Full text of G.19 Consumer Credit : October 5, 1978

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FEDERAL

RESERVE

statistical

release
FOR IMMEDIATE RELEASE
OCTOBER 5, 1978

CONSUMER INSTALMENT CREDIT -

AUGUST 1978

CONSUMER INSTALMENT CREDIT OUTSTANDING EXPANDED IN AUGUST BY $2.99 BILLION,
SEASONALLY ADJUSTED, COMPARED WITH $3.30 BILLION IN JULY. THE AUGUST INCREASE WAS THE
SMALLEST SINCE FEBRUARY'S $2.66 BILLION, BUT STILL REPRESENTED A RELATIVELY STRONG
15 PER CENT ANNUAL RATE OF GROWTH. INSTALMENT CREDIT GROWTH AVERAGED ABOUT 16 PER CENT
DURING 1977, BEFORE REACHING 20 PER CENT IN THE SECOND QUARTER OF 1978.
INSTALMENT CREDIT NEWLY EXTENDED EDGED UP BY $330 MILLION IN AUGUST, AFTER
SEASONAL ADJUSTMENT, TO $22.63 BILLION, SLIGHTLY BELOW THE JUNE RECORD. LIQUIDATIONS
ROSE BY A LARGER AMOUNT—$615 MILLION—TO $19.65 BILLION, RESULTING IN THE SLOWER
GROWTH IN CREDIT OUTSTANDING.
LIQUIDATIONS OF AUTOMOBILE CREDIT WERE UP SLIGHTLY MORE THAN EXTENSIONS, SO
THAT THE NET INCREASE OF $1.45 BILLION WAS SOMEWHAT SMALLER THAN THE JULY FIGURE.
NEVERTHELESS, THE AUTO CREDIT SHARE OF TOTAL INSTALMENT CREDIT GROWTH INCREASED SLIGHTLY,
AS EXPANSION ALSO SLOWED FOR BANK-CARD CREDIT AND THE LARGE "ALL OTHER* CATEGORY. HOME
IMPROVEMENT CREDIT EXPERIENCED A STRONGER ADVANCE THAN IN JULY.
CIN MILLIONS OF DOLLARS)
INSTALMENT CREDIT, TOTAL
AMOUNT EXTENDED:
AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK CREDIT CARD
OTHER REVOLVING (1)
ALL OTHER

AUG. 1978 | JULY 1978 | AUG. 1978 | AUG. 1977 I LATEST 12 MONTHS
(SEASONALLY ADJ.)
|
(NOT SEAS.ADJ.)
((NOT SEAS.ADJ.)
22,632|

1

7,3991
546 r
8501
3,4991
6251
9,7131

22,332!

1

AMOUNT LIQUIDATED
NET CHANGE IN AMOUNT
OUTSTANDING:
AUTOMOBILE
MOBILE HOME
HOME IMPROVEMENT
BANK CREDIT CARD
OTHER REVOLVING (1)
ALL OTHER
AMOUNT OUTSTANDING,
END OF MONTH

1,4461
87|
2291
280|
44|
900|

(2)

1
1

|

21,3141

I

I

7,156|
5171
736|
3,4661
599|
9,8581

8,371|
6141
1,0001
3,8251
694|
10,6401

19.0311i

I
I

l
1

I
1

1
19,6461
1
1
2,9861
1

25,1441

1
1
3,3011
1
1,5201
104|
156|
3981
271
1,0961

(2)

1
1

1

19,8081

I
I
5,336!

I

7,0351
5401
856|
2,934|
5551
9,3941

I
I
16,9271

I
I
4,388|

I

252,552
81,652
5,679
8,964
37,854
6,902
111,500
214,354
38,198 (3)

2,2831
139!
3731
5711
133!
It837|

1,724!
99!
303!
4731
1141
l f 674|

(4)
(4)
(4)
(4)
(4)
(4)

I
I

I
I

(2)

242,5381

204,3581

NOTE: CONSUMER INSTALMENT CREDIT CONSISTS OF SHORT- AND INTERMEDIATE-TERM CREDIT
EXTENDED THROUGH REGULAR BUSINESS CHANNELS TO FINANCE THE PURCHASE OF GOODS
AND SERVICES FOR PERSONAL CONSUMPTION, OR TO REFINANCE DEBTS INCURRED FOR
SUCH PURPOSES, ANO SCHEDULED TO BE REPAID IN TWO OR MORE INSTALMENTS•
MORTGAGE CREDIT GENERALLY IS EXCLUDED. DETAILS MAY NOT ADD TO TOTALS DUE TO
ROUNDING.
(1)
BANK CHECK CREDIT AND OTHER BANK REVOLVING CREDIT,
(2)
NOT APPLICABLE.
(3)
A VALUE FOR THE UNADJUSTED NET CHANGE IN OUTSTANDINGS APPEARS ALSO ON THE NEXT
TO LAST COLUMN ON THE NEXT PAGE, BUT MAY VARY SLIGHTLY, DUE TO DIFFERENT
AGGREGATION METHODS.
(4) FOR VALUES SEE THE NEXT TO LAST COLUMN ON THE NEXT PAGE UNDER THE HEADING
"CHANGE FROM END OF AUGUST 1977 AMOUNT N.S.A."



CONSUMER INSTALMENT CREDIT BY HOLDER AND TYPE

AUG. 1978

(IN MILLIONS OF DOLLARS)

L I Q U I D A T E D

E X T E N D E D

INSTALMENT CREDIT, BY
HOLDER AND TYPE

AUG.
1978
S.A.

|
!
|

JULY
1978
S.A.

I
I
I

AUG.
1977
S.A.

