Full text of G.19 Consumer Credit : November 15, 1984

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FEDERAL RESERVE statistical release
For immediate r e l e a s e
November 15, 1984

G.19

CONSUMER INSTALLMENT CREDIT
Consumer i n s t a l l m e n t c r e d i t o u t s t a n d i n g i n c r e a s e d in September by $4.28 b i l l i o n ,
s e a s o n a l l y a d j u s t e d , following g a i n s of $6.0 b i l l i o n in August and $7.11 b i l l i o n in J u l y .
The annual p e r c e n t a g e r a t e of growth was 11-1/2 p e r c e n t in September. For the t h i r d
q u a r t e r , consumer i n s t a l l m e n t c r e d i t advanced a t a 16-1/4 p e r c e n t a n n u a l r a t e , compared
with 24 p e r c e n t d u r i n g t h e second q u a r t e r .
Expansion in automobile c r e d i t d e c e l e r a t e d on a s e a s o n a l l y adjusted b a s i s to
$1.32 b i l l i o n in September from $1.78 b i l l i o n in August, while growth in t h e l a r g e
" o t h e r " c a t e g o r y slowed by about $ 1 . 0 b i l l i o n to $1.32 b i l l i o n . Revolving c r e d i t
o u t s t a n d i n g a l s o i n c r e a s e d by $1.32 b i l l i o n in September, about the same a s in August.
FLOWS OF CREEHT

M i l l i o n s of d o l l a r s
(seasonally adjusted)

Total
Automobile
Revolving
Mobile home
Other

Net: Change in
Amount: Outstanding

Annual Rate of Growth
( percent)

19 84

1984

Sept.

Aug.

4,283
1,317
1,324
318
1,324

5,998
1,777
1,314
573
2,334

July

Sept

Aug.

July

7,106
3,422
640
462
2,582

11.6
9.8
18.0
14.9
9.5

16.5
13.4
18.1
27.5
16.9

19.8
26.3
8.9
22.6
19.0

1984
TERMS OF CREDIT
(not s e a s o n a l l y a d j u s t e d )
I n t e r e s t r a t e s 1/
Commercial banks 2 /
48-mo. new-car loan
24-mo. p e r s o n a l loan
120-mo. mobile home loan
C r e d i t card plan
Auto f i n a n c e companies 3 /
New-car l o a n
Used-car loan
Other terms a t
auto f i n a n c e companies 3 /
M a t u r i t y (months)
New-car l o a n
Used-car l o a n
L o a n - t o - v a l u e r a t i o (%)
New-car l o a n
Used-car l o a n
Amount financed
($)
New-car l o a n
Used-car loan




19 83

Aug.

July

"
June

n.a.
n.a.
n.a.
n.a.

14.08
16.75
15.72
18.81

n.a.
n.a.
n.a.
n.a.

n.a.
n.a.
n.a.
n.a.

n.a.
n.a.
n.a.
n.a.

15.16
18.10

15.01
17.99

14.68
17.77

14.33
17.64

3.62
18.21

49.5
39.9

49.2
39.8

48.6
39.8

48.2
39.8

46.2
38.0

88
93

88
93

88
92

88
92

87
93

9,402
5,7 92

9,409
5,753

9,377
5,763

9,311
5,774

8,792
5,144

Sept.

^

Sept,.

CONSUMER INSTALLMENT CREDIT BY HOLDER AND TYPE
( M i l l i o n s of d o l l a r s except a s noted)

Installment credit
holder and type

Net change d u r i n g
Se pt .
Aug .
Se pt .
1984
1984
1984

C h a n g e from end of
S e p t . 19 83
amount
percent

o * A..

D • A..

