Full text of G.19 Consumer Credit : September 8, 1995
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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 For release at 4 p.m. (Eastern Time) Septembers, 1995 G. 19 CONSUMER INSTALLMENT CREDIT July 1995 Outstanding consumer installment credit rose $8.8 billion in July, following an $11.1 billion increase in June. Automobile credit rose more rapidly than in June, while growth in "other" credit slowed. Revolving credit growth, at about half its June pace, was the slowest since last December. MONTHLY CHANGE IN CREDIT OUTSTANDING1 Seasonally adjusted Amount Type of credit (millions of dollars) i995 r Jun.r May 13,141 Total 11,148 3,959 Automobile 2,774 7,463 Revolving 6,455 2 1,719 Other 1,920 Annual rate (percent) lyyj Jun.r 13.9 lO.l 21.1 8.8 r Jul.P 8,818 4,397 3,208 1,213 May 16.7 14.6 24.9 7.9 TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES3 Percent except as noted, not seasonally adjusted 1994 Institution, terms, and type of loan May Jul. Nov. Feb. Commercial banks Interest rates 48-mo. new car loan 24-mo. personal loan Credit card plan* All accounts Accounts assessed interest Auto fincmcj co?*io(WA£S 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 Jul.P 10.9 15.8 10.3 5.5 1995 May Jul. 7.76 12.96 n.a. n.a. 8.75 13.59 9.70 14.10 9.78 14.03 n.a. n.a. n.a. n.a. n.a. n.a. 15.69 15.77 16.14 15.27 16.15 16.23 n.a. n.a. 9.92 13.51 10.17 13.86 10.53 14.19 11.89 15.06 11.43 14.78 11.01 14.35 53.5 50.6 53.9 50.2 54.6 50.3 54.1 52.0 54.4 52.2 54.1 52.4 93 99 93 100 93 100 92 99 92 99 92 100 15,194 10,606 15,319 10,735 15,971 11,202 15,774 11,181 16,155 11,396 16,086 11,637 * Data on credit card rates now are being collected in a new survey that was conducted for the first time for November, 1994. The rates for Jill accounts and for accounts assessed interest are described in footnote 3. Other notes appear on reverse. CONSUMER INSTALLMENT CREDIT OUTSTANDING (Millions of dollars) 1994 Type of credit and holder Jul. Aug. Sep. Oct. 1995 Nov. Dec. Feb. Mar. Apr. r Mayr Jun.r Jul.P 918968 321175 345630 252164 933717 946451 323502 326430 970741 333164 373572 264005 979559 337561 376780 265218 Jan. Seasonally adjusted Total Automobile Revolving Other2 849930 300590 312717 236623 863484 304330 319687 239467 873606 308654 322035 242916 882210 311197 324655 246358 895627 315213 332402 248012 902853 317237 334511 251106 914260 319408 340450 254402 352741 359655 257474 260366 959593 330390 367117 262085 Not seasonally adjusted Total Major holders Commercial banks Finance companies Credit unions Savings institutions Nonfinancial business4 Pools of securitized assets5 843248 863045 876055 882554 898896 925000 922788 917652 927260 938108 951096 964362 971586 390646 123202 109713 38055 52233 129399 400829 125197 112881 37975 52923 133240 406375 130306 114343 38420 52415 134196 407092 131562 115973 38122 52440 137365 415237 132874 117351 38275 54631 140528 427851 134830 119594 38468 60957 143300 425941 137468 120029 38153 57819 143378 423144 134758 120603 37835 5:i828 145484 425208 431444 135790 137804 121946 123233 434863 139632 125052 37500 55914 158135 437498 141743 126352 37501 56315 164953 44J[187 142163 127300 38001 55803 167132 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 299783 134380 58107 34819 308786 158248 47069 82656 234679 98018 65095 5164 11924 306099 137472 58589 34960 318128 162856 47701 86569 238818 100501 66608 5222 11711 311511 138827 60522 35524 320547 166294 47168 85950 243997 101254 69784 5247 12722 313749 140315 60750 34774 322487 164227 47162 89643 246318 102550 70812 5278 12948 316761 141660 61372 34716 334549 171096 49276 92321 247586 102481 71502 5355 13491 318213 141851 61609 34918 352266 180183 55341 94376 254521 105817 73221 5616 14006 317869 141546 62321 33265 347641 176959 52299 95826 257278 107436 75147 5520 14287 319042 14^01 61067 34312 345354 175574 50405 96613 253256 105769 73691 328932 142865 63689 36244 362283 183006 50595 106811 259881 108992 75943 5319 15080 333194 144761 65162 36690 368809 182950 51006 112609 262359 109787 76581 5309 15654 336587 146071 65861 37307 372009 184238 50520 114338 262990 110878 76302 5283 15487 37519 37499 55351 55116 151446 153012 321592 324146 141857 142014 61256 62435 35172 35319 348411 355012 175800 180609 49959 49773 101571 103188 257257 258950 107551 108821 74534 75369 5<J23 5392 5343 14559 14703 14505 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, cr vacations. These loans may be secured or unsecured. 3. Interest rates are annual percentage rates (APR) as specified by the Federal Reserve's Regulation Z. Interest rates for new-car loans and personal loans at commercial banks are simple unweighted averages of each bank's most common rate charged during the first calendar week of the middle montr> of each quarter. For credit card accounts, the rate for all accounts is the stated APR averaged across all credit card accounts at all reporting banks. The rate for accounts assessed interest is the annualized ratio of total finance charges at all reporting banks to the total average daily balances against which the finance charges were assessed (excludes accounts for which no finance charges were assessed). 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.