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Supplement to
BANKING &
MONETARY
STATISTICS
SECTION 16 (NEW)
Consumer Credit
BOARD OF GOVERNORS OF THE
FEDERAL RESERVE SYSTEM
Preface
In 1943 the Board of Governors published
Banking and Monetary Statistics to make available in one place and on a uniform basis major
series relating to banking, monetary, and other
financial developments. The statistics usually
covered the period from 1914, when the Federal Reserve System was established, through
December 1941.
To bring together for the period since 1941
the most important series in that volume, to
revise the data previously published, and to
present new series, the Board is publishing a
series of pamphlets. Most of these pamphlets
correspond to sections in Banking and Monetary Statistics, but some may cover new subjects. Most of the data included in these
pamphlets have already been published in the
Federal Reserve Bulletin, and current figures
for most of the series are published in it each
month. In some instances, however, the type
of presentation may vary considerably from
that in the Bulletin.
This is one of the new pamphlets. As in
Banking and Monetary Statistics, there is a
brief description of the purpose and history of
the data, the sources of the figures and the
methods by which they were compiled, and
other facts to guide the reader in using the
figures. Much of the information that is customarily included in footnotes to tables has been
incorporated in the text. Footnotes have been
used for the most part to call the reader's attention to any lack of comparability of items over
the period covered.
Board of Governors
of the Federal Reserve System
Washington, D. C.
September 1965
Price per copy, 65 cents.
Contents
Page
INTRODUCTION
1
BACKGROUND OF SERIES
1
DEFINITIONS AND CONCEPTS
2
MAJOR TYPES OF CONSUMER CREDIT
3
Instalment Credit
Noninstalment Credit
3
..
5
INSTALMENT CREDIT EXTENSIONS AND REPAYMENTS
5
RELATION TO OTHER STATISTICS
7
ESTIMATES OF INSTALMENT CREDIT
8
FINANCIAL INSTITUTIONS
9
Commercial Banks
Sales Finance Companies
Other Financial Institutions
RETAIL OUTLETS
General Estimating Methods
Retail Instalment Credit by Holder
9
11
13
18
18
20
ESTIMATES OF NONINSTALMENT CREDIT
24
SINGLE-PAYMENT LOANS
24
CHARGE ACCOUNTS
25
Department Stores and Mail-Order Houses
Other Retail Outlets
Credit Cards
SERVICE CREDIT
Medical Care
Public Utilities
Private Education
Recreation
Funeral and Legal Expenses
Cleaning, Dyeing, Pressing, and Repair of Garments
Automobile Repair Services
Other Services
25
25
26
26
27
27
28
28
28
29
29
29
SPECIAL ADJUSTMENTS
29
SEASONAL AND RELATED ADJUSTMENTS
29
STRAIGHT-LINE ADJUSTMENT TO BENCHMARKS
30
KEY TO SYMBOL USED IN TABLES
32
TABLES:
1. Total Consumer Credit, 1919-63
2. Instalment Credit, 1919-63
3. Instalment Credit Held by Commercial Banks, 1919-63
4. Instalment Credit Held by Sales Finance Companies, 1919-63
5. Instalment Credit Held by Other Financial Institutions, 1919-63
6. Instalment Credit Held by Consumer Finance Companies, 1950-63
7. Noninstalment Credit, 1919-63
8. Instalment Credit Extended and Repaid:
A. Type of Credit: N. S. A., 1940-63
B.
S. A., 1940-63
C. Holder: N. S. A., 1940-63
D.
S. A., 1940-63
E. Commercial Banks: N. S. A., 1942-63
F.
S. A., 1942-63
G. Sales Finance Companies: N. S. A., 1948-63
H.
S. A., 1948-63
I. Consumer Finance Companies: N. S. A., 1950-63
J.
__^_____
S. A., 1950-63
9. Net Change in Consumer Credit Outstanding:
A. Type of Credit: N. S. A., 1920-63
B.
S. A., 1940-63
33
38
43
46
49
52
54
57
62
66
71
75
79
83
86
89
92
95
100
16 (New). Consumer Credit
CONSUMER CREDIT has had an influence on
many aspects of economic activity during the
past 50 years. Much of its influence stems
from the use of instalment credit to finance
purchases of automobiles and other consumer
durable goods. This practice, which began
before World War I and developed rapidly
during the 1920's, has played an important
part in the development and maintenance of
a wide market for consumer durable goods.
In recent years there has been an increasing
tendency to use consumer credit also for purchases of nondurable goods and services.
Consumer credit, as the term is defined here,
includes only short- and intermediate-term
credit. It excludes real estate mortgage credit,
which is almost entirely long term.
By using consumer credit, many persons who
have not accumulated in advance the capital
to buy goods outright have been able to enjoy
them while meeting monthly payments convenient for their budgets. Others have been
able to finance their purchases in this way
without disturbing their capital investments
and their planned savings programs.
Consumer credit thus is an important means
of financing the flow of goods and services
into final consumption and is a factor influencing the level of economic activity. Over long
periods of generally rising activity the extension of credit to purchasers of consumer goods
has supplemented current purchasing power,
and this has tended to stimulate production
and employment. But substantial increases in
consumer purchasing power through the extension of credit in periods of high economic activity are appropriate only when the terms on
which the credit is extended are prudent, the
growth in such credit does not contribute ex-
cessively to monetary expansion, and when the
new purchasing power is matched by an increase in the supply of goods at relatively
stable prices.
To provide consumer credit, an elaborate
structure of financial and service organizations
has developed. Many of these organizations
require substantial amounts of private capital
and bank credit. Commercial banks not only
supply funds to other financial and retail organizations to carry consumer accounts receivable but also are active in lending directly to
consumers and in purchasing instalment paper
from retail outlets. An understanding of these
credit demands and of their effects on total
demand for credit requires adequate current
information on developments and changes in
consumer credit.
BACKGROUND OF SERIES
Groundwork for the Board's consumer credit
series was laid in the late 1930's when the
National Bureau of Economic Research and
the Russell Sage Foundation1 cooperated with
the U.S. Department of Commerce in developing a series of estimates. In 1940—with
the support and cooperation of retailers, financial institutions, and trade associations—the
Department of Commerce set up a system for
obtaining the information needed for preparing estimates of consumer credit outstanding
each month.
In August 1941 the Board of Governors of
the Federal Reserve System was given the responsibility for regulating consumer credit, and
it issued its Regulation W entitled "Consumer
1
Rolf Nugent, Consumer Credit and Economic Stability
(Russell Sage Foundation, 1939).
Credit." To carry out this responsibility, it
began to collect information pertaining to various types of consumer credit. Shortly thereafter—in 1942—the responsibility for maintaining the official statistics on consumer credit was
transferred from the Department of Commerce
to the Federal Reserve System. This centralization of the collection of the statistics served
to make maximum use of the information that
was available within the Federal Reserve,
to eliminate duplication and inconsistency in
reporting, and to minimize for respondents the
burden of reporting. Since 1942 the Board
of Governors has been the primary source of
aggregative consumer credit statistics even
though authority for consumer credit regulation expired in 1952.
Like most economic statistics, the consumer
credit series are based largely on comprehensive benchmark data which become available
periodically. Current monthly estimates are
extrapolated from the latest benchmarks on
the basis of sample data. Such data are obtained through the voluntary cooperation of
lenders and other credit granters who submit
regular reports of their consumer credit operations. As new benchmark data become available, the monthly estimates are reviewed and
revised as necessary.
The estimates for the various segments of
consumer credit published each month are for
the nation as a whole, including Alaska from
January 1959 and Hawaii from August 1959.
Data are not compiled for individual States or
for metropolitan areas as a rule.
Where possible, the monthly estimates for
consumer credit begin with 1940. In addition,
estimates of credit outstanding at year-end are
available for the period 1919-39.
Tables showing current estimates of consumer credit outstanding, extended, and repaid, by both type and holder, are published
regularly in the monthly Federal Reserve Bulletin. Several statistical releases are issued each
month to provide additional detail, as indicated
later in this section.
DEFINITIONS AND CONCEPTS
The Federal Reserve series, "consumer
credit," includes all short- and intermediateterm credit that is extended through regular
business channels to finance the purchase of
commodities and services for personal consumption, or to refinance debts incurred for
such purposes. In this sense, consumer credit
may refer either to an advance of funds
for the purchase of goods or services or to an
advance of goods or services in exchange for
a promise to pay at a later date. No minimum
period for repayment is set by this definition,
except that there must be some lapse of time
between the transfer of the goods or services
and the payment for them.
Personal consumption is considered an end
in itself, as distinguished from the process of
using up or "consuming" goods and services
as a stage in production. Thus the concept of
consumer credit excludes credit extended to
businesses or to individuals exclusively for
business purposes. Credit extended to governmental agencies or to nonprofit or charitable
organizations is also excluded.
Some of the basic data available do not
embody these conceptual distinctions and thus
require adjustments to eliminate the nonconsumer elements. These adjustments will be
described in later sections on estimating methods. Nevertheless, it has not been possible to
make certain other adjustments that in principle
ought to be effected, because there is no
statistical basis on which to make the adjustments or because the conceptual distinctions
themselves are not clear in practice. For example, the System's commercial bank call report data on loans to farmers do not segregate
credit for consumption from that for production purposes. As the bulk of the total is for
production purposes, the practice has been to
exclude these loans entirely from the consumer credit figures.
A similar problem arises with credit used
to purchase multipurpose durable goods such
as automobiles. These goods may serve both
consumption and business purposes, but no
data are available for apportioning the credit
involved between consumer and nonconsumer
uses. In practice, therefore, credit obtained by
individuals for the purchase of passenger cars
is included as consumer credit, whereas any
credit obtained by individuals for the purchase
of commercial vehicles and other commodities
and equipment used primarily for business is
not included.
The consumer credit series also excludes
policy loans of life insurance companies even
though these loans have some of the characteristics of loans against shares in savings
and loan associations, which are included.
There are two bases for this exclusion. One is
the customary absence of a definite repayment
schedule for policy loans, the majority of
which are not repaid. The other is the lack of
a statistical basis for segregating the large proportion of such credit known to be for business
purposes. Inasmuch as the amount of policy
loans is large, this lack of adequate data could
lead to sizable errors in the consumer credit
estimates.
The Federal Reserve series also excludes two
other types of consumer credit because of lack
of adequate statistical information. These are
loans by one individual to another for consumption purposes, and similar loans made by
businesses to their employees.
The practical difficulties of measurement
noted above cause the published consumer
credit series to depart somewhat from the basic
concepts and, on balance, to understate the
amount of short- and intermediate-term consumer credit outstanding. However, the movements shown in the series are believed to reflect reasonably well both the current and the
longer-term trends in consumer credit.
MAJOR TYPES OF CONSUMER CREDIT
Consumer credit is divided into two major
types, instalment and noninstalment, which in
turn are subdivided according to both the type
of credit and the kind of institution to which
the obligation is owed. The accompanying
chart shows the components of the consumer
credit series and estimates of the amounts outstanding held by the different types of retail
and financial institutions on December 31,
1963.
Instalment credit. Instalment credit represents all consumer credit that is scheduled to
be repaid in two or more payments. Revolving credit, budget, and coupon accounts are
treated as instalment credit rather than as
charge accounts because they provide for
scheduled repayment on a periodic basis. Published estimates of the amount of instalment
credit outstanding generally include the financing charges on such credit and the cost of
insurance or other fees included in the credit
contract.
The four principal classes of instalment
credit are automobile paper, other consumer
goods paper, home repair and modernization
loans, and personal loans.
Automobile paper represents credit extended for the purchase of new or used automobiles, whether or not the credit is specifically secured by the automobile purchased.
Similarly, "other consumer goods paper" represents credit extended for the purchase of such
nonautomotive consumer goods as home appliances and furniture, jewelry, mobile homes,
and boats.
Automobile credit and other consumer
goods credit often are extended to the consumer by a retailer; sometimes the retailer will
hold the paper for his own account, but in
many instances he will sell it to a sales
finance company, a commercial bank, or some
other financial institution. In other instances
instalment paper represents loans made directly
by lending institutions to consumers for the
purchase of goods and services.
Repair and modernization loans include both
Federal Housing Administration-insured credit
and noninsured credit extended to consumers
SHORT- AND INTERMEDIATE-TERM CONSUMER CREDIT, DECEMBER 31, 1963 BY TYPE OF CREDIT AND INSTITUTION
(Millions of dollars)
Total consumer credit
69,890
Instalment credit
Noninstalment credit
53,745
16,145
Automobile
paper
Other consumer
goods paper
Repair & modernization loans
Personal
loans
Single-payment
loans
Charge
accounts
Service
credit
22,199
13,766
3,389
14,391
5,959
5,871
4,315
Commercial
11,249
banks
Commercial
3,123
banks
Commercial
2,361
banks
Commercial
4,877
banks
Sales finance
8,228
cos.
Sales finance
3,383
cos.
Other
financial
institutions
Other
financial
institutions
Automobile
dealers
2,394
328
835
Department
stores
(inc. mail3,427
order)
Furniture
stores
1,086
Household
appliance
stores
287
Other retail
outlets
1,625
Sales finance
cos.
Other
financial
institutions
158
Sales finance
1,754
cos.
870
Other
financial
institutions
7,760
Commercial
banks
Other
financial
institutions
5,047
912
Department
stores
Other
retail
outlets
Credit
cards
895
4,456
520
Medical
2,254
Public
utilities
1,205
Other
856
to finance the maintenance and improvement
of their homes. Such credit may be used for
the purchase and installation of equipment,
such as heating and air-conditioning systems, hot water heaters, storm windows, and
kitchen equipment, as well as for major alterations and additions.
Personal loans include all instalment loans
not covered in the previous categories that are
made by financial institutions to individuals for
consumer purposes. Many of these loans are
obtained for the consolidation of consumer
debts, for the payment of medical, educational,
or travel expenses, and for the payment of
taxes or insurance premiums. Some loans used
for the purchase of automobiles or other consumer goods may be classified as personal
loans because the lender cannot identify them
with purchases of specific goods.
Each of these types of instalment credit is
subdivided according to the type of retail outlet or financial institution holding the credit.
This method of classification does not necessarily indicate the originator of the credit.
Credit held by financial institutions thus is
classified according to its current holder,
whether the institution made the loans directly
to consumers or purchased the paper from
the retail outlet that originated the credit.
Only the paper retained by retail outlets is
attributed to them in the breakdown of consumer instalment credit by holder.
Noninstalment credit. Noninstalment credit
consists of those forms of consumer credit that
are scheduled to be repaid in a lump sum.
There are three major components: single-payment loans, charge accounts, and service credit.
Single-payment loans are noninstalment
loans made directly to individuals for consumer
purposes. Some credit of this type is used for
the purchase of goods, but most is for meeting
short-term needs such as for the payment of
personal taxes or life insurance premiums.
Charge accounts represent noninstalment
balances owed to retail outlets for purchases
made by consumers. These are open accounts
ordinarily payable in full within 30 days of
billing. The charge-account segment also includes the amounts consumers owe on accounts
at gasoline service stations or on miscellaneous
credit-card accounts and on home-heating-oil
accounts. Such indebtedness differs from other
charge-account credit in that it does not take
the form of outstanding balances on the books
of retail outlets.
Service credit consists of the amounts owed
by consumers to professional practitioners and
service establishments. The largest element in
service credit is the amount owed to doctors,
hospitals, and other suppliers of medical services. Amounts owed to public utilities, less
deposits and prepayments, are also substantial. The remainder of service credit represents amounts owed for a wide variety of
services, including education, recreation, and
such personal services as laundry, cleaning,
and dyeing.
INSTALMENT CREDIT EXTENSIONS AND
REPAYMENTS
Estimates of instalment credit extended, repaid, and outstanding represent summaries of
accounting records. Conceptually, the amount
of credit extended covers substantially all debit
entries to the instalment receivable accounts
of financial institutions and retail outlets for
any given period and credit repaid covers substantially all of the credit entries. The amount
of outstanding credit represents the sum of the
balances in the accounts. Thus the difference
between credit extended and credit repaid
during any given period is equal to the change
in the outstanding balance during the period,
after allowance is made for losses and chargeoffs.2
2
In principle, charge-offs of bad debts should be excluded
from repayments, and sale or transfer of existing paper among
creditors excluded both from repayments and from extensions.
In practice these rules cannot be fully implemented. In particular, information is not available to make separate estimates
of the amount of charge-offs. Since the amounts involved
under most circumstances are relatively small, charge-offs are
The amount of credit outstanding is constantly being altered as new credit is extended
and as payments are made to retire credit previously extended. It is through this continuous
process that economic events are reflected in
the outstanding amount of credit. Credit extensions are much more dynamic and volatile
than repayments, and they reflect more directly
the impact of changing market conditions. The
volume of each type of instalment credit extended is related in one way or another to the
general level of income and consumption expenditures. It also reflects certain types of
seasonal outlays—for example, tax payments
on purchases of such seasonal equipment as air
conditioners or home heating units. Repayments are governed by the amount and terms
of past contracts and are affected by current
economic developments only to the extent
that these result in delinquencies or prepayments.
In addition to their usefulness in the
analysis of instalment credit developments,
data on extensions and repayments are valuable in interpreting other economic events.
Because of the importance of instalment credit
in consumer purchases of automobiles and
other consumer durable items, information on
the amount of instalment credit extended is
often fundamental to the interpretation
of developments in the markets for these products. And because of the contractual nature of
repayments, information on their volume provides an indication of the current and prospective burden of instalment credit on consumers and may provide some insight into
future expenditures by consumers.
Instalment credit may serve as an alteraaincluded as repayments in most of the components of the
Federal Reserve series. In that segment of the total where
estimates of repayments are developed from data on collections, the effect of not knowing the volume of charge-offs is to
reduce moderately the derived estimates of credit extended.
For a mathematical description of the relationship of credit
extended and outstanding credit, see Appendix B by Paul A.
Samuelson in Gottfried Haberler, Consumer Instalment Credit
and Economic Fluctuations (National Bureau of Economic
Research, New York, 1942).
tive to the use of accumulated savings, or it
may provide the only way in which the consumer can finance his purchases. The amount
of such credit that is used reflects to some extent the demand for the goods involved, the
willingness of individual buyers to commit their
future incomes, and the availability of credit
on acceptable terms.
The terms on which credit is available vary
somewhat from one type of credit to another.
Downpayments may range from zero in the
case of clothing or small items to one-third
or more for automobiles. Maturities may
range from a few months for some nondurable
and small durable items to more than 3 years
for repair and modernization loans and mobile
homes. Contract terms are an important factor in the ability and willingness of consumers
to use instalment credit to facilitate current
purchases. Large downpayment requirements
or large monthly instalments may make it impossible for some potential buyers to make
purchases, particularly of the larger and more
expensive items.
The relationship of repayments to the outstanding amount of credit differs for each type
of credit because of differences in the rate of
credit extension and variations in contract
terms. Personal loans and "other consumer
goods paper" normally have the shortest
maturities, and the volume of repayments on
such loans during any period of time is correspondingly large compared with the outstanding amount. Maturities on automobile
paper are somewhat longer, with the result
that repayments are not so large relative to
amounts outstanding. In the case of repair
and modernization loans, where contracts for
5 years or more are common, repayments are
comparatively small in relation to the amount
of credit outstanding.
Between credit extensions and repayments
there is a direct relationship that stems from
the nature of the instalment contract. Each
instalment contract sets forth th° schedule of
repayments to be followed. Ri
"nts are
to be made over a given number of months,
and the payment in each month is to be only
a fraction of the amount originally extended.
Each month repayments originating from contracts written in the previous month add to
the volume of repayments. At the same time,
payments on earlier contracts that have expired drop out of theflowof repayments.3 The
relationship between extensions and repayments results in the varying lag that is observable in repayments as credit extensions expand
or contract. The length of this lag depends
upon the maturities of the contracts involved
and varies with changes in maturities.
Wholesale transactions can affect the usual
relationship of extensions to repayments for
particular lender groups without affecting
total consumer credit outstanding. When
one type of lender sells consumer paper on
its books to another lending institution, the
transaction is customarily recorded in the
Federal Reserve series as a rise in repayments
to the seller and a decline in his consumer
accounts receivable, and as a corresponding
increase in the extensions and outstandings of
the purchasing institution.
Generally, however, adjustments are called
for if such shifts in ownership of consumer
paper are sizable. These adjustments are
most frequent in nonautomotive consumer
goods paper, and most of them involve a transfer between the retail parent and its finance
subsidiary. Such transactions, although necessarily reflected in the outstanding balances of
both seller and purchaser, often have little or
no economic significance, and they have no
effect on the debt position of consumers. Therefore, an effort is made to exclude such shifts
from the estimates of extensions and repayments
for both holder groups. This procedure also
tends to prevent distortion of seasonal behavior
3
This pattern is interrupted only when delinquencies or
prepayments occur. Some prepayments are the result of refinancing, when a new loan is made for the purpose of
retiring an existing loan. In such cases, the transaction takes
the form of equal increases in both extensions and repayments
during the period.
in the extensions and repayments series. It
should be noted, however, that when such adjustments are made, the net balance of extensions over repayments for each of these two
holder groups differs from the change in their
holdings during that month.
The ratio of repayments to the amount of
instalment credit outstanding at the beginning
of the month is sometimes used to estimate
the average duration of such indebtedness.
Letting R equal the ratio of repayments to
the outstanding amount at the beginning of
the period, the average maturity in months is
*-•••
This formula assumes that the level of
credit extensions is stable, whereas in practice
credit extensions are rarely stable over periods
of more than a few months. The formula thus
tends to understate or overstate the average
maturity according to whether the volume of
extensions is expanding or contracting.
This formula sometimes is used to measure
the average maturity of contracts currently
being written. But in this use the limitations
of the formula are even greater, because repayments on contracts currently being written are
such a small proportion of each month's total
repayments.
RELATION TO OTHER STATISTICS
Several features of the extensions and repayments data need to be borne in mind. Like
the estimates of the amount outstanding, estimates of instalment credit extended include
any financing and insurance charges that are
part of the instalment contract. Similarly, instalment credit repayments include the payments on these charges. The inclusion of
financing charges is general for most types of
instalment contracts, because these charges
4
For a more detailed description of this formula, see Milan
V. Ayres, Instalment Mathematics Handbook (Ronald Press,
1946), pp. 100-03.
are usually written into the contract on a discount or add-on basis. The inclusion of insurance charges is already of importance in the
case of automobile instalment credit and is
becoming more significant for other types of
credit.
In addition, the figures on instalment credit
extended and repaid include loans to refinance
or consolidate other instalment obligations or
to renew existing loans. These items simultaneously add to credit extended and credit
repaid, without having any effect on the
amount outstanding, apart from small differences in total financing charges. The exact
amount of such refinancing is not known, but
it is large enough to affect comparison of
extensions and of repayments with such other
aggregates as disposable personal income or
consumer purchases of goods and services.
Renewals and refinancing occur most frequently in the personal instalment loan
category, and they often provide the occasion
for extension of new credit as well. They are
perhaps somewhat less common in the case of
automobile loans, although no longer ago than
1955 one-fifth of all credit buyers of new cars
still owed money on the cars that they were
trading in.5
The inclusion of these various items in the
estimates of instalment credit extended and
repaid probably causes no serious difficulty for
many analytical purposes. Most of the time
the broad movements of credit extended and
repaid would not appear significantly different
if financing and insurance charges and loan
renewals were excluded.
Comparisons with certain other economic
measures are complicated, however, by such
characteristics of the data. For example, for
the purpose of measuring the role of instalment credit extensions in financing the purchase of automobiles, adjustments would be
required to eliminate renewals and refinancing
from the series for extensions. Adjustments
also would be required in the estimates of consumption expenditures for automobiles, as published by the Department of Commerce in the
annual gross national product accounts. These
estimates are intended to measure only current
production and to exclude transfers of existing goods. Consequently, sales of used cars
are not included, but the dealers' margins on
such sales are included. Furthermore, in the
Commerce series the estimates for automobile
expenditures exclude some of the accessories
purchased with new cars. Expenditures for
these items are included instead in a separate
series for expenditures on automobile parts
and accessories. Finally, the adjustment that is
made to eliminate business credit from the estimates of instalment credit extended differs
from the adjustment made by the Department
of Commerce to eliminate business purchases
from the consumption expenditure estimates.
ESTIMATES OF INSTALMENT CREDIT
The estimates for instalment credit center
around a set of national figures on the amounts
of such credit outstanding, extended, and repaid. For noninstalment credit, on the other
hand, the only estimates are those for outstanding balances.
5
Consumer Instalment Credit, Part IV, "Financing New Car
Purchases" (Board of Governors of the Federal Reserve
System, 1957).
Estimates for instalment credit are made by
type of credit for each major holder group—
commercial banks, sales finance companies,
other financial institutions, and retail outlets.
Inasmuch as the series are built up from the
parts to the whole, and there are differences
among the holder groups in the sources of
data and the methods of estimation, the various holder groups will be considered in turn.
FINANCIAL INSTITUTIONS
Financial institutions hold nearly 90 per cent of
all consumer instalment credit outstanding and
retail outlets the remainder. Among financial
institutions, commercial banks are the major
holders. Currently they account for more than
two-fifths of all holdings by such institutions.
Sales finance companies are next, with nearly
one-third of the total for the financial group.
Commercial banks. Commercial banks include all Federal Reserve member banks and
all nonmember commercial banks in the United
States, exclusive of banks in territories or
possessions. Almost all of these banks engage
in consumer credit activities—by direct lending to consumers, by buying retail instalment
contracts, or both.
Benchmarks and adjustments. The first official benchmarks for consumer paper held by
commercial banks are those for 1942 shown
in call reports of condition submitted by insured banks to supervisory authorities. The
figures for earlier years are based on year-end
estimates by the Russell Sage Foundation, the
National Bureau of Economic Research, and
the Federal Reserve Board.
Schedule A, added to the call report with
the 1942 revision, provided for insured banks
to report instalment loans to individuals separately, by type of loan, on June and December
dates. It was not until June 1961 that data by
loan type became available for noninsured
banks in the reports of the Federal Deposit
Insurance Corporation. Noninsured banks hold
less than 1 per cent of all consumer credit
held by commercial banks. The distribution
of loans held by noninsured banks for the
period before 1961 is estimated from the loan
distribution of country member banks.
Call reports provide for reporting of instalment loans to individuals in four classifications: automobile, other consumer goods, repair and modernization, and personal. In
some cases, however, these totals do not give
an accurate picture of consumer liability for
such credit. Therefore, it is necessary to make
two types of adjustments in the totals.
In connection with some loans to individuals, borrowers accumulate deposits that
are assigned or pledged to assure payment of
their loans at maturity. The amounts of such
deposits are shown in total in the call reports.
This total is distributed by type of loan on the
basis of data reported in 1958 by a sample of
commercial banks. The estimate for each type
is then subtracted from the book value of
instalment loans of that type as reported by
banks.
Then too, some loans to individuals are not
strictly "consumer" types. Estimates of the
portions considered to be nonconsumer are
based primarily on a special survey of about
8,200 personal instalment loans made in June
1952, which obtained information on the purpose of "cash instalment loans to individuals."
According to information in that survey, about
15 per cent of the total amount of personal
instalment loans outstanding was for nonconsumer purposes. After the call report instructions relating to this item were modified for
use in the December 1955 call, the estimated
nonconsumer portion of personal instalment
loans was revised to 10 per cent.
In the June 1952 survey, banks were also
asked whether the category "retail automobile
instalment paper" included loans for the purchase of commercial vehicles, taxis, trucks, or
farm equipment and, if so, to indicate the
proportion of such loans to their total automobile paper. According to the replies, about
5 per cent of the amount of automobile paper
held by all commercial banks was nonconsumer. The automobile instalment total is
reduced by that amount.
Repair and modernization loans reported
by commercial banks are also adjusted to
eliminate nonconsumer loans. This adjustment is based on data available each year
from the Federal Housing Administration. In
recent years about 15 per cent of these loans
have been found to be on multifamily. dwell-
ings, farm dwellings, or business property
which, by definition, are nonconsumer; in
earlier years this proportion was somewhat
higher. An annual adjustment is made to
eliminate the nonconsumer portion of both insured and noninsured repair and modernization loans at commercial banks.
The accompanying table shows total "instalment loans to individuals" as reported by
all commercial banks in the United States for
June 29, 1963, and the adjustments made to
exclude the amounts of accumulated deposits
and of credit for nonconsumer purposes.
for each type of loan, that is, purchased automobile paper, direct automobile loans, other
consumer goods paper, repair and modernization loans, and personal loans.
Banks in the reporting sample in each Federal Reserve district are divided into three
size classes on the basis of the amount of
consumer instalment credit outstanding on
each bank's books.6 Because the composition
of the sample may vary slightly from one
month to the next, owing to nonresponse or to
mergers among banks, data representing identical samples are summarized by size class each
month for the current and preceding months.
Collections for each type of loan at banks in
each size class are calculated by adding extensions of credit during the current month to
credit outstanding at the preceding month-end
and subtracting current month-end outstandings. Within each Federal Reserve district and
each size-of-bank class, two relationships are
then calculated for each type of credit: the
percentage change in credit outstanding, and
the ratio of collections during the month to
outstanding balances at the previous monthend.
For each type of loan within each Federal
Reserve district, weighted percentage changes
are computed using weights based on the distribution by size class of each type of paper
held by all banks in the district. The weighted
percentage changes in sample outstandings are
then applied to the credit outstanding at the
preceding month-end to obtain outstandings
at the close of the current month for all banks
in each district.
Collection ratios are weighted similarly by
type of credit and then are multiplied by the
corresponding outstanding balances at the preceding month-end to obtain an estimate of
repayments for each Federal Reserve district,
by type, for the current month. The month's
extensions of credit for each loan type are then
Outstanding,
June 29,1963
(In millions
of dollars)
Instalment loans to
individuals, total
Less:
Deposits accumulated
Nonconsumer adjustment
Consumer instalment credit, total
22,873
790
1,481
20,602
In 1953 certain changes were made in procedures and concepts. At that time instalment
credit totals for commercial banks were revised
to include data for institutions that had formerly been classified as industrial banks. It was
found to be impractical to continue that segregation because these banks were broadening
their activities and satisfactory criteria for
separate classification were not available.
Similarly, the series was revised to include
all holdings of home repair and modernization paper by commercial banks. Earlier
estimates had included only that portion insured under FHA Title I.
Current estimates. The monthly estimates
of consumer credit held by commercial banks
are based on sample data collected by the
Federal Reserve Banks. As of December 1963
the sample included 609 banks, accounting
for approximately one-half of the total consumer instalment credit held by all commercial
banks. Banks in the sample report their outstanding balances as of the month-end as well
as the volume of loans made during the month
6
Classification of sample data by size class within each
district was started in 1955 and is updated periodically.
10
derived by subtracting from outstanding credit
at the end of the current month the amount
outstanding at the previous month-end and
then adding estimated repayments during the
month.
These steps lead to monthly estimates of
instalment credit outstanding, extended, and
repaid—by type of credit—for each of the
12 Federal Reserve districts. The district
totals are then summed to produce national
estimates for all commercial banks.
Monthly estimates for the current period are
obtained by extrapolating from the previous
benchmark forward, using the procedure described above. Such estimates are later revised
to benchmark data, by district and type of
credit, using the straight-line method of adjustment described on pages 30-32.
Estimates of instalment credit at commercial
banks appear monthly in the Board of Governors' statistical release, G.19, "Consumer
Credit." A breakdown of these totals by Federal Reserve district appears in the G.I8 release, "Consumer Instalment Credit at Commercial Banks."
Monthly estimates for early years. For dates
prior to June 1943 the monthly estimates were
based on various sources of information. In
1940 and 1941, they were based on data for
a sample of banks that reported to the Consumer Credit Division of the American Bankers Association, and beginning in 1942 on a
sample collected by the Federal Reserve. Percentage changes shown by these sample data
were applied to the June 1943 benchmark.
Sales finance companies. Sales finance companies are engaged principally in purchasing
instalment paper that arises from retail sales
of passenger automobiles or other consumer
goods or from outlays for repair and modernization of residential properties. Many of these
companies have subsidiaries that engage in
direct lending to consumers, and some others
may be subsidiaries of large retailing or manufacturing corporations.
Some of the larger companies also are
heavily engaged in the financing or factoring
of business accounts receivable or in financing
sales of commercial, industrial, and farm
equipment. In general, companies are classified in the Federal Reserve series as sales
finance companies if more than half of their
outstanding loans are in the form of purchased
retail instalment contracts.
Benchmark data and estimates for early
years. In recent years, benchmark data for
the sales finance company series have been
obtained from periodic surveys of all finance
companies. The latest of the surveys was conducted as of June 1960, when reports were
obtained from about 4,500 companies accounting for an estimated 96 per cent of the aggregate outstanding consumer instalment credit
held by all finance companies.7 A similar survey was made in 1955, and another is scheduled for 1965.
Estimates of consumer loans by sales finance
companies for earlier years were derived from
three major sources of detailed information:
the 1939 Census of Sales Finance Companies;
the 1947 Survey of Sales Finance Companies
conducted by the Board of Governors; and
the 1950 Regulation W registration statement.
As may be seen from the tabulation on page
12, the 1947 Survey was the principal benchmark of these three. One reason was that
it provided greater detail; another was that the
reporting was on a consolidated basis. The
1939 Census and 1950 registration statement
were used only to adjust the levels of items for
which they provided information.
Breakdowns of the amount of paper purchased similar to the breakdowns of consumer
instalment paper outstanding were reported in
the 1939 Census and the 1947 Survey, but no
such information was called for in the 1950
registration statement.
Estimates of instalment credit outstanding
before 1939 were derived from sample data
7
For a description of the June 1960 Survey, see "Survey of
Finance Companies, Mid-1960," Federal Reserve Bulletin
(October 1961), pp. 1140-60.
11
about 75 per cent of the other consumer goods
paper, and more than 80 per cent of the personal loans held by all sales finance companies. They also hold about 40 per cent of
the consumer repair and modernization loans
on the books of sales finance companies.
Estimates are based on the consolidated
operations of these companies, and no attempt
is made to separate the operations of small
loan and industrial loan subsidiaries. In many
cases such legal distinctions are not operating
distinctions, and the loan subsidiaries and discount subsidiaries operate as a single company
and often out of the same offices, where not
prohibited by State laws.
There is one major exception to the use of
company reports on a consolidated basis. In
the case of large retailing organizations that
operate sales finance subsidiaries, an attempt
is made to separate the retail credit operations
from the sales finance credit operations inasmuch as both parts of the organization may
hold consumer receivables and accept repayments. Paper held by such finance subsidiaries
is included in consumer instalment credit estimates for sales finance companies, while paper
retained by the parent retail organization is
classified as retail credit.
Reporting sales finance companies provide
monthly figures on amounts of consumer instalment credit outstanding and amounts of such
paper acquired during the month, by type of
credit, and also on the number of motor
vehicles financed during the month. In addition, the monthly reports cover certain categories of business credit services offered by
sales finance companies: retail financing of
commercial vehicles; wholesale automotive
financing ("floor planning"); financing of nonautomotive consumer goods at wholesale; and
business loans.
Figures for credit outstanding, extended, and
repaid are estimated separately for each major
type of credit and then combined to get totals
for the sales finance group. Monthly estimates
of credit outstanding are extrapolated from the
DETAIL PROVIDED ON TYPE OF
OUTSTANDING PAPER
1939
Census
Passenger
vehicles
Trucks,
trailers,
etc.
Other retail
paper
1947
Survey
New motor
vehicles
Used motor
vehicles
Residential
building
repair and
modernization
Domestic
appliances
and
1950
Registration
statement
Retail automobile instalment credit
Other retail
instalment
credit
Repair and
modernization credit
Personal
instalment
cash loans
furniture
Other retail
paper
Wholesale
motor
vehicles
Other wholesale paper
Other business
credit
Direct instalment loans to
individuals
collected by the Russell Sage Foundation, the
National Bureau of Economic Research, and
the Department of Commerce. These data
covered retail automobile paper and other retail instalment paper. The amount of repair
and modernization loans and personal loans
held by sales finance companies in the 1920's
and early 1930's was negligible. All segments
were adjusted to findings of the 1939 Census,
and estimates of repair and modernization loans
were adjusted to information from the Federal
Housing Administration.
Current estimates. The current estimates of
consumer instalment credit at sales finance
companies are developed from reports received
each month from a sample of about 125 companies, including the major independent sales
finance companies and the principal subsidiaries of large retailing or manufacturing
corporations. Reporting companies account
for about 85 per cent of the automobile credit,
12
latest benchmarks on the basis of changes in
holdings of companies in the sample. The reporting companies are classified into four size
groups, with weights assigned to each group
on the basis of the relationship of the holdings
of reporting companies in each group to those
of all sales finance companies of similar size
on the most recent benchmark date. Repayments are calculated as follows: outstandings
at the end of the preceding month, plus extensions during the month, less outstandings at the
end of the current month, equal repayments
during the month.
Two adjustments are made to exclude nonconsumer loans. The first is applied to the
respondents' figures for retail automobile credit
outstanding. It is necessary because most of
these companies are not able to break down
total credit outstanding on motor vehicles so as
to distinguish outstandings on passenger vehicles from outstandings on other (commercial)
vehicles. These same companies, however, do
prepare such a breakdown of new paper acquired, and these data, combined with estimates
for the average original maturity of retail automotive paper on commercial vehicles, provide
a basis for estimating the nonconsumer component of the total.
The second adjustment eliminates the nonconsumer part of repair and modernization
loans made by sales finance companies. This
is essentially the same as the corresponding
adjustment for commercial banks, which was
described in an earlier section.
When new benchmark data for sales finance
companies become available, monthly estimates
for each type of credit are adjusted to the new
levels by use of the straight-line method described on pages 30-32.
Estimates of instalment credit at sales
finance companies appear monthly in the
Board's statistical release G.20, "Sales Finance
Companies," as well as in the Federal Reserve
Bulletin.
Supplementary information. The Board's
monthly release for sales finance companies
also includes three other types of information
that are derived from the reporting sample data
but that are not published in the Bulletin.
First, there are the estimates of business
credit outstanding at, and extended by, all
sales finance companies.
Second, there are estimates of the number
of motor vehicles financed by sales finance
companies, with a breakdown showing passenger and commercial vehicles separately,
both new and used. These series are constructed as follows: Inasmuch as companies
in the monthly sample report both volume of
automotive paper acquired and the number of
vehicles represented by this financing, it is
possible to derive the average amount of each
contract. This figure is then divided into the
estimated total amount of automotive credit
extended by sales finance companies during
the month, to yield the total number of units
financed by all sales finance companies.
The third series is credit sales of new
passenger cars as a per cent of total number
sold at retail. This series is developed in a
manner similar to the second series, described
above, except that the estimate of total number financed is made for passenger cars only,
and it covers all lender groups. This figure is
then divided by total unit sales of new cars
(including imports and fleets), as reported by
auto makers, to arrive at the percentage of
these sales financed through the use of consumer instalment credit.
Back data for each of these series are available beginning with 1947.
Other financial institutions.
"Other financial
institutions" are classified into five major categories: credit unions; consumer finance companies; mutual savings banks; savings and loan
associations; and all other financial firms engaged in the consumer loan business but not
included elsewhere in the series. Industrial
loan companies are included in the last named
category. At the end of 1963 the instalment
credit outstanding at institutions in these five
categories was as follows:
13
Credit unions
Consumer finance companies
Mutual savings banks
Savings and loan associations
All other financial institutions
(including industrial loan
companies)
(Millions of dollars)
5,622
4,590
200
504
943
Separate figures are published regularly for
consumer receivables held by credit unions and
consumer finance companies, but the figures
for the other three lender groups are shown as
a single total under the caption "other financial
institutions."
Credit unions. Current estimates of consumer credit held by credit unions are based
on monthly reports from the Bureau of Federal
Credit Unions in the Department of Health,
Education, and Welfare. Prior to November
1964 these data were collected by the Federal
Reserve Banks from a sample of nearly 1,300
credit unions, about half of them Federallychartered and half State-chartered. The sample
accounted for more than 20 per cent of the consumer instalment credit held by these organizations.
The credit unions in the monthly sample report total outstanding loan balances and total
repayments; they do not report information
on loans classified by type. Estimates of total
outstandings for all credit unions are carried
forward each month on the basis of percentage
changes in credit outstanding as reported by
the sample. The ratio of repayments to receivables for the sample is then used to calculate
total repayments, and extensions are derived
as the residual. This method involves weighting of sample reports by Federal Reserve
district.
Figures for total outstandings are adjusted
to benchmark levels periodically, using the
straight-line method described on pages 30-32.
Benchmark data for both State- and Federally
chartered credit unions are collected by the
Bureau of Federal Credit Unions.
Before such revisions are undertaken, benchmark data are adjusted to the consumer credit
14
concept by excluding real estate mortgage
loans made by State-chartered credit unions. The
amounts excluded are based mainly on an
annual compilation made by the Bureau of
Federal Credit Unions, which requests data
from supervisory authorities in States that
permit credit unions to make such loans. An
additional allowance is made to cover these
loans in a few States that permit them but do
not report them separately. For the period
1939 through 1947, this adjustment for real
estate mortgage loans was based on information obtained from a questionnaire sent in
1948 to State banking authorities.
Estimates of total consumer instalment
credit held by credit unions are shown monthly
in the Federal Reserve Bulletin and on the
"Consumer Credit" statistical release (G.19).
Estimates of their holdings by type of credit
are not published separately but are included
with those for "other financial institutions."
Similarly, estimates of credit union extensions
and repayments are included in the category
"other financial institutions."
According to the 1950 Regulation W registration statement, about 63 per cent of all
loans outstanding at credit unions were personal loans, 26 per cent aiitomobile loans, 6
per cent other retail loans, and 5 per cent
repair and modernization loans. Later benchmark data, based on a 1956 survey made by
the Bureau of Federal Credit Unions, indicated
that the relative importance of automobile
loans made in 1956 was substantially higher
than in 1950, while personal loans had declined to about one-half of the total. Information from these two sources provided the
benchmarks needed for developing estimates
of outstandings by type of loan.
For dates prior to 1950, estimates of the
amounts of consumer instalment loans outstanding by type of loan were made on the
assumption that changes in the portfolios of
credit unions were proportionate to changes in
the portfolios of banks. In the 1940's the estimates were based on the distribution of con-
At the same time a somewhat broader definition of consumer finance companies was
adopted. This definition incorporated in the
series some companies formerly classified as
industrial loan companies and other lending
agencies. In the figures presented here, these
groups have been combined prior to 1950 in
order to avoid inconsistencies in classification.
Current estimates of credit outstanding, extended, and repaid for consumer finance
companies are based on reports from a
sample of 340 companies, which account for
about 60 per cent of the total instalment credit
held by such concerns. The sample companies
furnish reports on outstanding balances and
extensions during the month, by type of credit.
As in the commercial bank series, these sample
data provide the basis for estimating amounts
outstanding and collection ratios for all companies. When the collection ratios are applied
to the preceding month's outstandings, they
yield an estimate of current repayments. Total
extensions of credit are then calculated as a
residual. Estimates of amounts outstanding and
of extensions by type of credit are shown in the
Board's monthly statistical release G.22, "Consumer Credit at Consumer Finance Companies."
When new benchmarks become available,
the monthly figures are revised to the new
benchmark levels by use of the straight-line
method. The most recent benchmark data for
consumer finance companies are those provided by the 1955 and 1960 Surveys of
Finance Companies. The reported benchmark
data for repair and modernization loans included some nonconsumer loans. The data
have been adjusted to exclude these loans by
use of the ratios reported for commercial
banks.
The Regulation W registration statement
provided benchmark information for 1950 for
the total amount of credit outstanding at consumer finance companies by type of loan. Yearend estimates for the period 1939-50 were
extrapolated on the basis of percentage changes
sumer loans at country member banks on call
dates. Even though this procedure has limitations, these estimates were used to complete
the "type" breakdown of the consumer credit
series as a whole, since the amounts involved
were small relative to the total credit outstanding.
The repair and modernization component
is adjusted to exclude nonconsumer loans on
the same basis as previously described for
commercial banks. The amount of nonconsumer paper in other components is negligible.
Estimates of credit union holdings of consumer instalment credit during the 1920's and
1930's from the Russell Sage Foundation (Rolf
Nugent), the National Bureau of Economic
Research, and the Department of Commerce
were comparable with these later estimates
except for the adjustment to exclude real estate
loans. Throughout most of the period virtually
all loans were personal instalment loans, with
a small amount of lending for automobile purchases and for home repair and modernization
beginning in the mid-1930's.
Estimates of monthly repayments on instalment loans by type of loan are derived through
the use of collection ratios at commercial
banks.
Consumer finance companies. Estimates for
consumer finance companies cover the consolidated consumer lending operations of companies that have one-half or more of their
consumer receivables in loans made under
effective State small loan laws. Consequently,
the bulk of the credit they extend is in the
form of direct personal loans to consumers.
Information in the 1950 Regulation W registration statement indicated the need for some
revision in the series as constructed at that
time. The statements revealed that a number
of institutions had classified themselves as small
loan companies although more than one-half
of their receivables were purchased paper on
automobiles or other consumer goods. Hence,
it was necessary to reclassify them as sales
finance companies.
15
standing at a sample of mutual savings banks
have been collected and published by the
National Association of Mutual Savings Banks.
This item consists largely of loans to individuals, and percentage changes in it were applied to the June and December figures for
consumer loans, described above, to obtain
monthly estimates.
Prior to June 1947 no monthly information
was available, and consumer loans outstanding
at mutual savings banks were estimated for
the months between June and December dates
on the basis of the changes in consumer loans
at commercial banks, with the monthly estimates adjusted to benchmarks by the straightline method.