4,283

5,998

6,594

447,518

450,131

375,246

74,885

20.0

1,384
1,204
686
132
769
-135
243

2,631
1,111
844
206
1,124
-51
133

2,798
1,556
1,129
132
950
-124
153

200,438
108,149
63,050
35,189
28,767
4,037
7,888

202,452
108,437
63,808
34,426
28,868
4,328
7,812

160,973
102,174
51,123
30,926
19,985
4,338
5,727

41,479
6,263
12,685
3,500
8,883
-10
2,085

25.8
6.1
24.8
11.3
44.4
-0.2
36.4

Automobile
Commercial banks
Finance companies
C r e d i t unions

1,317
434
556
327

1,777
1,150
222
405

2,323
920
863
540

162,367
81,730
50,480
30,157

164,361
82,706
51,136
30,519

139,002
63,448
51,103
24,451

25,359
19,258
33
6,06 8

18.2
30.4
0.1
24.8

Revolving
Commercial b a n k s
Retailers 4/
Gasoline companies

1,324
1,323
136
-135

1,314
1,159
206
-51

1,954
1,945
133
-124

89,836
53,910
31,889
4,037

89,742
54,258
31,156
4,328

71,039
39,041
27,660
4,338

18,703
15,217
3,496
-10

26.3
39.0
12.6
-0.2

318
4
150
157
7

573
4
346
214
9

304
50
71
171
12

25,920
9,673
10,354
5,226
667

25,482
9,761
9,857
5,189
675

23,189
9,876
9,196
3,575
542

2,293
-115
661
1,614
133

9.9
-1.2
7.2
45.1
24.5

1,324
-377
498
352
-4
612
243

2,334
318
543
430
0
910
133

2,013
-117
622
577
-1
779
153

169,395
55,125
47,315
32,226
3,300
23,541
7,888

170,546
55,727
47,444
32,614
3,270
23,679
7,812

142,016
48,608
41,875
26,130
3,266
16,410
5,727

28,530
7,119
5,569
6,484
4
7,269
2,085

20.1
14.6
13.3
24.8
0.1
44.3
36.4

Total
By major

IN . o « A..

O u t s t a n d i n g a t end of
Sept .
Sept.
Sept .
1984
1984
19 83
N.S.A.
N.S.A.
S.A.

holder

Commercial b a n k s
Finance companies
Credit unions
Retailers 4/
S a v i n g s and l o a n s
Gasoline companies
Mutual s a v i n g s banks
By m a j o r c r e d i t

type

M o b i l e home
Commercial b a n k s
Finance companies
S a v i n g s and l o a n s
Credit unions
Other
C omm e r c i a l b a n k s
F i n a n c e companies
Credit unions
Retailers 4/
S a v i n g s and l o a n s
Mutual s a v i n g s banks

1. I n t e r e s t r a t e s a r e annual p e r c e n t a g e r a t e s a s s p e c i f i e d by R e g u l a t i o n Z.
2 . Commercial bank d a t a are simple unweighted a v e r a g e s of each bank 1 s "most common" r a t e charged
during the f i r s t c a l e n d a r week of t h e month.
3 . Finance company d a t a from the s u b s i d i a r i e s of the t h r e e major U.S. automobile m a n u f a c t u r e r s
a r e volume-weighted a v e r a g e s covering a l l l o a n s of each type purchased d u r i n g t h e month.
4. I n c l u d e s auto d e a l e r s and excludes 30-day c h a r g e c r e d i t h e l d by t r a v e l and e n t e r t a i n m e n t
companies .
5 . n . a . = Data not a v a i l a b l e .
S.A.= S e a s o n a l l y a d j u s t e d .
N.S.A.= Not s e a s o n a l l y a d j u s t e d .
NOTE: The B o a r d ' s s e r i e s on amounts of c r e d i t c o v e r s most s h o r t - and i n t e r m e d i a t e - t e r m c r e d i t
extended to i n d i v i d u a l s t h r o u g h r e g u l a r b u s i n e s s c h a n n e l s , u s u a l l y t o f i n a n c e the purchase
of consumer goods and s e r v i c e s or to r e f i n a n c e d e b t s i n c u r r e d for such p u r p o s e s , and scheduled to
be r e p a i d ( o r with the o p t i o n of repayment) in two or more i n s t a l l m e n t s .