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.