The estimates of total credit outstanding are
distributed by type of credit on the basis of
benchmark information from periodic call report data (since June 1961) and from the
1950 registration statement. Proportions for
earlier dates were extrapolated, employing
commercial bank data in the same way as described earlier for credit unions. The singlepayment loan category and the repair and
modernization component are adjusted to exclude nonconsumer loans, using the same percentages that are used for commercial banks.
Estimates of monthly repayments of instalment loans assume that the collection ratios
for each type of credit are the same for mutual
savings banks as for commercial banks. The
commercial bank ratios are applied to balances
at mutual savings banks at the end of the preceding month. Extensions are then calculated
as the residual.
Savings and loan associations. In addition
to their primary activity, which is to make real
estate mortgage loans, savings and loan associations make two types of loans that fall in
the consumer credit category: (1) repair and
modernization loans and (2) loans to stockholders against their share accounts in the
association. Repair and modernization loans
are a part of the instalment loan category.
Share loans, however, are included in the
in loans by type as shown by the State supervisory reports for States having small loan laws.
Monthly estimates for each year of the decade ending September 1950 were obtained
by applying to the preceding year-end estimate
(as adjusted to the 1950 benchmark) the
month-to-month percentage changes for the
particular year as indicated by the reporting
sample of consumer finance companies. The
monthly estimates were then adjusted to the
year-end estimate by the straight-line method.
Changes in the types of loans held by consumer finance companies were assumed to be
similar to those reported by commercial banks
in the 1940-45 period and to those for industrial loan companies in 1946-50.
Year-end estimates of personal instalment
loans outstanding at consumer finance companies for the period before 1939 are those
prepared by Rolf Nugent. These estimates
account for virtually all of the consumer credit
held by State-regulated companies. These companies also engaged in a small amount of
lending for the purchase of automobiles and
major household durable goods and for home
repair in the years immediately before World
War II.
Mutual savings banks. Benchmark information on consumer credit outstanding at mutual
savings banks became available from regular
reports of condition made twice each year to
bank supervisory agencies effective with data
for June 1957. Before that, the item "other
loans to individuals" outstanding at such institutions was available from the all-bank series
for June and December dates beginning with
1947 and for June dates 1943-46. Data for
loans other than mortgage loans were reported
for insured mutual savings banks for June and
December back to 1939, and these were used
with all-bank data in estimating consumer loans
at all mutual savings banks for December dates
in 1943-46 and for June and December dates
back to December 1939.
Beginning with June 1947, monthly data on
total loans other than mortgage loans out-
16
single-payment loan category of noninstalment
credit under "other financial institutions."
The Federal Home Loan Bank Board has
made available for year-end dates back to 1939
information on (1) the total amount of loans
not secured by first mortgages held by all savings and loan associations and (2) the amount
held by associations that are members of the
Federal Home Loan Bank System (that is,
Federally chartered associations). The latter
total is broken down between secured (share)
and unsecured (repair and modernization)
loans.
To obtain totals for repair and modernization loans for all associations, it is necessary
to estimate the amounts of these loans held
by nonmember associations. The distribution
of total loans at member savings and loan
associations according to secured or unsecured
types is used to estimate the breakdown for
nonmember associations. The totals for repair and modernization loans are then adjusted to exclude nonconsumer loans by
applying the same percentages used to adjust
such loans held by commercial banks.
Monthly figures for repair and modernization loans at all savings and loan associations
between benchmarks are estimated on the basis
of the relationship to such loans at commercial
banks on the most recent benchmark date.
These monthly estimates subsequently are adjusted to the end-of-year benchmarks by
straight-line interpolation.
Monthly repayments of repair and modernization loans are estimated by using the collection ratio for such loans at commercial banks,
and extensions are calculated as a residual.
Monthly estimates subsequently are adjusted
to end-of-year data on outstanding credit by
the straight-line method.
The benchmark estimates for repair and
modernization loans are subtracted from total
nonmortgage loans in order to derive benchmark estimates for share loans outstanding.
Monthly estimates of share loans at savings
and loan associations are extrapolated from
these benchmarks on the basis of their relationship to single-payment loans at commercial
banks. The estimates are adjusted to end-ofyear benchmarks by the straight-line method.
Industrial loan companies and other lending
agencies. Monthly estimates of instalment
credit outstanding at industrial loan companies
and other lending agencies are based on reports from a sample of about 60 companies
accounting for approximately 10 per cent of
the total credit held by these companies. They
report their outstanding balances and extensions during the month, by type of loan.
As in the preparation of estimates for most
other types of lenders, the percentage change
during a month in sample outstandings is applied to the preceding month-end balance to
obtain an estimate of outstanding credit by
type for the current month-end. Collection
ratios for the sample group are applied to universe outstandings to estimate repayments, and
extensions are calculated as the residual. The
method used involves weighting of sample reports by Federal Reserve district. When new
benchmarks become available, the monthly
figures are adjusted to the new levels. All
estimates for repair and modernization loans
are adjusted to exclude the nonconsumer portion in the same manner as for commercial
banks.
Benchmark data for this category of lenders for recent years were obtained in the
Surveys of Finance Companies for 1955
and 1960. In the 1960 Survey, reports were
returned by approximately 1,600 industrial
loan companies, cooperative credit associations, and loan funds operated by churches,
fraternal orders, or others. The Regulation W
registration statement for the end of September 1950 provided the most complete benchmark for these institutions in earlier years.
For the period December 1939 through
September 1950, separate monthly estimates
were made for industrial loan companies and
for all other lenders. These monthly estimates,
described below, were then combined and the
17
totals were adjusted to the 1950 registration
statement figures by the straight-line method.
For industrial loan companies the monthly estimates for the December 1939-September 1950
period were made by applying the monthly
percentage changes shown by the reporting
sample to an estimate for the end of 1944 derived from a special Federal Reserve survey.
Year-end estimates before 1939 were derived
from the Nugent (Russell Sage Foundation)
estimates for industrial banking companies and
from information for States in which industrial
loan companies operated. The other component of Nugent's series, industrial banks, is included in the commercial bank estimates for
those years.
For the other lenders monthly estimates for
the period December 1939 through September
1950 were benchmarked on an estimate for
the end of 1939 prepared by the Russell Sage
Foundation. These monthly estimates were
obtained by applying to the end-of-1939 figure
one-half of the percentage change shown by
the sample of consumer finance companies,
since over that period the amount of credit
held by such companies had increased about
twice as rapidly as for the group of miscellaneous lenders. Year-end estimates prepared
by the Russell Sage Foundation were used also
for the period prior to 1939.
Distributions by type of loan for industrial
loan and consumer finance companies were
based on data from the 1950 registration statement and carried through the period 1944-51,
using changes for each type of loan reported
by the industrial loan company sample. Prior
to 1944, the distributions were based on data
for commercial banks.
arising from sales of automobiles and other
major durable goods to consumers. Only that
part of the instalment paper that retailers own
and carry on their books as customer accounts
is included in the estimates for retail outlets.
The remainder is included in estimates for the
banks, sales finance companies, or other institutions that purchase the paper. Noninstalment (charge-account) credit arising from retail sales is nearly always carried on the retailers' books.
General estimating methods.
RETAIL OUTLETS
Retail outlets hold nearly one-eighth of consumers' instalment receivables. In addition,
they originate and then sell to financial institutions a large part of the instalment paper
Estimates
of
consumer instalment credit held by retail outlets are based largely on data from monthly
reporting samples. Those reporting currently
to the Federal Reserve System—department
stores, furniture stores, household appliance
stores, and four large mail-order companies—
hold around two-thirds of all consumer instalment credit outstanding at retail establishments.
Estimates for these kinds of business are customarily adjusted to year-end benchmarks for
instalment accounts receivable as compiled by
the Bureau of the Census in its Retail Trade
Survey.
Outstanding credit at the remaining kinds
of business, for which the Federal Reserve
System does not collect monthly sample data,
are estimated by kind of business between
benchmark dates and extrapolated from the
latest year-end benchmark by using ratios of
receivables to weighted sales derived from the
Bureau of the Census Survey data. These estimates, published monthly in the Federal Reserve Bulletin and in the "Consumer Credit"
release (G.19), are shown for department
stores and mail-order companies combined,
and separately for furniture stores, household
appliance stores, automobile dealers, and "all
other" retailers.
It is necessary to make two adjustments in
the figures that the Bureau of the Census reports for retail receivables so that they will conform to the consumer credit concept. The first
is to add an estimate for the amount of consumer credit arising from retail sales made at
18
wholesale outlets. The second is to deduct nonconsumer credit owed to retail outlets. Both are
percentage adjustments derived from detailed
data for credit sales and for accounts receivable
which were collected in the Census of Business
in 1939 and 1948. In addition, the second
adjustment utilized the proportion of retail commodity sales made to consumers, as estimated
by the Bureau of Labor Statistics in its inputoutput studies.
Wholesale adjustment.
The estimated
amounts added to the series to cover consumer
credit extended by wholesalers have been adjusted to Census benchmarks for both 1939
and 1948. In the 1948 Census of Business for
Wholesale Trade, data were collected for
wholesale sales by line of trade and by class
of customer, with separate totals for a category defined as "sales to household consumers,
individual users, and to farmers." Sales in
this category were concentrated in a relatively
few wholesale firms that did a large retail
business and used credit practices similar to
those of competitive retailers. Two types of
wholesale outlets—"merchant wholesalers" and
"manufacturers' sales branches (with stocks)"
—included lines in which a substantial proportion of total sales were to consumers.
The estimates of credit sales and credit receivables of the household consumer group in
each of those trade lines were made as follows:
1. The distribution of sales by type of transaction (credit or cash) was made on the basis
of the distribution in comparable retail trade
lines as indicated by the Census of Retail
Trade.
2. Year-end estimates of instalment and
charge accounts receivable were estimated by
applying to the estimates of instalment sales
and charge sales, respectively, the ratios of instalment receivables to sales and of charge
receivables to sales, at retail stores in comparable trade lines.
Available information indicated that virtually all of the wholesale credit to consumers
was on a charge-account basis, and this was
the assumption used for the purpose of adjusting estimates to data from the 1939 Census.
Nonconsumer
adjustment. The nonconsumer adjustment in the 1939 Retail Census
data eliminated from both the charge and the
instalment sectors those kinds of business that
were predominantly nonconsumer: lumber and
building material dealers; plumbing, paint, and
electrical supply stores; farm equipment dealers; feed, farm, and garden supply stores; and
office and store machinery and equipment
dealers. This adjustment assumed that the
amount of consumer receivables held by the
kinds of business excluded were roughly equal
to the nonconsumer receivables of those trade
lines that were retained.
The adjustment in the 1948 Retail Census
data, on the other hand, eliminated the nonconsumer portion of the credit held by each
kind of business; for this purpose, ratios derived in an input-output study of the Bureau of
Labor Statistics, mentioned earlier, were used.
Estimates of nonconsumer instalment and
charge-account receivables for each trade line
were derived from nonconsumer sales (estimated as mentioned earlier) by using ratios
of receivables to sales based on the Census
for Wholesale Trade and the Census for Retail
Trade. Available sources indicated that in most
cases the retail ratio was not representative of
the relationship between nonconsumer receivables and nonconsumer sales. Hence it was
necessary to use the wholesale ratio. The particular wholesale ratio to be used was selected
on the basis of the distribution of nonconsumer
sales by commodities. If the nonconsumer sales
of a given kind of retail business were largely
in one commodity line, a single appropriate
wholesale ratio for that line was used. But if
these sales were distributed among several commodities, a weighted average of the several
appropriate wholesale ratios was employed.
In a few kinds of retail business nearly all
of the sales were to nonconsumers, with the
result that the retail ratio of receivables to
19
sales was heavily weighted by the nonconsumer transactions. Wholesale ratios for these
lines of business appeared to differ from the
retail relationships so much as to be inappropriate for use with the reported retail receivables. In such cases retail relationships were
used. This was true of the adjustments for
lumber dealers, business machine dealers, and
gasoline stations.
Through a spot check it was found that,
except at automotive and farm machinery
dealers, nonconsumer credit sales were on a
charge-account rather than an instalment basis.
Therefore, it was not necessary to make nonconsumer adjustments for most of the instalment components.
Retail instalment credit by holder. For estimating purposes, instalment credit held by
retailers is divided into five categories: department stores, mail-order companies, furniture
stores, household appliance stores, and "all
other" retail stores.
Department stores. For nearly three decades
department store accounts receivable have been
reported to the Federal Reserve System by a
comprehensive sample of stores. The current
monthly estimates of consumer credit outstanding are based on reports from about 500 stores.
These stores are representative of all 12 Federal Reserve districts. Approximately 400
stores report both charge and instalment outstandings and collections, while the remainder
report these figures only for charge accounts.
The sample represents more than two-thirds of
the national total for each type of credit outstanding. Department store outlets of the large
mail-order companies are not included in this
sample, but are incorporated regularly in consolidated reports from such companies.
Each Federal Reserve district reports
monthly totals for instalment and charge accounts receivable and collections of respondent
stores. These data are combined into national
totals weighted by Federal Reserve district.
From the totals for the nation as a whole,
these two figures are calculated: (1) the per-
centage change for the month in accounts
receivable and (2) the ratio of collections
during the month to receivables at the end of
the preceding month. (Weights based on 1948
Census data are up-dated regularly to reflect
changes in the relative importance of each
Federal Reserve district in the total. ) The
percentage change so derived each month is
applied to the estimate for the preceding month
to obtain the estimate of accounts receivable
at the end of the current month. Weighted
collection ratios are applied to the amount outstanding for the preceding month to give an
estimate of repayments. Extensions for the
current month are then derived by subtracting
from outstanding credit at the end of the current month the total outstanding at the end of
the preceding month and then adding current
repayments.
Estimates have been adjusted to Census
findings for 1939 and 1948 and in the later
years compared with the results of the Census
annual survey. Since the beginning of the
Census survey program, which the Board
helped to initiate in the early 1950's, the Federal Reserve estimates of accounts receivable
and those from the Census surveys have corresponded so closely that no adjustment has
seemed necessary.
For the 193O's and 1940's the department
store data are adjusted to findings of the
annual Retail Credit Survey conducted by the
Department of Commerce until 1941 and then
by the Federal Reserve through 1951. For the
earlier years of this period as well as for most
of the 1920's, total accounts receivable at
department stores were available from Rolf
Nugent's estimates, which were based on
returns from a national sample of department stores. Since the Nugent estimates
covered all general merchandise stores, they
were considerably higher than the combined
charge-account and instalment estimates for
department stores in years when the series
overlapped, but the year-to-year movements
in the two corresponded closely. Therefore,
20
percentage changes in the Nugent series were
used to carry estimates of total department
store receivables back to 1923. Percentage
changes were used also to develop figures for
total receivables in the 1919-22 period, but
these were based on a more limited coverage.
The instalment portion of accounts receivable at department stores had been estimated
for the years 1925-40 by Duncan Holthausen
using data from the Federal Reserve together
with information from the Department of
Commerce, the National Bureau of Economic
Research, and retail trade associations. During 1928 and 1929, the earliest years for
which separate figures for both charge and
instalment accounts receivable were available,
charge accounts constituted the bulk of the
total. The proportion of total credit transacted on an instalment basis was extremely
small at that time, but it was increasing. The
estimated division of receivables by type for
the period up to 1928 took into account both
the upward trend in instalment credit and the
effects of changing economic conditions on
the use of each type of credit.
After the division of accounts receivable between charge and instalment had been made,
the year-to-year changes in estimated charge
accounts receivable were compared with
changes in early Federal Reserve estimates of
department store sales. A high degree of
correlation existed between the two. Comparison with fragmentary information for that
period indicates that the estimating error is
probably small.
Mall-order companies Although charge accounts receivable at mail-order companies are
reported separately only for benchmark dates,
the instalment balances and collections on these
balances have been reported monthly since
1929 by the four large companies. These
instalment balances account for virtually all
of the mail-order company receivables.
Currently totals for amounts outstanding and
collected are reported separately by these companies for each type of holder; that is, separate
21
figures are shown for the amount held by the
parent company, that sold to banks, and that
transferred to sales finance companies, including subsidiaries. These data are not shown
separately in the materials published by the
Board but are combined with corresponding
estimates for department stores, banks, and
finance companies, respectively. Extensions for
each type of holder are derived by adding current repayments to the change in outstandings
recorded during the current month.
Historically figures for instalment credit outstanding at mail-order companies are available from several sources. Rolf Nugent published year-end figures for the years 1923-37
together with percentage changes for earlier
years. Instalment receivables also have been included in Moody's Industrial Manual; however, these figures are less meaningful because
for several years in the early 1920's they included such items as real estate mortgage loans
and employee loans in reported totals for
customer accounts receivable.
Furniture stores. Current monthly estimates
of accounts receivable at furniture stores are
based on reports of nearly 450 stores throughout the United States, which provide figures
on both instalment and charge accounts outstanding and collected. Reporting stores account for approximately one-eighth of all instalment accounts receivable held by stores
of this type.
Instalment credit outstanding at all furniture
stores is estimated as follows: percentage
changes in the sample data by Federal Reserve
districts are combined into a weighted percentage change for the United States. The weights
used were derived from a special Census tabulation by Federal Reserve districts as of the
end of 1948. The percentage change is applied to the preceding figure for instalment
credit. Then for sample stores, district ratios
of collections during the month to accounts
receivable at the end of the preceding month
are combined similarly to obtain a weighted
total ratio for collections. An estimate of re-
payments is obtained by applying this weighted
collection ratio to the estimated total outstanding at the preceding month-end. Extensions
for the current month are then derived by subtracting from outstanding credit at the end of
the current month the preceding month's outstanding credit and then adding repayments
for the current month.
Estimates of instalment credit outstanding
are adjusted regularly to end-of-year figures
from the Census Survey of Retail Trade. Other
benchmark data for the monthly furniture store
series were provided by the 1939 Census and
by the Retail Credit Survey through 1951.8
The Survey respondents held about one-fourth
of the instalment receivables of all furniture
stores.
A small adjustment is made in the benchmark for consumer credit arising from instalment sales to consumers by wholesalers. Nonconsumer transactions on instalment credit at
retail furniture stores are too small to require
adjustment.
The series as constructed goes back to
December 1939 on a monthly basis. The yearend estimates for 1919-38 are extrapolations
based on Rolf Nugent's aggregates for 1923-38
and his estimates of annual percentage changes
for prior years.
The instalment component of total credit at
furniture stores was estimated for 1926-38
using Retail Credit Survey data as adjusted
(and extended back from 1928 to 1926)
jointly by the Department of Commerce
and the National Bureau of Economic Research.9 These estimates include paper sold as
well as that retained by the dealer, but this
seems of little consequence since data from
the Retail Credit Survey and from the Census,
as well as information from sales finance company reports covering a long period, indicate
8 Conducted by the Department
period
1928-41 and by the Federal
9
Duncan McC. Holthausen, The
stalment Credit, 1929-38 (National
search, 1940).
that furniture stores sold little paper to financial institutions.
For 1919-25 instalment credit was estimated
as a percentage of total credit, the trend in
this percentage being extrapolated back from
1926-38 with the aid of Seligman's separate
figures for instalment and charge credit at furniture stores in 192310 and Ayres' 1923 and 1925
totals for the instalment component.11
Charge-account credit was then estimated
as a residual for this 1919-38 period, the results being checked against the movement
shown by Raymond Goldsmith's estimates of
expenditures of nonfarm individuals for household goods.12
Household appliance stores. Estimates of
instalment accounts receivable and collections
of household appliance stores are based on
monthly reports of some 50 stores representing about 10 per cent of all instalment accounts receivable in this category. Benchmark
data for this series, as for furniture stores, are
derived from Census data and from Retail
Credit Surveys. In most of the Survey years
some 2,000 household appliance stores reported, providing instalment receivables coverage of about 25 per cent of the national total.
Current monthly estimates are derived by
applying to the preceding month-end estimate
for credit outstanding a weighted percentage
change figure. As in the furniture stores series,
percentage changes in the sample data by Federal Reserve district are weighted to obtain a
national figure. Monthly collection ratios (instalment collections as a percentage of the
end of preceding month's instalment receivables) for the sample are applied to estimated
total instalment accounts receivable to obtain
monthly aggregates for collections. Estimates
of credit extended are derived by subtracting
10
E. R. A. Seligman, The Economics of Instalment Selling,
Vol.
I (Harper and Brothers, 1927).
11
Milan V. Ayres, Instalment Selling and Its Financing (a
pamphlet, Third National Automotive Financing Conference,
The National Association of Finance Companies, Chicago,
November 15-16, 1926).
12
Raymond W. Goldsmith, A Study of Saving in the United
States, Vol. I (Princeton University Press, 1955).
of Commerce during the
Reserve thereafter.
Volume of Consumer InBureau of Economic Re-
22
stores; automobile tire and accessory stores;
gasoline service stations; general merchandise
stores; and all other retailers. Estimates of
the amount outstanding for these two groupings (with no breakdown for the components
of "other retail outlets") are published monthly
in the Federal Reserve Bulletin and on the
"Consumer Credit" release (G.19). Estimates
for credit held by automobile dealers are based
on end-of-month estimates of the Bureau of
the Census for dealer-held receivables. For
the most recent months, estimates are based
on the changes in automobile paper outstanding at financial institutions; later they are adjusted to the Census data. For the period before 1961 a ratio-to-weighted-sales method was
used for estimating outstandings between
benchmark dates; this method is described
below.
Credit extended by automobile dealers is
estimated by reference to the amounts of
credit they hold, using the month-to-month
relationships of automobile credit extended to
that held by banks, finance companies, and
other nonretail groups. Repayments are computed by subtracting outstanding credit at the
end of the current month from the amount
outstanding at the preceding month-end and
then adding current extensions. For the 1930's
and 1940's the annual Retail Credit Survey
provided benchmark information for automobile dealers.
Current benchmark data for each of the remaining major types of retail instalment credit,
which make up the "other retail outlet" group,
are derived from year-end Census figures for
instalment accounts receivable. These have
been interpolated and extrapolated by indicator series based on lagged sales. The sales data
used are those reported by the Census Bureau
each month. The lag patterns are of the
form :
iSo , ( n - 1)S,
from outstanding credit at the end of the current month the preceding month's outstanding
credit and then adding repayments for the
current month. The current monthly series for
appliance stores is adjusted by the straight-line
method to Census data for year-end instalment
accounts receivable.
The estimates of instalment accounts receivable for years prior to 1940 were derived in
part from data in the Retail Credit Survey and
in part from Nugent's series for utility-operated and other household equipment stores.
This distinction by type of store was not made
in estimates from 1939 forward, or in estimates
for earlier years made by Ayres, Seligman, and
the National Bureau of Economic Research,
or in any of the Retail Credit Survey data. The
method of estimation for the period before
1940 was the same as that described for furniture stores.
In estimating consumer instalment credit
for the 1930's and 1940's, the National Bureau
of Economic Research and the Department of
Commerce included in the estimated holdings
of appliance dealers both the amounts held by
dealers and the amounts sold to financial
institutions. Household appliance stores generally sell a larger proportion of their paper to
financial institutions than do other kinds of
nonautomotive retailers. The Retail Credit
Survey for several years and, for some overlapping and earlier years, Nugent's estimates
of intermediary financing provided data for
allocating to financial institutions that portion
of the paper that appliance stores had originated and then sold.
All other retail stores. The Federal Reserve
does not collect monthly data for instalment
credit held by the remaining kinds of retail
stores. However, it does prepare monthly estimates for automobile dealers, even though they
customarily hold only a small fraction of the
instalment paper they originate, and for "other
retail outlets," a group that represents seven
other types of retail trade: jewelry stores;
lumber, building, hardware dealers; apparel
(n-2)S_,
23
(n-3)S-3
maturity of instalment contracts) weighted
successively 5,4,3,2, and 1, beginning with the
most recent month.
The values of n used for each line of business are those found empirically to minimize
the error in movement of the indicator series
from one benchmark to the next.
Sources for benchmark data prior to 1940
are the same as those for household appliance
stores.
Extensions and repayments for these retailers
have not been reported monthly to either the
Bureau of the Census or the Federal Reserve.
Census data for 1939 and 1948 permitted
derivation of an average collection ratio for
each component. A relationship of these ratios
to the collection pattern shown by the Federal
Reserve sample of department stores was
established for each of the seven groups. These
relationships, adjusted from time to time for
differences in certain credit patterns, have been
used with the currently reported department
store data to estimate repayments relative to
outstandings and to derive instalment extensions of the "all other retail" group.
Where
Reco is the indicator of receivables at the end
of the given month,
n is the average number of full months given
buyers to pay for credit purchases in the particular line of business, and
S is sales during the month.
A more concise expression of this formula is:
Reco = / (-i
where S_i is sales in ith month preceding period.
For example, if a dealer's instalment contracts averaged 5 months to maturity (assumed
to be paid exactly on schedule), his receivables
for any particular month would be composed
of all of the most recent month's instalment
credit granted, four-fifths of the amount for
the previous month, three-fifths for the second
previous month, and so forth. This suggests
that, in this case, the most reasonable relationship between receivables and sales would be
one that made the receivables of any given
month a function of the previous 5 months'
sales (the number of months equal to average
ESTIMATES OF NONINSTALMENT CREDIT
collected by the Federal Reserve Banks. As
of June 1963 the sample included about 375
banks, accounting for approximately onefourth of all single-payment loans held by
commercial banks.
Monthly estimates of single-payment loans
are adjusted to benchmark totals by the
straight-line method. These benchmarks—like
those for bank-held instalment credit—are obtained from the regular reports of condition
made to supervisory agencies by all commercial banks.
According to a 1952 survey covering about
8,700 such loans in 180 commercial banks,
about one-half of the volume of all singlepayment loans made by commercial banks to
individuals are for nonconsumer purposes.
Consumer noninstalment credit represents
obligations of consumers scheduled to be retired in a single payment. This ordinarily takes
the form of open-account transactions, with
payment due upon billing.
Noninstalment credit is divided into three
classes: single-payment loans, charge accounts,
and service credit. Single-payment loans are
held primarily by commercial banks, while
charge accounts and service credit are owed
to a variety of establishments and professional
practitioners.
SINGLE-PAYMENT LOANS
Monthly estimates of single-payment loans at
commercial banks are based on sample data
24
Hence, in order to develop benchmark data
for consumer single-payment loans, total holdings of such loans as reported semiannually by
commercial banks are reduced by that percentage.
Single-payment loans also are held by
mutual savings banks, savings and loan associations (share loans), and pawnbrokers. In
the noninstalment credit series their holdings
are grouped under the label, "other financial
institutions." Sources of data and estimating
methods for single-payment loans at mutual
savings banks and savings and loan associations are described earlier in the sections dealing with instalment credit at those institutions.
For pawnbrokers, monthly values are
straight-line interpolations between year-end
figures, based on original estimates made by
Rolf Nugent for the years 1923 through
1937.1 { These estimates cover all of the credit
extended by pawnbrokers, but do not include
forfeited pledges. The Nugent estimates are
brought forward on the basis of annual information available from supervisory authorities of four States (Indiana, New Jersey, Oregon, and Pennsylvania) and published reports
of some large companies in other States. Currently, these sources cover about 25 per cent
of the estimated total credit outstanding at
pawnshops included in the single-payment loan
series.
nationwide sample of about 500 stores accounting for nearly 90 per cent of all such credit.
Month-end estimates are prepared from
weighted Federal Reserve district totals in the
same manner as the estimates of instalment
accounts receivable at these stores.
Bureau of the Census data indicate that the
small amount of charge-account credit outstanding at mail-order companies moves in
about the same way as such credit at department stores. Since separate figures for charge
accounts of mail-order companies are not
available monthly, the totals for department
stores and mail-order companies combined are
interpolated between benchmark dates by use
of the monthly reports of charge accounts receivable at department stores. Sources are the
same as those described in the discussion of
instalment accounts receivable at department
stores.
Estimates of charge accounts receivable were
adjusted by the straight-line method to Bureau
of the Census findings by Federal Reserve district for 1939 and 1948. Estimated national
totals for later years have been compared with
year-end figures from the Census Surveys of
Retail Trade, but no adjustment has been
necessary. For earlier years benchmark data
were provided by Rolf Nugent's estimates and
by Retail Credit Surveys.
Other retail outlets. For estimating charge
accounts outstanding, retail outlets other than
department stores and mail-order houses are
divided into eleven groups: other general merchandise stores; furniture stores; household appliance stores; jewelry stores; the hardwarelumber group; the apparel group; the food
group; drug and proprietary stores; automobile tire and accessory stores; gasoline service
stations; and all other retail stores.
Furniture stores. Charge accounts of furniture stores are reported monthly to the various
Federal Reserve Banks. The district figures
are combined into a weighted U. S. total. These
data have been adjusted to Census findings for
1939 and 1948 and, insofar as necessary, to
CHARGE ACCOUNTS
Estimates of charge accounts receivable are
divided into three major categories according
to holder: department stores and mail-order
houses; other retail outlets; and gasoline and
fuel oil companies and general credit-card
businesses.
Department
stores
and
mail-order
houses.
Charge accounts receivable at department
stores are derived from monthly reports of a
1
Nugent, op. cit., pp. 374-82.
25
eludes estimates for the amount outstanding on
general credit cards, that is, those covering
travel, dining, and miscellaneous expenses.
Estimates of gasoline and fuel oil credit in
this sector exclude any amounts outstanding at
establishments classified as retail trade. The
amounts included in the credit-card estimates
cover only the consumer portion, which for
most of the components accounts for one-fifth
or less of the total amount owed by all holders
of these cards.
Consumer use of credit cards has grown
rapidly since World War II. Benchmark data
based on a 1958 survey of all companies extending credit of this type provided a basis for
carrying the series back to 1948. Although
gasoline credit cards were in limited use before the war, the amount of such credit outstanding was negligible, and no attempt has
been made to prepare estimates for those years.
Currently, the series is based on monthly
reports of receivables from a sample of oil
companies selected by size of 1958 customer
receivables to be representative of gasoline
credit card and fuel oil credit used by consumers. Month-to-month percentage changes
derived from sample data are weighted in
three size groups to give a monthly percentage
change, which is then applied to the estimated
total outstanding balance at the end of the
preceding month to obtain an estimated total
of outstandings at the end of the current month.
Monthly or quarterly reports from the major
companies in the general credit-card field provide a basis for estimating that portion of the
total.
Nonconsumer adjustments for all credit-card
components are based on percentages of the
total outstanding balances. These percentages
are derived from estimates provided by the
individual respondents.
year-end estimates by the Bureau of the
Census. Retail Credit Surveys provided benchmark data for the 1930's and a basis for estimating a split in the Nugent figures for earlier
years. (See section describing estimates of instalment receivables at furniture stores.)
Other. Data on charge accounts receivable
have not been collected by the Federal Reserve
for the remaining kinds of business during most
of the period covered by the consumer credit
series. For the years 1953-58, the Bureau of
the Census made only year-end estimates, but
since then it has made month-end estimates for
major kinds of business; however, these have
not been available in time for use in the current consumer credit aggregates.
The Bureau's year-end estimates, adjusted to
include consumer credit extended by wholesalers and to exclude nonconsumer credit extended by retailers, are used as benchmark
data. Monthly estimates between benchmarks
are interpolations based on weighted sales.14
Errors accumulated during a 12-month period
through use of this method generally have been
extremely small.
Prior to 1953 the series has been adjusted
to the benchmark estimates provided in the
Censuses of 1939 and 1948, the Retail Credit
Surveys made by the Department of Commerce
or by the Federal Reserve in the 1930's and
1940's, and Rolf Nugent's estimates of total
retail receivables in the 1920's and early 1930's
when all or nearly all credit transactions at
most kinds of business were on a charge-account basis.
Credit cards. The credit-card category consists primarily of oil-company receivables,
arising from consumers' use of gasoline credit
cards and purchases of fuel oil. It also in14
Tests made on series for which both sales and charge
accounts receivable were available monthly showed that the
smallest average difference between reported receivables and
the movement described by a weighted sales series occurred
with a 3-month weighting system. This is in general agreement with information available on the average period of
time elapsing between purchases on and payment of charge
accounts. Differences by kind of business appeared to be
small; consequently, the 3-month weighting pattern was adopted
for all remaining retail groups.
SERVICE CREDIT
Service credit is the amount owed by individuals to professional practitioners and service
establishments. Estimates are made for all
26
service areas in which any appreciable amount
of consumer credit is known to exist. The
quality of some of the component estimates is
below the standards maintained in other segments of the series, but these estimates are included in order to give the most complete
coverage possible for total consumer credit.
It appears that the estimates understate the
amount of credit in the service area.
The largest component of this type of credit
is the amount owed to hospitals, doctors, and
other medical practitioners.15 Another substantial component of service credit is that
owed to public utilities, which is measured after
deduction of deposits and prepayments. The
remainder represents amounts owed for a
variety of personal services such as cleaning
and dyeing, education, and recreation.
Services performed by retailers and financial
institutions are covered in other segments of
the consumer credit series and are excluded
from estimates of service credit. Even though
various other categories of service, such as that
provided by rental housing, account for a
large part of all consumption expenditures,
they too are excluded, either because the components fall outside the consumer credit concept or because the amount of credit involved
is negligible.
Medical care. Monthly estimates of service
credit owed by consumers to doctors, dentists,
and hospitals between benchmark dates are
trend projections based on data for absenteeism in industry as estimated over several years
by the Public Health Service.
For the period from 1952 through 1959,
annual estimates for medical debt as of the
end of January were provided by the Survey
of Consumer Finances, which was made for
the Federal Reserve by the Survey Research
Center of the University of Michigan. Figures
for subsequent years are based on the relationship of these estimates to the Department of
Commerce annual totals of consumption expenditures for medical care. The projected
ratio is applied to each year's expenditure estimate as it becomes available.
Estimates for the 1940's were extrapolated
on the basis of the relationship that existed in
the 1952-59 period. These estimates were
linked to Rolf Nugent's year-end estimates of
credit outstanding for services of private practitioners and hospitals to yield estimates for
the two decades prior to World War II.
Public utilities. The public utility segment
includes consumer credit outstanding for gas,
electricity, water, and residential telephones.
Monthly estimates for the period beginning
with 1950 are based on the following types of
reported data. (1) End-of-month figures for
indebtedness on Bell System residential telephones, net of advance billings and customers'
deposits, are supplied by the American Telephone and Telegraph Company. The series includes amounts owed on business toll calls
charged to residential telephones, but excludes
personal toll calls charged to business telephones. Data are not available to permit adjustment for these factors. (2) Semiannual
estimates of amounts outstanding for electric
and gas utilities are supplied by the Edison
Electric Institute and the American Gas Association. These estimates are net of deposits;
and they are adjusted to exclude prepayments
on budget fuel accounts, since the prepayments
involve no consumer credit. Monthly data between benchmark dates are interpolated
through use of seasonal patterns as shown in
studies made by the American Gas Association.
For the decade of the 1940's, year-end
figures were extrapolated by use of the Department of Commerce estimates of consumer service expenditures for gas and electricity.
Monthly interpolations between year-end points
were based on the percentage changes in
monthly data on employment and earnings in
gas and electric utilities published by the
Department of Labor. Estimates for each yearend in the 1920's and 1930's were based on
15
If consumers owe such credit to financial institutions, it is
classified as loan credit—either single-payment or personal instalment—rather than as service credit.
27
Nugent's estimates of service credit at public
utility companies.
Private education. The only educational institutions carrying any appreciable amount of
consumer credit are the colleges and universities.16 Correspondence schools generally operate on a pay-as-you-go basis, and the final
payment usually precedes or is coincident with
completion of a course. Most commercial
business and trade schools operate on a similar basis.
Benchmark data on the amount outstanding
on student loan funds at colleges and universities are from the Office of Education of the
Department of Health, Education, and Welfare. That Office conducts the Biennial Survey
of Education in the United States, which shows
credit arising from student loan funds and held
by institutions of higher learning. Amounts
outstanding on student loans from Federal
funds are not included in the biennial survey
totals, but the figures are available from the
Office of Education. Since the Federal loan
program was established in 1958, these figures
have been included annually in the benchmarks for service credit outstanding on higher
education. Straight-line interpolations are
used between benchmark dates. Monthly data
are extrapolated from the latest benchmark
date on the basis of the trend in the ratio of
student debt to Department of Commerce data
on expenditures for higher education.
Between 1936 and 1948, the Survey of
Education did not include an item for student
loan funds outstanding. Year-end estimates for
intervening years were based on the relationship of student debt to consumption expenditures for higher education as indicated in the
1936 and 1948 Surveys, with allowances being
made for the decline and subsequent rise in
student debt relative to expenditures during the
war and early postwar years. Prior to 1936
lt;
Loans for higher education made by financial institutions
are not included in the service credit sector of the consumer
credit estimates but in personal instalment loans of the institution holding the credit.
28
estimates for these loans outstanding were
made only in combination with credit for
recreation and other services. The totals were
small relative to the service total and were used
with the major service credit components.
Recreation. Consumer credit for recreation
arises principally from fees charged by golf
and other types of social clubs. Benchmark
data were obtained from the 1950 Survey of
Consumer Expenditures by the Bureau of
Labor Statistics, which reported both expenditures and amounts owed for recreation and
education combined. The estimate for recreation credit outstanding at the end of 1950 was
obtained by subtracting the amount outstanding on student loan funds from the estimated
total for recreation and education. Year-end
receivables have been estimated for later
years by applying to the annual consumption figures for recreation the 1950 relationship of the recreation credit estimate
to the Department of Commerce estimate
of consumption expenditures for recreation.
Monthly data are interpolated by the straightline method between year-end points. The
same method was used for making estimates
for years from the mid-1930's to 1950. As
mentioned above, separate estimates of recreation credit were not made for earlier years.
Funeral and legal expenses. Year-end estimates of credit outstanding for funeral and
legal services are extrapolated from a 1950
benchmark of such expenditures provided by
the Bureau of Labor Statistics' Survey of Consumer Expenditures, using relationships of
credit at the year-end to annual consumption
expenditure data provided by the Department
of Commerce. Monthly data are derived by
straight-line interpolation between year-end
points.
For receivables of one segment, funeral
directors and embalmers, secondary benchmarks based on the Business Census for 1933
and for 1935 were interpolated and extrapolated to 1950 by a corresponding series prepared by Rolf Nugent.
Cleaning, dyeing, pressing, and repair of
garments. Trade association data indicate that
cleaning and dyeing establishments transact on
a charge-account basis a substantial proportion
of their business—perhaps as much as onefifth of the total. Year-end estimates for credit
outstanding were derived from these data and
from the annual estimates of consumption expenditures for cleaning and dyeing from the
Department of Commerce. Monthly estimates
between year-end points are based on changes
in the Department of Labor's monthly data on
employment and earnings in cleaning and dyeing establishments.
Automobile repair services. Service credit for
automobile repairs includes only the amount
outstanding at service garages. Credit for
automobile repairs that is carried on the books
of automobile dealers and other retailers is
included in the consumer credit series either
in instalment credit on other consumer goods
or in charge accounts outstanding.
In making estimates for this sector, it was
assumed that the relationship of year-end re-
ceivables to consumer expenditures in service
garages (derived from the Department of Commerce data) would be the same as that shown
by charge accounts at automobile tire and accessory stores. Interpolation between year-end
benchmarks and extrapolation from the latest
year-end figures make use of the seasonal pattern for charge accounts of automobile tire
and accessory stores in deriving end-of-month
estimates.
Other services. Remaining services involving some consumer credit but for which no
benchmark or monthly credit data are available include radio, television, and other household repair services; accessory and jewelry
repair; and dressmaking (not in shops). Credit
for these services, which account for no more
than 1 per cent of all service credit, is estimated by assuming that one-tenth of the Department of Commerce figures for annual expenditures are made on a 30-day credit basis.
The straight-line method of interpolation is
used between year-end points.
SPECIAL ADJUSTMENTS
tended also tend to rise and fall twice during
the year. This is particularly true of nonautomotive consumer goods paper, which
shows wider seasonal variations than other
segments. This type of credit has its first seasonal peak late in the spring. From this point
it usually declines somewhat in the summer
months and then gradually increases during
the remainder of the year. It reaches its highest point with the Christmas peak in retail
sales.
Extensions of personal loans tend to expand
from a comparatively low level in January and
February to a high point around the middle
of the year. The increase during this period
is accelerated temporarily in the spring by an
expansion in loans to pay income taxes. Ex-
SEASONAL AND RELATED ADJUSTMENTS
The monthly amounts of instalment credit extended and repaid reflect various seasonal influences, for the most part closely related to
the expenditure patterns for the commodities
associated with each type of credit.
Automobile instalment credit extended, for
example, tends to increase during the spring,
with the seasonal expansion in automobile
sales. After some decline during the summer,
it tends to rise again in the fall when most new
models are introduced. Seasonal variations in
automobile credit extended have been somewhat less in recent years than before World
War II.
Two other types of instalment credit ex-
29
tensions of personal loans then decline gradually until about November, but increase sharply
thereafter to another seasonal peak in December.
Repair and modernization loan volume, on
the other hand, increases from a seasonal low
in January and February to a high during the
warm months, then drops off sharply near the
end of the year.
Because repayments on the typical instalment contract are distributed evenly over a
number of months, data on repayments show
much less variation than data on extensions.
The seasonal movements in repayments that
do occur are related to some extent to the
seasonal movements in extensions. The relationship between the two is a complex one because of the wide variety of contract maturities. In the case of personal loans, seasonal
variations in credit repaid tend to accompany,
in a dampened form, the seasonal fluctuations
in credit extended. This reflects to a considerable extent the importance of renewals, which
are reported both as repayments on old loans
and as extensions of new credit.
Seasonal adjustments for both the instalment credit extended and the credit repaid
series are calculated by using a variation of
the Census Method II for electronic computers.
This basic method was described in an article
by Julius Shiskin and Harry Eisenpress.17
Preliminary to the preparation of seasonal
factors, the automobile credit series is adjusted
for changes in the dates of new-model introductions, and all estimates are adjusted for
year-to-year differences in the number of trading days in each month.
In making trading day adjustments, unadjusted totals of credit extended and repaid in
a given month are multiplied by the ratio of
the average number of trading days per month
in that year to the actual number in the month.
The actual number in each month and year
17
"Seasonal Adjustments by Electronic Computer Methods,"
Journal of the American Statistical Association, December
1957, pp. 415-49.
30
is calculated for retail credit as the number of calendar days in the month or year
minus Sundays and principal holidays (New
Year's Day, Memorial Day, Independence Day,
Labor Day, Thanksgiving Day, and Christmas
Day). For credit held by financial institutions,
the count used for retail credit is modified by
deducting one-half of a trading day from a
given month and adding it to the following
month, whenever the last day of the month in
question falls on a Saturday, Sunday, or holiday. The number of trading days and the
seasonal factors used in making the adjusted
estimates for 1963 are shown in the accompanying table.
There are no series for extensions and repayments of noninstalment credit, but outstanding balances are adjusted for seasonal
variation and for the changing date of Easter
by using computer techniques similar to those
used for instalment credit. Monthly changes
in noninstalment credit, seasonally adjusted,
represent the differences between seasonally
adjusted outstandings.
Seasonal factors are reviewed for accuracy
annually at the time new benchmark data are
incorporated. Any revisions in the seasonally
adjusted figures that may result from this
review are published in the Federal Reserve
Bulletin.
STRAIGHT-LINE ADJUSTMENT TO
BENCHMARKS
In almost every segment of the consumer credit
statistics, preliminary estimates are adjusted
periodically to more complete annual or survey
data, much of it from the Bureau of the Census.
