Full text of G.19 Consumer Credit : November 5, 1976

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FEDERAL

RESERVE

statistical

release
FOR

CONSUMER

INSTALMENT C R E D I T

-

IMMEDIATE RELEASE
NOVfcMBER 5 , 1 9 7 6

SEPTEMBER 1 9 7 6

CONSUMER C R E D I T OUTSTANDING EXPANDED I N SEPTEMBER BY $ 1 . 4 8 B I L L I O N , AFTER
SEASONAL ADJUSTMENT, UP S L I G H T L Y FROM AUGUST'S S I . 4 B I L L I O N ADVANCE, AND W I T H I N THE
$ 1 . 3 TO $ 1 . 5 B I L L I O N RANGE M A I N T A I N E D S I N C E MARCH.
THE SEPTEMBER ADVANCE VIRTUALLY
EQUALED THE $ 1 . 4 9 B I L L I O N NET CHANGE I N DECEMBER, 1 9 7 5 , THE LARGEST MONTHLY INCREASE
OF THE CURRENT ECONOMIC RECOVERY P E R I O D .
THERE WAS L I T T L E S H I F T I N RATES OF EXPANS I O N AMONG THE TYPES OF C R E D I T , EXCEPT FOR A REBOUND I N THE GROWTH OF BANK CARD
C R E D I T TO $ 1 6 6 M I L L I O N , SEASONALLY A D J U S T E D , FROM $ 8 6 M I L L I O N I N AUGUST.
THIS
EXPANSION I N BANK CARD OUTSTANDINGS, HOWEVER, WAS ATTRIBUTABLE MAINLY TO A SMALLER
VOLUME OF L I Q U I D A T I O N S RATHER THAN HIGHER E X T E N S I O N S .
AUTOMOBILE C R E D I T OUTSTANDING
INCREASED BY $ 6 0 4 M I L L I O N , NEARLY THE SAME AS I N AUGUST.
EXTENSIONS OF INSTALMENT C R E D I T ( $ 1 5 . 7 8 B I L L I O N ) AND L I Q U I D A T I O N S
( $ 1 4 . 2 9 B I L L I O N ) BOTH EDGED TO NEW H I G H S I N SEPTEMBER ON A SEASONALLY ADJUSTED B A S I S .
AUTOMOBILE CREDIT EXTENSIONS ROSE TO ANOTHER NEW H I G H , WITH HOME IMPROVEMENT LOANS AND
" A L L OTHER* CREDIT ALSO RECORDING INCREASED E X T E N S I O N S .
(IN

INSTALMENT

AMOUNT

CREDIT,

I
I
I
I
LATEST
S E P . 1 9 7 6 | AUG. 1976 I S E P . 1 9 7 6 | S E P . 1 9 7 5 I
12 MONTHS
(SEASONALLY A D J . )
J
(NOT S E A S . A D J . )
|(NOT SEAS.ADJ.)

TOTAL

I

I
15,7751
I
4 , 7 69 |
253!
434|
2,1651
3751
7,779|

EXTENDED:

AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK CREDIT CARD
OTHER REVOLVING ( 1 )
ALL OTHER

LIQUIDATED

NET CHANGE I N AMOUNT
OUTSTANDING:

I
AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK CREDIT CARD
OTHER REVOLVING C D
ALL OTHER

605|
-69|
651
166|
171
698|

AMOUNT O U T S T A N D I N G ,
END OF MONTH

I
I
I

(2)

HOLDER

54,919
3,286
4,887
24,218
4,673
69,810

15,469

CREDIT

PER CENT)

1

1

1

1

1

(SEASONALLY ADJUSTED ANNUAL

EXTENSIONS
LIQUIDATIONS
NET CHANGE




(MILLIONS
1

197611 I

|

1

1

1
1
1

186,8031
170,0531
16,7501

1

1

19761I

|

!
182,5411
165,612J
16,9291

1

1

48. 4 J
22.31
17.11
9.3|
2.4)

48.41
19.41
15.21
15.21
l.8|

47.7|
18.9|
14.71
16.21
2.5|

48.5|
22.4|
16.9|
9.9|
2.3|

AVERAGES

RATES)

OF DOLLARS)

19761

I 1975IV

1
182,7931
168,0001
14,7921

1

|

1
177,6651
161,6671
15,9781

1

1975III

49.0
22.9
15.t>
10.3
2.2

1

1

INSTALMENT CREDIT FLOWS, QUARTERLY

TOTAL
INSTALMENT
CREDIT

(5)

