Full text of G.19 Consumer Credit : November 7, 1988
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FEDERAL RESERVE statistical release G.19 For immediate r e l e a s e November 7 , 1988 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 $ 1 . 9 b i l l i o n in September, f o l l o w i n g , a $5*3 b i l l i o n r i s e i n August* The annual r a t e of growth in September was 3*5 p e r c e n t — o f f from t h e 9 . 9 p e r c e n t i n c r e a s e in August; f o r t h e t h i r d q u a r t e r , o u t s t a n d i n g i n s t a l l m e n t c r e d i t expanded a t a 6 - 3 / 4 p e r c e n t p a c e , somewhat below t h e 1 0 . 2 p e r c e n t pace of t h e f i r s t h a l f . The s m a l l e r i n c r e a s e in September l i k e l y r e f l e c t e d t h e t h e absence of widespread auto s a l e s i n c e n t i v e programs, which had b o o s t e d growth in t h e p r e v i o u s t h r e e Septembers. Automobile c r e d i t o u t s t a n d i n g was unchanged from August. R e v o l v i n g and "other" c r e d i t advanced more s l o w l y than in August w h i l e mobile home lending contracted s l i g h t l y . Net change in amount o u t s t a n d i n g ( m i l l i o n s of d o l l a r s ) Annual r a t e of growth (percent) 1988 1988 CHANGE IN CREDIT, BY TYPE ( s e a s o n a l l y adjusted) Total Automobile Revolving Mobile home Other Sept. Aug, July Sept. 1,880 49 1,518 -29 342 5,324 2,201 2,641 33 449 3,621 1,106 2,118 29 368 3.5 0.2 10.3 -1.4 2*5 1988 TERMS OF CREDIT (not seasonally adjusted) I n t e r e s t rates 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 at auto f i n a n c e companies 3 / Maturity (months) New-car loan Used-car loan Loan-to-value r a t i o (percent) New-car loan Used-car loan Amount f i n a n c e d (dollars) New-car loan Used-car loan Aug, 9.9 9.3 18.1 1.5 3.3 July 6.7 4.7 14.7 1.4 2.7 1987 Sept. Aug. July June n.a. n.a. n.a. n.a. 10.93 14.81 13.62 17.79 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 12.29 14.82 12.64 15.16 12.44 14.99 12.32 14.83 8.71 14.58 56.2 46.9 56.5 46.8 56.4 46.8 56.3 46.9 50.7 45.2 94 98 94 98 94 99 94 99 93 98 11,553 7,662 11,593 7,918 11,663 7,947 11,626 7,899 11,455 7,476 ' Sept. CONSUMER INSTALLMENT CREDIT, BY HOLDER AND TYPE 4/ Millions of dollars except as noted Net change during month Sept. 1988 S .A* Aug. 1988 S «A. Sept.F 1988 N.S .A* Outstanding at end of month Sept. 1988 S.A. Sept.p 1988 N.S.A. Sept. 1987 N.S.A, Change from end of Sept. 1987 Percent Amount 1,880 5,324 5,569 655,197 660,236 607,777 52,459 8.6 1,717 -1,239 826 401 244 -70 3,929 149 412 727 78 29 3,737 624 1186 166 13 -157 308,836 142,723 86,707 69,310 43,956 3,665 310,867 145,995 87,496 69,123 42,944 3,811 278,679 141,558 81,079 61,940 40,678 3,843 32,188 4,437 6,417 7,183 2,266 -32 11.6 3.1 7.9 11.6 5.6 -0.8 Automobile Commercial banks Finance companies Credit unions Saving8 institutions 49 1,023 •1,772 631 167 2,201 1,730 -185 400 256 n.a. 1,611 85 n.a. n.a. 285,610 121,403 96,939 48,075 19,193 n.a. 122,593 100,099 n.a. n.a. n.a. 107,748 99,871 n.a. n.a. n.a. 14,845 228 n.a. n.a. n.a. 13.8 0.2 n.a. n.a. Revolving 7/ Commercial banks Savings institutions Retailers Gasoline companies Credit unions 1,518 812 286 206 -70 283 2,641 1,978 358 37 29 239 n.a. 2,319 n.a. -14 -157 n.a. 179,086 112,435 16,135 37,914 3,665 8,935 n.a. 112,424 n.a. 36,940 3,811 n.a. n.a. 96,062 n.a. 35,022 3,843 n.a. n.a. 16,362 n.a. 1.9J8 -32 n.a. n.a. 17.0 n.a. 5.5 -0.8 n.a. Mobile home Commercial banks Finance companies Savings institutions -29 -39 -46 56 33 -19 -49 102 n.a. 19 -34 n.a. 25,885 8,854 7,341 9,690 n.a. 8,979 7,380 n.a. n.a. 9,285 8,278 n.a. n.a. -306 -898 n.a. n.a. -3.3 -10.8 n.a. Other Commercial banks Finance companies Credit unions Savings i n s t i t u t i o n s Retailers 342 -79 579 -88 -107 37 449 241 384 -227 11 40 n.a. -212 573 n.a. n.a. 27 164,616 66,143 38,443 29,697 24,292 6,041 n.a. 66,871 38,516 n.a. n.a. 6,004 n.a. 65,584 33,409 n.a. n.a. 5,656 n.a. 1,287 5,107 n.a. n.a. 348 n.a. 2.0 15.3 n.a. n.a. 6.2 Total Major holder Commercial banks Finance companies 5/ Credit unions Savings institutions Retailers Gasoline companies Major credit 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, excluding loans secured by real estate. Includes outstanding balances on some securitized consumer loans originated by financial institutions. 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.* Data not available. S.A. r « revised. p • preliminary. Seasonally adjusted. N.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. The exact