Since no information is available as to when
the difference between the preliminary estimates and the benchmark figures arises or at
what rate it has accumulated, it is assumed
that the observed error at the end of the period
has accumulated gradually over the entire
period, with the minimum error occurring at
the beginning of the period and the maximum
SEASONAL FACTORS AND NUMBER OF TRADING DAYS USED IN
ADJUSTING ESTIMATES OF CREDIT EXTENDED AND REPAID FOR 1963
Type of credit and institution
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Seasonal factors
Credit extended:
Auto paper
Commercial banks
Sales finance cos
Credit unions
Auto dealers
90.5
86.5
80.0
100.0
91.5
88.0
91.0
100.0
100.5
96.5
97.5
100.0
109.5
104.5
106.0
100.0
112.5
109.0
107.0
100.0
112.5
115.0
110.5
100.0
107.0
109.0
104.5
100.0
96.5
100 5
102.0
100.0
90.5
90 5
101.0
100.0
99.5
105.0
99.5
100.0
99.5
102.0
102.5
100.0
90.0
93.5
98.5
100.0
107 5
99.5
87.5
86.5
73.5
91.5
80.5
91.0
94.5
74.0
88.5
88.5
95.5
91.0
86.0
97.0
99.0
100.5
105.0
96.5
103.0
100.5
103.0
107.0
99.0
103.5
108.5
110.5
112.0
101.5
105.0
104.5
105.0
96.5
91.5
96.0
99.5
103.5
105.5
95.0
101.5
106.0
102.5
101.0
102.5
98.0
96.0
92.0
97.5
104.0
97.5
101.5
100.0
101.0
116.5
111.0
116.0
109.0
102.5
160.0
Home repair and modernization loans
Commercial banks
Miscellaneous lenders
73.5
70.5
75.5
80.0
84.5
100.5
104.5
88.0
114.0
129.5
115.5
100.0
112.5
103.5
110.5
124.0
112.5
109.0
106.5
94.0
102.5
116.0
88.0
85.0
Personal loans
Commercial banks
Sales finance cos
Consumer finance cos
Credit unions
Miscellaneous lenders
96.0
87.0
85.0
91.5
94.5
95.5
91.5
88.5
93.0
99.5
98.5
91.0
93.0
99.5
103.0
110.0
97.5
100.5
104.0
95.0
102.0
94.0
95.0
105.5
107.5
106.5
97.5
102.0
112.0
97.0
100.0
98.5
102.5
99.0
92.0
100.5
101.5
98.5
100.5
102.0
101.5
108.5
91.5
97.0
98.5
92.0
97.5
91.0
88.0
93.0
95.5
105.5
109.5
102.5
106.0
102.0
130.0
143.0
107.5
112.0
100.0
98.5
101.5
98.0
97.0
100.0
99.0
100.5
99.0
100.0
98.5
99.5
101.5
99.5
100.5
100.5
100.0
99.0
103.5
101.0
102.0
96.5
98.0
94.5
102.0
101.0
102.5
100.0
104.0
101.0
101.0
102.5
102.0
98.0
99.5
98.5
103.0
93.0
99.5
104.5
108.0
106.5
101.5
99.0
98.5
102.0
99.5
110.5
102.0
95.0
97.0
100.5
105.0
104.5
99.0
97.5
100.0
101.5
99.5
100.0
98.5
99.5
102.0
98.5
98.0
97.5
102.0
99.0
99.5
101.5
98.5
97.0
91.0
98.0
97.0
94.0
101.5
102.0
101.0
104.0
100.5
96.0
97.5
94.0
98.5
98.0
97.5
96.5
108.0
102.0
106.5
97.0
100.5
96.5
102.0
102.0
98.5
99.5
97.5
97.5
99.0
98.0
98.5
98.0
101.0
99.5
101.5
101.5
102.0
104.5
98.0
99.5
103.5
102.0
101.5
105.0
101.5
100.5
97.5
94.5
101.0
95.5
90.5
107.0
103.0
99.0
99.5
93.5
99.0
94.0
99.5
98.5
98.0
99.5
99.5
99.5
97.5
99.5
98.0
101.5
100.5
96.5
98.0
100.5
100.0
101.5
94.0
101.0
105.5
100.5
101.5
98.5
102.5
96.0
101.0
96.5
97.5
97.0
96.5
96.0
102.5
97.0
96.0
96.0
100.0
98.0
98.5
94.5
88.0
96.5
101.0
108.5
108.0
103.0
101.0
99.5
118.5
121.5
111.0
107.0
26
26.5
27
26.5
24
24.5
27
27
25
24.5
Other consumer goods paper
Commercial banks
Sales finance cos
Consumer finance cos
Credit unions
Retail outlets
Credit repaid:
Auto paper
Commercial banks
Sales finance cos
Credit unions
Auto dealers
Other consumer goods paper
Commercial banks
Sales finance cos
Consumer finance cos
Credit unions
Retail outlets
Home repair and modernization loans
Commercial banks
Miscellaneous lenders
Personal loans
Commercial banks
Sales finance cos
Consumer finance cos
Credit unions
Miscellaneous lenders
Number of trading days
Retail .
Financial
..
26
26
24
24
26
25.5
26
26.5
at the end. A straight-line type of adjustment
is used to provide a correction that corresponds to this assumption.
The table on page 32 illustrates how the
monthly estimates of personal instalment loans'
held by sales finance companies were adjusted
for the period from mid-1955 through mid1960 to Survey data for June 30, 1960.
26
26
25
24.5
25
25.5
According to data obtained in the Survey
for June 30, 1960, personal instalment loans
outstanding at sales finance companies totaled
$988,985,000 as shown in Column 4. The
estimate that had been made for that date,
based on sample data, was $970,835,000, as
shown in Column 2. The factors required to
correct the sample-based series—the ratios of
31
Column 4 to Column 2—moved up from
1.00000 for the June 1955 benchmark to
988 985
—-!—- or 1.01869 for the June 1960 bench9/0,835
mark. The growth in the factor over this 60month period totaled
>*™
- . = . 0 , 8 6 9 - ,00000 =
0.01869. The average monthly growth was
0.01869 -f- 60, or 0.00031. This was the factor
applicable to the first month after the initial
benchmark; the factor was double this percentage for the second month; triple for the
third; and so on. In this procedure the total
percentage error is divided into equal "percentage point" amounts and accumulated by
months.
A TYPICAL STRAIGHT-LINE ADJUSTMENT
(Dollar amounts in thousands)
Month1
Number
of months
between
Estimated
benchseries
marks
(2)
(1)
1955—June
2 $421,000
Correction
factor
(3)
Adjusted
estimates
(col. 2 x
col. 3)
(4)
31.00000 2$421,000
1955—July
Aug
Sept
Oct
Nov
Dec
1
2
3
4
5
6
427,000
431,000
434,000
438,000
447,000
465,000
1.00031
1.00062
1.00093
1.00124
1.00155
1.00186
427,133
431,269
434,406
438,546
447,696
465,869
I960—June
60
970,835
31.01869
4988,985
1
Computations are shown only for July-December 1955 and
for June 1960. Figures for intervening months were computed
in the same manner.
2
Benchmark from Survey of Finance Companies, June 30,
1955.
3
Benchmark ratio calculated as Col. 4 -f- Col. 2.
4
Benchmark from Survey of Finance Companies, June 30,
1960.
KEY TO SYMBOLS USED IN TABLES
N.S.A.
S.A.
Not seasonally adjusted.
Seasonally adjusted.
Zero;
Amounts insignificant in terms of the
particular unit (e.g. less than 500,000
when the unit is millions); or
No figure to be expected (e.g. one or
more series in a table may start at a
later date than others shown).
Minus signs are used to indicate a decrease.
32
1. TOTAL CONSUMER CREDIT, 1919-63
[In millions of dollars]
Instalment
End of period
Total
Total
Automobile
paper
Other
consumer
goods
paper
Noninstalment
Repair
and modernization
loans1
Personal
loans
Total
Singlepayment
loans
Charge
accounts
Service
credit
1919
1920
1921
1922
1923
1924
2,642
2,964
2,966
3,166
3,652
4,025
800
969
919
1,047
1,368
1,646
304
376
317
295
526
670
409
490
484
619
684
779
5
7
9
10
12
16
82
96
109
123
146
181
1,842
1,995
2,047
2,119
2,284
2,379
306
354
404
430
512
561
1,298
1,379
1,358
1,391
1,456
1,482
238
262
285
298
316
336
1925
1926
1927
1928
1929
4,715
5,227
5,344
6,258
7,116
2,115
2,363
2,319
2,935
3,524
914
977
765
1,134
1,384
951
,083
,183
,331
,544
22
24
26
28
27
228
279
345
442
569
2,600
2,864
3,025
3,323
3,592
671
745
812
928
1,040
1,549
1,701
1,765
1,901
1,996
380
418
448
494
556
1930
1931
1932
1933
1934
6,351
5,315
4,026
3,885
4,218
3,022
2,463
1,672
1,723
1,999
986
684
356
493
614
,432
,214
834
799
889
25
22
18
15
37
579
543
464
416
459
3,329
2,852
2,354
2,162
2,219
955
712
505
418
473
1,833
1,635
1,374
1,286
1,306
541
505
475
458
440
1935
1936
1937
1938
1939
5,190
6,375
6,948
6,370
7,222
2,817
3,747
4,118
3,686
4,503
992
1,372
1,494
1,099
1,497
,000
,290
,505
,442
,620
253
364
219
218
298
572
721
900
927
1,088
2,373
2,628
2,830
2,684
2,719
561
698
792
773
787
1,354
1,428
1,504
1,403
1,414
458
502
534
508
518
1940
1941
1942
1943
1944
8,338
9,172
5,983
4,901
5,111
5,514
6,085
3,166
2,136
2,176
2,071
2,458
742
355
397
,827
,929
,195
819
791
371
376
255
130
119
1,245
1,322
974
832
869
2,824
3,087
2,817
2,765
2,935
800
845
713
613
624
1,471
1,645
1,444
1,440
1,517
553
597
660
712
794
1945
1946
1947
1948
1949
5,665
8,384
11,598
14,447
17,364
2,462
4,172
6,695
8,996
11,590
455
981
1,924
3,018
4,555
816
1,290
2,143
2,901
3,706
182
405
718
853
898
1,009
1,496
1,910
2,224
2,431
3,203
4,212
4,903
5,451
5,774
746
1,122
1,356
1,445
1,532
1,612
2,076
2,381
2,722
2,854
845
1,014
1,166
1,284
1,388
1950
1951
1952
1953
1954
21,471
22,712
27,520
31,393
32,464
14,703
15,294
19,403
23,005
23,568
6,074
5,972
7,733
9,835
9,809
4,799
4,880
6,174
6,779
6,751
,016
,085
,385
,610
,616
2,814
3,357
4,111
4,781
5,392
6,768
7,418
8,117
8,388
8,896
1,821
1,934
2,120
2,187
2,408
3,367
3,700
4,130
4,274
4,485
1,580
1,784
1,867
1,927
2,003
1955
1956
1957
1958
1959
38,830
42,334
44,970
45,129
51,542
28,906
31,720
33,867
33,642
39,245
13,460
14,420
15,340
14,152
16,420
7,641
8,606
8,844
9,028
10,630
,693
,905
2,101
2,346
2,809
6,112
6,789
7,582
8,116
9,386
9,924
10,614
11,103
11,487
12,297
3,002
3,253
3,364
3,627
4,129
4,795
4,995
5,146
5,060
5,104
2,127
2,366
2,593
2,800
3,064
1960
1961
1962
1963
56,028
57,678
63,164
69,890
42,832
43,527
48,034
53,745
17,688
17,223
19,540
22,199
11,525
11,857
12,605
13,766
3,139
3,191
3,246
3,389
10,480
11,256
12,643
14,391
13,196
14,151
15,130
16,145
4,507
5,136
5,456
5,959
5,329
5,324
5,684
5,871
3,360
3,691
3,990
4,315
1940—Jan..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
7,048
6,911
6,990
7,168
7,406
7,592
7,606
7,706
7,755
7,875
7,981
8,338
4,487
4,478
4,548
4,678
4,841
5,003
5,067
5,143
5,173
5,247
5,344
5,514
1,516
1,546
1,598
1,685
1,785
1,878
1,933
1,960
1,953
1,986
2,026
2,071
1,576
1,531
1,531
1,559
1,596
1,634
1,625
1,646
1,663
1,693
1,733
1,827
297
295
292
297
302
310
318
333
347
352
364
371
,098
,106
,127
,137
,158
,181
,191
,204
,210
,216
,221
,245
2,561
2,433
2,442
2,490
2,565
2,589
2,539
2,563
2,582
2,628
2,637
2,824
780
771
764
761
762
764
766
770
778
787
793
800
1,252
1,121
1,126
1,167
1,224
1,240
1,192
1,207
1,222
1,269
1,283
1,471
529
541
552
562
579
585
581
586
582
572
561
553
1941_j an ..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
8,166
8,079
8,181
8,535
8,914
9,124
9,203
9,346
9,313
9,195
9,040
9,172
5,495
5,527
5,613
5,865
6,122
6,295
6,401
6,487
6,400
6,267
6,143
6,085
2,112
2,159
2,235
2,394
2,561
2,693
2,775
2,813
2,741
2,653
2,560
2,458
1,758
1,732
1,729
1,795
1,863
1,887
1,897
1,929
1,921
1,891
1,880
1,929
369
369
362
366
369
373
375
382
390
391
382
376
,256
,267
,287
,310
,329
,342
,354
,363
,348
,332
,321
1,322
2,671
2,552
2,568
2,670
2,792
2,829
2,802
2,859
2,913
2,928
2,897
3,087
801
799
795
806
826
832
829
828
830
836
842
845
1,310
1,177
1,184
1,265
1,348
1,371
1,348
1,406
1,457
1,476
1,449
1,645
560
576
589
599
618
626
625
625
626
616
606
597
For note see p. 37.
33
1. TOTAL CONSUMER CREDIT, 1919-63 - Continued
[In millions of dollars]
Noninstalment
Instalment
End of month
Total
Total
Automobile
paper
Repair
Other
consumer and modemization
goods
paper
loans'
Personal
loans
Total
Singlepayment
loans
Charge
accounts
Service
credit
1942-Jan..................
Feb..••..............
Mar.•...............
Apr .•...............
May ..•.............
June ............... .
July .................
Aug.................
Sept.................
Oct..................
Nov .................
Dec....•............
8,751
8,328
8,119
7,928
7,671
7,308
6,921
6,622
6,415
6,227
5,996
5,983
5,796
5,527
5,336
5,111
4,841
4,550
4,265
3,991
3,749
3,511
3,309
3,166
2,296
2,128
1,981
1,824
1,675
1,529
1,391
1,254
1,119
983
865
742
1,847
1,782
1,756
1,719
1,646
1,542
1,441
1,358
1,294
1,241
1,194
1,195
361
348
334
324
311
297
281
268
263
257
256
255
1,292
1,269
1,265
1,244
1,209
1,182
1,152
1,111
1,073
1,030
994
974
2,955
2,801
2,783
2,817
2,830
2,758
2,656
2,631
2,666
2,716
2,687
2,817
833
823
816
803
788
771
759
750
742
734
728
713
1,516
1,360
1,343
1,383
1,388
1,328
1,244
1,227
1,267
1,328
1,300
1,444
606
618
624
631
654
659
653
654
657
654
659
660
1943-Jan ..................
Feb...•.•............
Mar.................
Apr.................
May •..•............
June ................
July .................
Aug .••..............
Sept.••..............
Oct..................
Nov•••..............
Dec..•.•............
5,558
5,256
5,107
5,055
4,977
4,916
4,753
4,662
4,689
4,727
4,738
4,901
2,920
2,713
2,566
2,454
2,341
2,275
2,184
2,125
2,107
2,085
2,081
2,136
646
568
499
455
423
396
376
369
368
363
359
355
1,099
1,028
971
943
898
863
817
785
775
773
780
819
248
230
211
195
183
173
163
153
148
141
135
130
927
887
885
861
837
843
828
818
816
808
807
832
2,638
2,543
2,541
2,601
2,636
2,641
2,569
2,537
2,582
2,642
2,657
2,765
700
682
673
671
665
652
631
621
637
650
647
613
1,275
1,179
1,173
1,223
1,240
1,252
1,210
1,191
1,223
1,277
1,295
1,440
663
682
695
707
731
737
728
725
722
715
715
712
1944--Jan.•••..............
Feb.•..•.............
Mar•................
Apr ....•............
May ..•.............
June ..••............
July .................
Aug.................
Sept .............. '"
Oct.••...............
Nov••...............
Dec.................
4,614
4,440
4,496
4,545
4,664
4,722
4,672
4,672
4,713
4,771
4,843
5,111
2,044
1,983
1,999
1,982
1,992
2,015
2,019
2,023
2,030
2,048
2,079
2,176
346
343
345
352
366
385
403
411
409
407
402
397
765
721
706
695
692
685
668
666
674
699
728
791
124
120
116
112
109
110
110
112
113
113
116
119
809
799
832
823
825
835
838
834
834
829
833
869
2,570
2,457
2,497
2,563
2,672
2,707
2,653
2,649
2,683
2,723
2,764
2,935
589
572
572
588
608
637
636
632
623
627
626
624
1,268
1,148
1,173
1,210
1,265
1,262
1,219
1,221
1,267
1,308
1,344
1,517
713
737
752
765
799
808
798
796
793
788
794
794
1945-Jan..................
Feb....•.............
Mar.................
Apr.•..•............
May ...•............
June ............... .
July .................
Aug ..•..............
Sept•................
Oct•.................
Nov.................
Dec.................
4,867
4,682
4,781
4,768
4,858
4,940
4,896
4,879
4,902
5,075
5,261
5,665
2,116
2,059
2,090
2,078
2,087
2,115
2,116
2,111
2,126
2,199
2,293
2,462
385
375
380
379
378
385
392
394
403
414
432
455
754
715
713
698
688
685
669
662
664
699
735
816
120
122
126
127
134
142
147
153
156
166
175
182
857
847
871
874
887
903
908
902
903
920
951
1,009
2,751
2,623
2,691
2,690
2,771
2,825
2,780
2,768
2,776
2,876
2,968
3,203
620
617
617
637
665
697
702
697
687
692
713
746
1,343
1,197
1,255
1,227
1,252
1,268
1,230
1,230
1,253
1,351
1,415
1,612
788
809
819
826
854
860
848
841
836
833
840
845
1946--Jan ..................
Feb..................
Mar.................
Apr••...............
May ................
June ............... .
July .................
Aug .................
Sept.................
Oct ..................
Nov.................
Dec.................
5,569
5,575
5,803
6,118
6,397
6,570
6,659
6,936
7,169
7,467
7,802
8,384
2,483
2,529
2,631
2,787
2,928
3,055
3,177
3,339
3,476
3,655
3,853
4,172
475
495
525
578
627
665
708
759
806
859
914
981
800
796
813
853
892
918
942
981
1,015
1,078
1,148
1,290
190
199
213
230
247
266
286
311
333
359
381
405
1,018
1,039
1,080
1,126
1,162
1,206
1,241
1,288
1,322
1,359
1,410
1,496
3,086
3,046
3,172
3,331
3,469
3,515
3,482
3,597
3,693
3,812
3,949
4,212
778
808
841
872
897
915
936
965
997
1,033
1,076
1,122
1,463
1,361
1,419
1,525
1,592
1,605
1,561
1,643
1,704
1,788
1,869
2,076
845
877
912
934
980
995
985
989
992
991
1,004
1,014
1947-Jan..................
Feb..................
Mar .................
Apr.................
May •.•.............
June .•..............
July .................
Aug..•..............
Sept.................
Oct..................
Nov .•...............
Dec•••••.•..•...•.••
8,299
8,302
8,585
8,940
9,334
9,573
9,670
9,842
10,117
10,463
10,844
11,598
4,291
4,408
4,613
4,854
5,083
5,297
5,456
5,617
5,766
5,978
6,265
6,695
1,049
1,126
1,225
1,322
1,418
1,504
1,572
1,636
1,690
1,751
1,834
1,924
1,287
1,298
1,344
1,417
1,487
1,551
1,581
1,617
1,675
1,770
1,905
2,143
422
426
443
474
502
536
568
604
643
676
702
718
1,533
1,558
1,601
1,641
1,676
1,706
1,735
1,760
1,758
1,781
1,824
1,910
4,008
3,894
3,972
4,086
4,251
4,276
4,214
4,225
4,351
4,485
4,579
4,903
1,159
1,179
1,190
1,203
1,224
1,247
1,262
1,281
1,299
1,324
1,342
1,356
1,829
1,661
1,697
1,777
1,875
1,857
1,787
1,778
1,880
1,995
2,067
2,381
1,020
1,054
1,085
1,106
1,152
1,172
1,165
1,166
1,172
1,166
1,170
1,166
For note see p. 37.
34
1. TOTAL CONSUMER CREDIT, 1919-63 -
Continued
[In millions of dollars]
NoninstaIment
Instalment
End of month
Total
Total
Automobile
paper
Repair
Other
consumer and modgoods
ernization
paper
loans 1
Personal
loans
Total
Singlepayment
loans
Charge
accounts
Service
credit
11,467
11,372
11,734
12,166
12,529
12,802
12,956
13,168
13,498
13,653
13,816
14,447
6,813
6,898
7,178
7,477
7,703
7,902
8,108
8,326
8,549
8,597
8,705
8,996
2,007
2,082
2,246
2,396
2,489
2,577
2,701
2,820
2,911
2,934
2,974
3,018
2,159
2,141
2,204
2,293
2,375
2,432
2,474
2,539
2,640
2,665
2,714
2,901
713
720
734
763
788
802
811
821
835
844
855
853
1,934
1,955
1,994
2,025
2,051
2,091
2,122
2,146
2,163
2,154
2,162
2,224
4,654
4,474
4,556
4,689
4,826
4,900
4,848
4,842
4,949
5,056
5,111
5,451
1,367
1,383
1,400
1,404
1,429
1,437
1,423
1,422
1,430
1,425
1,440
1,445
2,118
1,894
1,937
2,036
2,122
2,176
2,132
2,119
2,215
2,329
2,378
2,722
1,169
1.197
1.219
1.249
1,275
1,287
1,293
1,301
1,304
1,302
1,293
1,284
July .................
Aug .................
Sept. ................
Oct..................
Nov .................
Dec.................
14,002
13,702
13,796
14,190
14,583
14,880
14,989
15,292
15,695
16,086
16,489
17,364
8,892
8,855
8,974
9,205
9,509
9,786
9,996
10,290
10,561
10,847
11,135
11,590
3,010
3,038
3,179
3,358
3,560
3,719
3,881
4,077
4,223
4,365
4,488
4,555
2,834
2,801
2,773
2,808
2,883
2,942
2,974
3,036
3,139
3,264
3,392
3,706
830
810
802
802
813
834
832
854
863
879
895
898
2,218
2,206
2,220
2,237
2,253
2,291
2,309
2,323
2,336
2,339
2,360
2,431
5,110
4,847
4,822
4,985
5,074
5,094
4,993
5,002
5,134
5,239
5,354
5,774
1,442
1,439
1,432
1,419
1,436
1,441
1,438
1,447
1,462
1,479
1,519
1,532
2,380
2,103
2,068
2,212
2,266
2,272
2,169
2,170
2,278
2,369
2,451
2,854
1,288
1,305
1,322
1,354
1,372
1,381
1,386
1.385
1,394
1,391
1,384
1,388
1950-Jan ..................
Feb..................
Mar .................
Apr .................
May ................
June ................
July .................
Aug .................
Sept .................
Oct..................
Nov .................
Dec.................
17,017
16,846
17,109
17,569
18,198
18,785
19,487
20,083
20,607
20,783
20,799
21,471
11,599
11,669,
11,888
12,136
12,534
13,030
13,578
14,045
14,452
14,570
14,492
14,703
4,613
4,717
4,868
5,024
5,220
5,504
5,825
6,032
6,191
6,212
6,133
6,074
3,671
3,643
3,690
3,760
3,887
4,004
4,159
4,349
4,546
4,611
4,588
4,799
889
887
872
872
897
922
945
971
996
1,014
1,021
1,016
2,426
2,422
2,458
2.480
2,530
2,600
2,649
2,693
2,719
2,733
2,750
2,814
5,418
5,177
5,221
5,433
5,664
5,755
5,909
6,038
6,155
6,213
6,307
6.768
1,526
1,527
1,546
1,576
1,646
1,643
1,669
1,683
1,698
1,770
1,871
1,821
2,509
2,245
2,255
2,388
2,518
2,581
2,677
2,787
2,879
2,882
2,876
3.367
1,383
1.405
1,420
1.469
1,500
1,531
1,563
1,568
1,578
1,561
1,560
1,580
1951-Jan..................
Feb..................
Mar.................
Apr.................
May ................
June ................
July .................
Aug .................
Sept.................
Ocl.. ................
Nov .................
Dec ............... ,.
21,167
20,827
20,861
20,823
21,029
21,087
20,893
21,164
21,417
21,644
21,932
22,712
14,564
14,409
14,382
14,321
14,376
14,437
14,369
14,622
14,766
14,826
14,946
15,294
5,984
5,910
5,875
5,873
5,932
5,996
5,992
6,108
6,157
6,095
6,048
5,972
4,727
4,639
4,591
4,502
4,445
4,393
4,289
4,354
4,389
4,478
4,572
4,880
1,001
988
987
989
1,002
1,003
1,012
1.029
1,045
1,064
1,082
1,085
2,852
2,872
2,929
2,957
2,997
3,045
3,076
3,131
3,175
3,189
3,244
3,357
6,603
6,418
6,479
6,502
6,653
6,650
6,524
6,542
6,651
6,818
6,986
7,418
1,826
1,862
1.906
1,923
1,973
1,938
1,924
1,916
1,912
1,931
1,977
1,934
3,189
2,926
2,909
2,882
2,956
2,955
2,830
2,856
2,946
3,114
3,243
3,700
1,588
1,630
1,664
1,697
1,724
1,757
1,770
1,770
1,793
1,773
1.766
1,784
1952-Jan ..................
Feb..................
Mar.................
Apr.................
May ................
June ................
July .................
Aug .................
Sept. ................
Oct..................
Nov.................
Dec .................
22,161
21,866
21,819
22,205
23,020
23,802
24,146
24,452
24,891
25,581
26,085
27,520
15,121
15,030
15,032
15,234
15,834
16,588
17,044
17,329
17,669
18,216
18,579
19,403
5,881
5,848
5,824
5,916
6,249
6,662
6,878
6,946
7,055
7,293
7,504
7,733
4,776
4,683
4,647
4,667
4,812
5,001
5,133
5,252
5,400
5,626
5,712
6,174
1,074
1,073
1,071
1,091
1,132
1,174
1.216
1,254
1,297
1,345
1,374
1,385
3,390
3,426
3,490
3,560
3,641
3,751
3,817
3,877
3,917
3,952
3,989
4,111
7,040
6,836
6,787
6,971
7,186
7,214
7,102
7,123
7,222
7,365
7,506
8,117
1,941
1,987
2,009
2,021
2,073
2,073
2,039
2,040
2,047
2,045
2,126
2,120
3,324
3,033
2,944
3,101
3.253
3,267
3,185
3,200
3,286
3,452
3.515
4,130
1,775
1,816
1,834
1,849
1,860
1,874
1,878
1,883
1,889
1.868
1,865
1,867
1953-Jan ..................
Feb..................
Mar.................
Apr.................
May ................
27,330
27,071
27,538
28,107
28,766
29,160
29,394
29,694
29,933
30,237
30,417
31,393
19,586
19,720
20,150
20,551
21,016
21,467
21,887
22,146
22,317
22,503
22,654
23,005
7,899
8,093
8,397
8,693
8,996
9,241
9,514
9,677
9,772
9,875
9,898
9,835
6,145
6,070
6,100
6,124
6,200
6,287
6,337
6,369
6,379
6,422
6,485
6,779
1,380
1,381
1,392
1,412
1,441
1,472
1,500
1,524
1,557
1,585
1,609
1,610
4,162
4,176
4,261
4,322
4,379
4,467
4,536
4,576
4,609
4,621
4,662
4,781
7,744
7,351
7,388
7,556
7,750
7,693
7,507
7,548
7,616
7,734
7,763
8,388
2,171
2,144
2,241
2,275
2,326
2,224
2,110
2,168
2,172
2,178
2,155
2,187
3,716
3,336
3,274
3,383
3,500
3,530
3,453
3,418
3,474
3,613
3,669
4,274
1,857
1,871
1,873
1,898
1,924
1,939
1,944
1,962
1,970
1.943
1,939
1,927
1948-Jan ..................
Feb..................
Mar .................
Apr.................
May ................
June ••.•....••.•.•..
July .................
Aug .................
Sept .................
Ocl.. ................
Nov .................
Dec.................
1949-Jan ................. ,
Feb..................
Mar .................
Apr .................
May ................
June •.•••............
June .•••...........•
July .................
Aug .................
Sept. ................
OCI.. ................
Nov.................
Dec.................
For note see p. 37.
35
TOTAL CONSUMER CREDIT, 1919-63 — Continued
[In millions of dollars]
Instalment
End of month
Total
Total
Automobile
paper
Noninstalment
Other
Repair
consumer and modgoods
ernization
paper
loans1
Personal
loans
Total
Singlepayment
loans
Charge
accounts
Service
credit
1954—Jan..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
30,550
29,888
29,554
29,838
30,090
30,352
30,431
30,461
30,595
30,813
31,103
32,464
22,638
22,365
22,160
22,207
22,268
22,501
22,658
22,740
22,803
22,881
22,983
23,568
9,650
9,497
9,403
9,416
9,459
9,604
9,722
9,769
9,781
9,768
9,720
9,809
6,622
6,490
6,331
6,296
6,256
6,261
6,234
6,214
6,218
6,280
6,377
6,751
1,595
1,581
[,571
,575
1,594
,596
,604
1,615
,622
,628
,626
,616
4,771
4,797
4,855
4,920
4,959
5,040
5,098
5,142
5,182
5,205
5,260
5,392
7,912
7,523
7,394
7,631
7,822
7,851
7,773
7,721
7,792
7,932
8,120
8,896
2,138
2,108
2,126
2,158
2,285
2,306
2,280
2,290
2,316
2,359
2,391
2,408
3,787
3,396
3,257
3,449
3,527
3,561
3,514
3,468
3,526
3,640
3,785
4,485
1,987
2,019
2,011
2,024
2,010
1,984
1,979
1,963
1,950
1,933
1,944
2,003
1955—Jan..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
31,938
31,755
32,094
32,911
33,695
34,593
34,971
35,683
36,294
36,684
37,248
38,830
23,512
23,604
24,046
24,591
25,204
25,969
26,501
27,138
27,628
27,881
28,170
28,906
9,861
10,028
10,410
10,796
11,254
11,794
12,234
12,714
13,069
13,239
13,318
13,460
6,668
6,563
6,554
6,596
6,665
6,770
6,811
6,891
6,967
7,034
7,182
7,641
1,574
,552
,533
,538
,552
,572
1,585
1,613
,640
,666
,681
1,693
5,409
5,461
5,549
5,661
5,733
5,833
5,871
5,920
5,952
5,942
5,989
6,112
8,426
8,151
8,048
8,320
8,491
8,624
8,470
8,545
8,666
8,803
9,078
9,924
2,365
2,431
2,494
2,516
2,621
2,726
2,663
2,729
2,783
2,810
2,940
3,002
3,986
3,565
3,435
3,664
3,759
3,796
3,719
3,744
3,831
3,961
4,079
4,795
2,075
2,155
2,119
2,140
2,111
2,102
2,088
2,072
2,052
2,032
2,059
2,127
1956—Jan..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
38,170
37,822
38,095
38,554
39,203
39,679
39,706
40,117
40,369
40,488
41,005
42,334
28,787
28,825
29,019
29,332
29,676
30,062
30,304
30,671
30,760
30,897
31,144
31,720
13,475
13,566
13,732
13,878
14,043
14,237
14,361
14,509
14,515
14,465
14,433
14,420
7,525
7,439
7,386
7,445
7,529
7,626
7,666
7,775
7,815
7,956
8,157
8,606
,665
,660
,667
,685
,724
,756
,775
,807
,840
1,874
1,898
,905
6,122
6,160
6,234
6,324
6,380
6,443
6,502
6,580
6,590
6,602
6,656
6,789
9,383
8,997
9,076
9,222
9,527
9,617
9,402
9,446
9,609
9,591
9,861
10,614
2,923
2,933
3,049
3,087
3,251
3,240
3,158
3,183
3,239
3,169
3,258
3,253
4,231
3,787
3,731
3,796
3,966
4,077
3,958
3,993
4,091
4,180
4,327
4,995
2,229
2,277
2,296
2,339
2,310
2,300
2,286
2,270
2,279
2,242
2,276
2,366
1957_jan..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
41,520
41,075
41,011
41,530
42,187
42,661
42,862
43,252
43,365
43,405
43,636
44,970
31,468
31,372
31,396
31,641
32,013
32,440
32,792
33,102
33,202
33,285
33,356
33,867
14,364
14,377
14,464
14,618
14,800
15,034
15,220
15,373
15,426
15,440
15,393
15,340
8,421
8,271
8,156
8,128
8,206
8,284
8,325
8,352
8,356
8,371
8,434
8,844
1,889
1,886
,892
,906
,940
,968
,994
2,037
2,061
2,091
2,107
2,101
6,794
6,838
6,884
6,989
7,067
7,154
7,253
7,340
7,359
7,383
7,422
7,582
10,052
9,703
9,615
9,889
10,174
10,221
10,070
10,150
10,163
10,120
10,280
11,103
3,205
3,242
3,291
3,304
3,437
3,416
3,328
3,348
3,365
3,292
3,315
3,364
4,444
3,980
3,827
4,040
4,211
4,272
4,229
4,292
4,296
4,363
4,458
5,146
2,403
2,481
2,497
2,545
2,526
2,533
2,513
2,510
2,502
2,465
2,507
2,593
1958—Jan..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
44,078
43,150
42,627
42,768
43,066
43,204
43,111
43,286
43,254
43,285
43,543
45,129
33,490
33,053
32,724
32,672
32,692
32,794
32,863
32,954
32,859
32,836
32,913
33,642
15,176
14,981
14,753
14,659
14,589
14,573
14,557
14,513
14,334
14,171
14,081
14,152
8,635
8,403
8,301
8,236
8,260
8,280
8,284
8,327
8,355
8,444
8,557
9,028
2,097
2,082
2,076
2,087
2,126
2,152
2,177
2,221
2,260
2,299
2,332
2,346
7,582
7,587
7,594
7,690
7,717
7,789
7,845
7,893
7,910
7,922
7,943
8,116
10,588
10,097
9,903
10,096
10,374
10,410
10,248
10,332
10,395
10,449
10,630
11,487
3,362
3,372
3,369
3,364
3,452
3,499
3,442
3,498
3,519
3,497
3,564
3,627
4,597
4,024
3,827
3,999
4,204
4,202
4,114
4,136
4,190
4,299
4,370
5,060
2,629
2,701
2,707
2,733
2,718
2,709
2,692
2,698
2,686
2,653
2,696
2,800
1959_j a n ..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
44,676
44,361
44,526
45,261
46,147
47,026
47,541
48,344
48,907
49,411
49,954
51,542
33,590
33,597
33,812
34,336
34,928
35,704
36,338
37,100
37,623
38,101
38,451
39,245
14,181
14,242
14,392
14,699
15,010
15,437
15,785
16,138
16,321
16,500
16,506
16,420
8,943
8,854
8,830
8,900
9,041
9,204
9,319
9,496
9,638
9,808
10,013
10,630
2,333
2,335
2,357
2,391
2,451
2,506
2,565
2,629
2,688
2,737
2,778
2,809
8,133
8,166
8,233
8,346
8,426
8,557
8,669
8,837
8,976
9,056
9,154
9,386
11,086
10,764
10,714
10,925
11,219
11,322
11,203
11,244
11,284
11,310
11,503
12,297
3,581
3,675
3,729
3,789
3,897
3,962
3,927
3,999
4,046
4,012
4,075
4,129
4,648
4,149
4,040
4,145
4,341
4,386
4,320
4,281
4,288
4,378
4,459
5,104
2,857
2,940
2,945
2,991
2,981
2,974
2,956
2,964
2,950
2,920
2,969
3,064
For note see p. 37.
36
1.
TOTAL CONSUMER CREDIT, 1919-63 — Continued
[In millions of dollars]
Instalment
Total
Automobile
paper
Other
consumer
goods
paper
50,942
50,712
50,857
51,903
52,570
53,272
53,483
53,852
54,113
54,244
54,567
56,028
39,135
39,180
39,412
40,014
40,484
41,105
41,449
41,829
42,022
42,106
42,242
42,832
16,390
16,491
16,685
17,025
17,277
17,594
17,724
17,847
17,843
17,800
17,790
17,688
10,547
10,423
10,365
10,437
10,501
10,634
10,668
10,731
10,820
10,909
11,003
11,525
1961—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
55,013
54,144
53,92954,026
54,434
54,815
54,750
55,078
55,149
55,340
55,915
57,678
42,346
41,875
41,671
41,627
41,787
42,089
42,141
42,358
42,334
42,494
42,737
43,527
17,456
17,241
17,139
17,087
17,143
17,272
17,285
17,292
17,133
17,153
17,211
17,223
1962—Jan
Feb
Mar
Apr
May
June '.
July
Aug
Sept
Oct
Nov
Dec
56,689
56,084
56,210
57,215
58,173
58,959
59,205
59,837
60,030
60,441
61,203
63,164
43,188
42,979
43,075
43,711
44,338
45,056
45,490
46,020
46,145
46,526
47,052
48,034
1963—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
62,462
61,989
62,149
63,167
64,135
64,987
65,491
66,308
66,538
67,088
67,746
69,890
47,920
47,852
48,075
48,806
49,484
50,307
50,894
51,526
51,718
52,257
52,695
53,745
End of month
I960—Jan
Feb
Mar
May'.'.'.'.'.'.'.'.'.'.'.'.'.'.'.'.
June
July
Aug
Sept
Oct
Nov
Dec
1
Total
Noninstalment
Repair
and modernization
loans1
Charge
accounts
Total
2,800
2,812
2,831
2,871
2,935
2,984
3,020
3,074
3,109
3,129
3,144
3,139
9,398
9,454
9,531
9,681
9,771
9,893
10,037
10,177
10,250
10,268
10,305
10,480
11,807
11,532
11,445
11,889
12,086
12,167
12,034
12,023
12,091
12,138
12,325
13,196
4,059
4,146
4,225
4,280
4,386
4,384
4,373
4,401
4,460
4,432
4,478
4,507
4,625
4,180
4,016
4,328
4,435
4,529
4,413
4,390
4,411
4,504
4,605
5,329
3,123
3,206
3,204
3,281
3,265
3,254
3,248
3,232
3,220
3,202
3,242
3,360
11,353
11,123
10,990
10,900
10,912
10,944
10,931
10,989
11,056
11,142
11,264
11,857
3,100
3,076
3,067
3,075
3,102
3,125
3,134
3,170
3,188
3,193
3,204
3,191
10,437
10,435
10,475
10,565
10,630
10,748
10,791
10,907
10,957
11,006
11,058
11,256
12,667
12,269
12,258
12,399
12,647
12,726
12,609
12,720
12,815
12,846
13,178
14,151
4,502
4,571
4,608
4,585
4,712
4,738
4,732
4,823
4,916
4,894
5,025
5,136
4,754
4,187
4,141
4,229
4,375
4,440
4,327
4,360
4,366
4,448
4,601
5,324
3,411
3,511
3,509
3,585
3,560
3,548
3,550
3,537
3,533
3,504
3,552
3,691
17,128
17,157
17,339
17,710
18,075
18,479
18,770
19,018
18,972
19,193
19,416
19,540
11,681
11,456
11,308
11,373
11,450
11,567
11,574
11,637
11,691
11,777
11,960
12,605
3,148
3,112
3,099
3,106
3,143
3,171
3,193
3,226
3,239
3,250
3,259
3,246
11,231
11,254
11,329
11,522
11,670
11,839
11,953
12,139
12,243
12,306
12,417
12,643
13,501
13,105
13,135
13,504
13,835
13,903
13,715
13,817
13,885
13,915
14,151
15,130
4,924
4,976
5,125
5,215
5,363
5,386
5,351
5,401
5,403
5,355
5,420
5,456
4,846
4,292
4,168
4,375
4,596
4,644
4,511
4,580
4,642
4,768
4,884
5,684
3,731
3,837
3,842
3,914
3,876
3,873
3,853
3,836
3,840
3,792
3,847
3,990
19,582
19,678
19,930
20,376
20,794
21,236
21,593
21,819
21,725
21,971
22,107
22,199
12,453
12,250
12,149
12,197
12,272
12,422
12,459
12,607
12,702
12,845
13,046
13,766
3,211
3,185
3,177
3,200
3,245
3,281
3,316
3,357
3,377
3,400
3,407
3,389
12,674
12,739
12,819
13,033
13,173
13,368
13,526
13,743
13,914
14,041
14,135
14,391
14,542
14,137
14,074
14,361
14,651
14,680
14,597
14,782
14,820
14,831
15,051
16,145
5,430
5,479
5,539
5,562
5,674
5,709
5,683
5,789
5,844
5,830
5,894
5,959
5,071
4,511
4,374
4,581
4,793
4,783
4,760
4,839
4,833
4,898
4,999
5,871
4,041
4,147
4,161
4,218
4,184
4,188
4,154
4,154
4,143
4,103
4,158
4,315
Holdings of financial institutions; holdings of retail outlets are included in "other consumer goods paper."
Singlepayment
loans
Personal
loans
37
Service
credit
2. INSTALMENT CREDIT, 1919-63
[In millions of dollars]
Financial institutions
End of period
Total
Total
Commercial
banks
Sales
finance
Credit
unions
Retail outlets
Consumer
finance
cos.1
Other*
Total
Department
stores*
Furniture
stores
Appliance
stores
Automobile
dealers3
800
969
919
1,047
1,368
1,646
164
214
219
280
397
515
19
25
31
39
52
69
73
105
93
136
222
293
4
6
7
8
10
12
68
78
88
97
113
141
636
755
700
767
971
1,131
31
44
35
36
41
46
253
300
300
375
412
458
60
64
68
96
97
109
258
309
255
199
348
435
2,115
2,363
2,319
2,935
3,524
815
1,019
1,054
1,353
1,745
94
116
136
167
201
529
669
628
816
1,074
14
16
18
21
22
178
218
272
349
448
1,300
1,344
1,265
1,582
1,779
65
89
112
143
160
506
536
549
552
583
142
153
181
210
253
484
440
276
508
586
1930
1931
1932
1933
1934
3,022
2,463
1,672
1,723
1,999
1,563
1,319
958
1,001
1,203
204
173
137
127
169
880
684
418
507
630
22
21
19
20
24
457
441
384
347
380
1,459
1,144
714
722
796
155
138
103
118
146
539
454
313
299
314
216
172
107
108
121
352
191
44
65
57
1935
1936
1937
1938
1939
2,817
3,747
4,118
3,686
4,503
1,860
2,580
2,804
2,414
3,065
415
655
706
742
1,079
974
1,353
1,415
969
1,197
36
57
81
101
132
435
515
602
602
657
957
1,167
1,314
1,272
1,438
187
257
289
282
354
336
406
445
425
439
142
164
191
172
183
110
96
93
90
123
1940
1941
1942
1943
1944
5,514
6,085
3,166
2,136
2,176
3,918
4,480
2,176
1,413
1,486
1,452
1,726
862
532
574
1,575
1,797
588
252
262
171
198
128
103
99
720
759
598
526
551
1,596
1,605
990
723
690
394
320
181
127
127
474
496
331
235
230
196
206
111
37
19
167
188
53
31
33
1945
1946
1947
1948
1949
2,462
4,172
6,695
8,996
11,590
1,776
3,235
5,255
7,120
9,257
745
1,567
2,625
3,529
4,439
300
677
1,355
2,011
2,944
102
151
235
334
438
629
840
1,040
1,246
1,436
686
937
1,440
1,876
2,333
131
209
379
470
596
240
319
474
604
740
17
38
79
127
178
28
47
101
159
236
1950
1951
1952
1953
1954
14,703
15,294
19,403
23,005
23,568
11,805
12,124
15,581
18,963
19,450
5,798
5,771
7,524
8,998
8,796
3,711
3,654
4,711
5,927
6,144
590
635
837
1,124
1,342
1,286
1,555
1,866
2,137
2,257
420
509
643
777
911
2,898
3,170
3,822
4,042
4,118
746
924
1,107
1,064
1,242
827
810
943
1,004
984
267
243
301
377
377
287
290
389
527
463
1955
1956
1957
1958
1959
28,906
31,720
33,867
33,642
39,245
24,398
26,977
29,200
28,659
33,570
10,601
11,777
12,843
12,780
15,227
8,447
9,117
9,609
8,844
10,319
1,678
2,014
2,429
2,668
3,280
2,623
2,940
3,124
3,085
3,337
1,049
1,129
1,195
1,282
1,407
4,508
4,743
4,668
4,983
5,676
1,511
1,408
1,393
1,882
2,292
1,044
1,187
1,210
1,128
1,225
365
377
361
292
310
487
502
478
506
481
1960
1961
1962
1963
42,832
43,527
48,034
53,745
37,218
37,935
41,782
46,992
16,672
17,008
19,005
21,6K)
11,472
11,273
12,194
13,523
3,923
4,330
4,902
5,622
3,670
3,799
4,131
4,590
1,481
1,525
1,550
1,647
5,615
5,595
6,252
6,753
2,414
2,421
3,013
3,427
1,107
1,058
1,073
1,086
333
293
294
287
359
342
345
328
1940—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
4,487
4,478
4,548
4,678
4,841
5,003
5,067
5,143
5,173
5,247
5,344
5,514
3,101
3,131
3,204
3,313
3,446
3,591
3,658
3,728
3,742
3,781
3,844
3,918
1,113
1,130
1,157
1,197
1,254
1,330
1,345
1,382
1,399
1,414
1,443
1,452
1,197
1,207
1,240
1,300
1,361
1,414
1,459
1,483
1,475
1,497
1,532
1,575
132
133
140
144
150
156
160
164
166
167
168
171
659
661
667
672
681
691
694
699
702
703
701
720
1,386
1,347
1,344
1,365
1,395
1,412
1,409
1,415
1,431
1,466
1,500
1,596
335
325
326
333
338
339
332
332
339
350
363
394
425
417
412
418
428
429
428
431
437
446
454
474
176
172
170
173
178
183
186
188
190
194
195
196
124
126
130
138
146
153
158
159
158
160
163
167
1941—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.,
5,495
5,527
5,613
5,865
6,122
6,295
6,401
6,487
6,400
6,267
6,143
6,085
3,962
4,029
4,114
4,312
4,517
4,679
4,792
4,854
4,787
4,685
4,583
4,480
1,482
1,518
1,541
1,615
1,692
1,756
1,803
1,829
1,832
1,795
1,761
1,726
1,592
1,620
1,671
1,773
1,884
1,966
2,019
2,047
1,984
1,928
1,867
1,797
171
174
179
188
195
201
206
208
207
204
201
198
717
717
723
736
746
756
764
770
764
758
754
759
1,533
1,498
1,499
1,553
1,605
1,616
1,609
1,633
1,613
1,582
1,560
1,605
370
359
358
372
379
371
349
340
323
307
304
320
459
454
452
465
481
486
486
505
499
495
490
496
189
186
187
198
209
216
220
227
225
219
211
206
169
172
178
190
203
213
219
221
214
206
197
188
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
•..
For notes see p. 42.
38
2.
INSTALMENT CREDIT, 1919-63 — Continued
[In millions of dollars]
Financial institutions
End of month
Total
Total
Commercial
banks
Sales
finance
cos.
Credit
unions
Retail outlets
Consumer
finance
cos.1
Other*
Total
Department
stores2
Furniture
stores
Appliance
stores
Automobile
dealers^
1942—Jan..
