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Release Date: May 7, 1999
Release dates | Historical data
Current release Other formats: Screen reader | ASCII

Beginning with the release in early July, the G.19 will no longer provide separate estimates for the automobile and "other" categories.
Instead, these two categories will be combined into a single category called nonrevolving credit. This change is being made because we
believe that the split between the two categories has become unreliable, owing to shifts in the composition of our monthly commercial bank
panel and the lack of suitable benchmarks for the commercial bank automobile and "other" credit series.

G.19
1

CONSUMER CREDIT
March 1999

For release at 3 p.m. (Eastern Time)
May 7, 1999

Consumer credit growth slowed to a 1.4 percent annual rate in March, down from 8 percent in February. In March, automobile
credit growth remained strong at a 10 percent rate, while the levels of both revolving and "other" credit turned down.
CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
--------------------------------------------------------------------------------------------------------------------------------------1998
1999
_______________________________________________________________________________ _______________________
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb. r Mar. p
--------------------------------------------------------------------------------------------------------------------------------------Percent change at annual rate 2
Total
6.6
4.3
2.3
9.0
5.4
6.6
6.9
10.6
1.6
2.4
14.1
8.0
1.4
Automobile
8.8
4.1
4.0
8.2
8.0
12.1
8.1
6.1
12.6
12.4
19.0
13.2
9.9
Revolving
9.1
5.4
-1.4
9.2
-4.2
10.7
7.5
13.0
-2.4
8.6
13.2
5.1
-1.6
Other 3
-1.2
2.3
6.9
9.6
19.6
-8.9
4.2
12.7
-7.2
-24.1
8.2
5.6
-6.1
Amount: billions of dollars
Total
1,247.3 1,251.8 1,254.2 1,263.5 1,269.2 1,276.2 1,283.6 1,294.9 1,296.6 1,299.2 1,314.5 1,323.2 1,324.8
Automobile
419.8
421.2
422.6
425.5
428.3
432.7
435.6
437.8
442.4
447.0
454.1
459.1
462.9
Revolving
539.4
541.8
541.2
545.3
543.4
548.3
551.7
557.6
556.5
560.5
566.7
569.1
568.3
Other 3
288.2
288.7
290.4
292.7
297.5
295.3
296.3
299.5
297.7
291.7
293.7
295.1
293.6
--------------------------------------------------------------------------------------------------------------------------------------TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES 4
Percent except as noted: not seasonally adjusted
--------------------------------------------------------------------------------------------------------------------------------------Institution, terms, and type of loan
--------------------------------------------------------------------------------------------------------------------------------------Commercial banks
Interest rates
48-mo. new car
n.a.
n.a.
8.69
n.a.
n.a.
8.71
n.a.
n.a.
8.62
n.a.
n.a.
8.34
n.a.
24-mo. personal
n.a.
n.a.
13.76
n.a.
n.a.
13.45
n.a.
n.a.
13.75
n.a.
n.a.
13.41
n.a.
Credit card plan
All accounts
n.a.
n.a.
15.67
n.a.
n.a.
15.83
n.a.
n.a.
15.69
n.a.
n.a.
15.41
n.a.
Accounts assessed interest
n.a.
n.a.
15.62
n.a.
n.a.
15.85
n.a.
n.a.
15.54
n.a.
n.a.
14.73
n.a.
New car loans at auto finance companies
Interest rates
6.47
6.20
6.07
6.02
6.23
6.00
5.92
6.33
6.79
6.43
6.22
6.43
6.31
Maturity (months)
51.5
50.7
50.8
50.9
51.7
53.0
53.1
53.1
52.8
52.2
52.1
53.4
53.0
Loan-to-value ratio
92
91
93
91
92
93
93
92
91
91
92
92
91
Amount financed (dollars)
18,932 18,922 18,793 18,878 19,084 19,068 19,028 19,199 19,590 19,734 19,628 19,304 19,339
--------------------------------------------------------------------------------------------------------------------------------------This release is issued around the fifth business day of each month. The exact date and time may be obtained by calling (202) 452 - 3206.
Footnotes appear on reverse.

