Full text of G.19 Consumer Credit : November 7, 2006

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G.19

CONSUMER CREDIT

For release at 3 p.m. (Eastern Time)

September 2006

November 7, 2006

Consumer credit increased at an annual rate of 3-1/2 percent in the third quarter. In September, consumer credit decreased at an annual rate of 1/2 percent, as an increase in revolving credit was offset by a
decrease in nonrevolving credit.1

CONSUMER CREDIT OUTSTANDING2
Seasonally adjusted
2005

Percent change at annual rate3
Total
Revolving
Nonrevolving4
Amount: billions of dollars
Total
Revolving
Nonrevolving4

r
2001

r
2002

r
2003

r
2004

r
2005

8.7
4.9
11.2

6.0
4.5
7.0

5.2
2.9
6.6

5.5
4.0
6.4

4.1
3.0
4.7

4.5
3.6
5.0

2.2
4.1
1.2

2.2
-0.4
3.6

6.8
10.1
4.9

3.5
5.8
2.2

6.5
6.7
6.4

4.6
6.7
3.5

-0.6
4.0
-3.2

1,871.9
716.4
1,155.5

1,985.0
748.9
1,236.1

2,088.7
770.5
1,318.3

2,204.1
801.0
1,403.2

2,294.3
825.2
1,469.2

2,281.8
816.9
1,464.9

2,294.3
825.2
1,469.2

2,306.7
824.2
1,482.5

2,345.7
845.1
1,500.6

2,366.3
857.4
1,508.9

2,358.4
849.8
1,508.6

2,367.5
854.5
1,513.0

2,366.3
857.4
1,508.9

Q3

r

2006
Q4

r

Q1

r

Q2

r

Q3

p

r
Jul

Aug

r

Sep

p

TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES5
Percent except as noted: not seasonally adjusted
Institution, terms, and type of loan
Commercial banks
Interest rates
48-mo. new car
24-mo. personal
Credit card plan
All accounts
Accounts assessed interest

8.50
13.22

7.62
12.54

6.93
11.95

6.60
11.89

7.08
12.05

7.08
12.22

7.43
11.95

7.39
12.18

7.60
12.58

7.95
12.40

n.a.
n.a.

7.95
12.40

n.a.
n.a.

14.87
14.46

13.40
13.11

12.30
12.73

12.71
13.21

12.51
14.54

12.48
14.75

12.58
14.49

13.30
14.38

13.16
14.77

13.06
14.67

n.a.
n.a.

13.06
14.67

n.a.
n.a.

New car loans at auto finance companies
Interest Rates
5.65
Maturity (months)
55.1
Loan-to-Value Ratio
91
Amount financed (dollars)
22,822

4.29
56.8
94
24,747

3.40
61.4
95
26,295

4.36
60.5
89
24,888

5.46
60.0
88
24,133

5.80
60.2
88
24,575

5.97
61.1
89
24,363

5.34
61.8
90
24,926

5.62
61.0
90
25,300

3.24
64.2
93
27,111

2.07
66.5
96
28,052

3.69
62.9
91
26,468

3.97
63.3
92
26,813

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.
Footnotes appear on reverse.

CONSUMER CREDIT OUTSTANDING
(Billions of dollars)
Not seasonally adjusted

r
2001
Total

r
2002

r
2003

r
2004

r
2005

2005
r
r
Q3
Q4

Q1

r

Q2

r

2006
p
r
Q3
Jul

Aug

r

Sep

p

1,899.6 2,013.0 2,117.0 2,233.9 2,325.3 2,288.1 2,325.3 2,293.9 2,328.8 2,372.8 2,340.8 2,365.1 2,372.8

