Full text of G.19 Consumer Credit : September 8, 1994
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sfefe-. FEDERAL RESERVE statistical release This release is issued around the fifth business day of each month. The exact date and time may be obtained by calling (202) 452-3206 ••f'SuiE^:-- For release at 4 p.m. (Eastern Time) September 8,1994 G. 19 CONSUMER INSTALLMENT CREDIT July 1994 Consumer installment credit outstanding rose $5.6 billion in July, following an $11.2 billion increase in June. Automobile credit outstanding grew $4.1 billion in July and revolving credit advanced by $3.7 billion. "Other" credit declined $2.2 billion, nearly all of which owed to a reclassification of some consumer loans at finance companies. This one-time adjustment resulted in a break in the series between June and July that lowered the growth of total installment credit in July by about 3 percentage points. MONTHLY CHANGE IN CREDIT OUTSTANDING1 Seasonally adjusted Type of credit Total Automobile Revolving Other2 May 11,460 3,827 4,208 3,424 Amount (millions of dollars) 1994 Jun. r 11,156 4,969 4,002 2,186 Jul.P 5,568 4,137 3,657 -2,226 Annual rate (percent) 1994 Jun. r 16.0 20.1 15.6 11.2 May 16.6 15.7 16.6 17.9 Jul.P 7.9 16.5 14.0 -11.3 TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES3 Percent except as noted, not seasonally adjusted 1993 Institution, terms, and type of loan Jul. Aug. Nov. May 1994 Jul. 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. 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 n.a. n.a. 54.7 49.0 54.9 49.0 54.5 48.4 53.5 50.6 53.9 50.0 n.a. n.a. 91 98 91 99 91 98 93 99 93 100 n.a. n.a. 14,430 9,996 14,324 10,104 14,839 10,230 15,194 10,606 15,319 10,735 n.a. n.a. CONSUMER INSTALLMENT CREDIT OUTSTANDING (Millions of dollars) 1994 1993 Type of credit and holder July Aug. Sept. Oct. Nov. Jan. Dec. Feb. Mar. Apr. May June r July P Seisonally adjusted Total Automobile Revolving Other2 757554 762156 772045 779220 786911 795573 800912 805787 817173 827288 838748 849904 855472 268261 270311 273383 277737 280561 281504 283453 284388 287912 292738 296566 301534 305671 273520 275430 279324 281486 285508 287970 290807 294461 299218 304381 308590 312591 316249 215773 216415 219338 219996 220842 226099 226651 226938 230043 230168 233593 235778 233552 Not seasonally adjijsted 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 752316 761488 773778 779635 788453 813864 808010 805015 812477 821754 831515 843915 849454 341958 346252 351673 354169 360286 368549 367883 366712 369710 376379 380063 386235 393705 113076 111863 112645 112602 114800 117463 117936 118095 120061 122845 120775 122996 122840 96075 98056 98893 99341 98501 101634 100554 100984 102683 104153 107423 110349 111571 36484 35920 37398 37633 37856 38078 38328 38578 38828 39078 39255 39400 39749 9 47076 48145 48871 49839 51909 57637 55228 53453 53410 53756 54505 55374 55775 117647 121252 124298 126051 125101 130503 128081 127193 127785 125543 129494 129561 125814, 267530 271502 275402 279885 280894 282291 282418 283429 287476 291352 295066 300745 304762 116329 118095 120523 122326 122660 123358 124238 124449 126949 130104 132979 136038 138778 56817 55247 55057 54324 55337 55274 56509 56963 57797 59458 56614 56932 58191 34558 37171 37984 40233 39140 39490 37426 36599 36613 34531 35836 35817 34436 270221 273786 278000 279605 286726 303430 296852 294112 296023 300457 304586 309012 312416 135544 136874 138262 138685 143353 149527 145673 144274 145701 149265 149972 153032 156856 41918 42956 43663 44637 46641 52113 49757 48017 47937 48279 49005 49845 50218 71889 73218 75039 75012 75369 79887 79444 79597 79768 79927 82064 82075 80904 214565 216200 220376 220145 220833 228143 228740 227474 228978 229945 231863 234158 232276 90085 91283 92888 93158 94273 95664 97972 97989 97060 97010 97112 97165 98071 56259 56616 57588 58278 59463 62189 61427 61132 62264 63387 64161 66064 64649 5158 5189 5208 5202 5268 5524 5471 5436 5473 5477 5500 5529 5557 11200 10863 11275 10806 10592 11126 11211 10997 11404 11085 11594 11669 10474 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.
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