1
CONSUMER CREDIT OUTSTANDING
(Billions of dollars)
Not seasonally adjusted
--------------------------------------------------------------------------------------------------------------------------------------1998
1999
_______________________________________________________________________________ _______________________
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb. r Mar. p
---------------------------------------------------------------------------------------------------------------------------------------

Total

1,236.0 1,241.1 1,243.1 1,256.8 1,262.4 1,276.4 1,286.6 1,297.6 1,304.5 1,331.7 1,323.3 1,316.4 1,312.6

Major holders
Commercial banks
Finance companies
Credit unions
Savings institutions
Nonfinancial business
Pools of securitized assets 5

492.1
156.5
150.7
47.1
72.7
316.8

500.1
154.3
151.1
47.5
65.1
323.1

497.3
153.6
152.2
47.9
65.2
326.9

491.4
154.3
152.4
48.3
65.3
345.1

491.4
156.1
153.5
49.0
65.5
346.9

498.2
159.6
153.6
49.6
66.0
349.4

497.9
159.1
154.3
50.3
65.5
359.4

502.1
165.6
155.0
51.0
66.0
358.0

498.8
166.6
155.2
51.6
66.6
365.6

508.9
168.5
155.4
51.6
74.9
372.4

507.3
167.3
155.7
52.0
71.0
370.0

497.8
169.7
155.2
52.5
68.0
373.3

487.6
168.9
155.0
52.9
67.1
381.0

Major types of credit 6
Automobile
Commercial banks
Finance companies
Pools of securitized assets 5

415.5
153.9
86.8
65.1

416.0
151.3
90.6
63.7

418.2
151.7
89.6
66.0

425.2
150.9
89.9
71.6

429.9
153.2
91.7
72.5

435.4
155.5
95.3
70.8

439.6
156.3
96.2
72.1

443.1
156.8
97.6
71.8

446.6
157.1
99.0
72.6

451.0
158.1
103.1
73.0

452.2
160.3
102.8
73.2

454.0
159.9
105.0
73.2

458.1
159.3
104.7
77.8

Revolving
Commercial banks
Finance companies
Nonfinancial business
Pools of securitized assets 5

534.1
201.3
36.6
41.2
226.2

535.6
209.2
30.4
33.5
233.7

535.6
207.3
30.5
33.4
235.3

539.6
200.9
29.9
33.5
245.6

537.2
197.6
29.4
33.8
246.6

545.1
200.4
29.6
34.0
251.2

549.0
197.6
28.4
33.7
259.3

556.0
200.9
33.3
33.8
258.1

559.2
196.9
33.1
33.8
265.3

586.5
210.3
32.3
39.2
272.3

575.7
204.8
32.4
36.4
269.9

569.1
197.6
32.2
34.3
272.4

562.8
188.7
32.3
33.7
275.4

Other
286.4
289.6
289.2
292.0
295.2
296.0
298.0
298.5
298.7
294.2
295.4
293.3
291.7
Commercial banks
136.9
139.7
138.3
139.6
140.6
142.2
144.0
144.4
144.8
140.5
142.2
140.2
139.6
Finance companies
33.0
33.4
33.5
34.4
35.0
34.7
34.6
34.6
34.6
33.1
32.1
32.5
32.0
Nonfinancial business
31.5
31.6
31.8
31.7
31.7
32.0
31.8
32.2
32.9
35.7
34.6
33.6
33.4
Pools of securitized assets 5
25.6
25.6
25.5
27.9
27.8
27.5
27.9
28.1
27.7
27.1
26.8
27.7
27.8
--------------------------------------------------------------------------------------------------------------------------------------1. Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate.
2. Percent changes calculated from unrounded data.
3. Comprises mobile home loans and all other loans not included in automobile or revolving credit, such as loans for 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). 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.
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.

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Last update: May 7, 1999