Feb.
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct.
Nov.
Dec.
5,796
5,527
5,336
5,111
4,841
4,550
4,265
3,991
3,749
3,511
3,309
3,166
4,272
4,071
3,908
3,715
3,509
3,307
3,105
2,893
2,700
2,500
2,332
2,176
1,650
1,581
1,534
1,468
1,391
1,320
1,241
1,164
1,085
1,003
928
862
1,689
1,573
1,461
1,347
1,241
1,130
1,027
919
828
738
665
588
186
180
178
173
167
163
158
151
146
138
132
128
747
737
735
727
710
694
679
659
641
621
607
598
1,524
1,456
1,428
1,396
1,332
1,243
1,160
1,098
1,049
1,011
977
990
297
282
278
271
252
226
204
192
182
175
173
181
474
462
459
456
443
418
393
374
358
342
331
331
198
197
192
187
178
165
155
144
136
126
118
111
176
163
151
139
127
115
104
94
83
72
63
53
1943—Jan..
Feb.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
2,920
2,713
2,566
2,454
2,341
2,275
2,184
2,125
2,107
2,085
2,081
2,136
2,012
1,859
1,755
,657
,577
,535
1,483
,446
,431
,408
,395
,413
799
732
685
642
613
591
570
555
547
537
532
532
520
459
403
364
334
309
291
278
270
263
255
252
121
116
117
112
109
109
106
105
105
103
102
103
572
552
550
539
521
526
516
508
509
505
506
526
908
854
811
797
764
740
701
679
676
677
686
723
162
152
143
138
129
123
112
107
107
109
117
127
304
286
272
269
259
251
239
235
232
231
231
235
102
95
87
81
74
68
61
54
49
44
39
37
48
42
37
34
32
31
30
30
32
31
32
31
1944_j a n ..
Feb..
Mar.
Apr.
May,
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
2,044
1,983
1,999
1,982
1,992
2,015
2,019
2,023
2,030
2,048
2,079
2,176
,377
,352
,380
,371
,383
,413
,433
,439
,439
1,438
,444
,486
523
510
518
518
525
541
549
553
553
556
559
574
242
237
236
236
241
249
261
266
265
265
265
262
100
98
102
99
99
100
99
99
99
97
97
99
512
507
524
518
518
523
524
521
522
520
523
551
667
631
619
611
609
602
586
584
591
610
635
690
115
107
105
103
100
97
91
92
94
102
111
127
215
204
199
197
200
199
195
194
196
204
214
230
31
28
25
24
22
21
19
18
18
19
19
19
30
30
29
30
31
33
35
36
36
35
34
33
1945__j an ..
Feb.,
Mar.
Apr.
May,
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec.
2,116
2,059
2,090
2,078
2,087
2,115
2,116
2,111
2,126
2,199
2,293
2,462
,468
,446
,478
,481
,500
,532
,550
,553
,566
,614
,679
,776
578
571
589
594
607
625
635
636
647
674
703
745
253
247
247
246
247
253
257
262
266
277
289
300
97
95
97
96
96
98
98
97
96
96
98
102
540
533
545
545
550
556
560
558
557
567
584
629
648
613
612
597
587
583
566
558
560
585
614
686
119
112
112
108
104
101
96
93
94
103
114
131
211
204
202
200
200
200
196
195
196
206
217
240
18
16
16
15
14
15
14
14
14
14
16
17
31
29
29
28
27
27
27
27
27
27
27
28
1946—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
2,483
2,529
2,631
2,787
2,928
3,055
3,177
3,339
3,476
3,655
3,853
4,172
1,827
1,884
1,978
2,109
2,233
2,351
2,472
2,616
2,736
2,880
3,030
3,235
786
822
881
954
,029
,100
,170
,253
,318
,395
,472
,567
310
323
340
373
404
429
460
496
536
579
624
677
101
103
106
110
115
121
125
129
133
139
144
151
630
636
651
672
685
701
717
738
749
767
790
840
656
645
653
678
695
704
705
723
740
775
823
937
123
119
120
127
129
132
130
135
142
156
174
209
228
227
231
239
246
251
250
256
258
267
286
319
17
18
18
19
20
22
25
28
31
34
35
38
28
29
30
33
35
36
38
40
42
43
45
47
1947—Jan..
Feb..
Mar.
Apr.,
May.
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec.
4,291
4,408
4,613
4,854
5,083
5,297
5,456
5,617
5,766
5,978
6,265
6,695
3,379
3,504
3,685
3,882
4,077
4,260
4,413
4,554
4,663
4,817
5,007
5,255
,657
,725
,826
,928
2,037
2,140
2,216
2,288
2,351
2,428
2,514
2,625
714
762
823
890
952
1,013
1,065
1,116
1,162
1,221
1,288
1,355
154
158
165
172
181
191
200
206
211
216
223
235
854
859
871
892
907
916
932
944
939
952
982
1,040
912
904
928
972
1,006
1,037
1,043
1,063
1,103
1,161
1,258
1,440
207
208
221
237
249
255
254
259
270
288
325
379
306
302
306
317
327
337
338
344
355
375
410
474
37
40
40
44
45
52
56
59
63
67
73
79
51
55
61
66
71
77
81
84
88
92
96
101
Mar.
For notes see p. 42.
39
2.
INSTALMENT CREDIT, 1919-63 — Continued
[In millions of dollars]
Retail outlets
Financial institutions
End of month
Total
Total
Commercial
banks
Sales
finance
Credit
Consumer
finance
cos.1
Other1
Total
Department
stores2
Furniture
stores
Appliance
stores
Automobile
dealers3
Other
1948_ Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
6,813
6,898
7,178
7,477
7,703
7,902
8,108
8,326
8,549
8,597
8,705
8,996
5,422
5,529
5,769
6,027
6,212
6,375
6,562
6,739
6,901
6,929
6,995
7,120
2,716
2,761
2,873
3,006
3,090
3,185
3,279
3,370
3,446
3,466
3,492
3,529
1,420
1,467
1,562
1,661
1,733
1,771
1,833
1,895
1,954
1,959
1,979
2,011
237
242
253
266
275
287
299
310
320
322
325
334
,049
,059
,081
1,094
,114
,132
,151
,164
,181
,182
,199
,246
,391
,369
,409
,450
,491
,527
,546
,587
,648
,668
,710
,876
361
351
364
374
382
387
389
404
418
426
433
470
453
448
455
4*64
477
490
490
503
525
520
541
604
77
78
82
90
98
104
109
115
122
123
123
127
105
109
119
128
132
136
143
150
155
156
157
159
395
383
389
394
402
410
415
415
428
443
456
516
1949_jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.,
Sept.
Oct..
Nov.
Dec..
8,892
8,855
8,974
9,205
9,509
9,786
9,996
10,290
10,561
10,847
11,135
11,590
7,109
7,088
7,229
7,437
7,709
7,959
8,171
8,435
8,644
8,849
9,043
9,257
3,536
3,507
3,556
3,639
3,761
3,875
3,956
4,066
4,160
4,268
4,347
4,439
2,001
2,014
2,090
2,192
2,319
2,423
2,521
2,648
2,738
2,822
2,897
2,944
331
331
339
348
360
374
385
399
411
418
428
438
,241
,236
,244
,258
,269
,287
,309
,322
,335
,341
,371
,436
,783
,767
,745
,768
,800
,827
,825
,855
,917
,998
2,092
2,333
437
464
449
451
454
454
446
453
475
499
531
596
569
553
544
549
560
569
569
579
596
625
658
740
121
117
117
118
124
131
139
145
152
159
164
178
157
157
165
175
187
195
204
214
221
228
234
236
499
476
470
475
475
478
467
464
473
487
505
583
1950—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.,
Sept.
Oct..
Nov.
Dec..
11,599
11,669
11,888
12,136
12,534
13,030
13,578
14,045
14,452
14,570
14,492
14,703
9,341
9,426
9,636
9,851
10,197
10,646
11,116
11,494
11,817
11,897
11,802
11,805
4,503
4,537
4,652
4,751
4,940
5,171
5,393
5,607
5,819
5,869
5,808
5,798
2,960
3,008
3,073
3,160
3,265
3,427
3,618
3,733
3,825
3,819
3,757
3,711
441
447
463
475
498
525
551
573
585
586
585
590
948
944
951
960
972
991
,006
,019
,192
,215
.230
,286
489
490
497
505
522
532
548
562
396
408
422
420
2,258
2,243
2,252
2,285
2,337
2,384
2,462
2,551
2,635
2,673
2,690
2,898
572
592
591
599
615
621
642
665
687
696
697
746
713
699
700
709
720
728
741
755
777
780
779
827
175
176
181
187
195
205
219
243
260
262
263
267
237
240
244
249
255
264
277
283
286
290
288
287
561
536
536
541
552
566
583
605
625
645
663
771
1951—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug..
Sept.
Oct..
Nov.
Dec.
14,564
14,409
14,382
14,321
14,376
14,437
14,369
14,622
14,766
14,826
14,946
15,294
11,749
11,628
11,628
11,617
11,696
11,782
11,778
11,965
12,025
12,009
12,049
12,124
5,791
5,720
5,724
5,720
5,736
5,747
5,705
5,764
5,738
5,753
5,760
5,771
3,659
3,597
3,555
3,534
3,555
3,597
3,597
3,684
3,725
3,695
3,682
3,654
584
583
587
586
593
600
604
614
619
623
625
635
,296
,305
,330
,341
,361
,387
,412
,433
,463
,452
,480
,555
419
423
432
436
451
451
460
470
480
486
502
509
2,815
2,781
2,754
2,704
2,680
2,655
2,591
2,657
2,741
2,817
2,897
3,170
717
739
737
717
703
685
660
721
785
816
854
924
787
768
750
734
723
712
692
694
701
717
729
810
262
257
249
243
236
231
227
228
233
236
237
243
282
277
275
275
278
283
284
292
297
294
293
290
767
740
743
735
740
744
728
722
725
754
784
903
1952—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug..
Sept.
Oct..
Nov.
Dec.
15,121
15,030
15,032
15,234
15,834
16,588
17,044
17,329
17,669
18,216
18,579
19,403
12,064
12,048
12,083
12,271
12,776
13,438
13,853
14,089
14,353
14,765
15,097
15,581
5,769
5,769
5,807
5,898
6,143
6,458
6,648
6,793
6,945
7,158
7,310
7,524
3,591
3,552
3,516
3,551
3,731
3,985
4,143
4,180
4,253
4,409
4,548
4,711
634
640
651
667
696
729
752
774
791
808
818
837
,563
,571
,589
1,624
,652
,698
,731
,751
,761
,776
,788
,866
507
516
520
531
554
568
579
591
603
614
633
643
3,057
2,982
2.949
2,963
3,058
3,150
3,191
3,240
3,316
3,451
3,482
3,822
880
867
873
878
906
931
936
955
994
1,046
1,024
1,107
776
756
742
743
769
793
808
824
838
863
880
943
237
228
222
220
225
241
253
259
270
277
282
301
285
282
279
283
301
324
337
341
347
362
375
389
879
849
833
839
857
861
857
861
867
903
921
1,082
1953—Jan..
Feb..
Mar.
19,586
19,720
20,150
20,551
21,016
21,467
21,887
22,146
22,317
22,503
22,654
23,005
15,859
16,095
16,569
16,996
17,422
17,832
18,252
18,497
18,655
18,790
18,878
18,963
7,665
7,797
8,059
8,286
8,491
8,675
8,843
8,931
8,969
9,009
9,006
8,998
4,804
4,897
5,028
5,156
5,312
5,456
5,631
5,739
5,811
5,885
5,929
5^927
846
861
896
927
955
994
1,025
1,051
1,077
1,093
1,107
1,124
,895
,888
,916
,942
,957
,992
2,029
2,042
2,051
2,052
2,070
2,137
649
652
670
685
707
715
724
734
747
751
766
777
3,727
3,625
3,581
3,555
3,594
3,635
3,635
3,649
3,662
3,713
3,776
4,042
1,074
1,013
970
921
929
934
920
928
940
954
980
1,064
911
905
898
898
905
912
918
923
925
932
952
1,004
295
296
299
310
320
333
340
348
353
357
366
377
400
411
428
444
463
478
496
510
514
524
528
527
1,047
1,000
986
982
977
978
961
940
930
946
950
1,070
M^y!
June.
July.
Aug..
Sept.
Oct..
Nov.
Dec.
For notes see p. 42.
40
2.
INSTALMENT CREDIT, 1919-63 — Continued
[In millions of dollars]
Financial institutions
End of month
Total
Total
Commercial
banks
Sales
finance
Credit
Retail outlets
Consumer
finance
Otheri
Total
Department
stores2
Furniture
stores
Appliance
stores
Automobile
dealers3
Other
1954_j an ..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
22,638
22,365
22,160
22,207
22,268
22,501
22,658
22,740
22,803
22,881
22,983
23,568
18,758
18,518
18,420
18,483
18,566
18,784
18,951
19,045
19,106
19,140
19,173
19,450
8,914
8,755
8,714
8,722
8,729
8,783
8,789
8,784
8,767
8,759
8,728
8,796
5,839
5,750
5,664
5,666
5,697
5,799
5,918
5,977
6,010
6,030
6,043
6,144
,108
,122
,147
,173
,196
,233
,258
,284
,305
,312
,326
,342
2,125
2,113
2,111
2,126
2,126
2,144
2,158
2,157
2,169
2,171
2,184
2,257
772
778
784
796
818
825
828
843
855
868
892
911
3,880
3,847
3,740
3,724
3,702
3,717
3,707
3,695
3,697
3,741
3,810
4,118
1,019
1,089
1,056
1,059
1,055
1,066
1,063
1,066
1,075
1,098
1,134
1,242
968
943
921
913
911
910
906
910
910
919
936
984
368
363
357
354
351
353
357
356
359
363
365
377
514
501
489
485
482
486
488
485
480
473
465
463
1,011
951
917
913
90S
902
893
878
873
888
910
1,052
1955—Jan..
Feb..
Mar.
Apr.
May.
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
23,512
23,604
24,046
24,591
25,204
25,969
26,501
27,138
27,628
27,881
28,170
28,906
19,510
19,706
20,164
20,682
21,268
22,001
22,528
23,134
23,601
23,823
24,027
24,398
8,829
8,883
9,057
9,248
9,472
9,773
9,935
10,151
10,328
10,412
10,489
10,601
6,180
6,274
6,480
6,716
6,995
7,317
7,631
7,943
8,169
8,271
8,325
8,447
,331
,351
,388
,423
,462
,507
,535
,576
,617
1,638
,651
,678
2,254
2,265
2,291
2,332
2,352
2,398
2,423
2,449
2,464
2,482
2,523
2,623
916
933
948
963
987
,006
,004
,015
,023
,020
,039
,049
4,002
3,898
3,882
3,909
3,936
3,968
3,972
4,003
4,028
4,058
4,143
4,508
1,209
,179
,195
,211
,224
,235
,231
,244
,270
,283
,332
,511
954
935
924
917
925
932
938
956
961
973
995
1,044
373
366
356
353
351
352
353
355
352
349
352
365
456
454
461
468
478
491
499
508
510
504
494
487
1,010
964
946
960
958
958
951
940
935
949
970
1,101
1956—Jan..
Feb..
Mar.
Apr.
May.
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec.
28,787
28,825
29,019
29,332
29,676
30,062
30,304
30,671
30,760
30,897
31,144
31,720
24,394
24,517
24,779
25,099
25,400
25,877
26,117
26,396
26,476
26,565
26,782
26,977
10,615
10,659
10,782
10,985
11,139
11,414
11,508
11,591
11,604
11,674
11,715
11,777
8,440
8,465
8,531
8,581
8,647
8,772
8,856
8,960
8,997
8,983
9,089
9,117
,666
,692
,722
,756
,792
,832
,860
,908
1,933
,962
,986
2,014
2,632
2,657
2,687
2,715
2,740
2,774
2,811
2,843
2,839
2,847
2,863
2,940
,041
,044
,057
,062
,082
1,085
,082
,094
,103
1,099
,129
,129
4,394
4,308
4,239
4,233
4,276
4,184
4,187
4,274
4,285
4,331
4,363
4,743
,471
,435
,377
,380
,389
,248
,241
,287
,270
,270
,231
,408
1,028
1,025
1,021
1,024
1,033
1,047
1,055
1,075
1,085
1,106
1,136
1,187
356
349
343
339
342
346
352
359
364
365
371
377
486
487
490
493
497
502
506
510
510
507
504
502
1,053
1,012
1,008
997
1,015
1,041
1,033
1,043
1,056
1,083
1,121
1,269
1957—Jan..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
31,468
31,372
31,396
31,641
32,013
32,440
32,792
33,102
33,202
33,285
33,356
33,867
26,865
26,895
27,031
27,421
27,735
28,128
28,584
28,865
28,975
29,082
29,071
29,200
11,712
11,741
11,820
12,069
12,234
12,421
12,608
12,711
12,764
12,860
12,838
12,843
9,096
9,056
9,070
9,128
9,201
9,326
9,506
9,596
9,629
9,618
9,597
9,609
2,009
2,034
2,069
2,116
2,155
2,212
2,265
2,321
2,352
2,387
2,402
2,429
2,926
2,929
2,927
2,962
2,972
2,996
3,040
3,057
3,049
3,040
3,049
3,124
,122
,135
,145
,146
,173
,173
,165
,180
,181
,177
,185
,195
4,602
4,476
4,364
4,219
4,278
4,311
4,208
4,236
4,228
4,202
4,285
4,668
,387
,351
,304
,176
,229
,249
,144
,161
,167
,134
,199
,393
1,144
1,125
1,106
1,095
1,102
,107
,107
,123
,122
,131
,148
,210
363
360
354
350
350
353
354
352
354
355
354
361
495
491
488
488
489
493
495
496
494
489
484
478
1,213
1,149
1,112
1,110
1,108
1,109
1,108
1,104
1,091
1,093
1,100
1,226
1958—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
33,490
33,053
32,724
32,672
32,692
32,794
32,863
32,954
32,859
32,836
32,913
33,642
28,954
28,699
28,453
28,540
28,526
28,609
28,763
28,840
28,467
28,385
28,372
28,659
12,749
12,562
12,456
12,579
12,612
12,676
12,776
12,834
12,633
12,645
12,660
12,780
9,502
9,451
9,335
9,256
9,188
9,173
9,195
9,165
8,983
8,877
8,812
8,844
2,401
2,403
2,410
2,452
2,477
2,509
2,544
2,578
2,591
2,615
2,630
2,668
3,106
3,086
3,061
3,059
3,039
3,037
3,038
3,033
3,012
2,999
2,999
3,085
,196
,197
,191
,194
,210
,214
,210
,230
,248
,249
,271
,282
4,535
4,354
4,272
4,132
4,167
4,184
4,100
4,112
4,391
4,453
4,542
4,983
,381
,326
,343
,241
,278
,310
,241
,251
,543
,586
,644
,882
,163
,125
,082
,064
,058
,052
,045
,054
1,047
,056
,070
,128
349
340
331
320
314
307
301
297
295
291
290
292
479
479
477
479
482
487
493
497
496
495
498
506
1,163
1,084
1,039
1,028
1,035
1,028
1,020
1,013
1,010
1,025
1,040
1,175
I959_j an ..
Feb..
Mar.
Apr.
May,
June,
July.
Aug.
Sept.
Oct.,
Nov.
Dec.
33,590
33,597
33,812
34,336
34,928
35,704
36,338
37,100
37,623
38,101
38,451
39,245
28,751
28,817
29,092
29,610
30,148
30,862
31,491
32,179
32,643
33,022
33,248
33,570
12,931
12,981
13,150
13,462
13,758
14,098
14,390
14,688
14,886
15,063
15,131
15,227
8,835
8,825
8,883
9,025
9,191
9,455
9,703
9,927
10,097
10,227
10,281
10,319
2,651
2,678
2,723
2,781
2,833
2,917
2,972
3,069
3,130
3,183
3,230
3,280
3,074
3,064
3,057
3,056
3,054
3,073
3,100
3,140
3,157
3,175
3,215
3,337
1,260
1,269
,279
,286
,312
,319
,326
,355
,373
,374
,391
,407
4,839
4,779
4,720
4,725
4,782
4,843
4,846
4,920
4,979
5,079
5,203
5,676
,805
,807
,781
,781
,807
,839
,826
,863
,903
,962
2,040
2,292
,100
,088
,059
,061
,067
,079
1,087
,108
,118
1,135
1,158
1,225
290
286
286
286
288
290
291
298
299
298
303
310
500
494
490
492
494
501
505
508
506
503
494
481
1,144
1,104
1,104
1,105
1,126
1,134
1,137
1,143
1,153
1,181
1,208
1,368
For notes see p. 42.
41
2. INSTALMENT CREDIT, 1919-63 - Continued
[In millions of dollars]
Retail outlets
Financial institutions
End of month
Total
Total
Commercial
banks
Sales
finance
Credit
Consumer
finance
Other*
Total
Department
stores2
Furniture
stores
Appliance
stores
Automobile
dealers3
Other
I960—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
39,135
39,180
39,412
40,014
40,484
41,105
41,449
41,829
42,022
42,106
42,242
42,832
33,744
34,004
34,291
34,860
35,349
35,939
36,360
36,763
36,944
36,987
37,065
37,218
15,389
15,478
15,507
15,801
16,024
16,282
16,401
16,546
16,623
16,627
16,653
16,672
10,347
10,464
10,635
10,784
10,936
11,146
11,291
11,414
11,463
11,470
11,473
11,472
3,274
3,310
3,385
3,476
3,546
3,636
3,691
3,767
3,810
3,850
3,885
3,923
3,341
3,350
3,354
3,388
3,405
3,445
3,525
3,569
3,580
3,568
3,578
3,670
,393
,402
,410
,411
,438
1,430
,452
,467
,468
,472
1,476
1,481
5,391
5,177
5,120
5,154
5,135
5,164
5,088
5,066
5,077
5,119
5,175
5,615
2,124
2,016
2,033
2,067
2,067
2,087
2,037
2,028
2,063
2,116
2,168
2,414
1,182
1,154
1,124
1,108
1,092
1,093
1,079
1,080
1,070
1,065
1,068
1,107
307
306
305
304
307
311
313
317
322
324
325
333
470
462
457
455
449
442
430
418
402
386
375
359
1,308
1,239
1,201
1,220
1,220
1,231
1,229
1,223
1,220
1,228
1,239
1,402
1961—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
42,346
41,875
41,671
41,627
41,787
42,089
42,141
42,358
42,334
42,494
42,737
43,527
37,947
37,561
37,318
37,224
37,275
37,466
37,467
37,584
37,474
37,501
37,572
37,935
17,539
17,285
17,148
17,072
17,079
17,113
17,094
17,121
16,993
16,988
16,974
17,008
11,405
11,288
11,163
11,113
11,087
11,144
11,130
11,113
11,104
11,088
11,100
11,273
3,878
3,883
3,914
3,956
4,011
4,096
4,132
4,192
4,218
4,252
4,297
4,330
3,645
3,621
3,603
3,606
3,607
3,622
3,633
3,659
3,650
3,671
3,684
3,799
,480
1,484
,490
,477
,491
1,491
1,478
,499
,509
,502
,517
,525
4,399
4,316
4,353
4,401
4,510
4,623
4,674
4,772
4,860
4,994
5,165
.5,595
1,327
1,367
1,452
1,545
1,650
1,748
1,811
1,896
1,979
2,097
2,208
2,421
1,069
1,040
1,011
995
989
991
981
987
994
997
1,015
1,058
323
313
305
297
296
296
295
295
294
291
288
293
356
352
352
351
352
354
352
350
343
341
342
342
1,324
1,244
1,233
1,213
1,223
1,234
1,235
1,244
1,250
1,268
1,312
1,481
1962—Jan..
Feb..
Mar.
Apr.,
May.
June.
July.
Aug.
Sept.
Oct.,
Nov.
Dec.
43,188
42,979
43,075
43,711
44,338
45,056
45,490
46,020
46,145
46,526
47,052
48,034
37,993
37,887
37,968
38,460
38,984
39,585
40,013
40,492
40,561
40,864
41,256
41,782
16,964
16,967
17,062
17,366
17,686
18,024
18,251
18,460
18,491
18,680
18,847
19,005
11,468
11,361
11,283
11,359
11,440
11,570
11,682
11,796
11,787
11,860
11,986
12,194
4,277
4,277
4,315
4,402
4,488
4,581
4,639
4,734
4,762
4,814
4,861
4,902
3,782
3,783
3,795
3,826
3,836
3,876
3,907
3,948
3,969
3,974
4,009
4,131
,502
,499
,513
,507
,534
,534
,534
,554
,552
,536
,553
,550
5,195
5,092
5,107
5,251
5,354
5,471
5,477
5,529
5,583
5,662
5,796
6,252
2,158
2,153
2,227
2,339
2,430
2,522
2,545
2,609
2,675
2,737
2,835
3,013
1,036
1,018
998
991
997
990
989
999
998
,002
,019
,073
288
285
281
280
280
283
283
285
284
285
287
294
310
298
314
350
342
356
358
338
333
338
319
345
1,403
1,338
1,287
1,291
1,305
1,320
1,302
1,298
1,293
1,300
1,336
1,527
1963—Jan..
Feb..
Mar.
Apr.
May
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
47,920
47,852
48,075
48,806
49,484
50,307
50,894
51,526
51,718
52,257
52,695
53,745
42,335
42,371
42,531
43,149
43,723
44,373
44,878
45,375
45,687
46,161
46,462
46,992
19,129
19,256
19,450
19,882
20,229
20,602
20,874
21,101
21,145
21,391
21,486
21,610
12,668
12,556
12,460
12,506
12,583
12,693
12,807
12,906
13,073
13,187
13,302
13,523
4,864
4,876
4,928
5,034
5,139
5,251
5,330
5,412
5,458
5,529
5,569
5,622
4,134
4,138
4,139
4,174
4,191
4,241
4,276
4,329
4,381
4,425
4,461
4,590
,540
,545
,554
,553
,581
,586
,591
,627
,630
,629
,644
,647
5,585
5,481
5,544
5,657
5,761
5,934
6,016
6,151
6,031
6,096
6,233
6,753
2,478
2,480
2,566
2,686
2,797
2,925
2,999
3,107
3,025
3,077
3,172
3,427
,049
,027
,002
992
994
997
994
1,004
1,009
1,015
1,032
1,086
290
284
278
273
274
274
274
276
279
280
282
287
308
288
315
324
319
331
343
341
321
325
326
328
1,460
1,402
1,383
1,382
1,377
1,407
1,406
1,423
1,397
1,399
1,421
1,625
1
2
Consumer finance cos. are included with "other" financial institutions until 1950.
Includes mail-order houses.
3 Automobile paper only; other instalment credit held by automobile dealers is included with "other" retail outlets.
42
3. INSTALMENT CREDIT HELD BY COMMERCIAL BANKS, 1919-63
[In millions of dollars]
End of
period
Automobile paper
Total
Total
Purchased Direct
Repair
Other
and
con- modPersumer erniza- sonal
goods
tion
loans
paper loans
End of
month
1
3
5
5
7
9
10
12
16
12
14
16
20
27
34
10
14
18
21
24
8
10
10
12
13
22
24
26
28
27
45
58
71
92
121
17
16
13
20
32
25
23
18
18
20
13
12
10
11
16
25
22
18
15
27
124
100
78
63
74
78
155
227
239
415
55
113
163
149
237
23
42
64
90
178
30
77
112
125
166
183
241
112
104
135
124
182
255
274
363
1,452
1,726
862
532
574
615
785
283
144
160
339
447
149
58
59
276
338
134
86
101
232
309
153
76
87
165
161
124
77
75
440
471
302
235
252
1945
1946
1947.
1948
1949
745
1,567
2,625
3,529
4,439
209
480
891
1,328
1,795
66
169
352
575
849
143
311
539
753
946
114
299
550
794
1,016
110
242
437
568
715
312
546
747
839
913
1950
1951
1952
1953
1954
5,798
5,771
7,524
8,998
8,796
2,471
2,446
3,262
4,082
3,937
1,177
1,135
1,633
2,215
2,269
1,294
1,311
1,629
1,867
1,668
1,456
1,315
1,751
2,078
1,880
834
888
[,137
1,317
,303
1,037
1,122
1,374
1,521
1,676
1955
1956
1957
1958
1959
10,601
11,777
12,843
12,780
15,227
5,305
5,726
6,355
6,184
7,352
3,243
3,651
4,130
4,014
4,827
2,062
2,075
2,225
2,170
2,525
2,042
2,464
2,557
2,269
2,640
1,338
1,469
1,580
1,715
2,039
1,916
2,118
2,351
2,612
3,196
1960
1961
1962
1963
16,672
17,008
19,005
21,610
8,136
8,251
9,635
11,249
5,316
5,391
6,184
7,246
2,820
2,860
3,451
4,003
2,759
2,761
2,824
3,123
2,200
2,198
2,261
2,361
3,577
3,798
4,285
4,877
1919.
1920.
1921.
1922.
1923.
1924.
19
25
31
39
52
69
2
4
6
8
10
14
1
2
3
4
6
2
3
4
5
6
8
1925.
1926
1927.
1928
1929
94
116
136
167
201
19
24
29
35
40
9
10
11
14
16
1930
1931
1932,
1933
1934
204
173
137
127
169
42
39
31
38
52
1935,
1936
1937.
1938,
1939
415
655
706
742
1,079
1940
1941
1942.
1943.
1944
1940—j an .
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
1,113
[,130
1,157
1,197
[,254
1,330
1,345
[,382
1,399
1,414
1,443
1,452
432
446
461
482
515
550
560
574
584
595
607
615
246
253
260
274
294
316
319
325
328
332
337
339
186
193
201
208
221
234
241
249
256
263
270
276
175
171
111
188
197
222
220
233
232
227
237
232
134
133
131
135
139
144
147
152
156
160
163
165
372
380
388
392
403
414
418
423
427
432
436
440
1941—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
1,482
1,518
1,541
1,615
1,692
1,756
1,803
1,829
1,832
1,795
1,761
1,726
634
646
662
709
756
796
820
840
846
826
802
785
349
354
362
389
416
440
458
473
480
470
457
447
285
292
300
320
340
356
362
367
366
356
345
338
231
244
244
261
281
300
319
322
325
316
320
309
164
164
161
163
165
168
168
170
172
171
165
161
453
464
474
482
490
492
496
497
489
482
474
471
Automobile paper
Total
Total
Purchased
Direct
Repair
Other
and
con- modsumer ernizagoods tion
paper loans
1942—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
1,650
1,581
1,534
1,468
1,391
1,320
1,241
1,164
1,085
1,003
928
862
734
687
658
618
577
538
495
460
415
369
326
283
417
389
374
349
324
302
274
259
230
202
176
149
317
298 i
284 i
269 !
253
236
221
201
185
167
150
134
302
295
286
275
259
243
225
207
190
175
163
153
156
151
146
142
138
134
129
125
125
124
124
124
1943_j a n .
Feb.
Mar.
M*ay
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
799
732
685
642
613
591
570
555
547
537
532
532
248
221
198
182
171
161
152
150
149
148
146
144
128
110
95
84
77
71
66
64
63
62
60
58
120
111
103
98
94
90
86
86
86
86
86
86
145
129
116
106
100
92
87
81
77
74
75
76
121
114
106
100
95
91
87
84
83
81
79
77
1944_j a n .
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
523
510
518
518
525
541
549
553
553
556
559
574
141
140
140
144
149
156
162
164
163
162
160
160
56
55
54
54
55
58
63
64
64
62
61
59
85
85
86
90
94
98
99
100
99
100
99
101
79
73
70
69
69
71
71
71
72
77
80
87
74
71
70
68
68
69
70
71
73
73
75
75
1945_jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
578
571
589
594
607
625
635
636
647
674
708
745
159
158
164
165
166
171
173
174
179
186
195
209
57
56
56
56
55
56
56
57
59
60
63
66
102
102
108
109
111
115
117
117
120
126
132
143
92
88
88
89
90
92
93
93
93
99
106
114
75
76
78
79
82
86
89
92
94
100
106
110
1946—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
786
822
881
954
1,029
1,100
1,170
1,253
1,318
1,395
1,472
1,567
222
234
250
279
306
329
349
377
396
421
450
480
70
74
81
94
105
112
118
131
139
148
159
169
152
160
169
185
201
217
231
246
257
273
291
311
127
115
132
140
152
170
185
205
223
236
257
274
299
121
131
141
150
162
172
187
200
214
226
242
1947—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
1,657
1,725
1,826
1,928
2,037
2,140
2,216
2,288
2,351
2,428
2,514
2,625
515
552
601
643
685
723
751
779
800
823
858
891
184
198
220
239
256
278
290
303
318
327
342
352
331
354
381
404
429
445
461
476
482
496
516
539
323
334
349
372
401
427
444
454
466
485
511
550
248
252
262
279
297
319
338
359
385
408
423
437
43
3. INSTALMENT CREDIT HELD BY COMMERCIAL BANKS, 1919-63 - Continued
[In millions of dollars]
Other
con...
Repair
and
mod-
sumer
erniza-
goods
paper
tion
loans
loans
561
577
610
639
661
683
707
729
738
739
747
753
594
597
619
658
676
690
710
731
761
768
775
794
442
445
456
476
491
508
518
527
542
553
564
568
754
762
776
792
802
820
831
843
846
837
834
839
1954-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Automobile paper
End of
month
Total
- -
Total
Purchased Direct
I-
Automobile paper
Personar
- - - -
End of
month
2,092
1,997
1,955
1,939
1,925
1,913
1,887
1,871
1,855
1,852
1,858
1,880
1,303
1,290
1,279
1,281
1,293
1,293
1,301
1,308
1,312
1,317
1,311
1,303
1,521
1,533
1,561
1,577
1,581
1,611
1,626
1,638
1,645
1,650
1,653
1,676
8,829
8,883
9,057
9,248
9,472
9,773
9,935
10,151
10,328
10,412
10,489
10,601
3,962
4,025
4,173
4,306
4,469
4,676
4,808
4,981
5,114
5,195
5,239
5,305
2,294
2,344
2,435
2,516
2,631
2,793
2,870
2,993
3,079
3,152
3,193
3,243
1,668
1,681
1,738
1,790
1,838
1,883
1,938
1,988
2,035
2,043
2,046
2,062
1,906 1,269
1,897 1,248
1,902 1,231
1,901
1,236
1,244
1,925
1,960 1,260
1,965
1,271
1,974 1,288
1,990 1,307
1,992 I 1,325
2,015
1,332
1,338
2,042
1,692
1,713
1,751
1,805
1,834
1,877
1,891
1,908
1,917
1,900
1,903
1,916
10,615
10,659
10,782
10.985
11,139
11,414
11,508
11,591
11,604
11,674
11,715
11,777
5,320
5,374
5,466
5,549
5,627
5,695
5,736
5,782
5,757
5,732
5,722
5,726
3,254
3,297
3,352
3,409
3,469
3,529
3,579
3,628
3,633
3,636
3,640
3,651
2,066
2,077
2,114
2,140
2,158
2,166
2,157
2,154
2,124
2,096
2,082
2,075
2,045
2,033
2,040
2,101
2,134
2,296
2,315
2,312
2,324
2,394
2,430
2,464
1,317
1,310
1,310
1,323
1,348
1,371
1,386
1,407
1,430
1,452
1,466
1,469
1,933
1,942
1,966
2,012
2,030
2,052
2,071
2,090
2,093
2,096
2,097
2,118
Dec.
11,712
11,741
11,820
12,069
12,234
12,421
12,608
12,711
12,764
12,860
12,838
12,843
5,742
5,784
5,865
5,979
6,083
6,186
6,263
6,330
6,355
6,383
6,365
6,355
3,658
3,690
3,739
3,810
3,878
3,955
4,015
4,071
4,102
4,140
4,132
4,130
2,084
2,094
2,126
2,169
2,205
2,231
2,248
2,259
2,253
2,243
2,233
2,225
2,387
2,373
2,362
2,448
2,457
2,490
2,557
2,538
2,545
2,582
2,566
2,557
1,456
1,446
1,444
1,453
1,471
1,492
1,510
1,538
1,554
1,576
1,586
1,580
2,127
2,138
2,149
2,189
2,223
2,253
2,278
2,305
2,310
2,319
2,321
2,351
1,138
1,153
1,186
1,207
1,232
1,276
1,293
1,312
1,335
1,347
1,351
1,374
1958-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
12,749
12,562
12,456
12,579
12,612
12,676
12,776
12,834
12,633
12,645
12,660
12,780
6,315
6,252
6,188
6,194
6,195
6,213
6,233
6,240
6,190
6,151
6,139
6,184
4,097
4,053
3,997
3,991
3,990
4,000
4,017
4,033
4,008
3,990
3,988
4,014
2,218
2,199
2,191
2,203
2,205
2,213
2.216
2,207
2,182
2,161
2,151
2,170
2,502
2,394
2,350
2,401
2,387
2,380
2,404
2,410
2,221
2,232
2,240
2,269
1,569
1,553
1,544
1,550
1,571
1,589
1,608
1,635
1,659
1,688
1,708
1,715
2,363
2,363
2,374
2,434
2,459
2,494
2,531
2,549
2,563
2,574
2,573
2,612
1,386
1,398
1,431
1,447
1,459
1.485
1,497
1,500
1,507
1,505
1,501
1,521
1959-Jan.
Feb.
Mar.
Apr.
May
12,931
12,981
13,150
13,462
13,758
14,098
14,390
14,688
14,886
15,063
15,131
15,227
6,242
6,299
6,404
6,577
6,731
6,918
7,066
7,204
7,279
7,369
7,385
7,352
4,046
4,079
4,140
4,250
4,352
4,489
4,596
4,703
4,769
4,841
4,854
4,827
2,196
2,220
2,264
2,327
2,379
2,429
2,470
2,501
2,510
2,528
2,531
2,525
2,326
2,303
2,308
2,337
2,382
2,425
2,474
2,528
2,557
2,582
2,592
2,640
1,713
1,709
1,720
1,748
1,790
1,831
1,876
1,916
1,953
1,991
2,017
2,039
2,650
2,670
2,718
2,800
2,855
2,924
2,974
3,040
3,097
3,121
3,137
3,196
1949-1an.
Feb.
Mar.
Apr.
May
lune
July
Aug.
Sept.
Oct.
Nov.
Dec.
3,536
3,507
3,556
3,639
3,761
3,875
3,956
4,066
4,160
4,268
4,347
4,439
1,320
1,327
1,373
1,430
1,493
1,539
1,598
1,659
1,703
1,747
1,781
1,795
568
575
600
632
663
685
715
751
776
807
831
849
752
752
773
798
830
854
883
908
927
940
950
946
810
782
773
783
816
836
847
863
889
929
958
1,016
565
562
567
574
588
612
620
647
665
688
706
715
841
836
843
852
864
888
891
897
903
904
902
913
1955-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
I 950-1an.
4,503
4,537
4,652
4,751
4,940
5,171
5,393
5,607
5,819
5,869
5,808
5,798
1,820
1,861
1,929
1,992
2,081
2,206
2,339
2,440
2,519
2,530
2,495
2,471
865
889
924
956
998
1,058
1,124
1,162
1,202
1,208
1,191
1,177
955
972
1,005
1,036
1,083
1,148
1,215
1,278
1,317
1,322
1,304
1,294
1,058
1,048
1,082
1,106
1,163
1,208
1,263
1,338
1,429
1,463
1,444
1,456
712
714
705
708
729
754
773
795
816
830
833
834
913
914
936
945
967
1,003
1,018
1,034
1,055
1,046
1,036
1,037
1956-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
5,791
5,720
5,724
5,720
5,736
5,747
5,705
5,764
5,738
5,753
5,760
5,771
2,447
2,435
2,435
2,444
2,468
2,479
2,467
2,499.
2,516
2,496
2,475
2,446
1,154
1,136
1,122
1,118
1,133
1,144
1,143
1,158
1,170
1,159
1,151
1,135
1,293
1,299
1,313
1,326
1,335
1,335
1,324
1,341
1,346
1,337
1,324
1,311
1,476
1,429
1,415
1,394
1,376
1,365
1,334
1,329
1,270
1,281
1,293
1,315
822
812
811
815
823
825
831
845
858
874
887
888
1,046
1,044
1,063
1,067
1,069
1,078
1,073
1,091
1,094
1,102
1,105
1,122
1957-1an.
Feb.
Mar.
Apr.
May
5,769
5,769
5,807
5,898
6,143
6,458
6,648
6,793
6,945
7,158
7,310
7,524
2,426
2,434
2,449
2,503
2,649
2,821
2,907
2,950
3,004
3,093
3,170
3,262
.1,123
1,128
1,132
1,161
1,251
1,356
1,407
1,433
1,470
1,524
1,572
1,633
1,303
1,306
1,317
1,342
1,398
1,465
1,500
1,517
1,534
1,569
1,598
1,629
1,323
1,301
1,291
1,289
1,331
1,394
1,444
1,495
1,537
1,609
1,659
1,751
882
881
881
899
931
967
1,004
1,036
1,069
1,109
1,130
l,137
7,665
7,797
8,059
8,286
8,491
8,675
8,843
8,931
8,969
9,009
9,006
8,998
3,337
3,428
3,575
3,723
3,858
3,949
4.047
4,103
4,123
4,141
4,126
4,082
1,685
1,733
1,814
1,902
1,989
2,043
2,109
2,151
2,183
2,213
2,220
2,215
1,652
1,695
1,761
1,821
1,869
1,906
1,938
1,952
1,940
1,928
1,906
1,867
1,809
1,835
1,909
1,956
1,990
2,029
2,062
2,070
2,057
2,060
2,061
2,078
1,133
1,136
1,144
1,160
1,184
1,212
1,237
1,258
1,282
1,303
1,318
1,317
Dec.
1951-Jan.
Feb.
Mar.
Apr.
May
lune
July
Aug.
Sept.
Oct.
Nov.
Dec.
I 952-1an.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
1953-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
- - - - 1,807
1,773
1,755
1,745
1,735
1,729
1,724
1,714
1,696
1,681
1,657
1,668
365
380
412
441
460
484
513
540
559
569
572
575
Nov.
Purchased Direct
2,191
2,162
2,164
2,180
2,195
2,237
2,251
2,253
2,259
2,259
2,249
2,269
926
957
1,022
1,080
1,121
1,167
1,220
1,269
1,297
1,308
1,319
1,328
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
-
Total
Personal
loans
3,998
3,935
3,919
3,925
3,930
3,966
3,975
3,967
3,955
1,940
3,906
3,937
2,716
2,761
2,873
3,006
3,090
3,1853,279
3,370
3,446
3,466
3,492
3,529
1948-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Total
Repair
Other
and
conmodsumer ernization
goods
paper loans
44
Nov.
Dec.
Nov.
Dec.
June
July
Aug.
Sept.
Oct.
Nov.
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
8,914
8,755
8,714
8,722
8,729
8,783
8,789
8,784
8,767
8,759
8,728
8,796
I
3. INSTALMENT CREDIT HELD BY COMMERCIAL BANKS, 1919-63 - Continued
[In millions of dollars)
Repair
and
modsumer ernizagoods
tion
paper loans
Personal
loans
2,538
2,568
2,619
2,689
2,744
2,787
2,803
2,820
2,812
2,802
2,824
2,820
2,787
2,789
2,673
2,685
2,697
2,719
2,732
2,730
2,738
2,739
2,732
2,759
2,031
2,030
2,032
2,056
2,090
2,123
2,140
2,169
2,190
2,201
2,207
2,200
3,211
3,237
3,270
3,348
3,384
3,432
3,453
3,502
3,531
3,530
3,537
3,577
1962-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
16,964
16,967
17,062
17,366
17,686
18,024
18,251
18,460
18,491
18,680
18,847
19,005
8,264
8,309
8,422
8,625
8,836
9,052
9,202
9.324
9,299
9,438
9,569
9,635
2,805
2,788
2,802
2,810
2,836
2,861
2,861
2,859
2,821
2,824
2,851
2,860
3,742
3,596
3,449
3,309
3,202
3,095
3,026
2,962
2,864
2,820
2,764
2,761
2,171
2,148
2,134
2,141
2,155
2,170
2,179
2,191
2,206
2,210
2,210
2,198
3,566
3,566
3,589
3,642
3,670
3,712
3,719
3,763
3,175
3,769
3,765
3,798
1963-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
19,129
19,256
19,450
19,882
20,229
20,602
20,874
21,101
21,145
21,391
21,486
21,610
9,708
9,811
9,978
10,248
10,489
10,718
10,898
11,009
10,915
11,128
11,202
11,249
Automobile paper
End of
month
Total
Total
Purchased
1960-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
15,389
15,478
15,507
15,801
16,024
16,282
16,401
16,546
16,623
16,627
16,653
16,672
7,360
7,421
7,532
7,711
7,853
8,009
8,076
8,145
8,165
8,157
8,177
8,136
4,822
4,854
4,913
5,021
5,110
5,221
5,273
5.325
5,353
5,355
5,353
5,316
1961-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
17,539
17,285
17,148
17,072
17,079
17,113
17,094
17,121
16,993
16,988
16,974
17,008
8,060
7,975
7,976
7,981
8,052
8,136
8,171
8,199
8,141
8,188
8,235
8,251
5,255
5,187
5,174
5,170
5,216
5,275
5,310
5,340
5,326
5,365
5,384
5,391
Direct
Other
con-
Automobile paper
- - - -
Total
Total
4S
End of
month
Purchased Direct
- -
Repair
and
Other
modPerconsumer emiza- sonal
goods
tion
loans
paper loans
5,379
5,398
5,457
5,569
5,692
5,823
5,923
6,011
6,012
6,095
6,164
6,184
2,885
2,911
2,965
3,056
3,144
3,229
3,279
3,314
3,287
3,343
3,405
3,451
2,718
2,690
2,656
2,653
2,682
2,716
2,736
2,730
2,738
2,755
2,173
2,824
2,170
2,147
2,132
2,143
2,165
2,188
2,210
2,231
2,247
2,262
2,270
2,261
3,812
3,821
3,852
3,945
4,003
4,068
4,103
4,174
4,208
4,225
4,235
4,285
6,216
6,281
6,386
6,549
6,695
6,849
6,916
7,013
7,012
7,117
7,218
7,246
3,492
3,530
3,592
3,699
3,794
3,869
3,922
3,936
3,903
3,951
3,984
4,003
2,861
2,865
2,866
2,895
2,930
2,973
2,986
3,012
3,033
3,013
3,084
3,123
2,239
2,220
2,209
2,229
2,258
2,286
2,312
2,336
2,352
2,310
2,373
2,361
4,321
4,360
4,397
4,510
4,552
4,625
4,618
4,744
4,185
4,820
4,827
4,871
4. INSTALMENT CREDIT HELD BY SALES FINANCE COMPANIES, 1919-63
[In millions of dollars]
End of period
Total
Automobile
paper
Other
consumer
goods
paper
Repair
and
modernization
loans
Personal
loans
1919
1920
1921
1922
1923
1924
73
105
93
136
222
293
42
61
54
86
164
215
31
44
39
50
58
78
1925
1926
1927
1928
1929
529
669
628
816
1,074
402
501
445
572
736
127
168
183
244
337
1
1930
1931
1932
1933
1934
880
684
418
507
630
568
432
259
368
All
309
243
146
122
123
9
3
9
13
17
21
974
1,353
1 415
969
1 197
770
1,077
1 120
707
878
111
126
156
114
115
67
117
98
102
148
26
33
41
46
56
1940 .