AUG.
1978
N.S.A.

!
!
I

JULY 1
1978 I
S.A. t

AUG.
1977
S.A.

19,646!

19,031!

16,553

AUG.
1978
S.A.

AUG.
1978
N.S.A.

I
TOTAL

22,6321

I
I
1
«

BY HOLDER
COMMERCIAL BANKS
FINANCE COMPANIES
CREDIT UNIONS
RETAILERS (2)
OTHERS <3)
BY CREDIT TYPE
AUTOMOBILE, TOTAL
COMMERCIAL BANKS
INDIRECT PAPER
DIRECT LOANS
FINANCE COMPANIES
CREDIT UNIONS
OTHERS
(3)
MOBILE HOME, TOTAL
COMMERCIAL BANKS
FINANCE COMPANIES
HOME IMPROVEMENT, TOTAL
COMMERCIAL BANKS
REVOLVING
BANK CREDIT CARD
BANK CHECK CREDIT
ALL OTHER, TOTAL
COMM. BANKS, TOTAL
PERSONAL LOANS
FINANCE COS., TOTAL
PERSONAL LOANS
CREOIT UNIONS

11,4741
4,2141

3,27l|
2,9951
6781

I
I
I

7,399|

22,332!

!
I
!
I

11,315|
4,0781

3,128)
3,300]
511!

7,1561

I

4,3491
2,3701
1,979|
1,324!

4,267!
2,329!
1,938!

1,6441

1,624!
57!

1,2081

I

!

5461

3101

5171
I
334|

781

811

I
I

8501
I
4291

I
I
t

3,499|
6251

I

9,7131

25,144

I

19,808

2986)

9,425
3,459
2,806
2,840
673

12,735
4,642
3,938
3,137
692

9,829)
3,6071
2,7631
2,950!
497!

6,157

8,371

5,953!

9,400!
3,473!
2,7591
2,936!
463!

5,6361

7,979
3,138
2,333
2,670
433

9,961
3,627
2,809
2,914
497

1645(
607!
508!
45|
1811

5,104

6,088

3,615
1,925
1,690
1,036
1,434
72

4,822
2,639
2,183
1,505
1,978
66

3,455!
1,9061
1,549!
1,064!
1,383!
51!

3,330)
1,776!
1,554!
8371
1,418)
51!

2,892

1,197
45

3,538
1,937
1,601
1,079
1,418
53

479

614

459!

4131

424

475

1,570
1,322
970

267
55

352
89

284)
711

2551
67|

264
73

296
73

733

1,000

6211

580|

551

627

270

314

3,068!
572!

2,396
450

3,254
561

8,813)

8,762!

7,628

6,803

1,984)
1,433|
2,464!
1,958!
1,232!
2,9501
1831

1,886!
1,354!
2,5631
1,9731
1,202!
2,9361
175!

1,707
1,243
2,089
1,684
1,008
2,670
155

1,998
1,436
2,468
1,967
1,241
2,914
182

516

306(

2,711
510

3,825
694

3,219!
581!

8,612

10,640

1,990
1,404
2,361
1,870
1,207
2,840
214

2,526
1,788
3,030
2,405
1,714
3,137
233

332

289(

390!

I
I
!

3,466!
599!

!

I

9,858!

2,2621
1,5871
2,793J
2,194|
1,4441
2,995|
219|

2,259(
I t 5741
2,773!
2,2111
lt335!
3,3001

!

119,889
48,982
42,931
20,655
10,061

16,928

22.3

54,224
30,202
24,022
16,753
21,314
665

9,962
5,925
4,037
2,970
3,902
95

22.5
24.4
20.2
21.5
22.4
16.7

15,577

765

5.2

I

9,117
3,139

323
25

3.7
•8

261
7!

14,633

2,305

18.7

7,331

1,173

19.0

15,857
4,178

3,630
769

29.7
22.6

99,337

13,783

16.1

29,182
19,655
28,898
23,344
17,984
20,655
2,618

3,973
2,417
3,947
3,226
3,287
2, 180
397

15.8
14.0
15.8
16.0
22.4
11.8
17.9

!
894(
464!
4301
2601
2611
311

!
87!

1
229)

1
123)

1
I
I
2801
441

1
9001

MUTUAL SAVINGS BANKS, SAVINGS AND LOAN ASSOCIATIONS, AND AUTO DEALERS.
NOTE:




19,829 [ 19.8
6,995| 16.7
7,854
22.4
2,1801
11.8
1,321| 15.1

92,956

14461

I

,

278!
RETAILERS
1541
OTHERS
329!
236fi
191(
212!
CI)
NET CHANGES FOR ALL MONTHS EQUAL EXTENSIONS MINUS L I Q U I D A T I O N S (REPAYMENTS, CHARGEOFFS, AND OTHER 45!
CREDITS).
C2)
EXCLUDES 30-DAY CHARGE CREDIT HELD BY RETAILERS, O I L AND GAS COMPANIES, AND TRAVEL AND ENTERTAINMENT
361 COMPANIES.

(3)

18.7

I
1
I

736!

I

N38,180

I
1
!
1

I
I
»

»

82!

19,202

NET » O U T S T A N D I N G
CHG I
AUG. I END H E |CHANGE FROM END
AU6. ) | OF AUG. 1977
1978)
S.A.I
JL97& I AMOUNT! PER
(1) t N.S.A. I N.S.A.| CENT

S . A . AND N . S . A . DENOTE SEASONALLY ADJUSTED AND NOT SEASONALLY ADJUSTED DATA,
DETAILS MAY NOT ADD TO TOTALS DUE TO ROUNDING.

RESPECTIVELY.