Major holders
Total
1,899.6 2,013.0 2,117.0 2,233.9 2,325.3 2,288.1 2,325.3 2,293.9 2,328.8 2,372.8 2,340.8 2,365.1 2,372.8
Commercial banks
568.4 602.6 669.4 704.3 707.0 708.2 707.0 697.5 694.7 704.8 699.4 711.3 704.8
Finance companies
280.0 307.5 393.0 492.3 516.5 508.4 516.5 499.6 506.8 523.7 513.7 522.8 523.7
Credit unions
189.6 195.7 205.9 215.4 228.6 229.5 228.6 227.3 230.4 233.9 231.9 234.0 233.9
Federal government and Sallie Mae 119.5 129.6 114.7
98.4 102.1 103.9 102.1 104.5 102.6 105.4 101.6 102.4 105.4
Savings institutions
71.1
68.7
77.9
91.3 109.1
99.4 109.1
98.1 101.9 102.8 102.2 102.5 102.8
Nonfinancial business
73.1
74.8
58.5
58.5
58.6
56.9
58.6
54.9
52.6
51.8
51.7
52.2
51.8
598.0 634.1 597.7 573.8 603.3 581.7 603.3 612.1 639.7 650.4 640.4 639.9 650.4
Pools of securitized assets6
Major types of credit
Revolving
Commercial banks
Finance companies
Credit unions
Federal government and Sallie Mae
Savings institutions
Nonfinancial business
Pools of securitized assets6

736.0
234.9
34.8
22.3
n.a.
17.9
34.9
391.2

769.1
246.4
44.4
22.2
n.a.
16.3
37.1
402.7

791.3
285.0
45.3
22.4
n.a.
23.8
14.5
400.2

823.4
314.6
50.4
23.2
n.a.
27.9
11.7
395.5

848.3
311.2
66.3
24.7
n.a.
40.8
10.8
394.5

815.5
300.6
57.7
23.2
n.a.
29.9
13.1
391.1

848.3
311.2
66.3
24.7
n.a.
40.8
10.8
394.5

814.9
281.1
63.7
23.3
n.a.
39.7
10.3
396.7

840.5
291.0
69.5
24.7
n.a.
41.4
7.6
406.3

856.0
297.2
71.4
26.0
n.a.
42.3
6.7
412.4

844.3
295.3
70.5
25.1
n.a.
41.7
6.7
405.1

853.7
300.1
70.7
25.6
n.a.
42.0
6.7
408.6

856.0
297.2
71.4
26.0
n.a.
42.3
6.7
412.4

Nonrevolving
1,163.6 1,243.9 1,325.8 1,410.6 1,476.9 1,472.6 1,476.9 1,479.0 1,488.3 1,516.8 1,496.5 1,511.4 1,516.8
Commercial banks
333.5 356.2 384.4 389.6 395.8 407.7 395.8 416.4 403.7 407.6 404.1 411.3 407.6
Finance companies
245.1 263.1 347.8 442.0 450.2 450.7 450.2 435.8 437.3 452.3 443.2 452.1 452.3
Credit unions
167.3 173.5 183.5 192.1 203.9 206.3 203.9 204.0 205.7 207.9 206.8 208.4 207.9
Federal government and Sallie Mae 119.5 129.6 114.7
98.4 102.1 103.9 102.1 104.5 102.6 105.4 101.6 102.4 105.4
Savings institutions
53.2
52.4
54.0
63.4
68.3
69.5
68.3
58.4
60.5
60.5
60.5
60.5
60.5
Nonfinancial business
38.2
37.7
44.0
46.8
47.8
43.8
47.8
44.6
45.0
45.1
45.1
45.4
45.1
Pools of securitized assets6
206.8 231.4 197.5 178.3 208.8 190.6 208.8 215.4 233.4 237.9 235.3 231.3 237.9

1. Data on nonfinancial business and pools of securitized assets are revised back to December 1999.
2. Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate.
3. The series for consumer credit outstanding and its components may contain breaks that result from discontinuities in source data. Percent changes are adjusted to exclude the effect
of such breaks. In addition percent changes are at a simple annual rate and are calculated from unrounded data.
4. Includes automobile loans and all other loans not included in revolving credit, such as loans for mobile homes, education, boats, trailers, or vacations. These loans may be
secured or unsecured.
5. 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 at 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.
6. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators.
r=revised. p=preliminary.