1941
1942
1943
1944
1 575
1,797
588
252
262
1 187
1,363
341
131
153
136
167
78
34
28
190
201
117
42
33
62
66
52
45
48
1945
1946
1947
1948
1949
300
677
1 355
2,011
2 944
164
377
802
1,333
2 265
24
67
185
287
447
58
141
242
225
90
54
92
126
166
142
1950
1951
1952
1953
1954
3,711
3,654
4 711
5,927
6 144
2,956
2,863
3 630
4,688
4 870
532
452
680
816
841
61
63
60
46
31
162
276
341
377
402
1955
1956
1957
1958.
1959
8 447
9,117
9,609
8,844
10,319
6 905
7,238
7,393
6 310
7,187
1 048
1,277
1,509
1 717
2,114
28
32
31
36
72
466
570
676
781
946
11,472
11,273
12,194
13,523
7,528
6811
7,449
8,228
2,739
3 100
3,123
3,383
139
161
170
158
1,066
1,201
1,452
1,754
1,197
1,207
1,240
1,300
1 361
1 414
1,459
1,483
1,475
1,497
1,532
1 575
879
890
922
978
032
079
,118
,130
,112
,131
,156
187
115
114
115
118
122
124
125
127
128
130
130
136
147
147
146
147
149
152
157
166
175
176
186
190
56
56
57
57
58
59
59
60
60
60
60
62
1,592
1,620
1,671
1,773
1,884
1,966
2,019
2,047
1,984
1,928
1,867
1,797
,206
236
,287
,383
,485
,561
,609
,625
,554
,495
,437
363
134
133
134
138
145
149
152
158
160
162
162
167
190
190
188
189
190
191
193
198
204
206
203
201
62
61
62
63
64
65
65
66
66
65
65
66
1935
1936
1937. .
1938
1939 .
...
..
1960
1961
1962
1963
1940—Jan
Feb
Mar
Apr
May
June
July
Aug
Sent
Oct
Nov
Dec
1941
Jan
Feb
Mar
Apr
May
June
July
Aug
Seot
Oct
Nov
Dec
Total
End of month
Other
consumer
goods
paper
Repair
and
modernization
loans
Personal
loans
1942—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
1,689
1,573
1,461
1,347
1,241
1,130
1,027
919
828
738
665
588
. . ..
1,270
1,167
1,064
963
871
781
701
613
538
466
405
341
161
157
157
151
147
137
127
118
109
99
90
78
193
185
176
170
161
151
140
131
126
120
118
117
65
64
64
63
62
61
59
57
55
53
52
52
1943_j a n
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
520
459
403
364
334
309
291
278
270
263
255
252
290
247
207
185
168
153
145
140
138
135
133
131
69
63
57
51
46
42
39
38
36
36
34
34
112
102
92
82
75
69
63
57
53
49
45
42
49
47
47
46
45
45
44
43
43
43
43
45
1944—Jan
Feb
Mar
Apr
May
. .
June... .,
July
Aug
Sept
Oct....
Nov
Dec
242
237
236
236
241
249
261
266
265
265
265
262
127
126
127
130
138
147
157
162
161
161
159
153
32
30
29
28
28
28
29
30
30
30
30
28
39
38
35
34
31
30
30
30
30
30
31
33
44
43
45
44
44
44
45
44
44
44
45
48
1945—Jan
Feb
Mar
Apr
May
June
July
253
247
247
246
247
253
257
262
266
111
289
300
146
141
139
138
138
141
144
145
149
153
160
164
27
25
24
23
21
20
19
20
20
23
23
24
34
35
37
38
41
44
46
49
50
53
56
58
46
46
47
47
47
48
48
48
47
48
50
54
310
323
340
373
404
429
460
496
536
579
624
677
170
176
188
207
225
236
255
274
298
322
345
377
25
28
29
33
37
39
43
47
51
57
61
67
61
64
67
74
82
88
54
55
56
59
60
66
106
115
125
133
141
69
72
75
85
92
714
762
823
890
952
1,013
1,065
1,116
1,162
1,221
1,288
1,355
403
437
478
522
564
601
632
661
687
718
758
802
67
78
87
97
104
114
121
129
137
157
169
185
150
150
157
169
178
190
202
215
226
233
241
242
94
97
101
102
106
108
110
111
112
113
120
126
Sept .
Oct
Nov
Dec
1946—Jan
Feb .
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
1947 Jan
Feb
Mar
Apr
May
June..
July
Aug
Sept
Oct
Nov
Dec
46
Automobile
paper
97
65
4. INSTALMENT CREDIT HELD BY SALES FINANCE COMPANIES, 1919-63 — Continued
[In millions of dollars]
Automobile
paper
Other
consumer
goods
paper
Repair
and
modernization
loans
Repair
End of month
Total
1948—Jan.. .
Feb..
Mar..
Apr..
May.
June.
July..
Aug..
Sept..
Oct..
Nov..
Dec.
1,420
1,467
1,562
1,661
1,733
1,771
1,833
1,895
1,954
1,959
1,979
2,011
1949—Jan.. .
Feb..
Mar..
Apr..
May.
June.
July..
Aug..
Sept..
Oct...
Nov..
Dec.
Automobile
paper
Other
consumer
goods
paper
and
modernization
loans
Personal
loans
End of month
Total
1,037
1,079
1,109
1,164
1,220
1,271
1,280
1,304
1,333
207
211
218
233
254
264
273
280
290
289
286
287
236
238
245
252
248
245
243
239
235
232
225
137
141
145
146
148
150
151
152
154
155
157
166
1954__jan..
Feb.
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
5,839
5,750
5,664
5,666
5,697
5,799
5,918
5,977
6,010
6,030
6,043
6,144
4,615
4,543
4,477
4,483
4,521
4,617
4,720
4,774
4,803
4,815
4,811
4,870
803
790
771
766
760
765
779
784
791
798
810
841
47
45
43
42
40
39
37
36
34
33
32
31
2,001
2,014
2,090
2,192
2,319
2,423
2,521
2,648
2,738
2,822
2,897
2,944
1,335
1,354
1,437
1,542
1,665
1,761
1,850
1,968
2,057
2,142
2,220
2,265
296
309
318
327
341
358
381
404
422
431
438
447
204
186
171
163
156
150
140
130
116
107
99
90
166
165
164
160
157
154
150
146
143
142
140
142
1955—Jan..
Feb.
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
6,180
6,274
6,480
6,716
6,995
7,317
7,631
7,943
8,169
8,271
8,325
8,447
4,902
4,991
5,193
5,418
5,680
5,976
6,255
6,529
6,729
6,808
6,839
6,905
844
847
849
855
872
1,012
1,048
29
28
26
25
24
23
23
25
25
26
26
28
1950—Jan...
Feb...
Mar..
Apr...
May..
June..
July..
Aug..,
Sept..
Oct...
Nov..
Dec...
2,960
3,008
3,073
3,160
3,265
3,427
3,618
3,733
3,825
3,819
3,757
3,711
2,293
2,349
2,416
2,493
2,582
2,714
2,873
2,964
3,034
3,038
2,995
2,956
446
446
452
467
484
511
540
559
576
568
546
532
83
78
71
66
64
63
62
63
65
64
63
61
138
135
134
134
135
139
143
147
150
149
153
162
1956—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug..
Sept.,
Oct..
Nov.
Dec.
8,440
8,465
8,531
8,581
8,647
8,772
8,856
8,960
8,997
8,983
9,089
9,117
6,903
6,921
6,974
7,013
7,073
7,170
7,232
7,309
7,328
7,294
7,263
7,238
1,040
1,043
1,045
1,047
1,046
1,067
1,080
1,095
1,108
,122
1,248
1,277
28
28
28
29
29
30
30
30
30
32
31
32
1951—Jan.. .
Feb...
Mar..
Apr...
May..
June.,
July..
Aug...
Sept..
Oct...
Nov..
Dec...
3,659
3,597
3,555
3,534
3,555
3,597
3,597
3,684
3,725
3,695
3,682
3,654
3,591
3,552
3,516
3,551
3,731
3,985
4,143
4,180
4,253
4,409
4,548
4,711
4,804
4,897
5,028
5,156
5,312
5,456
5,631
5,739
5,811
5,885
5,929
5,927
2,900
2,844
2,807
2,797
2,820
2,866
2,871
2,941
2,968
2,932
2,910
2,863
2,801
2,761
2,722
2,747
2,901
3,104
3,212
3,226
3,270
3,396
3,515
3,630
517
508
497
481
469
457
445
450
456
454
452
452
60
57
56
54
55
55
56
57
58
60
61
63
182
188
195
202
211
219
225
236
243
249
259
276
1957—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug..
Sept.,
Oct..
Nov.,
Dec.
9,096
9,056
9,070
9,128
9,201
9,326
9,506
9,596
9,629
9,618
9,597
9,609
7,176
7,141
7,138
7,158
7,215
7,316
7,401
7,465
7,486
7,464
7,435
7,393
1,315
1,304
1,315
1,343
1,352
1,367
,447
1,465
1,474
,478
1,479
1,509
31
32
32
32
33
33
34
34
34
36
33
31
449
447
447
448
467
510
555
575
603
630
645
680
60
58
56
55
56
56
56
56
57
59
59
60
281
286
291
301
307
315
320
323
323
324
329
341
1958—Jan..
Feb..
Mar..
Apr..
May.
June.
July.
Aug..
Sept..
Oct..
Nov..
Dec.
9,502
9,451
9,335
9,256
9,188
9,173
9,195
9,165
8,983
8,877
8,812
8,844
7,284
7,157
6,999
6,886
6,804
6,758
6,707
6,641
6,511
6,386
6,303
6,310
1,503
1,571
1,604
1,632
1,641
1,657
,726
,752
,688
,701
,718
,717
32
32
32
33
34
34
34
35
35
36
36
36
3,705
3,792
3,916
4,032
4,169
4,292
4,440
4,527
4,592
4,665
4,705
4,688
695
704
715
727
744
760
789
810
817
816
813
816
58
56
54
54
51
49
46
43
44
44
45
46
346
345
343
343
348
355
356
359
358
360
366
377
1959_Jan..
Feb..
Mar..
Apr..
May.
June.
July.
Aug..
Sept..
Oct..
Nov..
Dec.
8,835
8,825
8,883
9,025
9,191
9,455
9,703
9,927
10,097
10,227
10,281
10,319
6,294
6,295
6,326
6,436
6,568
6,767
6,940
7,111
7,194
7,268
7,248
7,187
,719
,702
,721
,747
,776
,826
,883
1,919
1,965
1,999
2,051
1.,114
36
37
41
41
42
44
48
52
61
66
68
72
1952—Jan...
Feb...
Mar...
Apr...
May..
June..
July..
Aug...
Sept...
Oct...
Nov...
Dec...
1953_jan.. .
Feb...
Mar...
Apr...
May..
June..
July..
Aug...
Sept...
Oct.. .
Nov...
Dec...
843
879
961
233
47
897
926
958
981
998
4. INSTALMENT CREDIT HELD BY SALES FINANCE COMPANIES, 1919-63 — Continued
[In millions of dollars]
End of month
Total
Automobile
paper
Other
consumer
goods
paper
Repair
and
modernization
loans
Personal
loans
End of month
Total
Automobile
paper
Other
consumer
goods
paper
Repair
and
modernization
loans
Personal
loans
1960—Jan..
Feb.
Mar.
Apr.
May,
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
10,347
10,464
10,635
10,784
10,936
11,146
11,291
11,414
11,463
11,470
11,473
11,472
7,161
7,195
7,255
7,381
7,469
7,599
7,652
7,684
7,663
7,627
7,589
7,528
2,162
2,234
2,335
2,348
2,397
2,452
2,527
2,591
2,633
2,668
2,704
2,739
74
78
82
89
98
106
114
125
131
136
138
139
950
957
963
966
972
989
998
1,014
1,036
1,039
1,042
1,066
1962—Jan..
Feb.
Mar.
Apr..
May
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec.
11,468
11,361
11,283
11,359
11,440
11,570
11,682
11,796
11,787
11,860
11,986
12,194
6,754
6,745
6,772
6,864
6,991
7,12,2
7,228
7,327
7,296
7,350
7,440
7,449
3,345
3,243
3,134
3,093
3,027
2,997
2,981
2,969
2,957
2,952
2,967
3,123
162
162
163
165
167
168
171
171
172
172
171
170
1,207
1,211
1,214
1,237
1,255
1,283
1,302
1,329
1,362
1,386
1,408
1,452
1961—Jan..
Feb..
Mar.
Apr.
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
11,405
11,288
11,163
11,113
11,087
11,144
11,130
11,113
11,104
11,088
11,100
11,273
7,392
7,268
7,156
7,088
7,047
7,058
7,026
6,983
6,872
6,843
6,833
6,811
2,814
2,821
2,806
2,813
2,824
2,848
2,854
2,865
2,937
2,929
2,940
3,100
139
140
143
146
146
149
155
149
153
157
160
161
1,060
1,059
1,058
1,066
1,070
1,089
1,095
1,116
1,142
1,159
1,167
1,201
1963—Jan..
Feb.
Mar.
Apr.
May,
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec.
12,668
12,556
12,460
12,506
12,583
12,693
12,807
12,906
13,073
13,187
13,302
13,523
7,471
7,477
7,514
7,639
7,778
7,934
8,069
8,153
8,099
8,163
8,210
8,228
3,567
3,446
3,307
3,214
3,136
3,069
3,011
2,986
3,157
3,186
3,233
3,383
167
165
164
162
162
162
162
161
161
161
160
158
1,463
1,468
1,475
1,491
1,507
1,528
1,565
1,606
1,656
1,677
1,699
1,754
48
5. INSTALMENT CREDIT HELD BY OTHER FINANCIAL INSTITUTIONS, 1919-63
[In millions of dollars]
End of period
Total
Automobile
paper
1919. .
1920
1921
1922
1923
1924
72
84
95
105
123
153
2
2
2
2
4
6
1925
1926
1927 ..
1928
1929 ..
192
234
290
370
470
9
12
15
19
22
1930
1931
1932 ..
1933
1934 .
479
462
403
367
404
1935
1936
1937
1938
1939
1940
1941...
1942
1943 .
1944
Other
consumer
goods
paper
Repair
and
modernization
loans
Personal
loans
End of month
769
757
757
748
730
716
701
682
663
642
627
620
1943 Jan
Feb
Mar
Apr
May
June
July.
Aug
Sept
Oct
Nov
Dec
693
668
667
651
630
635
622
613
614
608
608
629
60
58
57
54
52
51
49
49
49
49
48
49
25
24
24
23
20
20
20
17
18
17
17
17
15
14
13
13
13
13
13
12
12
11
11
11
593
572
573
561
545
551
540
535
535
531
532
552
1944 Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov .
Dec
612
605
626
617
617
623
623
620
621
617
620
650
48
47
49
48
48
49
49
49
49
49
49
51
17
17
17
17
17
17
17
17
17
17
17
19
11
11
11
10
10
11
10
11
10
10
10
11
536
530
549
542
542
546
547
543
545
541
544
569
1945—Jan
Feb .
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
637
628
642
641
646
654
658
655
653
663
682
731
49
47
48
48
47
46
48
48
48
48
50
54
18
18
18
17
17
17
19
20
11
11
11
10
11
12
12
12
12
13
13
14
559
552
565
566
571
579
580
577
575
583
600
643
1946_Jan
Feb
Mar
Apr
May.
June.
July
Aug..
SeDt
Oct
Nov..
Dec
731
739
757
782
800
822
842
867
882
906
934
991
55
56
57
59
61
64
66
68
70
73
74
77
20
20
21
23
25
26
27
28
30
32
35
34
14
14
15
15
15
16
17
18
18
20
22
22
642
649
664
685
699
716
732
753
764
781
803
858
,008
I 017
1,036
1,064
1,088
107
,132
,150
1,150
1,168
1 205
1.275
80
82
85
91
98
103
108
112
115
118
122
130
36
37
41
42
47
50
54
55
57
59
63
69
24
24
24
26
27
27
28
30
32
35
38
39
868
874
886
905
916
927
942
953
946
956
982
1,037
Sept
Oct
Nov
Dec
24
22
22
22
28
3
6
8
9
11
1
452
434
373
336
364
471
572
683
703
789
34
44
54
63
81
12
16
16
21
24
3
6
9
12
15
422
506
604
607
669
891
957
726
629
650
102
122
65
49
51
30
36
27
17
19
16
14
14
11
11
743
785
620
552
569
1945
1946
1947
1948
1949
731
991
1 275
1,580
1 874
54
77
130
198
259
20
34
69
103
146
14
22
39
60
93
643
858
1,037
1,219
1,376
1950
1951
1952... .
1953
1954...
2 296
2,699
3 346
4 038
4*510
360
373
452
538
539
200
233
310
370
375
121
134
188
247
282
1,615
1,959
2,396
2 883
3*314
1955...
1956
1957
1958
1959
5 350
6 083
6,748
7,035
8,024
763
954
1,114
1,152
1,400
530
624
588
565
681
327
404
490
595
698
3,730
4 101
4,555
4,723
5,244
I960
1961
1962 .
1963
9 074
9,654
10,583
11 859
1 665
1,819
2,111
2,394
771
743
751
835
800
832
815
870
5,837
6,257
6,906
7,760
791
794
807
816
831
847
854
863
868
870
869
891
81
84
85
87
92
96
97
97
99
100
100
102
24
25
25
26
28
29
29
30
30
30
29
30
16
15
15
15
14
14
14
15
16
16
15
16
670
670
682
688
697
708
714
721
723
724
725
743
888
891
902
924
941
957
970
978
971
962
955
957
103
105
108
112
117
123
127
127
127
126
124
122
29
29
30
33
35
35
36
37
37
37
35
36
15
15
13
14
14
14
14
14
14
14
14
14
741
742
751
765
775
785
793
800
793
785
782
785
For note see p. 51.
,
1947 Jan....
Feb..
Mar
Apr..
May
June
July
Auc
Sept
Oct
Nov..
Dec
49
00 00 00 O>
12
12
12
12
12
12
12
12
12
13
14
14
183
221
274
350
447
1941—Jan
Feb
Mar
Apr
May.
June
July
Aug
Sept .
Oct
Nov
Dec
Personal
loans
36
37
36
36
35
34
33
29
29
28
27
27
1
1
1
Sept
Oct . .
Nov
Dec
Repair
and
modernization
loans
116
111
108
104
100
95
91
87
83
76
71
65
1942_Jan
Feb
Mar
Apr
May
June
July
AUK
Other
consumer
goods
paper
933
917
913
900
877
857
837
810
787
759
739
726
70
82
93
103
119
147
1940 Jan...
Feb
Mar.
Apr .
May
June
July .
Total
Automobile
paper
5. INSTALMENT CREDIT HELD BY OTHER FINANCIAL INSTITUTIONS, 1919-63 — Continued
[In millions of dollars]
End of month
Total
Automobile
paper
Other
consumer
goods
paper
Repair
and
modernization
loans
Personal
loans
End of month
Total
Automobile
paper
Other
consumer
goods
paper
Repair
and
modernization
loans
Personal
loans
1948—Jan..
Feb..
Mar.
Apr..
May.
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec.
1,286
1,301
1,334
1,360
1,389
1,419
1,450
1,474
1,501
1,504
1,524
1,580
133
137
144
151
157
165
174
181
188
190
194
198
72
73
77
80
86
87
88
91
96
96
100
103
38
39
40
42
45
46
48
51
54
56
59
60
1,043
1,052
1,073
1,087
1,101
,121
,140
,151
,163
,162
,171
1,219
1954—Jan...
Feb..
Mar..
Apr..
May.
June.
July..
Aug..
Sept..
Oct..
Nov..
Dec.
4,005
4,013
4,042
4,095
4,140
4,202
4,244
4,284
4,329
4,351
4,402
4,510
523
518
518
523
526
535
539
543
543
540
538
539
361
357
354
352
351
352
349
349
355
362
364
375
245
246
249
252
261
264
266
271
276
278
283
282
2,876
2,892
2,921
2,968
3,002
3,051
3,090
3,121
3,155
3,171
3,217
3,314
1949__j an ..
Feb..
Mar.
May!
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
1,572
1,567
1,583
1,606
1,629
1,661
1,694
1,721
1,746
1,759
1,799
1,874
198
200
204
211
215
224
229
236
242
248
253
259
102
100
102
105
113
116
125
128
132
134
138
146
61
62
64
65
69
72
72
77
82
84
90
93
1,211
1,205
1,213
1,225
1,232
1,249
1,268
1,280
1,290
1,293
,318
,376
1955—Jan...
Feb..
Mar..
Apr..
May.
June.
July..
Aug..
Sept..
Oct..
Nov..
Dec.
4,501
4,549
4,627
4,718
4,801
4,911
4,962
5,040
5,104
5,140
5,213
5,350
541
558
583
604
627
651
672
696
716
732
746
763
372
375
382
399
410
436
447
464
478
490
506
530
276
276
276
277
284
289
291
300
308
315
323
327
3,312
3,340
3,386
3,438
3,480
3,535
3,553
3,581
3,601
3,603
3,638
3,730
1950—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
1,878
1,881
1,911
1,940
1,992
2,048
2,105
2,154
2,173
2,209
2,237
2,296
263
267
279
290
302
320
336
345
352
354
355
360
146
146
148
151
158
165
171
184
192
197
196
200
94
95
96
98
104
105
110
113
115
120
125
121
,375
,373
,388
1,401
1,428
1,458
1,488
1,512
1,514
1,538
1,561
1,615
1956—Jan...
Feb..
Mar..
Apr..
May.
June.
July..
Aug..
Sept..
Oct...
Nov..
Dec.
5,339
5,393
5,466
5,533
5,614
5,691
5,753
5,845
5,875
5,908
5,978
6,083
766
784
802
823
846
870
887
908
920
932
944
954
532
542
552
557
570
581
590
604
608
616
620
624
320
322
329
333
347
355
359
370
380
390
401
404
3,720
3,745
3,784
3,820
3,851
3,886
3,917
3,964
3,966
3,971
4,012
4,101
1951—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
2,299
2,311
2,349
2,363
2,405
2,438
2,476
2,517
2,562
2,561
2,607
2,699
355
354
358
357
366
368
370
376
376
373
370
373
201
198
200
198
198
199
203
210
219
220
223
233
119
119
120
120
124
123
125
127
129
130
134
134
1,624
1,640
1,671
1,688
1,717
1,748
1,778
1,804
1,838
1,838
1,880
1,959
1957_Jan...
Feb..
Mar..
Apr..
May.
June.
July..
Aug..
Sept..
Oct...
Nov..
Dec.
6,057
6,098
6,141
6,224
6,300
6,381
6,470
6,558
6,582
6,604
6,636
6,748
951
961
973
993
1,013
1,039
1,061
1,082
1,091
1,104
1,109
1,114
612
609
603
606
608
609
608
609
603
598
588
588
402
408
416
421
436
443
450
465
473
479
488
490
4,093
4,121
4,150
4,205
4,243
4,291
4,351
4,403
4,414
4,424
4,451
4,555
1952—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
2,704
2,727
2,760
2,822
2,902
2,995
3,062
3,116
3,155
3,198
3,239
3,346
369
371
374
383
398
413
422
429
434
442
444
452
232
235
239
250
257
271
280
283
291
298
301
310
132
134
134
137
145
151
156
162
171
177
185
188
1,971
1,987
2,013
2,052
2,102
2,160
2,204
2,242
2,259
2,281
2,309
2,396
1958—Jan...
Feb..
Mar..
Apr..
May.
June.
July..
Aug..
Sept..
Oct...
Nov..
Dec.
6,703
6,686
6,662
6,705
6,726
6,760
6,792
6,841
6,851
6,863
6,900
7,035
1,098
1,093
1,089
1,100
1,108
1,115
1,124
1,135
1,137
1,139
1,141
1,152
574
563
552
550
547
546
547
550
551
553
555
565
496
497
500
504
521
529
535
551
566
575
588
595
4,536
4,533
4,520
4,551
4,549
4,571
4,586
4,607
4,598
4,594
4,615
4,723
1953—Jan..
Feb..
Mar.
3,390
3,401
3,482
3,554
3,619
3,701
3,778
3,827
3,875
3,896
3,943
4,038
457
462
478
494
506
522
531
537
543
545
539
538
314
317
323
330
335
341
347
350
357
357
363
370
189
189
194
198
206
211
217
223
231
238
246
247
2,430
2,433
2,487
2,532
2,572
2,627
2,683
2,717
2,744
2,756
2,795
2,883
1959—Jan...
Feb..
Mar..
Apr..
May.
June.
July. .
Aug..
Sept..
Oct...
Nov..
Dec.
6,985
7,011
7,059
7,123
7,199
7,309
7,398
7,564
7,660
7,732
7,836
8,024
1,145
1,154
1,172
1,194
1,217
1,251
1,274
1,315
1,342
1,360
1,379
1,400
559
564
571
583
595
611
621
637
643
651
661
681
584
589
596
602
619
631
641
661
674
680
693
698
4,697
4,705
4,720
4,745
4,766
4,815
4,863
4,952
5,002
5,041
5,103
5,244
M^y!
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
For note see p. 51.
50
5. INSTALMENT CREDIT HELD BY OTHER FINANCIAL INSTITUTIONS, 1919-63 — Continued
[In millions of dollars]
End of month
Total
Automobile
paper
Other
consumer
goods
paper
Repair
and
modernization
loans
Personal
loans
End of month
Total
Automobile
paper
Other
consumer
goods
paper
Repair
and
modernization
loans
Personal
loans
I960—Jan...
Feb..
Mar..
Apr..
May.
June.
July. .
Aug..
Sept..
Oct..
Nov..
Dec..
8,008
8,062
8,149
8,275
8,389
8,511
8,668
8,803
8,858
8,890
8,939
9,074
1,399
1,413
,441
1,478
1,506
1,544
1,566
1,600
1,613
1,630
1,649
,665
677
685
694
705
721
741
751
762
774
769
767
771
695
704
717
726
747
755
766
780
788
792
799
800
5,237
5,260
5,298
5,367
5,415
5,472
5,586
5,661
5,683
5,699
5,726
5,837
1962—Jan.. .
Feb...
Mar...
Apr...
May..
June..
July. .
Aug...
Sept...
Oct.. .
Nov...
Dec...
9,561
9,559
9,623
9,735
9,858
9,991
10,080
10,236
10,283
10,324
10,423
10,583
1,800
1,805
1,831
1,871
1,906
1,949
1,982
2,029
2,044
2,067
2,088
2,111
733
729
725
726
729
739
738
747
746
746
743
751
816
803
804
798
811
815
812
824
820
816
818
815
6,212
6,222
6,263
6,340
6,412
6,488
6,548
6,636
6,673
6,695
6,774
6,906
1961—Jan.. .
Feb..
Mar..
Apr..
May.
June.
July. .
Aug..
Sept..
Oct..
Nov..
Dec..
9,003
8,988
9,007
9,039
9,109
9,209
9,243
9,350
9,377
9,425
9,498
9,654
,648
,646
,655
1,667
1,692
1,724
,736
1,760
,771
,781
1,801
,819
754
742
734
728
728
732
729
740
738
740
737
743
790
788
790
788
801
806
800
824
829
826
834
832
5,811
5,810
5,828
5,857
5,890
5,947
5,977
6,028
6,040
6,078
6,126
6,257
1963—Jan...
Feb...
Mar...
Apr...
May..
June..
July..
Aug...
Sept...
Oct...
Nov...
Dec...
10,538
10,559
10,621
10,761
10,911
11,078
11,197
11,368
11,469
11,583
11,674
11,859
2,095
2,102
2,123
2,165
2,208
2,253
2,283
2,316
2,330
2,355
2,369
2,394
748
746
747
755
764
777
789
799
802
815
822
835
805
800
804
809
825
833
842
860
864
869
874
870
6,890
6,911
6,947
7,032
7,114
7,215
7,283
7,393
7,473
7,544
7,609
7,760
NOTE.—Institutions represented are consumer finance cos., credit
unions, industrial loan cos., mutual savings banks, savings and loan
assns., and other lending institutions holding consumer instalment loans
except commercial banks and sales finance cos.
51
6. INSTALMENT CREDIT HELD BY CONSUMER FINANCE COMPANIES, 1950-63
[In millions of dollars]
End of period
Total
Automobile
paper
Other
consumer
goods
paperi
Personal
loans
1950
1951
1952
1953
1954
1,286
1,555
1,866
2,137
2,257
125
133
155
156
129
128
154
207
240
234
1,033
1,268
1,504
1,741
1,894
1955
1956
1957
1958
1959
2,623
2,940
3,124
3,085
3,337
154
161
152
134
150
341
372
312
277
334
2,128
2,407
2,659
2,674
2,853
1960
1961
1962
1963
3,670
3,798
4,131
4,590
152
166
187
193
390
367
342
368
3,128
3,265
3,602
4,029
1950—Jan...
Feb..
Mar..
Apr..
May.
June.
July..
Aug..
Sept..
Oct.. ,
Nov..
Dec.
948
944
951
960
972
991
1,006
1,019
1,192
1,215
1,230
1,286
67
68
71
74
76
80
83
84
119
120
122
125
77
77
78
79
81
84
87
93
120
125
123
128
804
799
802
807
815
827
836
842
953
970
985
1,033
1951—Jan...
Feb..
Mar..
Apr..
May..
June..
July..
Aug..
Sept..
Oct...
Nov..
Dec..
1,296
1,305
1,330
!,341
1,361
1,387
1,412
1,433
1,463
1,452
,480
1,555
123
123
125
125
129
130
132
134
134
132
130
133
129
128
129
128
128
129
132
137
143
143
145
154
1,044
1,054
1,076
1,088
1,104
1,128
1,148
1,162
1,186
1,177
1,205
1,268
1952—Jan...
Feb..,
Mar..
Apr..
May..
June..
July..
Aug...
Sept..
Oct...
Nov..,
Dec...
1,563
,571
,589
,624
,652
,698
,731
,751
,761
,776
,788
,866
132
131
132
136
139
143
145
146
148
151
151
155
154
156
158
167
170
180
186
188
194
199
199
207
1,277
,284
1,299
,321
1,343
,375
1,400
,417
1,419
,426
,438
1,504
1953—Jan...
Feb...
Mar..
Apr...
May..
June..
July..
Aug...
Sept..
Oct.. .
Nov..,
Dec...
1,895
1,888
1,916
1,942
1,957
1,992
2,029
2,042
2,051
2,052
2,070
2,137
156
155
159
162
165
167
168
167
166
166
159
156
210
211
214
217
219
223
227
228
232
232
235
240
,529
,522
,543
,563
1,573
,602
,634
,647
,653
,654
,676
1,741
1954—Jan...
Feb.. .
Mar..,
2,125
2,113
>,111
150
144
140
233
228
223
1,742
,741
1,748
End of month
For note see p. 53.
52
Total
Automobile
paper
Other
consumer
goods
paper1
Personal
loans
1954_Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
2,126
2,126
2,144
2,158
2,157
2,169
2,171
2,184
2,257
139
138
139
138
137
135
132
129
129
222
219
219
217
215
221
225
226
234
1,765
1,769
1,786
1,803
1,805
1,813
1,814
1,829
1,894
1955_j a n ..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
2,254
2,265
2,291
2,332
2,352
2,398
2,423
2,449
2,464
2,482
2,523
2,623
128
131
137
141
145
148
153
156
155
155
155
154
230
231
235
246
254
273
281
291
300
309
322
341
1,896
1,903
1,919
1,945
1,953
1,977
1,989
2,003
2,008
2,018
2,046
2,128
1956—Jan..
Feb.,
Mar.
Apr,
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
2,632
2,657
2,687
2,715
2,740
2,774
2,811
2,843
2,839
2,847
2,863
2,940
154
155
156
158
160
164
166
166
164
163
163
161
344
349
353
355
362
367
370
375
374
377
372
372
2,134
2,153
2,179
2,202
2,217
2,244
2,275
2,302
2,301
2,308
2,328
2,407
1957_j a n ..
Feb..
Mar.
Apr.
May
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
2,926
2,929
2,927
2,962
2,972
2,996
3,040
3,057
3,049
3,040
3,049
3,124
158
157
155
156
158
162
163
161
159
157
155
152
361
357
350
350
348
344
341
338
331
325
315
312
2,407
2,416
2,423
2,456
2,466
2,490
2,536
2,559
2,558
2,558
2,578
2,659
1958—Jan..
Feb..
Mar.
Apr.
May.
June.
July.
Aug.,
Sept.
Oct..
Nov.
Dec.
3,106
3,086
3,061
3,059
3,039
3,037
3,038
3,033
3,012
2,999
2,999
3,085
148
145
142
140
140
139
139
140
138
136
135
134
304
294
283
278
274
272
271
271
271
272
271
in
2,654
2,647
2,636
2,641
2,624
2,626
2,628
2,623
2,604
2,590
2,592
2,674
1959—Jan..
Feb..
Mar.
Apr.,
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
3,074
3,064
3,057
3,056
3,054
3,073
3,100
3,140
3,157
3,175
3,215
3,337
134
134
134
135
135
138
140
145
146
146
148
150
21A
276
278
283
291
298
303
309
312
316
320
334
2,665
2,654
2,645
2,638
2,627
2,637
2,657
2,687
2,700
2,713
2,747
2,853
6. INSTALMENT CREDIT HELD BY CONSUMER FINANCE COMPANIES, 1950-63 — Continued
[In millions of dollars]
End of month
Total
Automobile
paper
Other
consumer
goods1
paper
Personal
loans
End of month
Total
Automobile
paper
Other
consumer
goods
paper1
Personal
loans
1960—Jan..
Feb.
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct.
Nov.
Dec.
3,341
3,350
3,354
3,388
3,405
3,445
3,525
3,569
3,580
3,568
3,578
3,670
149
149
149
148
150
152
153
154
153
151
153
152
334
338
341
348
358
372
380
387
396
392
389
390
2,858
2,863
2,865
2,892
2,897
2,922
2,992
3,028
3,031
3,025
3,037
3,128
1962—Jan..
Feb..
Mar.
Apr.
May
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec.
3,782
3,783
3,795
3,826
3,836
3,876
3,907
3,948
3,969
3,974
4,009
4,131
163
164
169
173
170
175
179
185
186
186
185
187
360
357
354
349
345
347
344
345
344
342
337
342
3,259
3,262
3,272
3,304
3,321
3,354
3,384
3,418
3,439
3,446
3,487
3,602
1961—Jan..
Feb.
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
3,645
3,621
3,603
3,606
3,607
3,622
3,633
3,659
3,650
3,671
3,684
3,798
151
149
148
148
152
154
153
154
155
157
160
166
378
368
361
355
354
354
353
370
365
366
363
367
3,116
3,103
3,094
3,103
3,102
3,114
3,126
3,136
3,130
3,148
3,161
3,265
1963—Jan..
Feb..
Mar.
Apr.
May
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec,
4,134
4,138
4,139
4,174
4,191
4,241
4,276
4,329
4,381
4,425
4,461
4,590
187
188
188
190
191
193
193
194
192
191
189
193
341
337
335
335
336
340
346
349
350
357
360
368
3,606
3,613
3,616
3,649
3,664
3,708
3,737
3,786
3,839
3,877
3,912
4,029
1
Includes a small amount of home repair and modernization loans.
53
7. NONINSTALMENT CREDIT, 1919-63
[In millions of dollars]
Singlepayment
loans
End of
period
Total
Singlepayment
loans
Charge accounts
Other
DeOther
Com- finanmerpartretail Credit
cial
cial
ment 1 outlets cards2
instibanks tutions stores
Service
credit
1919.
1920.
1921.
1922.
1923.
1924.
1,842
1,995
2,047
2,119
2,284
2,379
245
285
332
354
432
474
61
69
72
76
80
87
209
227
211
226
238
245
1,089
1,152
1,147
1,165
1,218
1,237
238
262
285
298
316
336
1925.
1926.
1927..
1928.
1929..
2,600
2,864
3,025
3,323
3,592
577
645
705
817
920
94
100
107
111
120
253
259
254
251
260
1,296
1,442
1,511
1,650
1,736
380
418
448
494
556
1930
1931
1932
1933
1934
3,329
2,852
2,354
2,162
2,219
837
589
396
316
364
118
123
109
102
109
248
219
173
171
174
1,585
1,416
1,201
1,115
1,132
541
505
475
458
440
1935
1936
1937
1938
1939
2,373
2,628
2,830
2,684
2,719
441
571
647
615
625
120
127
145
158
162
188
204
215
223
236
1,166
1,224
1,289
1,180
1,178
458
502
534
508
518
1940
1941
1942
1943
1944
2,824
3,087
2,817
2,765
2,935
636
693
593
521
553
164
152
120
92
71
251
275
217
217
256
1,220
1,370
1,227
1,223
1,261
553
597
660
712
794
1945.
1946.
1947.
1948.
1949.
3,203
4,212
4,903
5,451
5,774
674
1,008
1,203
,261
,334
72
114
153
184
198
290
452
532
575
587
1,322
1,624
1,821
2,098
2,208
28
49
59
845
1,014
1,166
1,284
1,388
1950.
1951.
1952.
1953.
1954.
6,768
7,418
8,117
8,388
8,896
,576
,684
,844
,899
2,096
245
250
276
288
312
650
698
728
772
793
2,641
2,907
3,283
3,352
3,515
76
95
119
150
177
1,580
1,784
1,867
1,927
2,003
1955..
1956..
1957..
1958..
1959..
9,924
10,614
11,103
11,487
12,297
2,635
2,843
2,937
3,156
3,582
367
410
427
471
547
862
893
876
907
958
3,717
3,842
3,953
3,808
3,753
216
260
317
345
393
2,127
2,366
2,593
2,800
3,064
1960.
1961.
1962.
1963.
13,196
14,151
15,130
16,145
3,884
4,413
4,690
5,047
623
723
766
912
941
948
927
895
3,952
3,907
4,252
4,456
436
469
505
520
3,360
3,691
3,990
4,315
1940—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
2,561
2,433
2,442
2,490
2,565
2,589
2,539
2,563
2,582
2,628
2,637
2,824
618
612
608
605
606
608
608
612
618
624
630
636
162
159
156
156
156
156
158
158
160
163
163
164
186
163
166
166
170
167
146
151
177
187
195
251
1,066
958
960
1,001
1,054
1,073
1,046
1,056
1,045
1,082
1,088
1,220
529
541
552
562
579
585
581
586
582
572
561
553
1941—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
2,671
2,552
2,568
2,670
2,792
2,829
2,802
2,859
2,913
2,928
2,897
3,087
636
634
633
641
658
665
663
663
666
675
685
693
165
165
162
165
168
167
166
165
164
161
157
152
200
176
175
188
191
187
166
182
211
216
219
275
1,110
1,001
1,009
1,077
1,157
1,184
1,182
1,224
1,246
1,260
1,230
1,370
560
576
589
599
618
626
625
625
626
616
606
597
For notes see p. 56.
54
End of
month
Total
Charge accounts
Other
DeCom- financial
partmerinstiment1
cial
banks tutions stores
Other
retail Credit
outlets cards*
1942—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept
Oct.
Nov
Dec.
2,955
2,801
2,783
2,817
2,830
2,758
2,656
2,631
2,666
2,716
2,687
2,817
684
678
674
666
653
640
628
621
614
608
604
593
149
145
142
137
135
131
131
129
128
126
124
120
234
207
210
213
197
165
127
127
150
162
167
217
1,282
1,153
1,133
1,170
1,191
1,163
1,117
1,100
1,117
1,166
1,133
1,227
1943—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
2,638
2,543
2,541
2,601
2,636
2,641
2,569
2,537
2,582
2,642
2,657
2,765
582
567
561
560
557
546
528
522
539
554
554
521
118
115
112
111
108
106
103
99
98
96
93
92
166
156
154
156
150
152
127
125
148
162
179
217
1,109
1,023
1,019
1,067
1,090
1,100
1,083
1,066
1,075
1,115
1,116
1,223
1944__jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
2,570
2,457
2,497
2,563
2,672
2,707
2,653
2,649
2,683
2,723
2,764
2,935
499
484
486
502
525
555
556
553
547
552
553
553
90
88
86
86
83
82
80
79
76
75
73
71
163
142
158
157
163
156
134
139
163
180
204
256
1,105
1,006
1,015
1,053
1,102
1,106
1,085
1,082
1,104
1,128
1,140
1,261
1945—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
2,751
2,623
2,691
2,690
2,771
2,825
2,780
2,768
2,776
2,876
2,968
3,203
550
547
547
567
595
626
633
628
618
622
642
674
70
70
70
70
70
71
69
69
69
70
71
72
194
169
193
177
175
177
152
152
171
199
227
290
1,149
1,028
1,062
1,050
1,077
1,091
1,078
1,078
1,082
1,152
1,188
1,322
1946—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
3,086
3,046
3,172
3,331
3,469
3,515
3,482
3,597
3,693
3,812
3,949
4,212
702
730
759
787
808
823
840
864
893
926
964
1,008
76
78
82
85
89
92
96
101
104
107
112
114
217
201
228
252
259
267
239
255
291
315
354
452
1,246
1,160
1,191
1,273
1,333
1,338
1,322
1,388
1,413
1,473
1,515
1,624
1947__jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
4,008
3,894
3,972
4,086
4,251
4,276
4,214
4,225
4,351
4,485
4,579
4,903
1,042
1,061
1,070
1,080
1,098
1,120
1,138
1,152
1,163
1,178
1,192
1,203
117
118
120
123
126
127
124
129
136
146
150
153
353
310
323
329
337
333
294
293
336
365
412
532
1,476
1,351
1,374
1,448
1,538
1,524
1,493
1,485
lr544
l!655
1,821
28
7.
NONINSTALMENT CREDIT, 1919-63 — Continued
[In millions of dollars]
Singlepayment
loans
End of
month
Total
Singlepayment
loans
Charge accounts
Other
DeOther
Com- finanretail Credit
mercial
partcial
instiment1 outlets cards2
banks tutions stores
Service
credit
End of
month
258
267
281
275
367
329
289
301
314
285
334
312
627
544
500
519
517
514
464
462
505
536
596
793
3,160
2,852
2,757
2,930
3,010
3,047
3,050
3,006
3,021
3,104
3,189
3,515
177
1,987
2,019
2,011
2,024
2,010
1,984
1,979
1,963
1,950
1,933
1,944
2,003
8,426
8,151
8,048
8,320
8,491
8,624
8,470
8,545
8,666
8,803
9,078
9,924
2,064
2,108
2,144
2,202
2,244
2,356
2,354
2,396
2,417
2,479
2,552
2,635
301
323
350
314
377
370
309
333
366
331
388
367
648
556
527
547
554
540
494
495
542
587
645
862
3,338
3,009
2,908
3,117
3,205
3,256
3,225
3,249
3,289
3,374
3,434
3,717
216
2,075
2,155
2,119
2,140
2,111
2,102
2,088
2,072
2,052
2,032
2,059
2,127
9,383
8,997
9,076
9,222
9,527
9,617
9,402
9,446
9,609
9,591
9,861
10,614
2,635
2,630
2,688
2,731
2,780
2,814
2,811
2,811
2,833
2,785
2,774
2,843
288
303
361
356
471
426
347
372
406
384
484
410
706
596
579
573
585
573
522
529
586
610
670
893
3,525
3,191
3,152
3,223
3,381
3,504
3,436
3,464
3,505
3,570
3,657
3,842
260
2,229
2,277
2,296
2,339
2,310
2,300
2,286
2,270
2,279
2,242
2,276
2,366
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
10,052
9,703
9,615
9,889
10,174
10,221
10,070
10,150
10,163
10,120
10,280
11,103
2,817
2,828
2,839
2,872
2,934
2,954
2,910
2,903
2,911
2,881
2,877
2,937
388
414
452
432
503
462
418
445
454
411
438
427
723
611
566
592
593
579
533
535
588
612
658
876
3,721
3,369
3,261
3,448
3,618
3,693
3,696
3,757
3,708
3,751
3,800
317
3,953
2,403
2,481
2,497
2,545
2,526
2,533
2,513
2,510
2,502
2,465
2,507
2,593
1,775
1,816
1,834
1,849
1,860
1,874
1,878
1,883
1,889
1,868
1,865
1,867
1958—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
10,588
10,097
9,903
10,096
10,374
10,410
10,248
10,332
10,395
10,449
10,630
11,487
2,909
2,908
2,904
2,926
2,972
3,045
3,022
3,042
3,034
3,054
3,087
3,156
453
464
465
438
480
454
420
456
485
443
All
471
725
601
573
580
584
575
533
546
600
623
669
907
3,544
3,111
2,945
3,108
3,313
3,304
3,242
3,230
3,228
3,329
3,364
3,808
328
312
309
311
307
323
339
360
362
347
337
345
2,629
2,701
2,707
2,733
2,718
2,709
2,692
2,698
2,686
2,653
2,696
2,800
1,857
1,871
1,873
1,898
1,924
1,939
1,944
1,962
1,970
1,943
1,939
1,927
1959—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
11,086
10,764
10,714
10,925
11,219
11,322
11,203
11,244
11,284
11,310
11,503
12,297
3,139
3,189
3,218
3,306
3,356
3,440
3,434
3,461
3,489
3,500
3,514
3,582
442
486
511
483
541
522
493
538
557
512
561
547
757
637
608
601
609
599
558
561
605
646
716
958
3,533
3,163
3,083
3,193
3,387
3,434
3,380
3,325
3,287
3,358
3,363
3,753
358
349
349
351
345
353
382
395
396
374
380
393
2,857
2,940
2,945
2,991
2,981
2,974
2,956
2,964
2,950
2,920
2,969
3,064
1,219
1,229
1,237
1,242
1,252
1,261
1,255
1,254
1,249
1,251
1,254
1,261
148
154
163
162
177
176
168
168
181
174
186
184
416
366
385
387
390
390
339
336
383
421
448
575
1,702
1,528
1,552
1,649
1,732
1,786
1,793
1,783
1,832
1,908
1,930
2,098
49
1,169
1,197
1,219
1,249
1,275
1,287
1,293
1,301
1,304
1,302
1,293
1,284
1954—Jan.
