Full text of G.19 Consumer Credit : September 17, 1985

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FEDERAL RESERVE statistical release
For immediate release
September 17, 1985

G.19
CONSUMER INSTALLMENT CREDIT

Consumer Installmenk^credit outstanding rose $6.2 billion in July, seasonally
adjusted, up from the revised $5.2 billion June increase.
The annual rate of growth
in July was 15.0 percent, somewhat more rapid than the 12.7 percent June pace but
still below average monthly gains earlier in the year. During the second quarter,
installment credit outstanding advanced at a 18.9 percent annual rate.
Automobile credit increased $2.4 billion, seasonally adjusted, after rising
$2.7 billion in June. Revolving credit expanded $0.9 million in July following the
small decline in June. The $3.0 billion July advance in "other" plus mobile home
credit was above the $2.6 billion gain in the prior month.

Annual Rate of Growth
(percent)

Net Change in
Amount Outstanding

1985

1985

Flows Of Credit
Millions of dolalrs
(seasonally adjusted)

July

June(r)

Total
Automobile
Revolving
Mobile home
Other

6,247
2,365
856
324
2,702

5,227
2,686
-73
196
2,418

May

July

June(r)

9,042
3,792
2,429
186
2,635

15.0
14.8
9.6
15.4
18.4

12.7
17.0
-0.8
9.4
16.7

1985
TERMS OF CREDIT
(not seasonally adjusted)
Interest rates 2/
Commercial banks 3/
48-mo. new-car loan
24-mo. personal loan
120-mo. mobile home loan
Credit card plan
Auto finance companies 4/
New-car loan
Used-car loan
Other terms at
auto finance companies 4/
Maturity (months)
New-car loan
Used-car loan
Loan-to-value ratio (%)
New-car loan
Used-car loan
Amount financed
($)
New-car loan
Used-car loan




Aug.

July

May

22.4
24.5
28.0
9.0
18.5
1984

June

May

July

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

13.16
16.09
15.03
18.74

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

11.87
17.84

14.68
17.77

12.72
15.84
14.72
18.62

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

n.a.
n.a.

12.46
17.49

12.06
17.77

n.a.
n.a.

51.7
41.5

51.3
41.3

50.9
41.4

n.a.
n.a.

91
95

91
94

91
94

n.a.
n.a.

10,355
6,146

9,965
6,116

9,775
6,117

48.6
39.8
88
92
9,377
5,763

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

Installment credit
holder and type

Total

Net change during
July
June(r) July
1985
1985
1985

Outstanding at end of
July
July
July
1985
1985
1984
S.A.
N.S.A.
N.S.A.

Change from end of
July 1984
amount
percent

6,247

5,227

8,021

505,764

503,834

422,008

81,826

19.4

1,824
1,629
1,149

1,690
1,218

233,897
107,812
74,764
38,348
37,542
4,056
9,345

232,913
107,985
74,614
37,399
37,301
4,316
9,306

195,265
92,534
61,151
35,058
26,057
4,472
7,471

37,648
15,451
13,463
2,341
11,244
-156
1,835

19.3
16.7
22.0
43.2
-3.5
24.6

194,268
95,902
62,607
35,759

194,678
95,763
63,228
35,687

161,834
80,103
52,483
29,248

32,844
15,660
10,745
6,439

20.3
19.5
20.5
22.0

107,393
69,288
34,049
4,056

105,539
68,093
33,130
4,316

86,003
50,358
31,173
4,472

19,536
17,735
1,957
-156

22.7
35.2

By major holder

112

797
-31

1,338

1,417

3,237
2,014
1,146
-149
1,400

21
174

-51
187

241
132

2,365
1,025

2,686
1,488

790
550

818
380

3,363
1,664
1,151

Revolving
Commercial banks
Retailers 5/
Gasoline companies

856
733
102
21

-73
42
-64
-51

1,206
1,137
-172

Mobile home
Commercial banks
Finance companies
Saving8 and loans
Credit unions

324
-22
74
261
11

196
-31
1
217
9

340
13
85
230
12

25,588
9,457
9,175
6,166

25,545
9,493
9,146
6,117

24,639
9,681
9,883
4,428

906

3.7

-188
-737
1,689

790

789

647

142

-1.9
-7.5
38.1
21.9

2,702

2,418

3,112

88
765
588
10

191
399
408
33

423
778
586
23

1,200

1,170

174

187

132

178,072
59,564
35,611
38,138
4,269
31,184
9,306

149,532
55,123
30,168
31,256
3,885
21,629
7,471

28,540
4,441
5,443
6,882

1,077

178,515
59,250
36,030
38,215
4,299
31,376
9,345

Commercial banks
Finance companies 1/
Credit unions
Retailers 5/
Savings and loans
Gasoline companies
Mutual savings banks

6.7

By major credit type
Automobile
Commercial banks
Finance companies
Credit unions

Other
Commercial banks
Finance companies 1/
Credit unions
Retailers 5/
Savings and loans
Mutual savings banks

548

241

6.3
-3.5

19.1

8.1
18.0
22.0

384

9.0

9,555
1,835

44.2
24.6

1. Loans secured by real estate at finance companies —excluded from the above series— for
July 1985 are estimated as $28.1 billion, seasonally adjusted, and $28.7 billion not seasonally
adjusted.
2. Interest rates are annual percentage rates as specified by Regulation Z.
3. Commercial bank data are simple unweighted averages of each bank's "most common** rate charged
during the first calendar week of the month.
4. 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.
5. Includes auto dealers and excludes 30-day charge credit held by travel and entertainment
companies.
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 coasumer 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.
The G.19 Statistical Release is issued about the middle of each month. The exact date and time
of each monthly release will be announced, when the Information is available, on (202) 452-3206.