Full text of G.19 Consumer Credit : November 6, 1986

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FEDERAL RESERVE statistical release
G.19

For immediate release
November 6, 1986

CONSUMER INSTALLMENT CREDIT
Consumer installment credit outstanding rose a seasonally adjusted $8.4 billion
in September, following a downward-revised $3*4 billion gain in August; the September
increase was the largest since the $10.3 billion advance in September 1985. The annual
rate of advance in September was 17.4 percent—well above the 7.1 percent August rise
and the 11.6 percent increase of the first 8 months of the year—led by a sharp increase
in automobile credit in response to sales incentive programs. Revolving credit grew
somewhat faster than in August, while all other (mobile home plus "other") credit slowed
from the previous month's pace.

Net change in
amount outstanding
(millions of dollars)

Annual rate of growth
(percent)
1986

1986
FLOWS OF CREDIT
(seasonally adjusted)

Total
Automobile
Revolving
Mobile home
Other

Sept.

8,367
7,738
511
-266
385

Aug.

3,393
2,579
338
-183
659

Sept.

July

5,564
3,628
857
-81
1,160

17.4
40.6
4.9
-12.7
2.3

7.1
13.7
3.2
-8.6
4.0

1986
TERMS OF CREDIT fc
(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 p l a n
Auto f i n a n c e companies 3 /
New-car loan
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 loan
Used-car loan
Loan-to-value r a t i o (percent)
New-car loan
Used-car loan
Amount financed
(dollars)
New-car loan
Used-car loan




Aug.

July

11.8
19.6
8.2
-3.8
7.1

1985

Sept.

Aug.

July

June

Sept.

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

11.00
14.70
13.95
18.15

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

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

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

5.40
15.23

9.29
15.56

9.31
15.83

9.35
16.06

8.84
17.31

44.5
42.5

50.4
42.9

49.9
42.8

49.5
42.7

51.2
41.4

92
98

90
97

89
97

89
97

92
95

11,162
6,763

10,756
6,569

10,748
6,614

10,608
6,611

10,449
6,097

CONSUMER INSTALLMENT CREDIT, BY HOLDER AND TYPE 4/
Millions of dollars except as noted
Net change during month
Sept.
1986
S.A.

Aug.
1986 r

Sept.
1986 P

Outstanding at end of month
Sept«
1986

Sept.p
1986
N.S .A.

Sept.
1985
N.S.A.

Change from end of
Sept. 1985
Amount

Percent

8,367

3,393

9,731

584,977

588,927

519,778

69,149

13.3

1,634
5,621
972
120
94
-74

711
1,741
492
370
100
-21

2,209
6,433
1172
53
-4
-132

253,543
144,559
81,594
61,540
40,445
3,295

255,125
146,709
82,355
61,762
39,515
3,461

235,167
116,422
73,159
52,832
37,852
4,346

19,958
30,287
9,196
8,930
1,663
-885

8.5
26.0
12.6
16.9
4.4
-20.4

Automobile
Commercial banks
Finance companies
Credit unions
Savings i n s t i t u t i o n s

7,738
1,301
6,020
396
21

2,579
672
1,715
200
-9

n.a.
1,153
6,597
n.a.
n.a.

236,551
95,988
96,598
33,209
10,757

n.a.
96,913
98,461
n.a.
n.a.

n.a.
91,727
70,497
n.a.
n.a.

n.a.
5,186
27,964
n.a.
n.a.

n.a.
5.7
39.7
n.a.
n.a.

Revolving 7/
Commercial banks
Savings i n s t i t u t i o n s
Retailers
Gasoline companies

511
418
118
49
-74

338
134
126
98
-21

n.a.
1,043
n.a.
-37
-132

126,426
80,551
6,893
35,688
3,295

n.a.
80,380
n.a.
34,791
3,461

n.a.
70,329
n.a.
33,421
4,346

n.a.
10,051
n.a.
1,370
-885

n.a.
14.3
n.a.
4.1
-20.4

Mobile home
Commercial banks
Finance companies
Savings i n s t i t u t i o n s

-266
-49
-201
-17

-183
-70
-108
-5

n.a.
-14
-130
n.a.

24,949
9,037
8,681
7,231

n.a.
9,147
8,844
n.a.

n.a.
9,780
9,170
n.a.

n.a.
-633
-326
n.a.

n.a.
-6.5
-3.6
n.a.

Other
Commercial banks
Finance companies
Credit unions
Savings i n s t i t u t i o n s
Retailers

385
-36
-198
576
-3
45

659
-27
134
292
257
3

n.a.
27
-34
n.a.
n.a.
33

197,050
67,967
39,281
48,385
36,660
4,758

n.a.
68,685
39,404
n.a.
n.a.
4,724

n.a.
63,331
36,755
n.a.
n.a.
4,431

n.a.
5,354
2,649
n.a.
n.a.
293

n.a.
8.5
7.2
n.a.
n.a.
6.6

Total
Major holder

Commercial banks
Finance companies 5/
Credit unions
Savings i n s t i t u t i o n s
Retailers
Gasoline companies
Major c r e d i t type 6/

1. Interest rates are annual percentage rates as specified by Regulation Z.
2. Commercial bank data are simple unweighted averages of each bank's "most commmon" rate
charged during the first calendar week of the month.
3. Finance company data from the subsidiaries of the three major U.S. automobile manufacturers
are volume-weighted averages covering all loans of each type purchased during the month.
4. The Board's series on amounts of credit 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•
5. More detail for finance companies is available in the G.20 Statistical Release, Finance
Companies•
6. Not seasonally adjusted data are unavailable by type of credit for certain holders. In these
cases, the seasonally adjusted total for the holder group has been allocated among the components
using the latest available benchmark information.
7. Excludes 30-day charge credit held by travel and entertainment companies.
n.a.88 Data not available.
S.A.= Seasonally adjusted.
r - revised.
p « preliminary.

f.S.A." Not seasonally adjusted*

The G.19 Statistical Release is issued around the fifth working day of each month.
date and time may be obtained by calling (202) 452-3206.




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