Feb.
Mar.
Apr.
1949—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
5,110
4,847
4,822
4,985
5,074
5,094
4,993
5,002
5,134
5,239
5,354
5,774
1,265
1,260
1,248
1,235
1,235
1,245
1,254
1,262
1,265
1,287
1,308
1,334
177
179
184
184
201
196
184
185
197
192
211
198
450
383
371
389
392
384
336
332
375
393
438
587
1,930
1,720
1,697
1,823
1,874
1,888
1,833
1,838
1,903
1,976
2,013
2,208
59
1,288
1,305
1,322
1,354
1,372
1,381
1,386
1,385
1,394
1,391
1,384
1,388
1955—Jan.
Feb.
Mar.
Apr.
1950—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
5,418
5,177
5,221
5,433
5,664
5,755
5,909
6,038
6,155
6,213
6,307
6,768
1,340
1,346
1,357
1,392
1,422
1,442
1,445
1,448
1,471
1,510
1,551
1,576
186
181
189
184
224
201
224
235
227
260
320
245
459
394
383
394
403
400
380
395
434
448
484
650
2,050
1,851
1,872
1,994
2,115
2,181
2,297
2,392
2,445
2,434
2,392
2,641
76
1,383
1,405
1,420
1,469
1,500
1,531
1,563
1,568
1,578
1,561
1,560
1,580
1956—Jan.
Feb.
Mar.
Apr.
1951—Jan.
Feb.
Mar.
Apr.
6,603
6,418
6,479
6,502
6,653
6,650
6,524
6,542
6,651
6,818
6,986
7,418
7,040
6,836
6,787
6,971
7,186
7,214
7,102
7,123
7,222
7,365
7,506
8,117
1,598
1,622
1,648
1,664
1,673
1,678
1,663
1,661
1,660
1,667
1,672
1,684
228
240
258
259
300
260
261
255
252
264
305
250
556
489
473
457
465
452
407
409
449
481
538
698
2,633
2,437
2,436
2,425
2,491
2,503
2,423
2,447
2,497
2,633
2,705
2,907
95
1,588
1,630
1,664
1,697
1,724
1,757
1,770
1,770
1,793
1,773
1,766
1,784
1957—Jan.
Feb.
Mar.
Apr.
1,717
1,742
1,758
1,769
1,777
1,798
1,791
1,789
1,789
1,796
1,814
1,844
224
245
251
252
296
275
248
251
258
249
312
276
564
490
466
481
485
478
428
432
471
511
549
728
2,760
2,543
2,478
2,620
2,768
2,789
2,757
2,768
2,815
2,941
2,966
3,283
119
7,744
7,351
7,388
7,556
7,750
7,693
7,507
7,548
7,616
7,734
7,763
8,388
1,878
1,887
1,960
1,984
1,985
1,922
1,839
1,888
1,883
1,901
1,839
1,899
293
257
281
291
341
302
271
280
289
277
316
288
586
503
492
487
498
492
458
454
501
525
580
772
3,130
2,833
2,782
2,896
3,002
3,038
2,995
2,964
2,973
3,088
3,089
3,352
150
1953—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
For notes see p. 56.
Service
credit
,880
,841
,845
,883
,918
,977
,991
1,989
2,002
2,074
2,057
2,096
4,654
4,474
4,556
4,689
4,826
4,900
4,848
4,842
4,949
5,056
5,111
5,451
May
Other
DeOther
Com- finanretail Credit
mercial
partcial
instiment1 outlets cards2
banks tutions stores
7,912
7,523
7,394
7,631
7,822
7,851
7,773
7,721
7,792
7,932
8,120
8,896
1948—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
1952—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Total
Charge accounts
55
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
May
7.
NONINSTALMENT CREDIT, 1919-63 — Continued
[In millions of dollars]
Singlepayment
loans
End of
month
Total
Commercial
banks
Singlepayment
loans
Charge accounts
Other
finanDecial
partinstiment
tutions stores1
End of
month
Service
credit
Other
retail
outlets
Credit
cards2
Total
Commercial
banks
Charge accounts
Service
credit
Other
finanDecial
partment
institutions stores1
Other
retail
outlets
Credit
cards2
I960—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
11,807
11,532
11,445
11,889
12,086
12,167
12,034
12,023
12,091
12,138
12,325
13,196
3,543
3,572
3,591
3,675
3,690
3,754
3,747
3,752
3,824
3,813
3,844
3,884
516
574
634
605
696
630
626
649
636
619
634
623
824
685
622
656
646
633
584
584
625
661
709
941
3,408
3,110
3,006
3,289
3,398
3,488
3,397
3,349
3,328
3,406
3,463
3,952
393
385
388
383
391
408
432
457
458
437
433
436
3,123
3,206
3,204
3,281
3,265
3,254
3,248
3,232
3,220
3,202
3,242
3,360
1962—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
13,501
13,105
13,135
13,504
13,835
13,903
13,715
13,817
13,885
13,915
14,151
15,130
4,240
4,294
4,391
4,544
4,614
4,671
4,659
4,653
4,660
4,653
4,669
4,690
684
682
734
671
749
715
692
748
743
702
751
766
804
635
594
620
636
612
569
570
614
638
688
927
3,563
3,185
3,119
3,305
3,496
3,553
3,442
3,483
3,500
3,619
3,696
4,252
479
472
455
450
464
479
500
527
528
511
500
505
3,731
3,837
3,842
3,914
3,876
3,873
3,853
3,836
3,840
3,792
3,847
3,990
1961—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
12,667
12,269
12,258
12,399
12,647
12,726
12,609
12,720
12,815
12,846
13,178
14,151
3,882
3,927
3,925
3,970
4,028
4,090
4,133
4,161
4,221
4,247
4,312
4,413
620
644
683
615
684
648
599
662
695
647
713
723
810
669
637
631
634
624
574
589
623
656
717
948
3,506
3,085
3,079
3,172
3,321
3,380
3,296
3,280
3,260
3,321
3,424
3,907
438
433
425
426
420
436
457
491
483
471
460
469
3,411
3,511
3,509
3,585
3,560
3,548
3,550
3,537
3,533
3,504
3,552
3,691
1963—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
- Oct.
Nov.
Dec.
14,542
14,137
14,074
14,361
14,651
14,680
Ur§9?
14-7-83.
M 820
14^44
1*7051
I£rl4$
4,685
4,713
4,727
4,793
4,836
4,893
4,874
4,879
4,927
4,952
4,987
5,047
745
766
812
769
838
816
809
910
917
878
907
912
775
646
587
603
610
599
555
579
620
639
667
895
3,802
3,376
3,308
3,505
3,699
3,689
3,682
3,713
3,667
3,743
3,817
4,456
494
489
479
473
484
495
523
547
546
516
515
520
4,041
4,147
4,161
4,218
4,184
4,188
4,154
4,154
4,143
4,103
4,158
4,315
1
2
Includes mail-order houses.
Service station and miscellaneous credit-card accounts and home-heating-oil accounts.
56
8. INSTALMENT CREDIT EXTENDED AND REPAID
A. TYPE OF CREDIT: N.S.A., 1940-63
[In millions of dollars]
To tal
Automobile paper
Other consumer
goods paper
Repair and
modernization loans
Personal loans
Period
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
2,588
2,929
2,176
1,985
1,957
2,381
2,827
2,910
2,361
1,985
328
312
142
102
124
255
307
263
227
135
2,217
2,361
1,899
1,738
1,883
2,060
2,284
2,247
1,880
1,846
2,024
3,077
4,498
5,383
5,865
1,999
2,603
3,645
4,625
5,060
206
423
704
714
734
143'
1,443
2,749
4,123
5,430
200
391
579
689
2,150
3,026
3,819
4,271
4,542
2,010
2,539
3,405
3,957
4,335
8,530
8,956
11,764
12,981
11,807
7,011
9,058
10,003
10,879
11,833
7,150
7,485
9,186
9,227
9,117
6,057
7,404
7,892
8,622
9,145
835
841
,217
1,344
,261
717
772
917
1,119
1,255
5,043
6,294
7,347
8,006
8,866
4,660
5,751
6,593
7,336
8,255
33,634
37,054
39,868
40,344
42,603
16,734
15,515
16,465
14,226
17,779
13,082
14,555
15,545
15,415
15,579
10,642
11,721
11,807
11,747
13,982
9,752
10,756
11,569
11,563
12,402
,393
1,582
,674
1,871
2,222
1,316
1,370
1,477
1,626
1,765
10,203
11,051
12,069
12,275
14,070
9,484
10,373
11,276
11,741
12,857
49,560
48,396
55,126
60,822
45,972
47,700
50,620
55,1H
17,654
16,007
19,796
22,013
16,384
16,472
17,478
19,354
14,470
14,578
15,685
17,007
13,574
14,246
14,939
15,846
2,213
2,068
2,051
2,178
1,883
2,015
1,996
2,035
15,223
15,744
17,594
19,624
14,130
14,967
16,206
17,876
1940—Jan..
Feb.,
Mar.
Apr.
May,
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec.
530
533
646
711
756
757
674
684
634
724
732
838
546
542
576
581
593
595
610
608
604
650
635
668
198
210
244
279
301
304
272
247
218
265
270
278
179
180
192
192
201
211
217
220
225
232
230
233
150
143
195
222
233
232
188
220
211
237
251
306
194
188
195
194
196
194
197
199
194
207
211
212
18
16
17
25
26
29
31
36
38
34
30
28
19
18
20
20
21
21
23
21
24
29
18
21
164
164
190
185
196
192
183
181
167
188
181
226
154
156
169
175
175
169
173
168
161
182
176
202
1941_jan..
Feb.
Mar.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
648
664
822
943
988
919
857
844
681
650
631
778
667
632
736
691
731
746
751
758
768
783
755
836
280
274
360
418
437
431
384
325
252
221
203
238
239
227
284
259
270
299
302
287
324
309
296
340
156
184
223
283
304
254
245
279
239
224
234
304
225
210
226
217
236
230
235
247
247
254
245
255
23
22
20
28
29
30
28
33
35
28
18
18
25
22
27
24
26
26
26
26
27
27
27
24
189
184
219
214
218
204
200
207
155
177
176
218
178
173
199
191
199
191
188
198
170
193
187
217
1942—Jan..
Feb.
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
484
449
580
506
437
411
388
400
381
389
363
451
773
718
771
731
707
702
673
674
623
627
565
594
125
102
122
97
90
89
89
93
71
55
48
41
287
270
269
254
239
235
227
230
206
191
166
164
182
177
233
218
183
143
135
149
162
187
176
231
264
242
259
255
256
247
236
232
226
240
223
230
13
12
16
17
14
9
9
9
9
11
10
13
28
25
30
27
27
23
25
22
14
17
11
14
164
158
209
174
150
170
155
149
139
136
129
166
194
181
213
195
185
197
185
190
177
179
165
186
1943_Jan..
Feb.
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
292
302
410
389
364
410
356
369
403
398
413
481
538
509
557
501
477
476
447
428
421
420
417
426
41
46
66
65
66
72
68
73
75
63
63
64
137
124
135
109
98
99
88
80
76
68
67
68
134
136
155
178
160
162
143
148
164
184
196
225
230
207
212
206
205
197
189
180
174
186
189
186
7
6
6
8
9
10
9
9
11
9
10
8
14
24
25
24
21
20
19
19
16
16
16
13
110
114
183
138
129
166
136
139
153
142
144
184
157
154
185
162
153
160
151
149
155
150
145
159
1940
1941
1942
1943
1944
8,219
9,425
5,239
4,587
4,894
7,208
8,854
8,158
5,617
4,854
3,086
3,823
1,022
1945
1946
1947
1948
1949
5,379
8,495
12,713
15,585
18,108
5,093
6,785
10,190
13,284
15,514
999
941
1,969
3,692
5,217
6,967
1950
1951
1952
1953
1954
21,558
23,576
29,514
31,558
31,051
18,445
22,985
25,405
27,956
30,488
1955
1956
1957
1958
1959
38,972
39,868
42,016
40,119
48,052
1960
1961
1962
1963
762
930
2,512
3,436
2,738
1,149
888
57
8.
INSTALMENT CREDIT EXTENDED AND REPAID — Continued
A. TYPE OF CREDIT: N.S.A., 1940-63 — Continued
[In millions of dollars]
Month
Extended
Other consumer
goods paper
Automobile paper
Total
Repaid
Extended
Repaid
Extended
Repair and
modernization loans
Repaid
Extended
Repaid
Personal loans
Extended
1944_Jan...
Feb...
Mar..
Apr..,
May.
June.
July..
Aug..
Sept..
Oct...
Nov..
Dec..
307
323
444
366
419
420
394
410
404
434
448
525
399
384
428
383
409
397
390
406
397
416
417
428
58
60
78
76
91
91
94
89
76
78
71
68
67
63
76
69
77
72
76
81
78
80
76
73
120
123
158
149
163
149
132
154
166
197
205
241
174
167
173
160
166
156
149
156
158
172
176
178
7
7
8
8
9
12
10
13
12
12
12
14
13
11
12
12
12
11
10
11
11
12
9
11
122
133
200
133
156
168
158
154
150
147
160
202
1945—Jan...
Feb..
Mar..
May!
June.
July..
Aug..
Sept..
Oct..,
Nov..
Dec..
355
334
472
393
423
445
408
410
420
525
554
640
415
391
441
405
414
417
407
415
405
452
460
471
66
65
85
73
74
87
85
81
84
97
100
102
78
75
80
74
75
80
78
79
75
86
82
79
137
124
172
146
155
155
137
149
154
210
222
263
174
163
174
161
165
158
153
156
152
175
186
182
11
10
13
15
17
20
17
19
18
22
23
21
10
8
9
14
10
12
12
13
15
12
14
14
141
135
202
159
177
183
169
161
164
196
209
254
1946—Jan...
Feb...
Mar..
Apr..
May.
June.
July..
Aug..
Sept..
Oct...
Nov..
Dec..
495
502
620
672
679
661
696
744
721
825
843
1,037
474
456
518
516
538
534
574
582
584
646
645
718
112
112
133
156
161
152
166
178
179
200
193
227
92
92
103
103
112
114
123
127
132
147
138
160
175
179
214
242
247
231
23$
256
257
308
322
407
191
183
197
202
208
205
215
217
223
245
252
265
20
22
30
33
34
36
37
43
40
46
43
39
12
13
16
16
17
17
17
18
18
20
21
15
188
189
243
241
237
242
254
267
245
271
285
364
1947_Jan...
Feb..
Mar..
Apr..
May.
June.
July..
Aug..
Sept..
Oct..
Nov..
Dec.
806
790
981
1,020
1,040
1,056
1,029
1,003
1,089
1,167
1,239
1,493
687
673
776
779
811
842
870
842
940
955
952
1,063
232
236
290
306
303
306
315
299
324
341
354
386
164
159
191
209
207
220
247
235
270
280
271
296
266
259
329
347
367
369
328
333
390
424
477
609
269
248
283
274
297
305
298
297
332
329
342
371
36
37
43
54
59
62
62
66
75
80
65
65
19
33
26
23
31
28
30
30
36
47
39
49
272
258
319
313
311
319
324
305
300
322
343
433
1948—Jan...
Feb...
Mar..
Apr..
May.
June.
July..
Aug..
Sept..
Oct...
Nov..
Dec.
1,110
1,034
1,360
1,349
1,307
1,363
1,343
1,360
1,390
1,182
1,268
1,519
992
949
1,080
1,050
1,081
1,164
1,137
1,142
1,167
1,134
1,160
1,228
365
348
480
467
417
454
483
499
487
378
408
431
282
273
316
317
324
366
359
380
396
355
368
387
372
336
432
458
472
469
429
444
493
428
452
598
356
354
369
369
390
412
387
379
392
403
403
411
51
48
58
70
70
61
58
62
63
60
62
51
56
41
44
41
45
47
49
52
49
51
51
53
322
302
390
354
348
379
373
355
347
316
346
439
1949—Jan...
Feb..
Mar..
1,066
1,097
1,428
1,480
1,568
1,598
1,484
1,636
1,561
1,633
1,666
1,891
1,170
1,134
1,309
1,249
1,264
1,321
1,274
1,342
1,290
1,347
1,378
1,436
372
389
580
599
634
622
607
682
622
642
634
584
380
361
439
420
432
463
445
486
476
500
511
517
330
366
409
452
501
506
440
487
509
557
558
750
397
399
437
417
426
447
408
425
406
432
430
436
39
38
51
52
62
73
55
82
67
75
77
63
62
58
59
52
51
52
57
60
58
59
61
60
325
304
388
377
371
397
382
385
363
359
397
MPay!
June.
July..
Aug..
Sept..
Oct..
Nov.,
Dec.
58
494
Repaid
8. INSTALMENT CREDIT EXTENDED AND REPAID - Continued
A.
TYPE OF CREDIT:, N.S.A., 1940·63 - Cootinued
[In millions of dollars]
Month
Total
Extended
Automobile paper
Repaid
Extended
Repaid
Other consumer
goods paper
Extended
Repaid
Repair and
modernization loans
Extended
Repaid
Personal loans
Extended
Repaid
1950--Jan.................
Feb.................
Mar...•............
Apr....•............
May ..•.............
June ................
July ................
Aug ................
Sept................
Oct.................
Nov .............. ,.
Dec.................
1,414
1,448
1,159
1,668
1,906
2,023
2,019
2,011
2,030
1,162
1,528
1,864
1,405
1,378
1,540
1,420
1,508
1,521
1,531
1,610
1,623
1,644
1,606
1,653
576
611
142
688
118
815
901
829
800
661
524
545
518
501
591
532
582
591
580
622
641
640
603
604
428
443
534
525
604
589
652
105
140
630
534
166
463
411
481
455
411
412
491
515
543
565
551
555
53
56
48
58
82
86
90
91
80
80
63
48
62
58
63
58
57
61
61
65
55
62
56
53
357
338
435
391
442
473
436
452
410
391
401
505
362
342
399
315
392
403
387
408
384
311
390
441
1951-Jan.................
Feb.............•...
Mar................
Apr.................
May ................
June ................
July ................
Aug ................
Sept...•............
Oct.................
Nov ................
Dec.................
1,614
1,508
1,816
1,130
1,940
1,949
1,860
2,248
2,082
2,221
2,112
2,430
1,153
1,663
1,843
1,191
1,885
1,888
1,928
1,995
1,938
2,167
2,052
2,082
582
541
662
615
197
801
180
951
833
830
168
130
612
615
691
611
738
143
184
835
184
892
815
806
523
502
560
511
556
540
490
665
682
154
145
957
595
590
608
600
613
592
594
641
665
651
649
51
44
57
61
15
11
12
19
16
93
83
19
66
51
58
59
62
10
63
62
60
14
65
16
458
421
537
483
512
531
518
553
491
550
516
664
420
401
480
455
412
483
481
498
441
536
521
551
1952-Jan.................
Feb.................
Mar ..•.............
Apr.............. ".
May ................
June ...•............
July ................
Aug ................
Sept•...............
Oct............... ,.
Nov ................
Dec.................
1,926
1,895
2,111
2,258
2,119
2,844
2,644
2,341
2,451
2,164
2,435
3,126
2,099
1,986
2,109
2,056
2,119
2,090
2,188
2,056
2,111
2,211
2,012
2,302
161
154
806
895
1,171
1,251
1,108
860
951
1,101
989
1,099
858
181
830
803
844
838
892
192
842
869
118
810
561
559
639
686
190
806
119
161
198
910
150
1,135
671
652
615
666
645
611
647
648
650
684
664
613
62
64
11
89
109
116
116
118
124
133
114
101
13
65
13
69
68
14
14
80
81
85
85
90
530
518
595
588
643
671
641
596
518
614
582
191
497
482
531
518
562
561
575
536
538
519
545
669
1953-Jan .................
Feb....•............
Mar................
Apr.................
May ................
June ................
July ................
Aug ................
Sept ................
Oct .................
Nov ................
Dec....•............
2,382
2,252
2,841
2,130
2,706
2,814
2,146
2,561
2,529
2,643
2,464
2,818
2,199
2,118
2,411
2,329
2,241
2,363
2,326
2,308
2,358
2,451
2,313
2,521
I,~
1,221
1,200
1,162
1,162
1,115
1,081
1,045
1,018
935
914
840
802
923
904
859
911
902
918
950
915
912
911
682
605
183
112
118
822
141
123
133
196
164
1,028
111
680
153
148
102
135
691
691
123
153
701
134
91
19
109
109
116
128
126
122
123
129
114
98
96
18
98
89
81
91
98
98
90
101
90
91
603
512
128
649
650
102
104
641
628
651
838
552
558
643
588
593
614
635
601
595
628
610
719
1954-Jan .................
Feb.................
Mar................
Apr.................
May .•..............
June ................
July ................
Aug ................
Sept................
Oct.................
Nov ................
Dec.................
2,035
2,115
2,502
2,514
2,501
2,821
2,685
2,623
2,582
2,601
2,121
3,321
2,402
2,388
2,101
2,467
2,446
2,594
2,528
2,541
2,519
2,529
2,625
2,142
131
161
961
911
919
1,169
1,091
1,056
1,001
912
979
1,118
922
914
1,055
964
936
1,024
919
1,009
989
985
1,021
1,029
608
658
614
110
109
161
134
121
140
806
844
1,146
165
190
833
145
149
162
161
141
736
144
741
112
14
83
101
104
120
108
109
111
120
89
91
114
100
100
101
106
101
106
113
105
116
110
616
613
166
123
699
183
145
129
121
718
190
963
626
587
108
658
660
102
681
685
681
695
135
831
1955-Jan.................
Feb.•....•..........
Mar................
Apr.................
May ................
June ................
July ................
Aug ................
Sept. ...............
Oct.................
Nov ................
Dec............... ,.
2,506
2,580
3,308
3,263
3,346
3,605
3,264
3,558
3,343
3,191
3,250
3,151
2,562
2,488
2,866
2,118
2,133
2,840
2,132
2,922
2,851
2,940
2,961
3,020
999
1,101
1,419
1,418
1,512
1,656
1,501
1,651
1,500
1,344
1,211
1,302
941
934
1,091
1,032
1,054
1,116
1,060
1,112
1,145
1,115
1,192
1,159
103
661
831
854
810
913
836
914
890
911
915
1,285
186
166
840
812
801
808
195
834
814
843
821
826
61
76
99
108
124
129
111
140
138
139
133
123
109
98
118
103
110
109
103
112
110
114
119
111
131
142
899
883
840
901
811
854
814
191
811
1,047
120
690
811
171
168
801
114
804
181
808
824
924
59
600
III
III
640
8.
INSTALMENT CREDIT EXTENDED AND REPAID — Continued
A. TYPE OF CREDIT: N.S.A., 1940-63 — Continued
[In millions of dollars]
Month
Total
Extended
Automobile paper
Repaid
Extended
Repaid
Other consumer
goods paper
Extended
Repaid
1956—Jan..
Feb..
Mar.
Apr..
May.
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec.
2,878
2,919
3,298
3,328
3,466
3,448
3,334
3,530
3,014
3,430
3,431
3,791
2,996
2,882
3,104
3,016
3,122
3,062
3,091
3,163
2,924
3,294
3,183
3,216
1,191
1,233
1,373
1,342
1,405
,388
,335
,389
,152
,287
,222
,195
1,177
,142
,208
,196
,240
,193
,210
,241
,147
,339
,254
,208
1957__jan..
Feb..
Mar.
M^y!
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
3,083
2,946
3,324
3,556
3,729
3,626
3,811
3,656
3,354
3,510
3,387
4,034
3,335
3,043
3,299
3,312
3,356
3,199
3,458
3,348
3,251
3,429
3,315
3,523
,248
,202
,368
,450
,497
1,475
,542
,446
,343
,386
,224
,284
,304
,189
,280
,298
,313
,241
,356
,294
,290
,371
1,272
1,337
1958—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec
3,062
2,717
3,131
3,305
3,342
3,445
3,452
3,350
3,256
3,459
3,308
4,293
3,441
3,153
3,458
3,359
3,322
3,344
3,381
3,262
3,348
3,480
3,233
3,563
,180
,019
,098
,216
,206
,263
,286
,203
,110
1,181
,097
1,368
1,344
,214
,326
,311
,277
,278
,302
,247
,289
,343
,187
,298
1959_jan..
Feb..
Mar.
Apr..
May.
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec,
3,317
3,249
3,783
4,017
4,037
4,396
4,273
4,134
4,074
4,167
3,940
4,666
3,393
3,243
3,566
3,495
3,443
3,620
3,640
3,503
3,552
3,687
3,590
3,870
,242
1,252
1,479
1,579
1,563
1,759
1,700
1,584
1,502
,545
,302
,271
,224
,191
,329
,273
,252
,333
,352
,288
,320
,366
,295
,358
940
884
1,030
1,015
1,106
1,147
1,196
1,143
1,164
1,181
1,248
,248
[,708
I960—Jan..
Feb..
Mar.
Apr..
May.
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec.
3,531
3,688
4,162
4,415
4,290
4,519
4,097
4,326
3,992
3,957
4,019
4,563
3,427
3,190
3,920
3,737
4,224
4,367
3,954
4,294
3,843
4,291
4,312
4,835
3,640
3,644
3,931
3,811
3,821
3,900
3,752
3,944
3,801
3,873
3,883
3,971
,260
,408
,615
,678
,639
1,711
1,454
,555
,354
1,381
,362
1,236
,291
,307
,420
,339
,386
,396
,323
,432
,357
,424
,372
,337
,042
1,106
1,206
[,192
1,281
1,118
L201
1,206
1,229
1,238
1,675
3,915
3,660
4,126
3,784
4,063
4,064
3,901
4,079
3,864
4,131
4,071
4,041
,138
1,054
1,334
1,251
1,466
1,533
1,390
1,422
1,186
,481
1,433
1,320
,372
1,266
1,436
1,304
1,410
1,403
,377
1,414
1,345
1,462
,375
,307
1961—Jan..
Feb..
Mar.
Apr.,
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec
60
777
764
851
927
982
979
932
1,019
907
1,088
1,124
1,369
831
768
862
910
1,042
1,002
1,028
1,027
944
995
1,028
1,370
794
714
910
878
1,001
968
959
966
974
1,084
1,061
1,438
975
1,018
886
1,104
1,073
1,218
1,232
1,129
1,256
1,231
1,312
1,323
1,795
Repair and
modernization loans
Extended
Repaid
893
851
904
868
898
882
893
909
868
947
924
920
94
104
120
131
153
140
139
150
139
156
140
116
121
1,016
105
110
123
133
161
144
157
165
153
156
139
128
120
114
116
119
126
116
132
122
128
127
122
133
125
111
129
148
166
167
167
172
183
183
165
154
131
126
135
137
127
142
141
129
143
145
132
139
1,039
1,036
1,007
1,033
1,028
,005
,039
,077
,043
,091
124
131
166
181
205
206
209
212
207
204
195
179
139
129
144
147
145
151
151
154
148
154
154
147
,124
,100
,164
,134
,128
,149
1,084
,137
,119
1,140
,143
1,153
136
159
177
190
217
213
194
219
192
186
176
154
144
148
159
150
154
163
[,191
1,115
1,239
1,164
1,206
1,198
1,142
1,200
[,162
1,225
1,203
[,200
129
127
162
165
201
196
174
210
188
188
180
148
918
977
938
964
924
986
1,000
940
981
964
961
1,003
946
1,011
944
976
948
954
924
945
995
949
967
974
no
113
113
114
110
119
118
106
123
115
110
Personal loans
Extended
816
817
953
928
926
940
927
973
815
898
945
1,110
899
866
971
1,062
1,030
1,004
,084
,018
Repaid
806
779
879
839
870
878
869
894
804
887
891
978
894
822
926
956
952
917
985
914
973
996
932
894
950
956
1,252
1,092
962
873
993
986
963
867
986
967
942
976
983
962
971
998
965
1,333
1,159
,010
1,000
1,062
970
1,048
1,040
1,008
990
1,010
982
949
1,122
1,150
1,121
1,235
1,220
1,174
1,184
,170
,195
,507
1,054
1,038
1,040
1,104
1,109
1,056
1,045
1,090
1,097
1,274
166
157
165
162
158
,092
,146
,264
1,340
1,242
1,314
1,331
1.351
i;240
1,162
1,244
1,497
1,081
,089
1,188
1,189
1,153
1,192
1,188
1.210
166
152
170
159
172
174
165
174
169
183
169
161
1,144
1,124
1,320
1,247
1,340
1,407
1,261
1,407
1,238
1,311
1,376
1,572
158
i;i67
1,144
1,206
1,322
1,186
1,127
1,281
1,157
1,275
1,288
1,217
1291
1,188
1,260
1.325
1,373
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
A. TYPE OF CREDIT: N.S.A., 1940-63 — Continued
[In millions of dollars]
Month
Total
Extended
Automobile paper
Repaid
Extended
Repaid
Other consumer
goods paper
Extended
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
3,837
3,606
4,340
4,711
4,923
4,910
4,706
4,851
4,107
4,871
4,915
5,351
4,176
3,815
4,244
4,075
4,296
4,193
4,272
4,320
3,983
4,489
4,389
4,368
1,359
1,325
1,630
1,753
1,860
1,835
1,783
1,760
1,328
1,848
1,737
1,579
1,454
,296
,448
1,382
,495
,431
,492
,512
1,374
,627
,514
,454
1,079
969
1,133
1,282
1,343
1,355
1,251
1,316
1,250
1,370
1,454
1,884
1963—Jan..
Feb.
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
4,385
4,083
4,702
5,332
5,294
5,222
5,365
5,242
4,755
5,487
4,981
5,974
4,499
4,151
4,479
4,601
4,616
4,399
4,778
4,610
4,563
4,948
4,543
4,924
1,624
1,537
1,787
2,072
2,067
1,967
2,055
1,839
1,524
2,040
1,734
1,767
,582
1,441
,535
,626
,649
,525
1,698
1,613
1,618
1,794
1,598
,675
1,188
1,039
1,238
1,355
1,386
1,410
1,393
1,456
1,384
1,547
1,517
2,094
1962—Jan..
Feb.
Mar.
61
Repaid
•
Repair and
modernization loans
Extended
Repaid
Personal loans
Extended
Repaid
,255
1,194
,281
1,217
1,266
1,239
1,243
,253
1,196
,284
,271
,239
123
118
157
172
211
197
193
207
169
188
170
145
166
154
170
165
174
169
172
174
157
177
162
158
1,276
1,194
1,420
1,504
1,509
1,523
1,479
1,568
1,359
1,465
1,553
1,743
1,301
1.171
1,345
1,311
1,361
1,354
1,365
1,382
1,256
1,401
1,442
1,517
,340
1,242
,339
,307
,311
,260
,356
,308
,289
,404
,316
,374
132
126
160
195
218
199
214
213
193
205
169
154
167
152
168
172
173
163
179
172
173
182
162
172
1,441
1,381
1,517
1,710
1,623
1,646
1,703
,734
,654
,695
,561
,959
1,410
1,316
1,437
1,496
1,483
1,451
1,545
1,517
1,483
1,568
1,467
1,703
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
B.
TYPE OF CREDIT: S.A., 1940-63
[In millions of dollars]
Automobile paper
Total
Other consumer
goods paper
Repair and
modernization loans
Personal loans
lVfonth
Extended
1940_Jan
Feb
Mar
Apr
May
June
July
Aug
Sent
Oct
Nov
Dec
1941—Jan
Feb
Mar
Apr
May
June
July
. .
. .
Aue
Sept
Oct
Nov
Dec
1942—Jan
Feb
Mar
Apr
May
June
July
.
...
AUK
Sept
Oct
Nov..
Dec .
1943
Jan
Feb
Mar
Apr
May
June
July
AUK
Sept
. .
. .
Oct
Nov
Dec
1944—Jan
Feb
Mar
Apr .
May
June
July
AUB
SeDt . .
Oct
Nov
Dec ..
..
1945—j a n
Feb
Mar
Apr
May
June
July
AUK
..
Sept ..
Oct
Nov
Dec
Repaid
Extended
Repaid
Repaid
Extended
Repaid
Extended
Repaid
637
628
637
653
673
700
667
663
702
740
746
773
552
558
561
586
588
595
608
596
629
642
636
657
239
251
239
245
250
248
235
227
249
290
296
317
184
189
190
199
204
207
211
215
221
228
231
233
200
184
208
205
210
239
216
223
224
221
229
229
187
189
192
196
194
197
200
196
203
205
208
214
20
18
20
25
26
27
31
34
36
32
30
29
19
17
20
20
21
21
23
21
24
29
18
22
178
175
170
178
187
186
185
179
193
197
191
198
162
163
159
171
169
170
174
164
181
180
179
188
784
817
805
874
887
848
840
849
709
661
662
689
671
674
717
699
722
748
748
763
767
767
783
795
348
348
357
379
373
362
335
308
265
242
237
269
246
247
280
268
273
294
294
286
308
302
309
329
202
238
234
260
276
262
276
296
243
206
216
220
216
218
223
220
230
236
240
252
251
247
248
246
27
26
23
26
28
28
27
31
33
27
18
18
25
22
27
24
26
26
25
26
27
27
27
25
207
205
191
209
210
196
202
214
168
186
191
182
184
187
187
187
193
192
189
199
181
191
199
195
575
543
554
478
424
384
395
407
391
374
361
353
772
766
749
737
720
686
670
680
626
610
582
560
151
126
117
88
80
73
77
86
70
57
53
44
293
292
262
260
249
224
219
228
196
184
172
159
227
224
242
201
176
145
155
158
163
164
159
162
252
251
258
257
255
249
241
240
232
233
224
218
14
14
18
17
14
8
8
8
8
10
10
13
29
25
30
27
27
23
24
22
14
17
11
14
183
179
177
172
154
158
155
155
150
143
139
134
198
198
199
193
189
190
186
190
184
176
175
169
362
372
369
376
366
396
372
384
416
397
394
383
554
539
518
502
487
470
447
439
432
423
410
396
50
56
61
61
62
62
60
69
74
68
69
70
144
133
126
111
102
95
84
79
74
68
67
66
174
175
153
168
160
168
167
161
167
167
168
157
227
214
201
206
206
200
194
191
182
185
181
174
8
7
7
8
9
9
9
8
10
9
10
8
15
24
25
23
21
20
19
19
16
16
16
13
130
134
148
139
135
157
136
146
165
153
147
148
168
168
166
162
158
155
150
150
160
154
146
143
376
380
400
371
410
408
422
417
418
433
426
433
409
393
398
397
404
395
404
405
407
420
411
411
68
70
72
74
83
82
86
83
75
84
77
76
70
64
72
73
77
70
76
78
76
80
77
75
154
152
156
149
161
157
160
165
172
179
176
176
172
166
164
165
162
160
159
162
165
171
168
171
9
8
9
8
9
11
10
12
11
11
11
15
13
11
12
12
12
11
10
11
11
12
9
11
145
150
163
140
157
158
166
157
160
159
162
166
154
152
150
147
153
154
159
154
155
157
157
154
418
403
433
402
415
432
436
421
452
506
529
532
412
416
410
417
411
415
422
416
428
441
452
453
74
74
79
71
68
78
79
76
86
97
106
111
78
80
77
76
75
78
78
77
75
83
83
81
169
159
172
149
154
162
165
161
165
186
191
191
167
169
164
165
163
161
164.
162
164
168
176
176
13
12
14
15
16
19
17
18
18
20
22
22
10
8
9
14
10
12
12
13
15
12
14
14
162
158
168
167
177
173
175
166
183
203
210
208
157
159
160
162
163
164
168
164
174
178
179
182
For note see p. 65.
Extended
62
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
B.
TYPE OF CREDIT: S.A., 1940-63 — Continued
[In millions of dollars]
Automobile paper
Total
Other consumer
goods paper
Repair and
modernization loans
Person.il loans
Month
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
1946—Jan
Feb
Mar ...
Apr
May.
June
July
Aue
Sept
Oct....
Nov
Dec..
572
604
599
658
660
662
708
755
770
804
813
890
473
486
505
515
531
546
571
582
612
631
637
123
129
125
144
149
145
153
169
184
200
203
245
93
98
102
104
111
115
118
123
133
142
139
165
213
227
224
241
242
245
270
275
273
281
284
302
185
189
194
201
204
212
221
224
236
237
243
257
24
27
32
32
33
34
36
40
39
42
42
42
12
13
17
15
17
18
17
17
19
19
21
15
212
221
218
241
236
238
249
271
274
281
284
301
183
186
192
195
199
201
215
218
224
233
234
259
1947 Jan..
Feb
Mar
Apr
May
June
July
Aug
Sept....
Oct
Nov
Dec
918
945
964
997
,000
1,052
1,031
,034
,098
,145
1,264
,265
688
718
761
779
795
852
862
869
942
932
987
1,005
255
271
272
283
281
294
290
290
319
343
390
404
166
172
190
211
205
221
239
236
260
269
287
293
321
326
352
350
357
385
362
362
390
394
453
446
263
254
280
275
286
308
305
316
337
320
346
355
43
45
46
54
57
58
62
63
70
73
65
68
19
33
27
23
30
29
30
30
36
45
40
49
299
303
294
310
305
315
317
319
319
335
356
347
240
259
264
270
274
294
288
287
309
298
314
308
1948—Jan
Feb
Mar
Apr.
May
June
July
Aug
Sept.....
Oct
Nov
Dec
1,256
[,233
1,308
1,319
1,302
1,304
1,336
,370
381
1568
1,263
1,305
995
1,012
1,032
J 053
,104
135
,124
,172
[,171
[,144
I 164
1,178
409
405
441
436
405
422
450
477
475
396
438
463
286
297
305
321
335
355
349
380
385
351
373
386
438
417
450
464
474
467
466
470
478
413
417
429
348
361
356
371
392
400
393
401
398
405
399
401
60
57
61
70
69
55
57
57
58
55
61
54
55
41
44
41
46
48
48
52
50
50
51
53
349
354
356
349
354
360
363
366
370
344
347
359
306
313
327
320
331
332
334
339
338
338
341
338
1949__jan
Feb
Mar
Apr
May
June
July
1.262
[,321
1,393
1,466
1,548
1,513
1 506
1,550
I 532
1,668
1,692
1 657
1,209
1,207
1,246
1,247
>88
1,290
I 303
1,320
I 292
1,344
1,388
1,380
437
459
545
570
606
571
578
615
598
668
684
636
396
396
421
424
443
449
449
466
461
491
520
514
414
457
434
469
506
507
489
484
487
541
530
547
400
403
419
416
429
437
427
432
411
429
429
428
49
49
56
53
61
65
56
73
62
67
76
67
62
59
58
52
53
52
58
58
59
58
61
59
362
356
358
374
375
370
383
378
385
392
402
407
351
349
348
355
363
352
369
364
361
366
378
379
1 674
1,748
1,726
1 731
1,788
1,885
2,086
1948
1,983
1 773
1,543
1 673
[ 443
1,461
1,463
1 466
1,477
1,493
1,556
1,575
[,619
[ 629
1,613
1,650
685
731
708
690
702
790
847
741
772
678
562
624
536
552
565
557
572
574
583
594
621
624
611
622
527
550
564
572
583
581
715
685
703
598
506
566
465
473
464
465
464
466
518
518
544
559
555
566
67
73
53
61
77
76
89
80
73
71
62
53
61
60
62
60
58
60
68
62
57
60
56
53
395
394
401
408
426
438
435
442
435
426
413
430
381
376
372
384
383
393
387
401
397
386
391
409
1,853
1 830
1,797
1,815
1 819
1,807
1 846
2,112
2 144
2 155
2,207
2,191
1,739
I 764
1,739
1,856
1,858
1.855
1967
1,962
2 019
2,081
2,064
2,081
668
647
643
684
710
713
724
855
841
814
827
830
670
669
664
715
729
724
791
802
796
842
827
829
631
634
597
565
546
540
535
645
682
686
715
709
577
592
573
608
604
591
622
608
674
639
648
668
63
58
63
65
70
63
70
69
72
80
81
87
63
60
56
62
64
69
64
60
63
70
65
76
491
491
494
501
493
491
517
543
549
575
584
565
429
443
446
471
461
471
490
492
486
530
524
508
...
Sept
Oct
Nov
Dec
1950—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct .
Nov
Dec
1951—Jan
Feb ..
Mar
Apr
May
June
July
Aug
Sept
Oct ....
Nov
Dec ..
..
....
For note see p. 65.
63
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
B. TYPE OF CREDIT: S.A., 1940-63 — Continued
[In millions of dollars]
Extended
1952—Jan
Feb
Mar
Apr
May
June
July
Aug..
Sent
Oct
Nov
Dec
Automobile paper
Total
Month
. .
1953—Jan
Feb
Mar
Apr
May
July
Sept
Oct
Nov
Dec
1954—Jan
Feb
Mar
May
June
July
Aug
Sent
Oct
Nov
Dec
1955—Jan
Feb
Mar
Apr
May
June
July
AUE
Sept
Oct
Nov
Dec
1956—Jan
Feb
Mar
Apr .
May
June
July
'.
Sept .
Oct
Nov
Dec
1957—Jan
Feb .
Mar
Apr
May
June
July
Aue
SeDt
Oct .
Nov
Dec
.
.
Repaid
Extended
Repaid
793
829
824
818
778
783
831
753
675
658
666
692
107
115
116
116
80
82
81
88
823
674
108
87
616
621
643
617
842
792
684
115
93
645
865
903
916
882
893
887
917
937
929
947
961
757
848
807
795
795
758
736
726
728
754
731
687
721
727
717
736
696
715
733
735
733
738
104
122
111
109
115
116
112
111
112
114
103
84
96
91
91
95
98
99
90
97
91
94
653
693
644
655
651
687
661
670
667
687
693
967
986
990
975
963
994
971
725
843
709
744
724
738
753
744
748
776
796
760
798
766
758
763
766
762
752
754
759
99
109
107
105
113
98
100
107
109
100
110
780
104
90
104
104
103
104
105
102
106
113
104
112
688
694
702
711
707
731
733
756
768
776
797
858
779
840
888
887
788
781
797
1,016
1,073
1,188
1,014
1,012
2,940
3,076
3,260
3,232
3,275
3,310
3,247
3,346
3,403
3,245
3,254
3,263
2,618
2,658
2,689
2,712
2,789
2,785
2,802
2,857
2,892
2,955
2,955
2,909
1,169
1,290
1,426
1,373
1,441
1,459
1,418
1,492
1,515
1,376
1,329
1,363
978
1,006
1,036
1,041
1,074
1,091
1,080
1,131
1,142
1,152
1,189
1,148
3,289
3,358
3,300
3,385
3,290
3,236
3,283
3,346
3,268
3,321
3,450
3,397
2,977
2,970
2,963
3,083
3,072
3,056
3,129
3,105
3,156
3,146
3,182
3,225
1,348
1,390
1,351
1,321
1,297
1,250
1,243
1,265
1,248
1,251
1,278
1,299
1,178
1,188
1,161
1,231
1,221
1,190
1,212
1,204
1,221
1,243
1,253
1,248
3,454
3,523
3,492
3,412
3,529
3,532
3,579
3,513
3,519
3,447
3,486
3,504
3,282
3,262
3272
3,249
3,299
3,314
3,357
3,332
3,375
3,330
3,352
3,453
1,406
1,405
1,391
1,366
1,377
1,377
1,378
1,342
1,403
1,357
1,342
1,316
1,299
1,286
1,277
1,279
1,289
1,286
1,303
1,275
1,312
1,305
1,285
1,348
897
899
902
937
905
1,001
992
998
999
862
1,004
980
977
For note see p. 65.
