Full text of G.19 Consumer Credit : November 7, 1995

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FEDERAL RESERVE statistical release
This release is issued around the fifth business.day of each month. The exact date and time may be obtained by calling (202) 452—3206

For release at 3 p.m. (Eastern Time)
November 7, 1995

G. 19

CONSUMER INSTALLMENT CREDIT
September 1995
Growth of outstanding consumer installment credit slowed to $5.4 billion in September from $10.3 billion in August.
Revolving credit growth slowed to $2.8 billion in September- - the smallest gain since December 1994. Auto and "other"
credit also rose less than in August.
MONTHLY CHANGE IN CREDIT OUTSTANDING1
Seasonally adjusted
Amount
(millions of dollars)
Type of credit
1995
r
Jul.
Aug. r
Total
8,646
10,333
4,424
2,046
Automobile
3,229
4,386
Revolving
Other2
3,900
993

Annual rate
(percent)
1995
Aug. r
12.7
7.3
14.0
17.7

Jul.1
10.7
15.9
10.4
4.5

Sep.P
5,416
1,753
2.837
826

TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES3
Percent except as noted, not seasonally adjusted
1994
Institution, terms, and type of loan
Aug.
Nov.
Feb.
May
Commercial banks
Interest rates
48-mo. new car loan
24-mo. personal loan
Credit card plan*
All accounts
Accounts assessed interest
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

Sep.P
6.6
6.2
8.9
3.7

1995
Aug.

Sep.

8.41
13.33

8.75
13.59

9.70
14.10

9.78
14.03

9.44
13.84

n.a.
n.a.

n.a.
n.a.

15.69
15.77

16.14
15.27

16.15
16.23

15.98
15.94

n.a.
n.a.

10.32
13.92

10.53
14.19

11.89
15.06

11.43
14.78

10.85
14.23

10.75
14.12

54.2
50.1

54.6
50.3

54.1
52.0

54.4
52.2

53.5
52.3

53.4
52.3

93
100

93
100

92
99

92
99

92
99

92
100

15,283
10,755

15,971
11,202

15,774
11,181

16,155
11,396

16,056
11,662

16,402
11,725

* Data on credit card rates now are being collected in a new survey that was conducted for thefirsttime for November, 1994. The rates
for all accounts and for accounts assessed interest are described in footnote 3.
Other notes appear on reverse.




CONSUMER INSTALLMENT CREDIT OUTSTANDING
(Millions of dollars)
1W4

Type of credit and holder

Sep.

Oct.

Nov.

1995
Dec.

Jan.

Apr.

May

Jun.

Jul.'

Aug. r

Sep.P

946451
326430
359655
260366

959593
330390
367117
262085

970741
333164
373572
264005

979387
337588
376801
264998

989720
339634
381188
268898

995136
341387
384025
269724

Mar

Feb.

Seasonally adjusted

Total
Automobile
Revolving
Other2

873606
308654
322035
242916

882210
311197
324655
246358

895627
315213
332402
248012

902853
317237
334511
151106

914260
319408
340450
254402

918968
321175
345630
252164

933717
323502
352741
257474

Not seasonally adjusted

Total
Major holders
Commercial banks
Finance companies
Credit unions
Savings institutions
Nonfinancial business4
Pools of securitized assets5

876055

882554

898896

925000

922788

917652

927260

938108

951096

964362

971416

988988

997869

406375
130306
114343
38420
52415
134196

407092
131562
115973
38122
52440
137365

415237
132874
117351
38275
54631
140528

427851
134830
119594
38468
60957
143300

425941
137468
120029
38153
57819
143378

423144
134758
120603
37835
55828
145484

425208
135790
121946
37519
55351
151446

431444
137804
123233
37499
55116
153012

434863
139632
125052
37500
55914
158135

437498
141743
126352
37501
56349
164919

441165
142163
127413
38001
56360
166314

451784
144918
129683
38000
55723
168880

449^02
146202
131203

Major types of credit6
Automobile
Commercial banks
Finance companies
Pools of securitized assets5
Revolving
Commercial banks
Nonfinancial business4
Pools of securitized assets5
Other
Commercial banks
Finance companies
Nonfinancial business4
Pools of securitized assets5

311511
138827
60522
35524
320547
166294
47168
85950
243997
101254
69784
5247
12722

313749
140315
60750
34774
322487
164227
47162
89643
246318
102550
70812
5278
12948

316761
141660
61372
34716
334549
171096
49276
92321
247586
102481
71502
5355
13491

318213
141851
61609
34918
352266
180183
55341
94376
254521
105817
73221
5616
14006

317869
141546
62321
33265
347641
176959
52299
95826
257278
107436
75147
5520
14287

319042
141801
61067
34312
345354
175574
50405
96613
253256
105769
73691
5423
14559

321592
141857
61256
35172
348411
175800
49959
101571
257257
107551
74534
5392
14703

324146
142014
62435
35319

328932
142865
63689
36244
362283
183006
50595
106811
259881
108992
75943
5319
15080

333194
144761
65162
36690
368809
182950
51040
112575
262359
109787
76581
5309
15654

336614
146149
65861
37071
372030
184245
51077
113782
262772
110771
76302
5283
15461

341579
148549
67667
36681
379295
189163
50437
116268
268114
114072
7725 i
5286
15931

344636
148901
68857
37476
382263
185572
48906
123811
270970
115029
77345
5271
17498

355012
180609
49773
103188
258950
108821
75369
5343
14505

38tfH)
54177
178785

1. Coven 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.
3. Interest rates are annual percentage rates (APR) as specified by the Federal Reserve's Regulation Z. Interest rates for new-car loans and personal loans at commercial banks are simple unweighted averages of each bank's most
common rate charged during the first calendar week of the middle month of each quarter. For credit card accounts, the rate for all accounts is the stated APR averaged across all credit card accounts at all reporting banks. The rate for
accounts assessed interest is the annualized ratio of total finance charges a; all reporting banks to the total average daily balances against which the finance charges were assessed (excludes accounts for which no finance charges were
assessed). 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 during the month.
4. Includes retailers and gasoline companies.
5. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators.
6. Includes estimates for holders that do not separately report consumer credit holding by type,
r = revised, p = preliminary.