(6)
C6)
(6)
(6)
(6)
(6)

SHARE OF EXTENSIONS
| MONTH-END SHARE OF OUTSTANDINGS
(SEASONALLY A D J . )
|
(NOT SEASONALLY A D J . )
1 9 7 6 1 A U G . 1 9 7 6 | S E P . 1 9 7 5 | S E P . 1 9 7 6 1 A U G . 1 9 7 6 1 S E P . 197f>
I
47.8|
19.51
15.4|
15.6|
1.7|
I

COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS (3)
OTHERS (4)

181,793

4,7121
2411
400|
2,183|
4131
7,737|
I
I
14,2821
I
I
1,4031
I
6211
-511
391
86!
-6|
714|
I
I

SHARES OF INSTALMENT
(IN

SEP.

15,6851

I

I
I
AMOUNT

OF DOLLARS)

MILLIONS

1 1976III

|

1

1

169,3251
156f858|
12,4671

1

1 5 . 7J
1 4 . 3\
1.4i

1

AS PER CENT OF OISPG SAbLfc
PERS ONAL INCOME
| 19761
1 19751V

1976II

1
15-fcl
14.11
1.4|

1

NOTE: CONSUMER INSTALMENT CREDIT CONSISTS OF SHORT- AND INTERMEDIATE-TERM CREDIT
EXTENDED THROUGH REGULAR BUSINESS CHANNELS TO FINANCE THE PURCHASE OF GOODS
AND SERVICES FOR PERSONAL CONSUMPTION, OR TU REFINANCE DEBTS INCURRED FOR
SUCH PURPOSES, AND SCHEDULED TO BE REPAID IN TWO OR MORE INSTALMENTS.
MORTGAGE CREDIT IS FXCLUDED.
(1)
BANK CHECK CREDIT AND OTHER BANK REVOLVING CREDIT.
(2)
NOT APPLICABLE.
(3)
RETAIL STORES AND CATALOG ORDER.
(4)
MUTUAL SAVINGS BANKS, SAVINGS AND LOAN ASSOCIATIONS, AND AUTO DEALERS.
(5)
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.
(6)
FOR VALUES SEE THE NEXT TO LAST COLUMN ON THE NEXT PAGE UNDER THE HEADING
"CHANGE FROM END OF SEPTEMBER 1975 AMOUNT N.S.A.*

1
15.91
14.6|
1.3|

1

|

1975I1I

1
15.91
14.41
1.4|

15.5
14.4
1.1

CONSUMER INSTALMENT CREDIT BY HOLDER AND TYPE -

SEPT*

1976

( I N MILLIONS OF DOLLARS)

1

E X T E N D F D

L I Q U I D

A T E 13

INSTALMENT C R E D I T , BY
SEP.
1976
S.A.

HOLDER AND TYPE

I

AUG.
1976
S.A.

1
1
!

SEP.
1975
S.A.

1 SEP.
1 1976
1 N.S.A.

|
I
j

SEP.
1976
S.A.

AUG.
1976
S.A.

I
|
|

SEP.
1975
S.A.

11
I
1 SEP.
|I
1 1976
II
1 N.S.A. | 1

1

1
15,77 5

TOTAL

15,685

14,1941

1

7,546
3,072
2,424 1
2,463 1
271

7,487
2,965 1
2,313
2,548 1
372 I

6,8771
2,7481
2,1561
2,1641
250|

BY CREDIT TYPE
AUTOMOBILE, TOTAL
COMMERCIAL BANKS
INOIRECT PAPER
DIRECT LOANS
FINANCE COMPANIES
CREDIT UNIONS
OTHERS

4,769
2,846
1,511
1,335
891 1
963
69

4,712
2,762 1
1,480
1,282 I
937
928
84

4,3301
2,5511
1,3841
1,1671
846|
873|
611

MOBILE HOME
COMMERCIAL BANKS
FINANCE COMPANIES
HOME IMPROVEMENT, TOTAL
COMMERCIAL BANKS

ALL OTHER, TOTAL
_

—

(II
(2)

(3)




