Full text of G.19 Consumer Credit : September 13, 1983

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FEDERAL RESERVE statistical release
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For immediate release
September 1 3 , 1983

G.19

CONSUMER INSTALLMENT CREDIT
Consumer installment credit outstanding increased during July by a record
$4.84 billion, seasonally adjusted, equivalent to an annual rate of growth of 16-1/2 percent,
That was the highest rate of increase since an 18-1/2 percent advance in February 1979.
Automobile credit outstanding expanded at a rate of more than 21 percent in July,
and revolving credit — primarily credit card debt — grew by nearly 15 percent. The
large "other" category, composed mostly of personal cash loans, sales finance contracts,
and home improvement loans, expanded at a 13-1/4 percent annual rate.
FLOWS OF CREDIT
Millions of dollars
(seasonally adjusted)

Total
Automobile
Revolving
Mobile home
Other

Annual Rat«e of Growth
(percent)
1983

Net Change in
Amount Outstanding
1983
July

June

4,840
2,421

4,406
1,973
1,210

821
141
1,457

151
1,072

May

July

June

May

2,,696
1,,313
514
17
852

16.4
21.4
14.8

15 .1
17 .7
22 .2
9 .3
9 .8

9.3
11.9
9.5
1.0
7.8

8.6
13.2

1982

1983
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TERMS OF CREDIT
(not seasonally

adjusted)

Interest rates 1/
Commercial banks 2/
4 8 - m o . new-car loan
24-mo. personal loan
120-mo. obile home loan
Credit card plan
Auto finance companies 3/
New-car loan
Used-car loan
Other terras at
auto finance companies
Maturity (months)
N e w - c a r loan
Used-car loan
Loan-to-value ratio (%)
New-car loan
Used-car loan
Amount financed
{$)
New-car loan
Used-car loan




August

13.50
16.28
15.58
18.75

July

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

June

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

May

13.90
16.57
15.84
18.79

April

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

August

i

n. a.
18.93
n. a.
18.73

n. a.
n. a.

11.84
18.28

11.57
18.58

11.94
18.76

11.90
18.91

17.83
20.98

n.a.
n. a.

45.7
38.0

45.6
38.0

45.4
37.9

45.8
37.7

46.0
36.9

n. a.
n. a.

87
93

87
92

86
92

86
91

85
90

n. a.
n.a.

8,642
5,052

8,512
5,0 39

8,572
4,984

8,662
4,869

8,189
4,806

CONSUMER INSTALLMENT CREDIT BY HOLDER AND TYPE
(Millions of dollars except as noted)

Installment credit
holder and type

Net change during
July
June
July
1983
1983
1983
S.A.
S.A.
N.S.A.

Outstanding at end of
July
July
July
1983
1983
1982
S.A.
N.S.A.
N.S.A.

Change from end of
July 1982
amount
percent

4,840

4,406

5,008

359,571

358,020

333,285

24,735

7.4

2,766
909
662
272
188
5
38

2,422
470
573
368
456
77
40

3,063
970
487
96
162
197
33

160,487
96,912
49,411
28,803
16,503
4,168
3,287

159,666
97,319
49,139
27,900
16,369
4,356
3,271

147,559
93,353
45,698
26,710
12,520
4,600
2,845

12,107
3,966
3,441
1,190
3,849
-244
426

8.2
4.2
7.5
4.5
30.7
-5.3
15.0

2,421
1,482
611
328

1,973
1,284
414
275

2,506
2,137
718
233

138,244
63,300
51,300
23,644

138,689
64,007
51,762
23,502

128,110
57,882
48,376
21,852

10,579
6,125
3,386
1,650

8.3
10.6
7.0
7.5

Revolving
Commercial banks
Retailers 4/
Gasoline companies

821
556
260
5

1,210
806
327
77

957
529
102
197

67,402
38,077
25,157
4,168

65,856
37,044
24,327
4,356

60,556
32,937
23,019
4,600

5,300
4,107
1,308
-244

8.8
12.5
5.7
-5.3

Mobile home
Commercial banks
Finance companies
Savings and loans
Credit unions

141
68
7
59
7

151
28
-6
123
6

103
66
-13
45
5

19,806
9,713
5,012
4,557
524

19,750
9,717
4,982
4,530
521

18,721
9,977
4,801
3,457
486

1,029
-260
181
1,073
35

5.5
-2.6
3.8
31.0
7.2

1,457
660
291
327
12
129
38

1,072
304
62
292
41
333
40

1,442
185
265
249
-6
117
33

134,119
49,397
40,600
25,243
3,646
11,946
3,287

133,725
48,752
40,575
25,116
3,573
11,839
3,271

125,898
46,763
40,176
23,360
3,691
9,063
2,845

7,827
1,989
399
1,756
-118
2,776
426

6.2
4.3
1.0
7.5
-3.3
30.6
15.0

Total
By major holder
Commercial banks
Finance companies
Credit unions
Retailers 4/
Savings and loans
Gasoline companies
Mutual savings banks
By major credit type
Automobile
Commercial banks
Finance companies
Credit unions

Other
Commercial banks
Finance companies
Credit unions
Retailers 4/
Savings and loans
Mutual savings banks

1. Interest rates are annual percentage rates as specified by Regulation Z.
2. Commercial bank data are simple unweighted averages of each bank's "most common" rate charged
during the first calendar week of the month.
3. 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.
4. Includes auto dealers and excludes 30-day charge credit held by travel and entertainment
companies.
5. n.a.= Data not available.
S.A.= Seasonally adjusted.
N.S.A.= Not seasonally adjusted.
NOTE: The Board's series on amounts of credit covers most short- and intermediate-term credit
extended to individuals through regular business channels, usually to finance the purchase
of consumer goods and services or to refinance debts incurred for such purposes, and scheduled to
be repaid (or with the option of repayment) in two or more installments.