noted, not seasonally adjusted
Institution, terms, and type of loan
Commercial banks
Interest rates
48-mo. new car loan
24-mo. personal loan
Credit card plan*
All accounts
Accounts assessed interest
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

Feb.

1994
Mar.

Nov.

Jan.

1995
Feb.

Mar.

7.54
12.89

n.a.
n.a.

8.75
13.59

n.a.
n.a.

9.70
14.10

n.a.
n.a.

n.a.
n.a.

n.a.
n.a.

15.91
15.74

n.a.
n.a.

16.24
15.29

n.a.
n.a.

8.93
12.23

9.13
12.68

10.53
14.19

11.35
14.57

11.89
15.06

11.95
15.10

54.4
50.3

54.0
50.1

54.6
50.3

53.9
52.0

54.1
52.0

54.5
52.1

91
99

92
99

93
100

92
99

92
99

92
99

14,904
10,449

14,821
10.427

15.971
11,202

16.068
11.185

15,774
11.181

15.826
11,220

* Data on credit card rates now are being collected in a new survey that was conducted for the first lime for November. 1994, The rates
for all accounts and for accounts assessed interest are described in footnote 3.
Other notes appear on reverse.




CONSUMER INSTALLMENT CREDIT OUTSTANDING
(Millions of dollars)
1994

Type of credit and holder

Mar.

Apr.

May

June

July

1995

Aug.

Oct.

Sept.

Nov.

Dec.

Jan.

Feb,r

Mar. P

941815

Seasonally adjusted

Total
Automobile
Revolving
Other2

813750

823342

836936

847715

854469

869628

879961

891603

904757

911311

920338

928010

288663

293018

298278

303526

305193

309721

315162

318036

323447

324519

324855

327720

330405

296710

301260

305528

309472

313591

321365

322823

327707

334843

337694

343184

349487

356161

228376

229064

233130

2^4717

235685

238542

241976

245860

246467

249098

252299

250803

255250

Not seasonally adjusted

Total
Major holders
Commercial banks
Finance companies
Credit unions
Savings institutions
Nonfinancial business4
Pools of securitized assets5
Major types of credit6
Automobile
Commercial banks
Finance companies
Pools of securitized assets5
Revolving
Commercial banks
Nonfinancial business4
Pools of securitized assets5
Other
Commercial banks
Finance companies
Nonfinancial business4
Pools of securitized assets^

810030

818956

830065

842126

847727

8680-49

880609

891442

906436

932890

929330

928123

936936

369710

376379

380063

386235

393927

404438

410312

414833

421790

434790

431745

432883

436102

120113

122806

122204

124318

123202

125197

130306

131562

132874

134830

136699

134439

135790

101583

102718

105718

108183

109838

113122

114699

116325

117984

120158

120668

121116

122565

37141

37472

37803

38134

38055

37975

37943

38122

38275

38750

39250

39399

39500

53410

53756

54505

55374

55775

56496

55967

56020

58247

64944

61382

59169

57863

128073

125825

129772

129882

126930

130821

131382

134580

137266

139418

139586

141117

145116

288132

291957

297172

302874

304026

310925

316778

320182

323744

325536

324826

326770

329598

126949

130104

132979

136038

138907

142452

144260

146456

148004

148117

147319

148355

148733

58999

60660

59398

59788

58107

58589

60522

60750

61372

61609

62321

61067

61256

36613

34531

35836

35817

34436

34584

35149

34394

34301

34515

32902

33936

34587

293570

297740

301609

305758

309716

319003

321205

325872

336575

355859

350035

349185

352249

145701

149265

149972

153032

156940

161417

164724

165561

171318

180530

176635

177241

177389

47937

48279

49005

49845

50218

50873

50314

50332

52475

58870

55405

53257

51986

79768

79927

82064

82075

81704

85644

85051

88762

91469

93545

95015

95734

99851

228328

229259

231284

233494

233985

238121

242626

245388

246117

251495

254469

252168

255089

97060

97010

97112

97165

98080

100569

101328

102816

102468

106143

107791

107287

109980

61114

62146

62806

64*>3()

65095

66608

69784

70812

71502

73221

74378

73372

74534

5473

5477

5500

5529

5557

5623

5653

5688

5772

6074

5977

5912

5877

11692

11367

11872

11990

10790

10593

11182

11424

11496

11358

11669

11447

10678

1. Covers most short- and intennediate-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 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 AI'R averaged across all credit card accounts at all reporting banks. Ilie 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 nt) finance charges were
assessed). 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. Includes retailers and gasoline companies.
5. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators.
6. Includes estimates for holders that do not separately report consumer credit holding by type.
r = revised. p = preliminary.