Full text of G.19 Consumer Credit : May 5, 1995
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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.