Full text of G.19 Consumer Credit : October 7, 1994

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FEDERAL RESERVE statistical release
Tliis release is issued around the fifth business day of each month. The exact date and time may be obtained by calling ( 2 0 2 ) 452—3206

f^ug^V

For release at 4 p.m. (Eastern Time)
October 7, 1994

G. 19

CONSUMER INSTALLMENT CREDIT
August 1994
Consumer installment credit outstanding rose $11.2 billion in August, following a $7.7 billion increase in July.
Revolving credit expanded $6.9 billion in August and outstanding automobile loans rose $3.0 billion. All "other" consumer
credit increased $1.4 billion in August.
MONTHLY CHANGE IN CREDIT OUTSTANDING1
Seasonally adjusted
Amount
(mill ions of dollars)
Type of credit
1994
June
Julyr
7,704
11,156
Total
3,725
4,969
Automobile
4,002
4,509
Revolving
2,186
-530
Other2

Aug. P
11,199
2,973
6,875
1,351

Annual rate
(percent)
1994
Julyr
10.9
14.8
17.3
-2.7

June
16.0
20.1
15.6
11.2

Aug.P
15.7
11.7
26.0
6.9

TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES3
Percent except as noted, not seasonally adjusted
1993
Institution, terms, and type of loan
July
Aug.
Nov.
May

1994
July

Aug.

Commercial banks
Interest rates
48-mo. new car loan
24-mo. personal loan
120-mo. mobile home loan
Credit card plan
Autofinancecompanies
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
Notes appear on reverse.




n.a.
n.a.
n.a.
n.a.

7.98
13.45
11.53
16.59

7.63
13.22
11.55
16.30

7.76
12.96
11.60
16.15

n.a.
n.a.
n.a.
n.a.

8.41
13.33
12.04
16.25

9.37
12.46

9.21
12.48

8.96
12.41

9.92
13.51

10.17
13.86

10.32
13.92

54.7
49.0

54.9
49.0

54.5
48.4

53.5
50.6

53.9
50.2

54.2
50.1

91
98

91
99

91
98

93
99

93
100

93
100

14,430
9,996

14,324
10,104

14,839
10,230

15,194
10.606

15,319
10,735

15,283
10,755

CONSUMER INSTALLMENT CREDIT OUTSTANDING
(Millions of dollars)
1994

1993

Type of credit and holder

Aug.

Sept.

Oct.

Nov.

Dec.

Mar.

Apr.

May

June

Julyr

Aug.P

817173
287912
299218
230043

827288
292738
304381
230168

838748
296566
308590
233593

849904
301534
312591
235778

857608
305260
317100
235248

868808
308233
323975
236600

Feb.

Jan.

Seasonally adjusted

Total
Automobile
Revolving
Other2

762156
2703II
275430
216415

772045
27338?
279324
219338

779220
277737
281486
219996

786911
280561
285508
220842

795573
281504
287970
226099

800912
283453
290807
226651

805787
284388
294461
226938

Not seasonally adjusted

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

761488

773778

779635

788453

813864

808010

805015

812477

821754

831515

843915

851572

867970

346252
111863
98056
35920
48145
121252

351673
112645
98893
37398
48871
124298

354169
112602
99341
37633
49839
126051

360286
114800
98501
37856
51909
125101

368549
117463
101634
38078
57637
130503

367883
117936
100554
38328
55228
128081

366712
118095
100984
38578
53453
127193

369710
120061
102683
38828
53410
127785

376379
122845
104153
39078
53756
125543

380063
120775
107423
39255
54505
129494

386235
122996
110349
39400
55374
129561

393927
123769
111571
39600
55775
126930

403046
124982
113125
39500
56496
130821

271502
118095
55247
37171
273786
136874
42956
73218
216200
91283
56616
5189
10863

275402
120523
55057
37984
278000
138262
43663
75039
220376
92888
57588
5208
11275

279885
122326
54324
40233
279605
138685
44637
75012
220145
93158
58278
5202
10806

280894
122660
55337
39140
286726
143353
46641
75369
220833
94273
59463
5268

282291
123358
55274
39490
303430
149527
52113
79887
228143
95664
62189
5524
11126

282418
124238
56509
37426
296852
145673
49757
79444
228740
97972
61427
5471
11211

283429
124449
56963
36599
294112
144274
48017
79597
227474
97989
61132
5436
10997

287476
126949
57797
36613
296023
145701
47937
79768
228978
97060
62264
5473
11404

291352
130104
59458
34531
300457
149265
48279
79927
229945
97010
63387
5477
11085

295066
132979
56614
35836
304586
149972
49005
82064
231863
97112
64161
5500
11594

300745
136038
56932
35817
309012
153032
49845
82075
234158
97165
66064

304352
138907
57686
34436
313257
156940
50218
81704
233963
98080
66083
5557
10790

309546
142452
57297
34584
322012
160899
50873
85644
236412
99695
67685
5623
10593

10592

5529
11669

1. 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.
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 as specified by the Federal Reserve's Regulation Z. Interest rates 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. 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.