7,5141
2,8571
2,494|
2,4011 f
3031
j
I

6,849
2,839
1,941
2,439
226

6,970|
2,796|
1,927|
2,3651
2241

6,341
2,654
1,728
2,271
207

4,7211

4,165

4,090|

2,7381
1,451|
1,2871
8821
1,0481
53|
1 |
l

2,470
1,386
1,084
862
791
42

2,3851
1,3211
1,0641
874|
7921
39|

13,dill I

14811 I

6,7611I
2,6801 1
1/8501 1
2»3O0| 1
2201 1

6971 I
233| 1
4831 1
241 1
45) 1

3,869

4,1151 1

2,366 i
1,335
1,032
746 1
719
38

172,918

15,*,70

9.8

1
1

I

1
1

1
1
1
1

83,714 1
38,575
29,600
17,012
4,017

6,582
2,57*
5,090
776
450

8.5
7.1
20.6
4.8
12.6

6051 1

59,270

7,406

14.3

2,4501 1
1,360| 1
1,0911 1
8221 1
802| 1
411 1

376| I
125| I
2511 1
28| 1
1721 1
28| 1

34,701
19,495
15,206
12,808
11,270
491

3,653
1,199
2,454
1,737
1,941
77

11.6
6.to
19.2
15.7
20.8
18.6

186 1
54

2291
631

2201
611

253
69

2221
701

241
65

259| 1
651 1

-531 1
-16| 1

8,340
3,319

-442
-133

-5.0
-3.9

434

400

3811

4741

369

361|

334

371| 1

65| 1

8,665

700

8.8

i

II
266

242

2321

28311

223

216|

203

2281 1

43| 1

5,318

376

7.6

2,165
375

2,183
413

1,8061
339|

2,20511
3931

2,000
358

2,097|
419 |

1,670
320

1,976| 1
3411 1

166| 1
17| 1

10,153
2,922

1,419
207

16.2
7.6

7,779

7,737

7,0451

7,494|

7,081

7,0231

6,702

6,6831 1

698| 1

80,249

6,310

8.5

1,545
I t 085
1,902
1,5471
1,113
2,4391
821

1,6311
1,151|
1,844|
1 ,5011
1,0981
2,3651
85|

1,541
1,075
1,836 1
1,469
978
2,2711
76

1,506| 1
1,0621 1
1,787| 1
1,4511 1
1,0101 1
2,3001 1
80| 1

148| 1
108 1 1
2231 1
198| 1
297| 1
24| 1
5| 1

22,280
15,4501
22,316
18,371
17,438|
17,0121
1,103

1,368
1,159!
990
1,054
2,995
776
181|

---.—.•».—»——«•»-»-.

COMM. BANKS, TOTAL
PERSONAL LOANS
FINANCE C O S . , TOTAL
PERSONAL LOANS
CREDIT UNIONS
RETAILERS
OTHERS

13,201 1

200
53

REVOLVING
BANK CREDIT CARD
BANK CHECK CREDIT

14,2d2|

1
I
1
1

BY HOLDER
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS
(2)
OTHERS
(3)

14,294

15,569 1 1

NET | 1 0 U T S T A N D I N G
CHG |
S E P . ! 1 END OF CHANGE FROM END
19761 1 SEP.
OF S E P . 1975
S.A.I 1
1976
AMOUNT
PEk
(1) 1 1 N . S . A . 1 N . S . A .
CENT

1,693
1,193
2,125
1,745
1,4101
2,463
87

1,702
1,1971
1,970
1,607
1,338
2,548
180

1,720|
It196|
1,8351
1,4951
1,238|
2,1641
89|

II
II
II

II

II

It67411
1,204||
1.911H
1,547||
1,3881|
2,40111

12011

NET CHANGES FOR ALL MONTHS EQUAL EXTENSIONS MINUS LIQUIDATIONS (REPAYMENTS, CHARGEOFFS, AND OTHER C R E D I T S ) .
EXCLUDES 3 0 - 0 A Y CHARGE CREDIT HELD BY RETAILERS, OIL AND GAS COMPANIES, AND TRAVEL AND ENTERTAINMENT COMPANIES
AMOUNTING TO $ 2 2 9 0 MILLION AT THE END OF SEPTEMBER.
T H I S REPRESENTS AN INCREASE OF $ 1 1 MILLION FROM THE END OF
AUGUST ON A SEASONALLY ADJUSTED BASIS AND AN INCREASE OF $25 M I L L I O N ON AN UNADJUSTED B A S I S .
MUTUAL SAVINGS BANKS, SAVINGS ANO LOAN ASSOCIATIONS, AND AUTO DEALERS.
NOTE:

S.A.

AND N . S . A .

DENOTE SEASONALLY ADJUSTED AND NOT SEASONALLY ADJUSTED DATA,

RESPECTIVELY.

6.5
8.1
4.6
6.1
20.7
4.8
17.7