Full text of G.19 Consumer Credit : September 4, 1987

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* p f GOy,

FEDERAL RESERVE statistical release
For immediate release
September 4, 1987

G.19

CONSUMER INSTALMENT CREDIT
Consumer installment credit outstanding rose $3.46 billipn in July after
increasing $4.55 billion in June. The annual rate of growth in July was 7.1 percent as
compared with 9.4 percent in June. The growth in automobile and "other" credit slowed
somewhat in July while revolving and mobile home credit advanced a bit more rapidly.

FLOWS OF CREDIT
(seasonally adjusted)

Total
Aut omob ile
Revolving
Mobile home
Other

Net change in
amount outstanding
(millions of dollars)

Annual rate of growth
(percent)

1987

1987

JulyP

June

3,455

4,545
2,553

July^

May
-318

173

532
143

-85
163
-84

1,028

1,318

-312

951
1,303

7.1
4.6
11.4

8.1
7.1

1987

TERMS OF CREDIT
(not s e a s o n a l l y adjusted)
I n t e r e s t r a t e s 1/
Commercial banks 2 /
48-mo. new-car loan
24-mo. personal loan
120-mo. mobile home loan
Credit card plan
Auto finance companies 3 /
New-car loan
Used-car loan
Other terms at
auto finance companies 3 /
Maturity (months)
New-car loan
Used-car loan
Loan-to-value r a t i o (percent)
New-car loan
Used-car loan
Amount financed
(dollars)
New-car loan
Used-car loan




August

July

June

9.4

May

12.4

-0.7
-0.4

4.7
6.7
9.1

-3.9
-2.2

1.4

1986

June

" "
„„_.-

May

10.37
14.22
13.24
17.85

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

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

10.24
14.00
13.23
17.93

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

n.a.
n.a.

10.52
14.53

0.64
14.47

0.69
14.45

9.31
15.83

n.a.
n.a.

53.4
45.5

53.6
45.4

53.5
45.2

49.9
42.8

n.a.
n.a.

93
98

93
98

93
98

89
97

n.a.
n.a.

11,267
7,527

11,214
7,479

11,176
7,373

10,748
6,614

CONSUMER INSTALMENT CREDIT, BY HOLDER AND TYPE 4/
Millions of dollars except as noted
Net change during month
July*
1987
S.A.
Total

3,455

June
1987
S.A.

JulyP
1987
N.S.A.

Outstanding at end of month
JulyP
1987
S.A.

JulyP
1987
N.S.A.

July
1986
N.S.A.

Change from end of
July 1986
Percent

Amount

4,545

4,790

591,276

591,176

557,829

33,347

6.0

933

1,098
1,818
1200

264,996
138,745
81,682
61,910
40,364
3,580

264,778
139,811
81,543
61,941
39,370
3,733

255,551
128,293
74,727
56,523
39,177
3,558

9,227
11,518
6,816
5,418

3.6
9.0
9.1
9.6
0.5
4.9

251,081
102,834
94,455
40,946
12,846

n.a.
103,502
95,843
n.a.
n.a.

n.a.
96,570
84,301
n.a.
n.a.

n.a.
6,932
11,542
n.a.
n.a.

n.a.

138,704
88,643
8,228
36,021
3,580
2,232

n.a.
87,269
n.a.
35,063
3,733
n.a.

n.a.
82,701
n.a.
34,881
3,558
n.a.

n.a.
4,568
n.a.

n.a.

182
175

0.5
4.9

n.a.

n.a.

25,858
8,624
8,839
8,395

n.a.
8,645
8,821
n.a.

n.a.
9,148
9,396
n.a.

n.a.
-503
-575
n.a.

n.a.
-5.5
-6.1
n.a.

175,633
64,895
35,452
38,503
32,441
4,343

n.a.
65,362
35,147
n.a.
n.a.
4,307

n.a.
67,132
34,596
n.a.
n.a.
4,296

n.a.
-1,770

n.a.
-2.6

Major holder
Commercial banks
Finance companies 5/
Credit unions
Savings institutions
Retailers
Gasoline companies

600
707
1,097

1,641
1,109

927
77
48

938
-31
-44

-250

Automobile
Commercial banks
Finance companies
Credit unions
Savings institutions

951
24
184
550
192

2,553

n.a.

621

641

1,181

1,290
n.a.
n.a.

Revolving 7/
Commercial banks
Savings institutions
Retailers
Gasoline companies
Credit unions

1,303
1,053

123
50
48
30

532
458
125
-37
-44
30

Mobile home
Commercial banks
Finance companies
Savings institutions

173
15
32
126

143
-6
21
127

n.a.

Other
Commercial banks
Finance companies
Credit unions
Savings institutions
Retailers

1,028
-492

1,318
-140

n.a.
-182

490
517
486
27

438
523
492
6

n.a.
n.a.

714
210

193
175

Major credit type 6/

556
195

n.a.

572
n.a.
-261

210
n.a.

67
84
n.a.

444

11

7.2
13.7
n.a.
n.a.

5.5
n.a.

551

1.6

n.a.
n.a*

n.a.
n.a.

11

0.3

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 commmon11 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. The Board's series on amounts of credit 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. Includes outstanding balances on some
securitized consumer loans originated by financial institutions.
5. More detail for finance companies is available in the G.20 Statistical Release, Finance
Companies.
6. Not seasonally adjusted data are unavailable by type of credit for certain holders. In these
cases, the seasonally adjusted total for the holder group has been allocated among the components
using the latest available benchmark information.
7. Excludes 30-day charge credit held by travel and entertainment companies.
n.a.* Data not available.
S.A.* Seasonally adjusted,
r = revised.
p * preliminary.

N.S.A.88 Not seasonally adjusted.

The G.19 Statistical Release is issued around the fifth working day of each month,
date and time may be obtained by calling (202) 452-3206.



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