Full text of G.19 Consumer Credit : November 7, 1991
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••SSSga*;- FEDERAL RESERVE statistical release *.f^Hesf. For immediate release November 7, 1991 G.19 CONSUMER INSTALLMENT CREDIT Consumer installment credit outstanding declined $1.5 billion in September, following a $0.9 billion decline in August; this latest drop marked the fifth consecutive monthly decrease. Automobile credit again showed the largest decline; mobile home and "other" loans also fell sharply. Revolving credit outstanding posted its largest dollar gain since March. Net change in amount outstanding (millions of dollars) 1991 Sep p Aug r Jul Annual rate of growth (percent) 1991 Sep p Aug r Jul CHANGE IN CREDIT, BY TYPE 1/ (seasonally adjusted) Total Automobile Revolving Mobile home Other -1,545 -2,251 2,407 -526 -1,175 -854 -1,659 1,255 -120 -329 -629 -931 462 -291 131 -2.5 -9.9 12.6 -32.4 -6.8 -1.4 -7.3 6.6 -7.4 -1.9 __199o—. Sep 1991 Sep Aug Jul -1.0 -4.1 2.4 -17.6 0.8 Jun TERMS OF CREDIT 2/ (not seasonally adjusted) Interest rates Commercial banks 48-mo. new car loan 24-mo. personal loan 120-mo. mobile home loan Credit card plan Auto finance companies New car loan Used car loan n n n n .a .a .a .a . . . . 12.38 15.60 Other terms at auto finance companies Maturity (months) New car loan 55.4 Used car loan 47.2 Loan-to-value ratio (percent) New car loan 87 Used car loan 96 Amount financed (dollars) 12,46 0 New car loan 8,996 Used car loan 11.06 15.24 13.73 18.24 n .a. n .a . n.a. n .a . n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 12.40 15.63 12.55 15.66 12.77 15.74 12.34 16.03 55.4 47. Z 55.5 47.4 55.5 47.3 54.3 46.1 88 97 88 96 88 97 85 95 12,518 8,902 12,572 8,989 12,343 8,916 11,837 8,403 CONSUMER INSTALLMENT CREDIT, BY HOLDER AND TYPE 1/ Millions of dollars Sep p 1991 Aug r 1991 Jul 1991 Jun 1991 May 1991 Sep 1990 Aug 1990 seasonally adjusted Total Automobile Revolving Mobile home Other 727,563 729,108 729,962 730,591 732,289 735,547 733,844 269,655 231,860 18,970 207,078 271,906 229,453 19,495 208,253 273,565 228,199 19,615 208,582 274,496 227,737 19,907 208,451 276,494 227,301 19,796 208,697 285,627 219,090 21,073 209,758 286,818 217,024 21,191 208,811 --not seasonally adjusted— 730,587 731,531 727,754 728,023 727,717 7 38,946 736,480 335,019 132,471 92,867 36,839 37,281 4,753 91,357 335,662 135,509 92,843 37,893 37,296 4,857 87,471 334,273 134,120 92,017 39,012 36,392 4,712 87,228 333,442 133,903 91,924 39,827 36,702 4,591 87,634 334,746 134,045 91,549 40,764 36,782 4,507 85,324 342,698 140,890 92,996 50,683 38,963 4,723 67,993 340,525 139,496 93,071 51,822 39,557 4,722 67,287 Automobile Commercial banks Finance companies Pools of securitized assets 3/ 272,783 119,898 69,853 26,341 274,190 120,577 71,571 25,071 274,222 121,319 70,444 25,6 09 275,018 121,605 70,304 26,039 275,582 121,631 69,689 27,085 289,169 128,268 78,116 21,390 289,371 127,647 77,205 21,988 Revolving Commercial banks Retailers Gasoline companies Pools of securitized assets 3/ 231,072 125,374 32,964 4,753 56,438 229,224 125,787 32,962 4,857 54,017 226,145 124,645 32,076 4,712 53,094 225,596 124,106 32,381 4,591 52,897 224,301 126,047 32,458 4,507 49,667 218,279 127,415 34,528 4,723 39,606 216,633 126,683 35,101 4,722 38,194 19,074 9,714 5,300 19,468 9,534 5,700 19,639 9,552 5,669 19,875 9,652 5,652 19,721 9,386 5,595 21,195 9,263 5,423 21,185 9,338 5,358 207,658 80,033 57,318 4,317 208,649 79,764 58,238 4,334 207,748 78,757 58,007 4,316 207,534 78,079 57,947 4,321 208,113 77,682 58,761 4,324 210,303 77,752 57,351 4,435 209,291 76,857 56,933 4,456 8,578 8,383 8,525 8,698 8,572 6,997 7,105 Total Major holder Commercial banks Finance companies Credit unions Savings institutions Retailers Gasoline companies Pools of securitized assets 3/ Major credit type 4/ Mobile homes Commercial banks Finance companies Other Commercial banks Finance companies Retailers Pools of securitized assets (incl. mobile homes) 3/ 1. The Boardfs series on amounts of credit cover 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. Interest rates are annual percentage rates as specified by Regulation Z. Commercial bank data are simple unweighted averages of each bankfs "most common" rate charged during the first calendar week of the mid-month of each quarter. 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. 3. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originator. 4. Type-of-credit totals include estimates for certain holders for which only consumer credit totals are available. r = revised. p = preliminary. The G.19 Statistical Release is issued around the fifth business day of each month. date and time may be obtained by calling (202) 452-3206. The exact