Full text of G.19 Consumer Credit : November 5, 1993
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\ o? &Ovi FEDERAL RESERVE statistical release This release is issued around the fifth business day of each month. The fX^t!^^^lE^^i&MkvWWtmhe6py calling (202) 452-3206 •f^rWf:-- For immediate release November 5, 1993 G. 19 CONSUMER INSTALLMENT CREDIT September 1993 Consumer installment credit outstanding increased $6.7 billion in September, following a $5.0 billion rise in August; the September advance was the largest since January 1988. All of the major categories posted large gains in September. MONTHLY CHANGE IN CREDIT OUTSTANDING1 Seasonally adjusted Amount (millions of dollars) Type of credit 1993 July Aug.r Total 5,037 5,038 Automobile 2,080 1,316 Revolving 3,600 3,815 Other 2 -643 -91 Sept. P 6,679 2,284 3,036 1,357 Annual rate (percent) 1993 Aug.r 8.0 5.9 17.1 -0.5 July 8.0 9.4 16.4 -3.4 TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES 3 Percent except as noted, not seasonally adjusted 1992 Aug. Sept. Nov. May Institution, terms, and type of loan Commercial banks Interest rates 48-mo. new car loan 24-mo. personal loan 120-mo. mobile home loan Credit card plan 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 Notes appear on reverse. Sept. P 10.5 10.2 13.5 7.3 1993 Aug. Sept. 9.15 13.94 12.57 17.66 n.a. n.a. n.a. n.a. 8.60 13.55 12.36 17.38 8.17 13.63 12.00 17.15 7.98 13.45 11.53 16.59 n.a. n.a. n.a. n.a. 8.88 13.49 8.65 13.44 9.65 13.37 9.51 12.61 9.21 12.48 9.21 12.52 53.6 47.9 53.3 47.7 54.1 47.8 54.4 48.9 54.9 49.0 54.7 48.8 90 97 90 97 89 97 91 98 91 99 91 98 13,745 9,238 13,889 8,402 14,043 9,475 14,146 9,829 14,324 10,054 14,348 9,808 CONSUMER INSTALLMENT CREDIT OUTSTANDING (Millions of dollars) 1993 1992 Type of credit and holder Sept Oct Nov Dec Jan Feb r Apr May June July 752193 262463 261450 228280 750293 264007 262690 223596 752428 265388 263338 223701 757465 267468 266938 223058 762503 268784 270753 222967 769182 271068 273789 224324 Mar Aug Sept P Seasonally adjusted Total Automobile Revolving Other2 733023 259433 250456 223135 734195 258208 251806 224181 736023 258860 252086 225077 741093 259627 254299 227167 743583 258737 255984 228862 747228 261434 258384 227410 750131 262313 259661 228157 Not seasonally adjusted Total Major holders Commercial banks Finance companies Credit unions Savings institutions Retailers Gasoline companies Pools of securitized assets4 Major types of credit5 Automobile Commercial banks Finance companies Pools of securitized assets4 Revolving Commercial banks Retailers Gasoline companies Pools of securitized assets4 Other Commercial banks Finance companies Retailers Pools of securitized assets4 734884 734766 737651 756944 748529 745374 743133 746447 744778 748830 753645 763268 770996 327437 116669 94,644 41,317 35,925 4,499 114393 326472 116359 95,517 42,031 36,441 4,452 113494 325149 116558 96,092 42,746 36,678 4,365 116063 331869 117127 97,641 43,461 42,079 4,365 120402 330355 116009 98,262 42,804 40,057 4,366 116676 330060 112686 98,785 41,975 38,462 4,148 119258 329764 111854 99,778 41,695 38,030 4,080 117932 332266 112523 101534 40,275 38,218 4,280 117351 333415 109311 103019 39,210 38,681 4,486 116656 ^35592 111330 104781 37,250 38,813 4,567 116497 339948 113076 106027 36,485 39,043 4,668 114398 ^45449 111864 108095 35,919 39,688 4,728 117525 -^49830 112645 110125 14,985 39,842 4,706 118863 262042 111646 59,806 32,283 249421 126971 30,763 4,499 69,901 223422 88,820 56,864 5,162 12,209 260201 110447 59,290 32,065 249983 126992 31,254 4,452 69,285 224581 89,033 57,068 5,187 12,144 259148 109459 58,386 32,979 252877 127481 31,444 4,365 70,889 225626 88,209 58,172 5,234 12,195 259964 109743 57,605 33,878 267949 132582 36,629 4,365 74,243 229031 89,544 59,522 5,450 12,281 258017 109671 57,165 32,388 260758 129567 34,666 4,366 71,927 229754 91,117 58,844 5,391 12,361 259830 111005 54,036 36,031 257440 127877 33,110 4,148 72,024 228105 91,178 58,651 5,352 11,202 259945 111287 53,508 36,085 256233 128079 32,681 4,080 70,890 226955 90,398 58,346 5,349 10,957 260857 111121 53,977 36,262 257783 129550 32,838 4,280 69,919 227807 91,595 58,546 5,380 11,170 262860 112700 53,878 36,431 259566 130871 33,254 4,486 69,054 222352 89,844 55,433 5,427 11,171 265345 114901 55,592 34,701 260993 129921 33,328 4,567 70,842 222491 90,770 55,737 5,485 10,954 267646 116729 56,817 33,673 264100 132984 33,505 4,668 69,935 221899 90,235 56,259 5,538 10,790 270495 118535 55,247 35,569 269663 135466 34,099 4,728 71,562 223109 91,448 56,616 273713 120757 55,057 36,149 272665 136628 34,214 4,706 72,646 224618 92,445 57,588 5,628 10,068 5,589 10,394 1 Covers most short- and intermediate-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 ^ Interest rates are annual percentage rates as specified by the Federal Reserve's Regulation Z Interest rates at commercial banks are simple unweighted averages of each bank's most common rate charged dunng the first calendar ueek of the middle month of each quarter 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 dunng the month 4 Outstanding balances of pools upon which securities have been issued, these balances are no longer earned on the balance sheets of the loan ongmators 5 Includes estimates for holders that do not separately report consumer credit holding by type Digitized rfor FRASER p = preliminary ~ revised