-*o
568
574
569
587
625
649
621
2,474
2,532
2,517
2,469
2,496
2,546
2,516
2,581
2,555
2 547
2,617
2,638
974
Extended
67
72
71
70
75
74
2,409
2^45
2,420
2,497
2,449
2,568
2,578
2,605
2,624
2,668
2,776
2,912
998
1,049
1,020
1,034
1,062
1,054
Repaid
79
82
82
93
102
108
109
2,177
2,251
2,341
2,324
2,293
2,323
2,302
2,350
2,382
2,379
2,405
2,429
1,164
1,177
1,220
1,161
1,068
Extended
651
633
652
652
638
646
655
2,716
2,691
2,883
2,723
2,627
2,559
2,610
2,529
2,541
2,569
2,609
2,501
814
937
Repaid
Personal loans
679
682
706
734
782
826
809
2,089
2,033
2,059
2,057
2,096
2,143
2,163
2,100
2,133
2,144
2,168
2,220
1,090
1,114
1,194
Extended
Repair and
modernization loans
860
822'
820
815
837
850
873
2,210
2,203
2,168
2,289
2,561
2,717
2,533
2,315
2,456
2,680
2,600
2,782
884
865
811
875
1,052
1,134
994
Other consumer
goods paper
64
817
508
511
515
519
551
572
561
552
564
573
570
597
558
615
621
590
603
599
621
619
622
618
634
636
657
644
657
664
671
684
677
709
710
712
732
108
803
90
108
823
753
101
107
111
105
112
105
845
839
861
759
760
769
738
871
880
817
805
112
117
114
108
784
781
826
829
826
854
830
831
110
122
126
127
125
134
851
854
899
897
892
881
927
910
105
108
110
112
117
111
820
835
870
861
873
856
791
789
814
837
819
819
938
941
898
869
841
850
882
883
888
123
132
131
137
134
130
116
112
109
116
113
110
880
895
920
920
910
906
814
829
843
854
855
868
1 007
'949
950
987
1 002
921
903
131
131
120
115
922
948
876
883
929
918
930
134
137
133
960
130
112
114
112
114
928
920
952
894
871
887
944
967
139
117
965
899
989
982
907
946
954
919
947
964
976
143
139
134
139
140
144
147
122
117
118
126
122
127
122
986
980
908
924
933
937
942
951
935
958
1 013
1*087
1,020
1
1
1
1
in
657
Repaid
005
009
019
017
984
938
990
1,002
1 000
986
957
141
141
129
121
977
986
134
140
135
124
948
1
1
1
1
1
005
008
006
038
007
991
1 011
1 020
1,046
903
948
947
966
984
8.
INSTALMENT CREDIT EXTENDED AND REPAID — Continued
B.
TYPE OF CREDIT: S.A., 1940-63 — Continued
[In millions of dollars]
Month
Total
Extended
Automobile paper
Repaid
Extended
Repaid
Other consumer
goods paper
Extended
Repaid
1958—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
3.442
3,249
3,225
3.233
3,219
3,253
3,295
3,346
3,288
3,390
3,490
3,643
3,388
3,383
3,392
3,345
3,320
3,353
3.329
3,378
3,347
3,362
3,409
3,367
1,341
1,191
1,095
LJ62
1,131
1,135
1,173
1,165
1,131
1,159
1,208
1,402
1,342
1,313
1,304
1,316
1,279
1,276
1,272
1,278
1,266
1,263
1,257
1,273
905
916
992
905
976
955
949
994
972
1,021
1,062
1,002
1959—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
3,758
3,905
3,815
3,949
4,025
3,988
4,098
4,064
4,195
4,143
4,018
3,999
3,379
3,477
3,454
3,480
3,574
3,501
3,574
3,575
3,612
3,621
3,665
3,711
1,413
1,463
1,448
1,507
1,516
,522
,549
,507
,581
,538
,370
,332
1,233
1,290
1,287
1,276
1,300
1,283
1,313
1,297
1,324
1,303
[,321
1,355
1,083
1,153
1,080
1,167
1,162
1,138
[,158
[,190
[,184
1,186
1,226
1,224
I960—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
4,147
4,185
4,183
4,330
4,148
4,176
4,174
4,076
4,160
3,991
4,025
3,967
3,765
3,700
3,754
3,858
3,837
3,851
3,889
3,840
3,875
3,891
3,877
3,864
1,471
1,548
1,565
1,596
1,519
1,504
1,416
1,446
,476
,358
,432
,315
1,351
1,335
,356
,365
,384
,378
1,359
1,376
1,367
1,386
1,381
1,356
,249
,206
,193
,245
,190
,233
,192
,169
1,205
1,207
1,171
1,214
1961—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.,
Sept.
Oct..
Nov.
Dec..
3,879
3,840
3,928
3,770
3,917
4,012
3,960
4,095
4,052
4,233
4,268
4,404
3,909
3,914
3,922
3,944
3,914
3,987
3,952
4,011
3,987
4,064
4,047
4,072
1,280
1,226
1,280
1,219
,293
1,343
1,326
1,348
1,330
1,410
1,480
1,470
1,376
1,368
1,367
1,370
1,352
1,379
1,376
1,377
1,375
1,389
1,378
1,377
1,181
1,167
1,187
1,135
1,170
1,169
1,189
1,227
1,233
1,270
1,244
1,380
,166
,149
,169
,198
,165
,187
,177
,199
,187
1,221
,201
,234
1962—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.,
Sept.
Oct..
Nov.
Dec.
4,278
4,357
4,418
4,604
4,644
4,579
4,640
4,651
4,543
4,639
4,855
4,826
4,092
4,097
4,106
4,119
4,224
4,190
4,266
4,263
4,293
4,271
4,372
4,341
1,511
1,553
1,592
1,645
1,667
1,638
1,671
1,691
1,566
1,700
1,776
1,739
1,436
1,408
1,405
1,397
1,460
1,435
1,464
1,480
1,467
1,494
1,523
1,509
1,229
1,279
1,238
1,335
1,314
1,299
1,309
1,292
1,306
1,280
1,364
1,415
1963—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.,
Sept.
Oct..
Nov.
Dec.
4,899
4,957
4,973
5,008
4,985
5,054
5,100
5,100
5,093
5,311
4,979
5,272
4,414
4,462
4,496
4,487
4,544
4,568
4,591
4,619
4,752
4,780
4,596
4,812
1,807
1,809
1,811
1,870
1,847
[,820
1,854
1,802
1,730
1,910
1,792
1,914
1,564
1,566
1,546
1,585
1,611
1,588
1,603
1,607
1,659
1,676
1,638
1,707
1,360
1,395
1,406
1,359
1,357
1,408
1,409
1,441
1,425
1,457
1,432
1,523
NOTE—Includes adjustments for differences in trading days.
65
Repair and
modernization loans
Extended
Repaid
Personal loans
Extended
Repaid
166
145
145
149
146
156
155
158
163
164
164
162
127
134
137
137
128
142
1,030
138
132
138
137
138
136
1,007
1,018
1,029
1,022
1,046
1,056
1,077
965
960
972
959
944
963
967
1,004
988
995
1,014
1,007
164
170
181
182
188
185
195
191
188
187
190
194
139
139
143
149
151
146
148
156
147
149
157
148
1,098
1,119
1,106
1,093
1,159
1,143
1,196
1,176
1,242
1,232
1,232
1,249
1,020
1,050
1,023
1,029
1,084
1,050
1,087
1,082
1,083
1,110
1,106
1,131
183
197
189
151
151
154
153
153
161
160
159
155
161
165
163
1,244
1,234
1,236
1,297
1,246
1,246
1,379
1,274
1,302
1,250
1,252
1,266
1,144
1,130
1,140
1,205
1,159
1,165
1,233
1,173
1,215
1,190
1,190
1,198
170
165
172
171
170
176
164
182
176
177
174
171
168
164
162
166
167
170
1,248
1,282
1,289
1,245
1,284
1,324
1,281
1,338
1,313
1,376
1,370
1,383
1,199
1,233
1,224
1,210
1,230
1,251
1,234
1,268
1,256
1,280
1,299
1,291
,195
,238
1,220
1,232
1,248
1,246
1,271
1,258
1,276
1,238
1,268
1,262
160
157
170
170
182
179
177
179
165
169
167
164
166
167
167
166
171
168
169
168
164
163
165
166
1,378
1,368
1,418
1,454
1,481
1,463
1,483
1,489
1,506
1,490
1,548
1,508
1,295
1,284
1,314
1,324
1,345
1,341
1,362
1,357
1,386
1,376
1,416
1,404
1,277
1,289
1,324
1,276
1,294
1,317
1,330
1,326
1,347
1,362
1,324
1,384
172
169
180
187
167
165
170
170
170
167
171
170
174
170
167
177
1,560
1,584
1,576
1,592
1,593
1,640
1,646
1,672
1,757
1,756
1,587
1,663
1,406
1,442
1,456
1,456
1,469
1,496
1,487
1,516
1,572
1,572
1,467
1,544
954
976
979
933
969
972
952
964
955
967
1,000
951
987
998
1,001
1,026
1,039
,022
,026
,040
,058
: ,059
,081
,077
,119
: ,084
,104
,135
,141
,147
,137
,132
,138
,154
,141
,147
• 192
193
193
187
187
177
176
170
172
188
186
191
185
181
188
168
172
165
167
169
174
169
170
997
993
1,017
966
8.
INSTALMENT CREDIT EXTENDED AND REPAID — Continued
C.
HOLDER: N.S.A., 1940-63
[In millions of dollars]
Sales finance
companies
Commercial
banks
Total
Other financial
institutions
Retail
outlets
Period
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
1940
1941
1942
1943
1944
8,219
9,425
5,239
4,587
4,894
7,208
8,854
8,158
5,617
4,854
2,092
2,526
1,324
983
1,130
1,719
2,252
2,188
1,313
1,088
2,259
2,681
742
466
573
1,881
2,459
1,951
802
563
1,609
1,738
1,353
1,331
1,414
1,507
1,672
1,584
1,428
1,393
2,259
2,480
1,820
1,807
1,777
2,101
2,471
2,435
2,074
1,810
1945
1946
1947
1948
1949
5,379
8,495
12,713
15,585
18,108
5,093
6,785
10,190
13,284
15,514
1,403
2,778
4,546
5,714
6,543
1,232
1,956
3,488
4,810
5,633
652
1,249
2,345
3,217
4,296
614
872
1,667
2,561
3,363
1,570
2,065
2,582
2,938
3,305
1,489
1,805
2,298
2,633
3,011
1,754
2,403
3,240
3,716
3,964
1,758
2,152
2,737
3,280
3,507
1950
1951
1952
1953
1954
21,558
23,576
29,514
31,558
31,051
18,445
22,985
25,405
27,956
30,488
8,135
8,358
11,123
12,099
11,267
6,776
8,385
9,370
10,625
11,469
5,098
5,467
6,982
7,560
7,260
4,331
5,524
5,925
6,344
7,043
3,826
4,788
5,659
6,375
6,983
3,404
4,385
5,012
5,683
6,511
4,499
4,963
5,750
5,524
5,541
3,934
4,691
5,098
5,304
5,465
38,972
39,868
42,016
40,119
48,052
33,634
37,054
39,868
40,344
42,603
14,109
14,463
15,355
14,860
17,976
12,304
13,362
14,360
14,647
15,560
10,206
9,619
10,250
9,043
11,196
7,903
8,949
9,759
9,842
9,742
8,376
9,148
9,915
9,654
10,940
7,536
8,415
9,250
9,365
10,020
6,281
6,638
6,495
6,563
7,940
5,891
6,328
6,499
6,490
7,281
49,560
48,396
55,126
60,822
45,972
47,700
50,620
55,111
18,269
17,711
20,474
22,871
16,832
18,294
18,468
20,266
11,456
10,667
11 999
12,664
10,442
10,943
11 434
12,211
12 073
12,282
13 525
14,894
11,022
11,715
12,593
13,618
7,762
7,736
9,128
10,393
7,676
6,749
8,125
9,016
530
533
646
711
756
757
674
684
634
724
732
838
546
542
576
581
593
595
610
608
604
650
635
668
157
146
159
180
198
217
162
185
163
173
183
169
123
129
132
140
141
141
147
148
146
158
154
160
137
144
177
205
214
213
211
189
162
200
195
212
137
134
144
145
153
160
166
165
170
178
160
169
111
113
139
133
141
140
133
131
124
135
134
175
109
110
126
124
126
124
126
122
119
133
135
153
125
130
171
193
203
187
168
179
185
216
220
282
177
169
174
172
173
170
171
173
169
181
186
186
648
664
822
943
988
919
857
844
681
650
631
778
667
632
736
691
731
746
751
758
768
783
755
836
196
193
214
246
260
253
237
218
199
166
162
182
166
157
191
172
183
189
190
192
196
203
196
217
188
197
248
291
313
299
270
242
166
162
144
161
171
169
197
189
202
217
217
214
229
218
205
231
126
124
156
161
158
154
153
150
121
133
134
168
129
121
145
139
141
138
140
142
128
142
141
166
138
150
204
245
257
213
197
234
195
189
191
267
201
185
203
191
205
202
204
210
215
220
213
222
484
449
580
506
437
411
388
400
381
389
363
451
773
718
771
731
707
702
673
674
623
627
565
594
130
126
152
132
119
115
107
107
94
86
75
81
206
195
199
198
196
186
186
184
173
168
150
147
97
77
95
75
67
62
59
53
46
40
35
36
205
193
207
189
173
173
162
161
137
130
108
113
112
109
144
121
105
117
110
106
102
100
99
128
136
125
148
134
128
137
130
133
125
128
119
141
145
137
189
178
146
117
112
134
139
163
154
206
226
205
217
210
210
206
195
196
188
201
188
193
292
302
410
389
364
410
356
369
403
398
413
481
538
509
557
501
477
476
447
428
All
420
417
426
71
64
91
81
81
94
83
81
89
81
80
87
134
131
138
124
110
116
104
96
97
91
85
87
25
27
39
41
41
45
40
44
45
39
40
40
93
88
95
80
71
70
58
57
53
46
48
43
82
89
139
105
97
128
104
105
116
109
111
146
115
114
140
121
118
123
117
114
115
115
111
125
114
122
141
162
145
143
129
139
153
169
182
208
196
176
184
176
178
167
168
161
156
168
173
1955
1956
1957
1958
1959....
I960
1961
1962
1963
. .,
. ..
...
1940-—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec....
1941—Jan
Feb
Mar...
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
1942—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
1943—Jan
Feb
Mar
Apr
May
June
July
SeDt....
Oct
Nov
Dec
. ..
...
. .
...
. .
. :
66
171
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
C.
HOLDER: N.S.A., 1940-63 — Continued
[In millions of dollars]
Other financial
institutions
Sales finance
companies
Commercial
banks
Total
Retail
outlets
Month
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
307
323
444
366
419
420
394
410
404
434
448
525
399
384
428
383
409
397
390
406
397
416
417
428
77
74
101
85
101
105
98
98
93
95
96
107
86
87
93
85
94
89
90
94
93
92
93
92
35
38
46
42
54
56
57
54
48
50
48
45
45
43
47
42
49
48
45
49
49
50
48
48
92
100
149
101
117
124
118
117
111
111
119
155
109
107
128
110
117
118
118
120
110
115
116
125
103
111
148
138
147
135
121
141
152
178
185
218
159
147
160
146
149
142
137
143
145
159
160
163
355
334
472
393
423
445
408
410
420
525
554
640
415
391
441
405
414
417
407
415
405
452
460
471
101
89
117
104
115
120
110
111
108
134
143
151
97
96
99
99
102
102
100
110
97
107
109
114
41
40
51
48
50
57
55
54
58
65
67
66
50
46
51
49
49
51
51
49
54
54
55
55
99
97
148
116
127
133
123
117
119
145
153
193
112
106
134
117
122
125
119
120
121
135
134
144
114
108
156
125
131
135
120
128
135
181
191
230
156
143
157
140
141
139
137
136
133
156
162
158
1946—Jan
Feb .
Mar
Apr
M a y ....
June
July.
Aug
Sept... .
Oct
Nov
Dec
495
502
620
672
679
661
696
744
721
825
843
1 037
474
456
518
516
538
534
574
582
584
646
645
718
161
159
190
216
230
220
243
255
246
280
272
306
120
123
131
143
155
149
173
172
181
203
195
211
70
68
85
95
97
97
106
111
115
129
124
152
60
55
68
62
66
72
75
75
75
86
79
99
128
131
166
164
160
164
172
180
165
184
198
253
128
123
148
139
142
142
152
155
150
160
170
196
136
144
179
197
192
180
175
198
195
232
249
326
166
155
171
172
175
171
174
180
178
197
201
212
1947—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept..
Oct
Nov..
Dec
806
790
981
1 020
1,040
1 056
1 029
1 003
1*089
1,167
1 239
1,493
687
673
776
779
811
842
870
842
940
955
952
1 063
311
291
347
366
379
399
388
368
393
415
414
475
221
223
246
264
270
296
312
296
330
338
328
364
134
143
176
187
190
195
201
195
209
225
230
260
97
95
115
120
128
134
149
144
163
166
163
193
177
168
212
210
211
213
216
205
202
220
242
306
160
159
193
182
187
194
191
187
202
202
205
236
184
188
246
257
260
249
224
235
285
307
353
452
209
196
222
213
226
218
218
215
245
249
256
270
1 110
1 034
1 360
l'349
1 307
1 363
1 343
1 360
1,390
1,182
1,268
1,519
992
949
080
050
081
164
'137
142
,167
134
,160
,228
449
391
499
517
476
522
511
500
501
430
445
473
358
346
387
384
392
427
417
409
425
410
419
436
232
213
291
286
278
273
288
299
309
227
250
271
167
166
196
187
206
235
226
237
250
222
230
239
211
204
261
239
242
258
254
247
243
218
245
316
200
189
228
213
213
228
223
223
216
215
225
260
218
226
309
307
311
310
290
314
337
307
328
459
267
248
269
266
270
274
271
273
276
287
286
293
1,066
1,097
1,428
1,480
1,568
1,598
1,484
1,636
1,561
1,633
1,666
1,891
,170
,134
,309
,249
,264
,321
,274
,342
,290
,347
1,378
[ 436
428
384
521
532
576
599
548
604
571
600
582
598
421
413
472
449
454
485
467
494
477
492
503
506
220
239
345
351
393
389
377
429
387
393
401
372
230
226
269
249
266
285
279
302
297
309
326
325
215
211
275
277
271
284
285
283
263
263
299
379
223
216
259
254
248
252
252
256
238
250
259
304
203
263
287
320
328
326
274
320
340
377
384
542
296
279
309
297
296
299
276
290
278
296
290
301
1944—Jan
Feb
Mar.
Apr
May
June
July
Aug
Sent . . .
Oct
Nov
Dec
1945 Jan
Feb
Mar
Apr
May
June
July
Aug
Sent
Oct
Nov
Dec
. .
. .
1948—j a n
Feb..
Mar
Apr
M a y . ...
June
July
AUK
Sept
Oct
Nov
Dec
1949 Jan..
Feb
Mar
Apr.
May
June.
July
...
AUK
Sept
Oct .
Nov
Dec
. .
. .
67
8.
INSTALMENT CREDIT EXTENDED AND REPAID — Continued
C.
HOLDER: N.S.A., 1940-63 — Continued
[In millions of dollars]
Sales finance
companies
Commercial
banks
Total
Other financial
institutions
Retail
outlets
Month
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
1,414
1.448
1,759
1,668
1,906
2,023
2,079
2,077
2,030
1,762
1,528
1,864
1,405
1,378
1,540
1,420
508
1,527
1,531
1,610
1 623
1,644
[,606
1,653
564
550
658
620
738
784
807
817
812
671
533
581
500
516
543
521
549
553
585
603
600
621
594
591
340
363
441
414
467
522
532
496
475
398
323
327
324
315
376
327
362
360
341
381
383
404
385
373
261
250
319
299
336
361
337
343
309
301
314
396
257
247
289
270
284
305
280
294
290
265
286
337
249
285
341
335
365
356
403
421
434
392
358
560
324
300
332
302
313
309
325
332
350
354
341
352
1,614
1,508
1,816
1 730
1,940
1,949
1,860
2,248
2,082
2^227
2.172
2,430
1,753
[,663
1,843
[,791
,885
1,888
,928
.995
1,938
2,167
2,052
2,082
630
556
664
654
715
695
674
777
722
792
734
745
537
527
S60
558
599
584
716
718
748
777
727
734
361
317
387
396
472
490
478
592
509
512
484
469
413
379
429
417
451
448
478
505
468
542
497
497
315
311
396
354
398
403
402
431
381
421
448
528
312
299
358
340
356
370
364
390
336
422
402
436
308
324
369
326
355
361
306
448
470
502
506
688
391
358
396
376
379
386
370
382
386
426
426
415
1,926
1,895
2,111
2,258
2,719
2,844
2,644
2,341
2,764
2,435
3,126
2,099
1,986
2,109
2,056
2,119
2,090
2,188
2,056
2,111
2,217
2,072
2,302
763
726
805
864
1,013
1,073
1,021
905
945
1,038
915
1,055
765
726
767
773
768
758
531
760
793
J25
763
341
458
438
465
518
674
747
664
508
564
668
594
684
521
477
501
483
494
493
506
471
491
512
455
521
380
388
436
454
510
523
498
460
449
482
460
619
375
365
403
392
430
430
431
406
410
439
419
512
325
343
405
422
522
501
461
468
493
576
466
768
438
418
438
408
427
409
420
419
417
441
435
428
1953—Jan
Feb
Mar
Apr
May .
June
July
Aug
Sept
Oct
Nov
Dec
2,382
2,252
2,847
2,730
2,706
2,814
2746
2,567
2,529
2,643
2,464
2,878
2,199
2,118
2,417
2,329
2,241
2,363
2,326
2,308
2,358
2,457
2,313
2,527
985
913
1,165
1,128
1,069
1,082
1,065
972
944
976
868
932
844
781
903
901
864
898
897
884
906
936
871
940
571
568
680
671
642
683
681
642
622
645
577
578
478
475
549
543
486
539
506
534
550
571
533
580
455
442
575
518
524
560
567
509
511
518
526
670
411
431
494
446
459
478
490
460
463
497
479
575
371
329
427
413
471
489
433
444
452
504
493
698
466
431
471
439
432
448
433
430
439
453
430
432
1954—j ani ...
Feb
Mar
Apr
May.
June
July
AUK
2,035
2,115
2,502
2^14
2,507
2,827
2,685
2,623
2,582
2,607
2,727
3,327
2,402
2,388
2,707
2,467
2,446
2,594
2,528
2,541
2,519
2,529
2,625
2,742
832
784
968
938
927
1,035
971
957
930
919
941
1,065
916
943
1 009
'930
920
981
965
962
947
927
972
997
428
443
552
570
581
714
695
658
632
620
634
733
516
532
638
568
550
612
576
599
599
600
621
632
456
475
582
571
566
615
578
577
581
575
637
770
489
467
553
518
521
553
536
536
553
586
662
319
413
400
435
433
463
441
431
439
493
515
759
481
446
507
451
455
448
451
443
437
449
446
451
2,506
2,580
3,308
3,263
3,346
3,605
3,264
3,558
3,343
3,191
3,250
3,757
2,562
2,488
2,866
2,718
2,733
2,840
2,732
2,922
2,851
2,940
2,961
3,020
973
975
1,224
1.204
,237
,337
,187
,291
,222
146
,142
,171
940
921
1 050
1 013
1 013
1 036
1,025
1 075
1,045
1 062
1,065
1,059
592
656
869
841
906
997
932
1,028
925
829
792
839
556
562
663
605
627
675
617
716
698
728
737
717
559
585
720
705
692
750
666
714
683
682
730
890
568
537
642
614
609
640
614
637
619
646
658
752
382
364
495
513
511
521
480
525
513
534
586
857
498
468
511
486
484
489
476
494
488
504
501
492
1950
Jan
Feb
Mar . .
Apr
May..
June
July
Aug
Sent .
Oct
Nov .
Dec
1951—Jan
Feb
Mar
Apr . .
May
June
July
Aug
Sept
Oct
Nov
Dec
1952—Jan
Feb
Mar
Apr.. .
May
June.
July
A u g '.
Sept
Oct
Nov
Dec..,
SeDt
Oct
Nov . . .
Dec
1955
Jan . ..
Feb
Mar
Apr
May
June
July
AUK.
Sept
Oct
Nov
Dec
2J451
68
537
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
C.
HOLDER: N.S.A., 1940-63 —Continued
[In millions of dollars]
Commercial
banks
Total
Sales finance
companies
Other financial
institutions
Retail
outlets
Month
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
1956—Jan..
Feb..
Mar.
Apr.
May
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec.
2,878
2,919
3,298
3,328
3,466
3,448
3,334
3,530
3,014
3,430
3,431
3,791
2,996
2,882
3,104
3,016
3,122
3,062
3,091
3,163
2,924
3,294
3,183
3,216
1,096
1,083
1,197
1,298
1,271
1,297
1,242
1,247
1,087
1,267
1,165
1,213
1,082
1,039
1,074
1,095
1,117
1,097
1,148
1,164
1,074
1,197
1,124
1,151
705
718
823
770
843
848
820
873
723
822
887
786
712
694
756
721
111
724
736
768
686
836
781
758
646
682
785
747
778
781
767
817
682
753
805
905
658
627
711
681
697
704
705
725
653
719
735
800
431
436
493
513
574
521
505
593
522
588
575
887
545
522
562
519
531
538
502
506
511
542
543
507
1957__j an ..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
3,083
2,946
3,324
3,556
3,729
3,626
3,811
3,656
3,354
3,510
3,387
4,034
3,335
3,043
3,299
3,312
3,356
3,199
3,458
3,348
3,251
3,429
3,315
3,523
1,216
1,119
1,228
1,361
1,373
1,345
1,398
1,334
1,254
1,317
1,163
1,247
1,206
1,090
1,149
1,196
1,208
1,158
1,256
1,231
1,201
1,238
1,185
1,242
789
693
824
858
889
907
1,029
907
834
865
783
872
810
734
810
800
816
782
849
817
799
878
803
860
709
716
808
858
865
826
896
857
753
801
823
1,003
734
675
764
775
789
744
807
770
730
779
791
892
369
418
464
479
602
548
488
558
513
526
618
912
585
544
576
540
543
515
546
530
521
535
535
529
1958—Jan..
Feb..
Mar.
. Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
3,062
2,717
3,131
3,305
3,342
3,445
3,452
3,350
3,256
3,459
3,308
4,293
3,441
3,153
3,458
3,359
3,322
3,344
3,381
3,262
3,348
3,480
3,233
3,563
1,194
1,030
1,154
1,308
1,252
1,302
1,345
1,261
1,221
1,267
1,166
1,360
1,248
1,160
1,242
1,225
1,219
1,238
1,245
1,203
1,221
1,255
1,151
1,240
726
655
735
769
751
791
866
769
671
752
697
860
832
764
850
849
820
805
844
801
828
858
763
827
741
679
774
814
775
816
817
805
776
806
794
1,058
786
694
798
771
754
781
785
756
766
795
757
922
402
354
468
414
564
536
423
515
587
634
651
1,015
575
535
568
514
529
519
507
503
532
572
562
574
1959—Jan..
Feb..
Mar.
3,317
3,249
3,783
4,017
4,037
4,396
4,273
4,134
4,074
4,167
3,940
4,666
3,393
3,243
3,566
3,495
3,443
3,620
3,640
3,503
3,552
3,687
3,590
3,870
1,345
1,249
1,590
1,549
1,658
1,650
1,571
1,519
1,529
1,385
1,475
1,208
1,175
1,287
1,278
1,253
1,318
1,358
1,314
1,321
1,352
1,317
1,379
760
730
897
944
951
1,088
1,079
987
987
998
864
912
769
739
839
803
785
824
831
783
818
867
811
874
737
760
871
871
894
978
948
919
908
918
954
1,182
794
734
823
807
819
867
858
816
812
847
850
993
474
511
559
612
643
673
596
657
660
722
736
1,097
622
595
618
607
586
612
593
589
601
622
612
624
M^y!
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
3,531
3,688
4,162
4,415
4,290
4,519
4,097
4,326
3,992
3,957
4,019
4,563
3,640
3,644
3,931
3,811
3,821
3,900
3,752
3,944
3,801
3,873
3,883
3,971
1,392
1,444
1,565
1,661
1,647
1,693
1,494
1,599
1,470
1,450
1,437
1,416
1,350
1,356
1,424
1,368
1,424
1,434
1,375
1,454
1,393
1,446
1,410
1,397
822
881
995
1,019
1,005
1,076
963
1,036
935
918
905
902
794
804
903
870
854
866
836
913
886
911
903
903
826
901
1,009
1,047
1,012
1,057
1,089
1,086
958
919
991
1,178
841
847
922
921
897
936
932
951
903
888
940
1,044
491
463
593
687
626
693
551
605
629
670
687
1,067
655
637
682
653
645
664
609
627
618
628
631
627
1961—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
3,427
3,190
3,920
3,737
4,224
4,367
3,954
4,294
3,843
4,291
4,312
4,835
3,915
3,660
4,126
3,784
4,063
4,064
3,901
4,079
3,864
4,131
4,071
4,041
1,350
1,217
1,465
1,435
1,608
1,603
1,510
1,590
1,403
1,571
1,491
1,469
1,460
1,471
1,602
1,511
1,600
1,569
1,529
1,563
1,490
1,575
1,488
1,435
765
683
844
815
909
995
878
944
822
970
941
1,101
872
800
970
866
934
938
891
951
879
986
929
928
845
855
1,026
932
1,064
1,119
990
1,101
959
1,033
1,118
1,241
916
871
1,006
900
994
1,019
956
1,004
933
986
1,046
1,084
467
436
585
555
644
651
576
659
659
718
762
1,024
668
519
548
507
535
538
525
561
562
584
608
594
M*ay!
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
1960—Jan..
Feb..
Mar.
M56
69
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
C. HOLDER: N.S.A., 1940-63 — Continued
[In millions of dollars]
Month
Commercial
banks
Total
Extended
Repaid
Extended
Sales finance
companies
Repaid
Extended
Repaid
Other financial
institutions
Extended
Repaid
Retail
outlets
Extended
Repaid
1962—Jan..
Feb.
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
3,837
3,606
4,340
4,711
4,923
4,910
4,706
4,851
4,107
4,871
4,915
5,351
4,176
3,815
4,244
4,075
4,296
4,193
4,272
4,320
3,983
4,489
4,389
4,368
1,498
1,418
1,648
1,816
1,881
1,862
1,805
1,791
1,504
1,828
1,721
1,704
1,542
1,415
1,553
1,503
1,561
1,524
1,578
1,582
1,472
,639
,554
1,545
884
788
937
1,008
1,059
1,081
1,069
1,068
863
1,108
1,070
1,064
911
895
1,015
941
978
951
957
954
872
1,035
944
981
938
910
1,112
1,147
1,196
1,190
1,145
1,222
1,010
1,120
1,219
1,316
1,028
912
1,048
1,035
1,073
1,057
1,056
1,066
963
1,079
1,120
1,156
517
490
643
740
787
777
687
770
730
815
905
1,267
695
593
628
596
684
661
681
718
676
736
771
686
1963—Jan..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
4,385
4,083
4,702
5,332
5,294
5,222
5,365
5,242
4,755
5,487
4,981
5,974
4,499
4,151
4,479
4,601
4,616
4,399
4,778
4,610
4,563
4,948
4,543
4,924
1,754
1,614
1,840
2,133
2,074
2,010
2,066
1,920
1,744
2,061
1,766
1,889
1,630
1,487
1,646
1,701
1,727
1,637
1,794
1,693
1,700
1,815
1,671
,765
978
845
957
1,094
1,107
1,076
1,159
1,094
955
1,194
1,013
1,192
966
957
1,053
1,048
1,030
966
1,045
995
997
1,129
959
1,066
1,044
,019
,151
1,283
,276
,268
,307
,328
,218
,311
,213
,476
1,089
998
1,089
1,143
1,126
1,101
[,188
1,157
1,117
1,197
1,122
1,291
609
605
754
822
837
868
833
900
838
921
989
1,417
814
709
691
709
733
695
751
765
749
80,7
791
802
70
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
D.
HOLDER: S.A., 1940-63
[In millions of dollars]
Commercial
banks
Total
Sales finance
companies
Other financia
I
institutions
Retail
outlets
Month
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
1940—Jan..
Feb..
Mar.
Apr.
May.
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec.
637
628
637
653
673
700
667
663
702
740
746
773
552
558
561
586
588
595
608
596
629
642
636
657
165
160
159
167
172
190
159
179
172
186
195
188
124
131
129
141
139
142
146
144
151
154
155
163
170
170
174
180
179
179
183
175
193
215
213
228
143
140
143
148
152
154
161
159
169
177
165
170
127
127
125
129
138
136
134
129
140
140
136
148
117
118
119
122
125
125
126
120
132
132
134
137
175
171
179
177
184
195
191
180
197
199
202
209
168
169
170
175
172
174
175
173
177
179
182
187
1941—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
784
817
805
874
887
848
840
849
709
661
662
689
671
674
717
699
722
748
748
763
767
767
783
795
212
222
209
229
227
223
230
219
201
179
180
195
166
165
187
173
180
191
187
193
193
199
204
214
239
249
248
264
269
255
235
231
184
173
164
170
178
183
194
194
201
210
212
211
220
214
218
224
146
144
138
157
156
148
153
154
128
138
140
136
137
134
137
137
140
139
140
143
135
140
146
144
187
202
210
224
235
222
222
245
196
171
178
188
190
192
199
195
201
208
209
216
219
214
215
213
1942—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
575
543
554
478
424
384
395
407
391
374
361
353
772
766
749
737
720
686
670
680
626
610
582
560
135
144
144
125
111
101
104
108
97
91
83
81
206
205
195
198
198
182
182
185
171
164
157
145
117
92
94
70
60
51
51
48
47
40
38
34
211
209
203
192
178
162
157
159
131
127
114
108
130
127
123
120
111
110
110
109
108
103
102
100
142
139
138
134
132
133
130
133
130
126
123
124
193
180
193
163
142
122
130
142
139
140
138
138
213
213
213
213
212
209
201
203
194
193
188
183
1943—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
362
372
369
376
366
396
372
384
416
397
394
383
554
539
518
502
487
470
447
439
432
423
410
396
77
74
80
77
77
84
81
83
91
87
86
86
139
136
130
122
112
113
102
97
97
93
87
85
29
33
36
39
39
39
35
43
47
42
41
98
94
89
81
73
66
56
57
52
47
48
41
100
106
115
107
103
122
105
109
124
116
110
114
125
126
126
122
122
120
116
115
119
117
110
110
156
159
138
153
147
151
151
149
154
152
155
142
192
183
173
177
180
171
173
170
164
166
165
160
1944—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
376
380
400
371
410
408
422
417
418
433
426
433
409
393
398
397
404
395
404
405
407
420
411
411
85
81
90
85
93
95
98
98
96
101
101
107
89
87
88
88
91
87
91
91
93
95
94
94
41
45
42
41
50
50
53
51
49
53
51
47
46
44
44
44
49
46
45
48
48
51
50
48
111
115
123
107
120
119
124
119
118
118
117
123
118
115
115
114
117
116
121
118
114
117
115
113
139
139
145
138
147
144
147
149
155
161
157
156
156
147
151
151
147
146
147
148
152
157
152
156
1945—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
418
403
433
402
415
432
436
421
452
506
529
532
412
417
410
417
411
415
422
416
428
441
452
452
106
103
106
103
106
110
109
111
117
134
148
150
95
100
95
101
99
101
101
108
100
106
110
116
47
47
48
48
47
51
52
52
59
63
70
68
50
50
48
50
49
49
51
48
55
52
56
56
117
114
126
123
129
128
128
120
133
150
150
152
118
118
120
122
122
123
123
118
129
134
133
129
148
139
153
128
133
143
147
138
143
159
161
162
149
149
147
144
141
142
147
142
144
149
153
151
For note see p. 74.
71
43
8.
INSTALMENT CREDIT EXTENDED AND REPAID — Continued
D. HOLDER: S.A., 1940-63 — Continued
[In millions of dollars]
Month
Commercial
banks
Total
Extended
Repaid
Extended
Repaid
Extended
Retail
outlets
Other financial
institutions
Sales finance
companies
Repaid
Extended
Repaid
Extended
1946—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
572
604
599
658
660
662
708
755
770
804
813
890
473
486
505
515
531
546
571
582
612
631
637
696
167
186
184
205
213
208
234
252
264
279
280
306
120
129
133
140
151
152
167
167
186
199
197
215
78
78
82
91
91
94
99
107
117
127
127
158
60
59
67
64
65
71
73
73
77
83
80
100
149
154
150
166
162
164
171
183
184
190
193
199
134
136
139
140
141
144
151
155
159
160
168
178
178
186
183
196
194
196
204
213
205
208
213
227
1947—Jan..
Feb..
Mar.
Apr.,
May.
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec..
918
945
964
997
1,000
1,052
,031
,034
,098
,145
,264
1,265
688
718
761
779
795
852
862
869
942
932
987
1,005
320
340
340
350
351
379
372
371
397
413
448
465
222
235
248
263
262
297
300
302
326
330
346
357
150
166
170
178
178
190
188
192
202
222
249
260
99
103
114
122
126
133
146
146
159
160
172
187
201
197
199
210
210
213
212
214
216
229
245
236
167
176
183
181
186
196
190
192
207
202
212
206
247
242
255
259
261
270
259
257
283
281
322
304
1948—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
1,256
,233
,308
,319
,302
,304
,336
,370
,381
1,208
,263
,305
995
1,012
1,032
1,053
1,104
1,135
1,124
1,172
1,171
1,144
1,164
1,178
465
461
480
498
461
480
489
495
500
445
467
473
359
363
379
385
401
414
400
418
421
414
425
431
264
251
272
273
271
255
269
288
296
236
264
278
173
182
186
191
210
226
221
238
247
220
232
235
236
237
243
237
246
248
248
255
260
235
242
251
209
209
212
211
219
222
223
228
222
224
225
229
291
284
313
311
324
321
330
332
325
292
290
303
1949—Jan..
Feb..
Mar.
N&y!
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec..
,262
,321
,393
,466
,548
,513
,506
,550
,532
,668
,692
,657
1,209
1,207
1,246
1,247
1,288
,290
,303
,320
,292
,344
,388
,380
464
455
504
515
555
549
542
566
561
615
615
602
437
434
458
447
465
472
466
484
471
490
510
499
264
289
330
342
377
356
357
384
366
407
428
396
244
247
255
254
269
276
285
290
292
303
328
320
247
245
260
277
274
269
285
281
280
285
298
304
239
237
242
251
253
245
260
253
246
258
260
267
287
332
299
332
342
339
322
319
325
361
351
355
1950—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
,674
,748
,726
,731
,788
,885
2,086
,948
1,983
,773
,543
,673
,443
,461
1,463
,466
1,477
1,493
,556
,575
1,619
1,629
1,613
1,650
616
655
635
629
680
716
792
764
796
677
563
612
515
539
524
534
538
539
583
587
593
616
601
607
415
445
433
426
424
468
493
436
449
405
340
364
342
344
357
346
353
350
346
363
374
391
385
380
297
290
301
308
324
340
336
337
329
325
314
325
273
269
271
276
278
297
286
291
300
272
286
305
346
358
357
368
360
361
465
411
409
366
326
372
1951—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
,853
,830
,797
,815
,819
,807
,846
2,112
2,144
2,155
2,207
2,191
1,739
1,764
1,739
1,856
1,858
1,855
1,967
1,962
2,019
2,081
2,064
2,081
660
657
638
666
655
633
656
724
739
767
779
784
631
655
632
675
688
674
716
703
770
746
740
755
424
392
387
413
428
432
441
523
510
499
509
509
419
413
404
441
446
437
489
486
479
506
499
505
351
362
374
367
383
376
399
426
425
439
448
438
325
327
335
352
347
359
372
388
364
419
403
394
418
419
398
369
353
366
350
439
470
450
471
460
For note see p. 74.
72
8.
INSTALMENT CREDIT EXTENDED AND REPAID — Continued
D.
HOLDER: S.A., 1940-63 — Continued
[In millions of dollars]
Sales finance
companies
Commercial
banks
Total
Other financial
institutions
Retail
outlets
Month
Extended
Repaid
Extended
Repaid
Extended
Repaid
Dec
759
738
759
763
758
781
804
774
791
799
810
834
543
519
485
522
616
679
588
472
551
649
651
707
531
498
489
490
493
501
505
471
487
480
474
506
424
430
428
457
495
508
482
475
479
500
478
503
389
385
393
395
421
435
427
419
430
436
434
448
434
433
455
462
517
519
500
479
481
517
454
499
410
412
418
409
424
426
427
436
425
429
450
432
Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
2,716
2,691
2,883
2,723
2,627
2,559
2,610
2,529
2,541
2,569
2,609
2,501
2,177
2,251
2,341
2,324
2,293
2,323
2,302
2,350
2,382
2,379
2,405
2,429
1,045
1,059
1,144
1,096
1,023
976
1,004
960
948
956
959
929
834
828
887
885
882
886
870
897
905
910
915
926
680
693
703
669
604
584
596
592
607
624
629
579
490
513
530
550
507
523
509
534
544
537
549
558
504
504
561
516
524
523
554
525
539
535
545
545
421
471
479
449
465
467
485
475
484
490
494
503
487
435
475
442
476
476
456
452
447
454
476
448
432
439
445
440
439
447
438
444
449
442
447
442
2,409
2,545
2,420
2,497
2,449
2,568
2,578
2,605
2,624
2,668
2,776
2,912
2,474
2,532
2,517
2,469
2,496
2,546
2,516
2,581
2,555
2,547
2,617
2,638
910
907
896
903
889
929
925
950
944
955
997
1,062
944
998
948
918
936
964
942
971
951
939
976
982
539
542
544
568
555
614
621
611
625
635
671
735
556
573
589
577
575
593
586
596
593
588
608
609
525
539
549
564
567
578
570
599
612
612
635
633
516
508
520
522
528
541
533
557
560
563
581
582
435
557
431
462
438
447
462
445
443
466
473
482
458
453
460
452
457
448
455
457
451
457
452
465
2,940
3,076
3,260
3,232
3,275
3,310
3,247
3,346
3,403
3,245
3,254
3,263
2,618
2,658
2,689
2,712
2,789
2,785
2,802
2,857
2,892
2,955
2,955
2,909
1.058
180
,151
198
213
,158
] 708
,242
171
,191
183
962
986
[ 000
996
I 030
1,015
1,035
[,037
1,052
I 064
[ 074
1*054
710
796
859
839
876
875
864
918
927
838
813
833
584
608
616
614
643
663
638
690
699
710
732
693
648
666
685
700
693
710
673
696
723
726
718
724
594
588
604
617
619
619
629
629
644
669
651
661
524
487
536
542
508
512
552
524
511
510
532
523
478
476
469
485
497
488
500
501
497
512
498
501
3,289
3,358
3,300
3,385
3,290
3,236
3,283
3,346
3,268
3,321
3,450
3,397
2,977
2,970
2,963
3,083
3,072
3,056
3,129
3,105
3,156
3,146
3,182
3,225
,207
186
,267
,190
704
,192
,177
180
.227
1,216
1,267
I 067
1,074
,043
1,104
1,095
I 099
1 141
1,128
I 155
1,137
,138
,193
814
841
833
783
793
765
750
782
779
788
915
801
722
726
722
745
769
725
748
744
734
771
776
763
727
745
766
754
756
755
762
794
764
761
797
764
664
663
683
695
684
695
712
720
724
708
728
735
589
565
515
581
551
512
579
593
545
545
522
565
524
507
515
539
524
537
528
513
543
530
540
534
3,454
3,523
3,492
3,412
3,529
3,532
3,579
3,513
3,519
3,447
3,486
3,504
3,282
3,262
3,272
3,249
3,299
3,314
3,357
3,332
3,375
3,330
3,352
3,453
1.281
793
.265
763
,279
793
,785
,283
306
,300
1,255
1,251
182
1,170
,161
,158
,180
202
,194
,213
231
,205
I 216
1,254
899
842
863
834
837
853
902
830
863
834
843
842
821
800
799
790
807
816
828
805
816
822
810
846
793
816
817
834
835
827
857
842
811
823
827
834
738
742
762
761
776
761
783
776
775
779
795
801
481
572
547
481
578
559
535
558
539
490
561
577
541
550
550
540
536
535
552
538
553
524
531
552
..
.
....
Jan
Feb
Mar
Apr
May
1955_jan
Feb
Mar
Apr
May
June
July
Aue
Sept
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
July
. ..
Sept
Oct
Nov
Dec
1957
Extended
809
821
800
848
933
1,011
963
889
945
1,014
1,017
1,073
July
Aug
SeDt
Oct
Nov
Dec
1956
Repaid
2,089
2,033
2,059
2,057
2,096
2,143
2,163
2,100
2,133
2,144
2,168
2,220
July
Aug
SeDt
Oct
Nov
1954
Extended
2,210
2,203
2,168
2,289
2,561
2,717
2,533
2,315
2,456
2,680
2,600
2,782
1952 Jan
Feb
Mar
Apr .
May
1953
Repaid
Jan
Feb
Mar
Apr
May
June
July
AUE
SeDt
Oct
Nov
Dec
. ..
J77
For note see p. 74.
73
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
D.
Month
1958—Jan..
Feb.
Mar.
