Full text of G.19 Consumer Credit : September 8, 1992

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FEDERAL RESERVE statistical release
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This 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.

For immediate release
September 8,1992

G. 19

CONSUMER INSTALLMENT CREDIT
July 1992
Consumer installment credit outstanding declined $1.1. billion in July, following a $0.3 billion decrease in June.
Revolving credit was virtually unchanged in July and other credit was down $1.5 billion. Auto credit outstanding rose
$0.5 billion in July.
MONTHLY CHANGE IN CREDIT OUTSTANDING1
Seasonally adjusted
Amount
Type of credit
(millions of dollars)
1992
May
June1
-278
Total
-893
-2,594
-542
Automobile
1,152
Revolving
316
Other2
-667
1,165

May
-1.5
-2.5
1.5
-3.7

Annual rate
(percent)
1992
June1
-0.5
-12.0
5.6
6.4

JulyP
-1.9
2.4
-0.7
-8.3

TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES3
Percent except as noted, not seasonally adjusted
1991
July
Aug.
May
Institution, terms, and type of loan

1992
July

Aug.

Commercial banks
Interest rates
48-mo. new car loan
24-mo. personal loan
120-mo. mobile home loan
Credit card plan
Auto finance companies
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.




JulyP
-1,122
521
-143
-1,500

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

11.06
15.24
13.73
18.24

9.52
14.28
12.82
17.97

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

9.15
13.94
12.57
17.66

12.55
15.66

12.40
15.63

10.67
14.01

9.94
13.67

n.a.
n.a.

55.5
47.4

55.4
47.2

54.7
47.9

54.4
48.0

n.a.
n.a.

88
96

88
97

89
97

89
97

n.a.
n.a.

12,572
8,989

12,518
8,902

13,373
9,247

13,570
9,293

n.a.
n.a

CONSUMER INSTALLMENT CREDIT OUTSTANDING
(Millions of dollars)
1991

Type of credit and holder

July

Aug.

Sept.

Oct.

Nov.

1992
Feb.

Mar.

Apr.

May

June1

JulyP

728395
261659
245974
220762

727404
262125
245259
220020

723821
260376
245905
217541

722928
259834
246220
216874

722651
257240
247372
218038

721529
257761
247229
216538

Jan.

Dec.

Seasonally adjusted

Total
Automobile
Revolving
Other2

728823
268897
234654
225273

727311
266620
236294
224396

727449
264621
238987
223842

729225
264420
241436
223369

727960
262383
242573
223004

727799
263003
242785
222012

728618
263134
244288
221196

Not iseasonally adjusted

Total
Major holders
Commercial banks
Finance companies
Credit unions
Savings institutions
Retailers
Gasoline companies
Pools of securitized assets4
Major types of credit5
Automobile
Commercial banks
Finance companies
Pools of securitized assets4
Revolving
Commercial banks
Retailers
Gasoline companies
Pools of securitized assets4
Other
Commercial banks
Finance companies
Retailers
Pools of securitized assets4

725814

728818

729810

729782

729758

742058

733294

725882

721091

718676

718420

719578

718310

332541
127414
91,490
43,142
37,488
4,712
89,027

333655
128629
92,329
42,014
38,091
4,857
89,243

333417
125299
92,605
41,138
38,070
4,753
94,528

334835
124299
92,128
41,691
38,147
4,529
94,153

333272
123228
91,849
41,337
39,460
4,388
96,224

339565
121901
92,254
40,315
44,030
4,362
99,631

335320
119208
91,894
39,448
41,567
4,377
101482

330464
120281
91,469
38,479
40,015
4,151
101024

327697
118352
91,164
37,142
39,454
3,988
103293

326205
118364
91,339
36,499
39,553
4,094
102622

324791
116139
91,605
36,224
37,824
4,193
107645

324171
116690
92,237
35,618
37,438
4,360
109064

323790
116968
92,054
35,084
37,219
4,506
108655

269300
116832
67,781
25,609
232120
127818
32,936
4,712
53,094
224394
87,891
59,633
4,552
10,324

268940
115641
68,789
25,071
235302
129277
33,550
4,857
54,017
224576
88,737
59,840
4,541
10,155

267823
114345
66,931
26,987
237720
129331
33,548
4,753
56,438
224267
89,741
58,368
4,522
11,103

266747
113950
66,222
26,948
239577
131171
33,641
4,529
5630
223458
89,714
58,077
4,506
10,915

263249
112968
64,840
25,864
243349
130509
34,928
4,388
59,459
223160
89,795
58,388
4,532
10,901

263108
111912
63,413
28,057
255895
137968
39,352
4,362
60,139
223055
89,685
58,488
4,678
11,435

261871
110707
62,206
29,460
249320
133839
36,953
4,377
60,087
222103
90,774
57,002
4,614
11,935

259723
110077
61,959
28,480;
245088
130848
35,438
4,151
60,633
221071
89,539
58,322
4,577
11,911

259530
110047
60,655
29,942
242267
128550
34,892
3,988
60,953
219294
89,100
57,697
4,562
12,398

258449
109056
61,717
28,679
242708
128506
34,989
4,094
61,190
217519
88,643
56,647
4,564
12,753

258665
108610
59,399
31,406
243315
128013
33,245
4,193
63,801
216440
88,168
56,740
4,579
12,438

257343
106645
60,056
31,024
245047
127925
32,844
4,360
65,784
217188
89,601
56,634
4,594
12,256

258122
107698
60,400
30,466
244559
127476
32,617
4,506
65,791
215629
88,616
56,568
4,602
12,398

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. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators.
5. Includes estimates for holders that do not separately report consumer credit holding by type,
r = revised, p = preliminary.