Sales finance
companies
Commercial
banks
Total
Extended
HOLDER: S.A., 1940-63 — Continued
[In millions of dollars]
Repaid
Extended
Repaid
Extended
Other financial
institutions
Repaid
Extended
Repaid
Retail
outlets
Extended
Repaid
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
3,442
3,249
3,225
3,233
3,219
3,253
3,295
3,346
3,288
3,390
3,490
3,643
3,388
3,383
3,392
3,345
3,320
3,353
3,329
3,378
3,347
3,362
3,409
3,367
1,270
1,190
1,175
1,232
1,189
1,203
1,258
1,260
1,224
1,249
1,291
1,349
1,226
1,242
1,234
1,211
1,215
1,235
1,204
1,237
1,208
1,206
1,238
1,213
825
795
758
762
729
721
777
736
668
728
758
815
843
833
826
851
828
808
837
821
815
801
802
782
826
779
774
802
758
785
798
814
803
823
825
854
787
767
787
769
755
770
775
790
781
796
788
800
521
485
518
437
543
544
462
536
593
590
616
625
532
541
545
514
522
540
513
530
543
559
581
572
1959—Jan..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
3,758
3,905
3,815
3,949
4,025
3,988
4,098
4,064
4,195
4,143
4,018
3,999
3,379
3,477
3,454
3,480
3,574
3,501
3,574
3,575
3,612
3,621
3,665
3,711
1,442
1,444
1,450
1,494
1,518
1,472
1,542
1,540
1,563
1,534
1,473
1,490
1,202
1,252
1,257
1,265
1,298
1,265
1,311
1,328
1,331
1,321
1,360
1,376
867
886
909
931
958
952
968
927
1,009
983
897
875
795
808
799
802
823
799
819
790
822
825
818
843
833
867
858
857
905
907
928
913
958
955
956
977
807
812
802
806
850
825
845
837
846
867
853
876
616
708
598
667
644
657
660
684
665
671
692
657
575
605
596
607
603
612
599
620
613
608
634
616
I960—Jan..
Feb.
Mar.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
4,147
4,185
4,183
4,330
4,148
4,176
4,174
4,076
4,160
3,991
4,025
3,967
3,765
3,700
3,754
3,858
3,837
3,851
3,889
3,840
3,875
3,891
3,877
3,864
1,534
1,579
1,543
1,568
1,544
1,542
1,483
1,493
1,534
1,469
1,527
1,458
1,401
1,357
1,369
1,383
1,413
1,408
1,409
1,393
1,406
1,446
1,433
1,425
954
1,005
997
1,010
973
964
928
954
979
901
92*
868
850
831
846
880
859
861
869
882
895
884
906
886
982
982
989
1,034
994
993
1,117
1,018
1,018
981
969
992
885
886
888
936
898
915
966
927
942
926
926
940
677
619
654
718
637
677
646
611
629
640
606
649
629
626
651
659
667
667
645
638
632
635
612
613
1961—Jan..
Feb.
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.,
3,879
3,840
3,928
3,770
3,917
4,012
3,960
4,095
4,052
4,233
4,268
4,404
3,909
3,914
3,922
3,944
3,914
3,987
3,952
4,011
3,987
4,064
4,047
4,072
1,428
1,406
1,438
1,397
1,440
1,450
1,464
1,511
1,491
1,550
1,568
1,575
1,447
1,556
1,533
1,578
1,522
1,535
1,523
1,521
1,523
1,536
1,507
1,518
845
835
848
835
843
891
839
885
872
925
945
1,084
900
868
897
900
899
926
907
936
906
937
932
943
969
985
1,000
950
1,000
1,041
1,002
1,039
1,033
1,078
1,086
1,087
925
957
965
938
963
988
972
989
987
1,006
1,024
1,015
637
614
642
588
634
630
655
660
656
680
669
658
637
533
527
528
530
538
550
565
571
585
584
596
1962—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.,
Sept.
Oct..
Nov.
Dec.
4,278
4,357
4,418
4,604
4,644
4,579
4,640
4,651
4,543
4,639
4,855
4,826
4,092
4,097
4,106
4,119
4,224
4,190
4,266
4,263
4,293
4,271
4,372
4,341
1,574
1,647
1,641
1,700
1,715
1,713
1,724
1,715
1,680
1,741
1,802
1,803
1,504
1,511
1,514
1,509
1,518
1,522
1,544
1,551
1,571
1,542
1,582
1,610
965
964
961
991
997
984
1,010
1,011
966
1,017
1,071
,053
926
970
954
944
963
958
960
942
942
950
948
978
1,059
1,056
1,110
1,130
1,149
1,128
1,137
1,156
1,139
1,134
1,184
,133
1,021
1,002
1,026
1,041
1,060
1,044
1,053
1,048
1,065
1,067
1,097
1,064
680
690
706
783
783
754
769
769
758
747
798
837
641
614
612
625
683
666
709
722
715
712
745
689
1963—Jan..
Feb..
Mar.,
Apr..
May.
June.
July.
Aug..
Sept.
Oct..
Nov.
Dec..
4,899
4,957
4,973
5,008
4,985
5,054
5,100
5,100
5,093
5,311
4,979
5,272
4,414
4,462
4,496
4,487
4,544
4,568
4,591
4,619
4,752
4,780
4,596
4,812
1,843
1,879
1,902
1,916
1,887
1,919
1,898
1,878
1,878
2,000
1,877
1,963
1,592
1,594
1,664
1,646
1,681
1,699
1,690
1,692
1,737
1,737
1,734
1,802
,074
,035
,022
1,032
1,042
1,016
,054
,051
1,021
,115
1,030
1,134
986
1,035
1,026
1,014
1,017
1,012
1,007
1,000
1,034
1,054
983
1,039
,180
,185
,191
1,223
,224
1,245
,254
,274
,322
,351
,198
1,252
1,086
1,096
1,104
1,112
1,114
,129
,144
,158
,190
,209
,116
,167
802
858
858
837
832
874
894
897
872
845
874
923
750
737
702
715
732
728
750
769
791
780
763
804
NOTE—Includes adjustments for differences in trading days.
74
8.
INSTALMENT CREDIT EXTENDED AND REPAID—Continued
E.
COMMERCIAL BANKS: N.S.A., 1942-63
[In millions of dollars]
Other
consumer
goods paper
Automobile paper
Total
Repair and
modernization loans
Period
Extended
Extended
Total
Purchased
Direct
Total
Purchased
Direct
paid
Personal
loans
Repaid
Extended
paid
Extended
Repaid
Extended
Repaid
1942.......
1943
1944
..
1,324
983
1,130
2,188
1,313
1,088
414
300
356
206
116
128
208
184
228
916
439
340
504
207
127
412
232
213
244
150
170
400
227
159
63
61
78
100
108
80
603
472
526
772
539
509
1945
1946
1947
1948
1949
1,403
2,778
4,546
5,714
6,543
1,232
1,956
3,488
4,810
5,633
422
932
1,728
2,282
2,763
137
342
721
1,002
1,285
285
590
1,007
1,280
1,478
373
661
1,317
1,845
2,296
130
239
538
779
1,011
243
422
779
1,066
1,285
231
553
1,003
1,370
1,510
204
368
752
1,126
1,288
121
252
431
486
601
86
120
236
355
454
629
1,041
1,384
1,576
1,669
569
807
1,183
1,484
1,595
1950
1951
1952
1953
1954
8,135
6,776
8,358
8,385
11,123
9,370
12,099 10,625
11,267 11,469
3,502
3,666
5,068
5,514
4,857
1,628
1,642
2,474
2,892
2,762
1,874
2,024
2,594
2,622
2,095
2,826
3,691
4,252
4,694
5,002
1,300
1,684
1,976
2,310
2,708
1,526
2,007
2,276
2,384
2,294
2,088
1,988
2,597
2,949
2,585
1,648
2,129
2,161
2,622
2,783
688
699
1,008
1,092
1,009
569
645
759
912
1,023
1,857
2,005
2,450
2,544
2,816
1,733
1,920
2,198
2,397
2,661
1955
1956
1957
1958
1959
14,109
14,463
15,355
14,860
17,976
12,304
13,362
14,360
14,647
15,560
6,871
6,471
7,148
6,481
8,260
4,167
4,037
4,498
4,037
5,300
2,704
2,434
2,650
2,444
2,960
5,503
6,050
6,519
6,652
7,120
3,193
3,629
4,019
4,153
4,509
2,310
2,421
2,500
2,499
2,611
2,928
3,288
3,242
2,980
3,256
2,766
2,941
3,220
2,992
2,869
1,089
1,199
1,229
1,328
1,607
1,054
1,068
1,118
1,193
1,286
3,221
3,505
3,736
4,071
4,853
2,981
3,303
3,503
3,810
4,285
1960
1961
1962
1963
18,269 16,832
17,711 18,294
20,474 18,468
22,871 20,266
8,392
7,990
9,934
11,382
5,304
5,054
6,162
7,147
3,089
2,938
3,771
4,235
7,607
7,875
8,549
9,768
4,814
4,981
5,369
6,085
2,794
2,897
3,181
3,683
3,241
3,021
3,195
3,445
3,129
3,937
3,123
3,146
1,502
1,404
1,445
1,507
1,341
1,406
1,382
1,407
5,135
5,296
5,901
6,537
4,754
5,075
5,413
5,945
1942—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug..
Sept.
Oct..
Nov.
Dec..
130
126
152
132
119
115
107
107
94
86
75
81
206
195
199
198
196
186
186
184
173
168
150
147
41
40
52
41
38
36
35
42
29
23
19
18
20
19
28
20
19
18
17
26
14
10
8
7
21
21
24
21
19
18
18
16
15
13
11
11
92
87
81
81
79
75
78
77
74
69
62
61
50
47
43
45
44
40
45
41
43
38
34
34
42
40
38
36
35
35
33
36
31
31
28
27
29
27
26
26
25
18
16
13
15
17
16
16
56
55
69
59
50
56
51
46
44
40
35
42
69
65
73
70
66
68
64
66
61
60
55
55
1943—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug..
Sept.
Oct..
Nov.
Dec.
71
64
91
81
81
94
83
81
89
81
80
87
134
131
138
124
110
116
104
96
97
91
85
87
18
19
26
26
26
28
27
28
29
25
24
24
7
7
10
11
11
11
10
11
12
9
9
8
11
12
16
15
15
17
17
17
17
16
15
16
53
46
49
42
37
38
36
30
30
26
26
26
28
25
25
22
18
17
15
13
13
10
11
10
25
21
24
20
19
21
21
17
17
16
15
16
16
10
10
13
13
15
12
9
11
13
13
15
34
32
51
37
37
45
38
38
43
37
37
43
51
49
54
48
44
45
41
42
45
41
39
40
1944_Jan..
Feb..
Mar.
M*ay!
June.
July.
Aug..
Sept.
Oct..
Nov.
Dec..
77
74
101
85
101
105
98
98
93
95
96
107
86
87
93
85
94
89
90
94
93
92
93
92
23
23
30
30
35
33
35
33
29
29
28
28
7
8
10
11
12
12
15
13
11
10
10
9
16
15
20
19
23
21
20
20
18
19
18
19
26
24
30
26
30
26
29
31
30
30
30
28
9
9
11
11
11
9
10
12
11
12
11
11
17
15
19
15
19
17
19
19
19
18
19
17
15
10
11
12
16
14
12
13
13
17
17
20
35
37
55
38
44
50
44
44
43
41
43
52
41
40
43
39
42
44
43
43
45
42
43
44
1945_Jan..
Feb..
Mar.
Apr..
May.
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec.
101
89
117
104
115
120
110
111
108
134
143
151
97
96
99
99
102
102
100
110
97
107
109
114
30
29
37
30
31
36
33
33
34
40
43
46
10
9
12
9
9
12
11
11
12
13
14
15
20
20
25
21
22
24
22
22
22
27
29
31
31
30
31
29
30
31
31
32
29
33
34
32
12
10
12
9
10
11
11
10
10
12
11
12
19
20
19
20
20
20
20
22
19
21
23
20
20
13
16
18
22
18
15
19
16
22
25
27
45
41
56
47
52
55
52
48
48
58
61
45
44
46
45
44
48
48
51
44
50
49
55
75
8.
INSTALMENT CREDIT EXTENDED AND REPAID — Continued
E.
COMMERCIAL BANKS: N.S.A., 1942-63 — Continued
[In millions of dollars]
Other
consumer
goods paper
Automobile paper
Total
Extended
Repaid
Personal
loans
Repaid
Extended
Month
Repair and
modernization loans
Extended
Total
Purchased
Direct
Total
Purchased
Direct
Repaid
Extended
Repaid
Extended
1946—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug..
Sept.
Oct..
Nov.
Dec.
161
159
190
216
230
220
243
255
246
280
272
306
120
123
131
143
155
149
173
172
181
203
195
211
52
52
60
74
79
72
79
88
83
95
93
105
19
18
20
29
29
24
29
34
31
35
34
40
33
34
40
45
50
48
50
54
52
60
59
65
39
40
44
45
52
49
59
60
64
70
64
75
15
14
13
16
18
17
23
21
23
26
23
30
24
26
31
29
34
32
36
39
41
44
41
45
32
29
29
38
45
42
54
47
51
60
59
67
19
24
21
26
27
27
34
29
38
39
42
42
12
14
18
20
20
21
21
26
24
27
25
24
10
11
9
11
11
11
13
13
8
65
64
83
84
86
85
89
94
88
98
95
110
1947_jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.,
Sept.
Oct..
Nov.
Dec.
311
291
347
366
379
399
388
368
393
415
414
475
221
223
246
264
270
296
312
296
330
338
328
364
115
113
138
146
143
142
148
139
149
156
165
174
45
42
55
61
59
60
63
59
67
69
70
71
70
71
83
85
84
82
85
80
82
87
95
103
80
76
89
104
101
104
120
111
128
133
130
141
30
28
33
42
42
38
51
46
52
60
55
61
50
48
56
62
59
66
69
65
76
73
75
80
71
60
65
74
85
100
82
76
82
93
95
120
47
49
50
51
56
74
65
66
70
74
69
81
22
23
27
32
36
39
37
40
48
48
38
41
16
19
17
15
18
17
18
19
22
25
23
27
103
95
117
114
115
118
121
113
114
118
116
140
1948—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
449
391
499
517
476
522
511
500
501
430
445
473
358
346
387
384
392
427
417
409
425
410
419
436
170
158
209
207
187
201
210
214
199
169
177
181
71
68
91
94
82
89
93
95
92
74
77
76
99
90
118
113
105
112
117
119
107
95
100
105
135
127
144
149
146
155
157
165
171
158
166
172
58
53
59
65
63
65
64
68
73
64
74
73
77
74
85
84
83
90
93
97
98
94
92
99
122
93
106
127
116
132
118
108
127
103
102
116
78
90
84
88
98
118
98
87
97
96
95
97
32
30
39
47
43
45
40
43
44
43
43
37
27
27
28
27
28
28
30
34
29
32
32
33
125
110
145
136
130
144
143
135
131
115
123
139
1949—Jan..
Feb..
Mar.
Apr..
May,
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec.
428
384
521
532
576
599
548
604
571
600
582
598
421
413
472
449
454
485
467
494
477
492
503
506
165
164
237
244
251
245
243
264
242
250
237
221
68
72
105
113
112
108
111
126
116
124
118
112
97
92
132
131
139
137
132
138
126
126
119
109
173
157
191
187
188
199
184
203
198
206
203
207
75
65
80
81
81
86
81
90
91
93
94
94
98
92
111
106
107
113
103
113
107
113
109
113
107
79
102
109
136
138
120
125
132
151
144
167
91
107
111
99
103
118
109
109
106
111
115
109
29
30
41
43
49
61
46
69
56
64
61
52
32
33
36
36
35
37
38
42
38
41
43
43
127
111
141
136
140
155
139
146
141
135
140
158
1950—Jan..
Feb..
Mar.
Apr..
May.
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec,
564
550
658
620
738
784
807
817
812
671
533
581
500
516
543
521
549
553
585
603
600
621
594
591
232
245
299
277
321
360
378
361
342
267
200
220
111
117
142
130
149
167
177
161
157
127
93
97
121
128
157
147
172
193
201
200
185
140
107
123
207
204
231
214
232
235
245
260
263
256
235
244
95
93
107
98
107
107
111
123
117
121
110
111
112
111
124
116
125
128
134
137
146
135
125
133
151
131
156
147
186
174
188
208
241
193
147
166
109
141
122
123
129
129
133
133
150
159
166
154
43
46
38
48
66
74
72
74
68
65
50
46
44
47
45
45
49
53
52
47
51
47
43
138
128
165
148
165
176
169
174
161
146
136
151
1951—Jan..
Feb.,
Mar.
Apr.,
May
June
July.
Aug.
Sept.
Oct.
Nov.
Dec
630
556
664
654
715
695
674
777
722
792
734
745
637
627
660
658
699
684
716
718
748
777
727
734
246
237
284
287
324
319
306
373
339
342
311
298
101
96
113
123
146
148
145
171
159
159
145
136
145
141
171
164
178
171
161
202
180
183
166
162
270
249
284
278
300
308
318
341
322
362
332
327
124
114
127
127
131
137
146
156
147
170
153
152
146
135
157
151
169
171
172
185
175
192
179
175
176
140
151
155
165
146
146
164
160
196
186
203
156
187
165
176
183
157
177
169
219
185
174
181
55
47
49
48
52
58
52
52
50
62
55
65
165
142
181
160
166
170
164
174
160
176
169
178
76
8. INSTALMENT CREDIT EXTENDED AND REPAID - Continued
E.
COMMERCIAL BANKS: N.S.A., 1942-63 - Continued
'un millions of dollars J
Month
Extended
Extended
Repaid
Repaid
Purchased Direct
- - - - - Total
1952-Jan.................
Feb.................
Mar................
Apr.................
May ................
lune ................
July ................
Aug.................
Sept ................
Oct.................
Nov ..••.•..........
Dec..•..............
Total
Purchased Direct
i---
Extended
Repaid
- - - - - - 193
177
210
203
208
219
218
203
203
210
180
226
177
162
177
182
183
175
201
184
180
198
176
203
178
170
188
183
175
199
193
197
204
211
201
211
194
177
210
197
208
202
202
194
202
206
189
203
256
215
290
293
251
257
246
224
217
235
210
255
198
189
216
246
217
218
213
216
230
232
209
238
74
67
88
91
94
106
104
99
98
103
89
79
78
64
80
75
70
78
79'
78
74
82
74
80
208
193
242
216
206
227
222
202
203
203
194
228
196
181
209
200
194
201
210
199
196
205
198
208
405
394
440
411
407
430
422
430
411
404
425
423
210
212
223
215
220
229
232
238
228
227
238
236
195
182
217
196
187
201
190
192
183
177
187
187
242
183
201
204
204
225
208
204
207
217
228
262
228
278
243
220
218
237
234
220
223
220
222
240
58
67
80
84
95
87
91
93
96
90
88
80
72
80
91
82
83
87
83
86
92
85
94
88
211
203
263
233
216
257
241
238
228
223
234
269
211
191
235
217
212
227
226
226
221
218
231
246
183
193
262
238
241
243
236
248
241
206
201
212
403
396
460
453
450
467
467
491
473
478
487
478
220
216
255
267
257
269
286
293
279
280
289
282
183
180
205
186
193
198
181
198
194
198
198
196
242
211
245
242
254
267
236
247
246
232
253
253
216
220
240
243
230
232
231
238
230
230
230
226
54
58
78
87
96
103
94
107
107
109
102
94
88
79
95
82
88
87
83
90
88
91
95
88
249
247
293
289
274
293
258
273
263
246
256
280
233
226
255
235
245
250
244
256
254
263
253
267
308
319
341
360
366
360
357
352
300
335
317
322
207
211
244
229
223
210
197
202
163
178
183
187
500
476
493
506
511
502
513
508
488
538
510
50S
297
276
286
303
306
300
307
303
295
332
313
311
203
200
207
203
205
202
206
205
193
206
197
194
228
208
227
294
263
317
281
274
251
343
292
310
225
220
220
233
230
230
262
277
239
273
256
276
74
79
89
102
114
108
108
113
105
117
102
88
95
86
89
89
89
85
93
92
82
95
88
85
279
266
296
313
305
302
299
306
268
294
271
306
262
257
272
267
287
280
280
287
265
291
270
285
338
334
373
409
405
402
411
390
371
389
330
346
218
208
237
253
253
225
237
217
203
205
192
202
540
500
529
548
554
524
571
540
549
566
540
558
331
302
324
338
337
325
351
334
340
351
338
348
209
198
205
210
217
199
220
206
209
215
202
210
280
222
234
257
277
292
302
292
272
295
254
265
282
236
245
255
268
259
280
311
265
275
270
274
79
77
87
100
114
109
118
120
112
118
101
94
92
87
89
91
96
88
100
92
96
96
91
100
301
278
297
342
324
317
330
315
296
310
286
340
292
267
286
302
290
287
305
288
291
301
284
310
346
320
343
331
364
359
392
346
365
373
340
373
155
143
154
149
165
165
186
163
174
179
164
179
July •...............
Aug.................
Sept ................
Oct.................
Nov ................
Dec.................
985
913
1,165
1,128
1,069
1,082
1,065
972
944
976
868
932
844
781
903
901
864
898
897
884
906
936
871
940
447
438
545
528
518
492
493
447
426
435
375
370
230
218
269
271
262
253
259
239
236
241
208
206
217
220
276
257
256
239
234
208
190
194
167
164
372
347
398
380
383
401
395
391
406
417
390
414
1954-Jan.................
Feb.................
Mar................
Apr.................
May ................
June ................
July ................
Aug.................
Sept................
Oct .................
Nov................
Dec.................
832
784
968
938
927
1,035
971
957
930
919
941
1,065
916
943
1,009
930
920
981
965
962
947
927
972
997
321
331
424
417
412
466
431
422
399
389
391
454
186
183
225
231
235
271
246
240
234
227
228
256
135
148
199
186
177
195
185
182
165
162
163
198
1955-Jan.................
Feb .................
Mar................
Apr.................
May ................
June ................
luly ................
Aug .•...............
Sept ................
Oct.................
Nov.................
Dec.................
973
975
1,224
1,204
1,237
1,337
1,187
1,291
1,222
1,146
1,142
1,171
940
921
1,050
1,013
1,013
1,036
1,025
1,075
1,045
1,062
1,065
1,059
428
459
608
586
613
674
599
664
606
559
531
544
245
266
346
348
372
431
363
416
365
353
330
332
1956-Jan.................
Feb.................
Mar................
Apr.................
May ...............
lune ............... .
July ................
Aug .................
Sept ................
Oct.................
Nov .....•..........
Dec.................
1,096
1,083
1,197
1,298
1,271
1,297
1,242
1,247
1,087
1,267
1,165
1,213
1,082
1,039
1,074
1,095
1,117
1,097
1,148
1,164
1,074
1,197
1,124
1,151
515
530
585
589
589
570
554
554
463
513
500
509
1957-Jan.................
Feb.................
Mar••••............
Apr.••..............
May ••..............
1.216
1,119
1,228
1,361
1,373
1,345
1,398
1,334
1,254
1,317
1,163
1,247
1,206
1,090
1,149
1,196
1,208
1,158
1,256
1,231
1,201
1,238
1,185
1,242
556
542
610
662
658
627
648
607
574
594
522
548
Repaid
60
53
59
57
56
61
61
66
69
72
69
76
183
180
200
207
255
261
241
200
208
229
205
225
Dec.................
Extended
Personal
loans
54
52
59
75
88
97
98
98
102
112
90
83
143
148
158
178
255
270
237
189
211
233
212
240
June ............... .
tion loans
182
191
188
203
165
163
177
164
179
182
178
189
326
328
358
385
510
531
478
389
419
462
417
465
July .•..............
Aug.................
Sept................
Oct.................
Nov................
Repaid
moderniza-
190
169
178
201
207
226
227
215
221
254
228
281
765
726
767
773
768
758
831
760
793
825
763
841
June ............... .
Extended
Repair and
191
177
189
182
199
194
206
183
191
194
176
194
763
726
805
864
1,013
1,073
1,021
905
945
1,038
915
1,055
1953-Jan..•..............
Feb.................
Mar................
Apr.................
May ................
Other
consumer
goods paper
Automol>ile paper
Total
77
8. INSTALMENT CREDIT EXTENDED AND REPAID-Continued
E.
COMMERCIAL BANKS: N.S.A., 1942-63 [In millions of dollars 1
Automobile paper
Total
Extended
Month
Extended
Repaid
Total
1958-Jan..•..............
Feb.................
Mar .•.•............
Apr.................
May •...............
June ................
July ................
Aug.................
Sept..•.•...........
Oct.................
Nov....•...........
Dec.................
1.194
1.030
1.154
1.308
1.252
1.302
1.345
1.261
1.221
1.267
1.166
1.360
1959-Jan.•...............
Feb.•...............
Mar.•..............
Apr.................
May .•..............
June ............... :
July .•..............
Aug.•..•............
Sept ................
Oct.................
Nov................
Dec.................
Purchased Direct
- - - -
Other
consumer
goods paper
Repaid
Total
1-
1.248
1.160
1.242
1.225
1.219
1.238
1.245
1,203
1,221
1.255
1.151
1.240
527
463
504
564
548
573
586
547
507
539
514
609
319
285
302
341
341
356
371
352
327
343
327
373
208
178
202
223
207
217
215
195
180
196
187
236
567
526
568
558
547
555
566
540
557
578
526
564
1.345
1.249
1.456
1.590
1.549
1.658
1.650
1.571
1.519
1.529
1.385
1.475
1.208
1,175
1.287
1.278
1.253
1.318
1.358
1.314
1.321
1.352
1.317
1.379
598
593
696
750
730
795
775
731
679
706
615
592
370
367
430
472
463
515
507
487
451
461
398
379
228
226
266
278
267
280
268
244
228
245
217
213
548
536
591
577
576
608
627
613
1960--Jan.................
Feb.................
Mar................
Apr.................
May ................
June ................
July ................
Aug.................
Sept................
Oct.................
Nov ................
Dec.................
1.392
1.444
1.565
1.661
1.647
1.693
1.494
1.599
1.470
1,450
1,437
1.416
1.350
1.356
1.424
1.368
1.424
1.434
1.375
1.454
1.393
1.446
1.410
1.397
610
663
761
797
792
804
686
728
646
657
659
590
381
413
473
498
501
517
442
471
420
422
403
363
1961-Jan.................
Feb.................
Mar...•............
Apr.................
May ................
June ................
July .•..............
Aug.................
Sept ................
Oct .................
Nov................
Dec.................
1,350
1,217
1,465
1,435
1,608
1,603
1,510
1,590
1,403
1,571
1,491
1,469
1,460
1,471
1,602
1,511
1,600
1.569
1,529
1,563
1,490
1.575
1,488
1,435
579
528
672
631
746
745
704
704
597
731
707
646
1962-Jan.................
Feb.................
Mar ....•...•.......
Apr .................
May ................
June ................
July ................
Aug .................
Sept................
Oct.................
Nov................
Dec.................
1,498
1,418
1,648
1,816
1,881
1,862
1,805
1,791
1,504
1,828
1,721
1,704
1,542
1,415
1,553
1,503
1,561
1,524
1,578
1,582
1,472
1,639
1,554
1,545
1963-Jan.................
Feb.................
Mar .•.•............
Apr.................
May ................
June ................
July ................
Aug .................
Sept................
Oct.................
Nov .....•..........
Dec.................
1,754
1,614
1,840
2,133
2,074
2,010
2,066
1,920
1,744
2,061
1,766
1,889
1,630
1,487
1,646
1,701
1,727
1,637
1,794
1,693
1,700
1,815
1,671
1,765
Continued
Purchased Direct
Extended
Repaid
Repair and
modernizalion loans
Extended
- - - - 352
329
358
347
342
346
354
336
352
361
329
347
215
197
210
211
205
209
212
204
205
217
197
217
258
202
231
259
258
252
278
254
250
251
228
259
273
253
257
248
272
259
254
248
238
240
220
230
87
78
91
107
115
122
122
121
128
134
115
108
616
599
625
344
334
369
362
361
378
400
396
385
389
385
406
204
202
222
215
215
230
227
217
219
227
214
219
287
220
242
269
276
280
290
279
274
276
254
309
232
219
237
240
231
237
241
231
245
251
244
261
229
250
288
299
291
287
244
258
226
235
255
227
602
601
650
618
649
648
619
659
626
664
639
630
387
381
414
389
413
405
390
419
392
420
405
399
216
221
236
229
237
244
229
240
234
245
234
231
301
276
255
265
282
286
264
267
257
259
248
281
354
318
409
390
471
472
459
462
395
475
443
406
225
209
263
242
275
273
245
242
202
257
264
241
656
613
670
627
675
670
675
649
690
660
630
416
387
421
394
425
412
425
432
410
436
424
399
240
226
250
233
250
247
245
244
240
255
236
231
702
669
824
896
941
922
887
858
657
922
869
788
426
410
511
548
582
573
563
551
424
578
529
469
276
259
313
348
359
349
324
307
233
344
340
319
689
624
711
693
730
706
737
736
682
783
738
721
438
391
452
436
459
442
462
463
423
495
460
448
851
810
948
1,095
1,071
1,017
1,049
926
783
1,044
892
890
526
499
592
684
668
647
662
601
505
666
549
548
325
311
356
411
409
370
387
325
278
378
343
342
778
707
781
825
836
788
869
815
817
891
818
843
494
434
487
521
522
493
535
504
506
561
508
520
604
660
78
Repaid
Personal
loans
Extended
Repaid
- - 98
94
100
101
94
104
103
94
104
105
95
101
322
287
328
378
331
355
359
339
336
343
309
384
310
287
317
318
306
320
322
321
322
332
310
345
98
91
116
135
147
151
155
150
147
151
137
129
101
95
105
107
105
110
110
112
110
113
107
362
345
402
436
396
432
430
411
419
396
379
445
327
325
354
354
341
363
380
358
362
372
363
386
274
274
259
252
271
263
252
268
249
258
255
254
96
106
117
132
144
148
130
147
132
128
119
103
104
107
115
108
110
115
112
118
111
117
113
110
385
399
433
468
430
455
414
457
435
406
411
442
370
373
400
390
394
407
392
408
407
407
270
210
233
225
261
247
259
268
253
271
245
278
264
356
380
365
368
354
328
332
309
315
285
281
87
84
108
118
134
135
125
139
128
/33
117
98
116
108
121
111
119
120
115
121
118
128
117
110
414
395
453
461
467
471
422
479
425
435
422
447
424
395
430
408
438
435
416
434
414
441
425
414
251
233
259
257
271
264
274
273
260
287
278
273
249
252
236
263
286
282
282
261
251
273
261
299
292
280
270
257
257
248
261
267
243
256
243
248
88
83
103
126
142
140
139
140
124
137
119
103
116
106
118
115
120
117
118
119
109
122
112
112
459
414
485
531
512
518
497
532
471
496
471
514
445
405
454
438
454
453
462
461
438
478
461
464
284
273
294
304
314
295
334
311
311
330
310
323
299
237
259
291
299
294
293
286
283
318
267
319
262
233
258
262
264
251
280
260
262
278
256
280
92
86
107
138
149
142
150
142
136
144
115
106
114
105
118
118
120
114
124
118
120
126
112
118
512
481
526
476
442
489
496
507
484
521
500
501
520
485
524
III
609
549
557
574
566
542
555
492
574
404
402
8.
INSTALMENT CREDIT EXTENDED AND REPAID — Continued
F.
Month
COMMERCIAL BANKS: S.A., 1942-63
[In millions of dollars]
Automobile paper
Total
Other consumer
goods paper
Extended
Repaid
37
35
36
37
39
34
33
31
32
31
29
26
10
9
10
10
10
9
9
10
6
7
5
5
57
58
58
58
49
51
51
49
48
43
41
40
68
67
69
68
66
66
65
66
63
59
60
55
15
12
11
12
11
13
13
11
12
14
12
14
26
25
22
22
18
23
17
16
15
17
12
14
7
10
12
10
10
10
10
9
7
8
37
35
41
36
37
41
37
40
46
40
41
41
52
51
50
47
45
43
41
42
46
42
41
39
27
24
28
28
30
26
29
30
29
30
30
29
14
11
12
12
14
13
13
15
15
17
16
18
13
15
14
13
14
12
12
13
12
13
14
14
39
39
45
39
42
45
45
45
45
45
47
50
42
41
40
40
41
42
44
41
46
44
44
44
32
33
33
28
28
33
31
31
36
41
46
50
30
32
30
30
30
31
31
31
29
32
34
33
18
16
18
18
19
17
16
21
19
21
24
24
15
16
16
17
19
16
15
19
17
16
18
20
8
9
9
9
10
10
10
10
12
13
13
8
8
48
46
46
48
50
50
52
49
52
60
65
63
44
47
43
46
43
47
48
50
46
50
50
55
120
129
133
140
151
152
167
167
186
199
197
215
55
59
56
67
72
69
74
84
88
97
98
113
39
43
44
45
51
51
56
58
64
68
64
78
28
35
34
37
39
40
55
51
57
58
58
61
20
22
22
25
25
26
34
29
39
39
43
44
16
19
20
19
19
19
20
23
23
23
24
27
7
8
9
9
11
10
11
10
12
12
13
8
68
73
74
82
83
80
85
94
96
101
100
105
54
56
58
61
64
65
66
70
71
80
77
85
222
235
248
263
262
297
300
302
326
330
346
357
121
127
129
133
131
137
138
135
151
160
183
183
80
83
89
104
99
107
115
112
123
128
137
140
64
72
74
74
76
95
82
83
85
90
100
108
49
46
52
51
52
69
64
70
70
74
73
82
29
31
30
32
34
35
37
37
43
41
38
44
16
19
18
15
17
18
18
19
22
23
24
27
106
110
107
111
110
112
115
116
118
122
127
130
77
87
89
93
94
103
103
101
111
105
112
108
Repaid
Extended
Repaid
Extended
Repaid
1942—Jan..
Feb.,
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
135
144
144
125
111
101
104
108
97
91
83
81
206
205
195
198
198
182
182
185
171
164
157
145
47
50
50
38
34
30
32
39
27
25
22
20
91
94
80
83
83
73
75
78
70
67
63
59
26
30
29
23
22
16
17
15
17
18
15
16
1943_Jan..
Feb.
Mar.
Apr..
May.
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
77
74
80
77
77
84
81
83
91
87
86
86
139
136
130
122
112
113
102
97
97
93
87
85
21
23
23
24
24
25
25
27
28
27
27
26
54
50
46
43
39
37
34
30
29
26
26
25
1944__jan..
Feb.,
Mar.
Apr..
May.
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec.
85
81
90
85
93
95
98
98
96
101
101
107
89
87
88
88
91
87
91
91
93
95
94
94
26
26
27
29
31
30
33
31
29
32
31
31
1945__j an ..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.,
Sept.
Oct..
Nov.
Dec.
106
103
106
103
106
110
109
111
117
134
148
150
95
100
95
101
99
101
101
108
100
106
110
116
1946—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.,
Sept.
Oct..
Nov.
Dec.
167
186
184
205
213
208
234
252
264
279
280
306
1947—Jan..
Feb..
Mar.
320
340
340
350
351
379
372
371
397
413
448
465
For note see p. 82.
Personal loans
Repaid
Extended
May!
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
Repair and modernization loans
79
Extended
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
F.
Month
COMMERCIAL BANKS: S.A., 1942-63 — Continued
[In millions of dollars]
Automobile paper
Total
Extended
Repaid
Extended
Repaid
Other consumer
goods paper
Extended
Repaid
Repair and modernization loans
Extended
Repaid
Personal loans
Extended
Repaid
1948—Jan..
Feb..
Mar..
Apr..
May.
June.
July.
Aug..
Sept..
Oct..
Nov.,
Dec..
465
461
480
498
461
480
489
495
500
445
467
473
359
363
379
385
401
414
400
418
421
414
425
431
183
181
191
191
180
187
197
205
199
180
191
197
135
139
140
149
150
153
151
165
165
157
169
172
113
113
115
127
109
121
117
116
127
103
104
105
81
84
85
89
99
107
96
94
97
99
97
98
41
39
42
47
42
39
39
38
39
38
42
40
26
27
28
27
29
29
29
34
30
31
32
33
128
128
132
133
130
133
136
136
135
124
130
131
117
113
!949_Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug..
Sept.
Oct..
Nov.
Dec..
464
455
504
515
555
549
542
566
561
615
615
602
437
434
458
447
465
472
466
484
471
490
510
499
187
189
220
228
237
225
234
239
237
264
259
244
179
173
185
186
192
195
184
194
191
203
208
206
105
96
110
110
131
129
124
127
130
149
147
152
98
99
110
99
105
109
111
114
105
112
116
110
39
41
46
44
48
53
47
60
51
56
60
56
32
34
35
36
37
37
39
40
39
40
43
42
133
129
128
133
139
142
137
140
143
146
149
150
128
128
128
126
131
131
132
136
136
135
143
141
1950—Jan..
Feb..
Mar.
M*ay!
June.
July.
Aug.,
Sept.
Oct..
Nov.
Dec.
616
655
635
629
680
716
792
764
796
677
563
612
515
539
524
534
538
539
583
587
593
616
601
607
267
286
280
274
288
328
361
327
335
279
220
257
213
224
223
222
226
228
245
247
254
251
240
253
149
159
163
154
173
164
194
207
236
185
148
156
117
130
119
123
126
124
136
138
148
160
167
160
57
63
43
51
61
64
71
63
61
56
49
49
45
46
46
47
46
48
54
49
49
49
47
43
143
147
149
150
158
160
166
167
164
157
146
150
140
139
136
142
140
139
148
153
142
156
147
151
1951—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
660
657
638
666
655
633
656
724
739
767
779
784
631
655
632
675
688
674
716
703
770
746
740
755
273
275
267
285
284
284
288
339
345
340
343
343
267
273
273
292
293
299
318
325
326
344
341
340
168
169
156
162
156
142
151
162
165
181
187
189
160
174
159
172
180
157
182
176
224
181
176
188
55
51
54
56
55
52
56
56
59
65
66
74
52
50
47
51
54
57
53
50
53
58
55
65
164
162
161
163
160
155
161
167
170
181
183
178
152
158
153
160
161
161
163
152
167
163
168
162
1952—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
809
821
800
848
933
1,011
963
889
945
1,014
1,017
1,073
759
738
759
763
758
781
804
774
791
799
810
834
364
365
349
369
450
485
437
374
417
463
483
512
344
337
341
335
356
363
378
345
359
358
362
374
182
195
188
202
200
228
185
176
186
189
164
174
227
222
225
238
238
252
176
176
177
180
190
188
71
70
70
79
81
89
91
87
93
95
92
90
57
55
58
59
58
62
61
66
70
68
72
73
192
191
193
198
202
209
208
206
210
218
204
219
173
170
174
180
180
182
189
187
185
193
186
199
1953—Jan..
Feb.,
Mar.
Apr.,
May
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
1,045
1,059
1,144
1,096
1,023
976
1,004
960
948
956
959
929
834
828
887
885
882
886
870
897
905
910
915
926
500
502
523
501
473
430
451
434
429
436
435
400
369
376
393
383
387
389
381
389
402
403
409
413
240
252
300
293
254
246
245
232
222
223
216
226
200
185
213
227
224
222
211
227
228
229
222
234
98
92
101
93
87
93
94
89
86
86
89
84
75
70
78
77
74
76
79
79
74
78
75
77
207
213
220
209
209
207
214
205
211
211
219
219
190
197
203
198
197
199
199
202
For note see p. 82.
80
126
120
123
125
124
125
129
127
127
128
201
200
209
202
8.
INSTALMENT CREDIT EXTENDED AND REPAID — Continued
F.
COMMERCIAL BANKS: S.A., 1942-63 — Continued
[In millions of dollars]
Automobile paper
Total
Other consumer
goods paper
Repair and modernization loans
Personail loans
Month
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
910
907
896
903
889
929
925
950
944
998
948
918
936
964
942
971
375
379
380
390
376
404
398
410
420
426
416
412
411
417
408
427
233
214
200
204
206
213
210
214
238
278
231
204
224
238
232
228
83
93
86
85
88
77
82
83
73
87
84
85
86
86
84
86
219
221
230
224
219
235
235
243
213
207
217
217
215
223
218
230
944
955
997
951
939
976
407
415
437
410
408
425
214
219
224
223
225
227
85
79
84
92
84
90
238
242
252
226
222
234
Dec
J 062
982
486
422
234
235
84
86
258
239
Jan..
Feb
May
Apr
May
June.
July
AUR
Sept
Oct
Nov.
Dec
1,058
,127
,180
151
,198
,213
,158
,208
,242
,171
,191
,183
962
986
1,000
996
1,030
1,015
1,035
1,037
1,052
1,064
1,074
,054
487
523
569
549
581
602
575
610
623
582
563
582
414
426
438
453
455
455
470
472
473
475
488
482
238
251
259
244
255
250
237
242
250
228
253
229
223
231
231
230
233
231
234
230
232
233
234
222
73
80
86
88
88
90
87
92
96
97
98
103
88
85
90
83
92
86
85
87
88
89
94
89
260
273
266
270
274
271
259
264
273
264
277
269
237
244
241
230
250
243
246
248
259
267
258
261
,159
,207
,186
,267
190
,204
,192
177
,180
,227
,216
,267
1,067
1,074
1,043
,104
I 095
1,099
1,141
1,128
1,155
1,137
1,138
1,193
1957 Jan.
Feb
Mar
Apr.
May
June
July
Aug...
SeDt
Oct
Nov
Dec.
,281
1,293
1,265
1,263
1,279
,293
,285
,283
1,306
,300
1,255
1,251
1958—Jan
Feb
Mar. ..
1954—Jan
Feb
Mar.. ..
Apr
May
June
July
Aug
Sept
Oct
Nov
1955
1956—Jan
Feb.
Mar
Apr
May
June
July.
Aug
Sept
Oct..
Nov
Dec.
,.
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
1959—Jan
Feb
Mar
Apr.
May
June
July
AUK
Sept
.
Oct
Nov
Dec
564
496
217
222
97
92
281
257
582
560
564
540
494
478
516
499
238
246
303
254
224
218
228
225
104
100
105
102
89
86
92
89
283
280
295
294
267
261
268
282
519
500
302
235
97
86
286
278
522
515
506
491
276
268
262
267
99
98
94
90
295
296
279
280
512
523
271
258
101
87
296
287
506
528
567
507
513
531
322
295
294
262
262
284
100
99
100
88
87
88
299
294
306
280
276
290
1,182
1,170
1,161
1,158
1,180
1,202
1,194
.21?
l',23l
1,205
1,216
J 254
606
620
533
539
267
262
274
249
104
105
90
94
304
306
285
288
605
607
601
533
536
539
262
254
266
252
241
262
102
98
100
90
90
95
296
304
312
286
291
284
591
586
577
611
593
576
569
543
539
531
558
553
545
567
288
281
291
281
283
263
246
272
268
304
275
269
283
277
102
104
106
103
103
100
104
92
96
92
97
90
92
102
312
314
309
311
321
316
332
295
291
286
301
293
296
308
1,270
1,190
1,175
1,232
,189
I 203
,258
1,260
,224
1,249
,291
1,349
1,226
1,242
1,234
1,211
1,215
1,235
1,204
1,237
1,208
1,206
1,238
1,213
583
530
491
527
509
565
567
563
556
544
246
237
254
261
252
263
265
258
242
271
115
106
105
105
103
95
101
100
101
94
326
317
325
339
325
303
309
313
312
306
518
554
240
262
109
104
336
315
540
542
526
537
570
641
543
553
550
550
561
559
261
263
247
241
247
232
248
254
238
234
241
224
109
111
113
117
119
115
100
97
101
98
100
100
348
344
338
354
355
361
313
333
319
324
336
330
1,442
1 444
1,450
1,494
1,518
1,472
1,542
1,540
1 561
1,534
1,473
1,490
1,202
1,252
1,257
1,265
1,298
1,265
1,311
1,328
1,331
1,321
1,360
1.376
659
549
279
226
131
101
373
326
679
577
259
224
124
102
382
349
665
702
698
691
714
713
728
715
651
641
576
575
595
584
601
617
608
595
613
631
261
272
279
256
270
284
275
269
267
282
234
236
239
231
235
233
250
249
257
261
131
131
137
130
140
135
132
135
137
141
103
107
110
106
107
113
109
108
113
107
393
389
404
395
418
408
428
415
418
426
344
347
354
344
368
365
364
369
377
377
For note see p. 82.
81
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
F.
COMMERCIAL BANKS: S.A., 1942-63 — Continued
[In millions of dollars]
Total
Automobile paper
Other consumer
goods paper
Repair and modernization loans
Personal loans
Month
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
1960—Jan..
Feb..
Mar.
Apr.,
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
1,534
1,579
1,543
1,568
1,544
1,542
1,483
1,493
1,534
1,469
1,527
1,458
1,401
1,357
1,369
1,383
1,413
1,408
1,409
1,393
1,406
1,446
1,433
1,425
693
716
722
738
720
713
673
688
713
657
704
646
628
610
624
627
641
640
630
630
633
656
645
645
293
305
274
272
272
275
261
253
259
261
261
261
278
262
251
255
266
260
261
257
253
264
264
262
131
139
130
130
129
129
122
124
120
117
118
117
110
109
111
110
110
113
115
113
110
114
114
114
417
419
417
428
423
425
427
428
442
434
444
434
385
376
383
391
396
395
403
393
410
412
410
404
1961—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
1,428
1,406
1,438
1,397
1,440
1,450
1,464
1,511
1,491
1,550
1,568
1,575
1,447
1,556
1,533
1,578
1,522
1,535
1,523
1,521
1,523
1,536
1,507
1J518
633
608
634
602
644
655
673
679
679
707
743
740
653
660
642
656
640
648
661
656
664
665
665
670
250
243
249
240
242
236
251
261
258
268
257
263
256
357
365
380
349
349
330
324
318
316
296
300
116
116
120
119
114
116
114
119
118
120
116
116
117
117
116
117
114
117
115
116
119
121
117
117
429
439
435
436
440
443
426
452
436
455
452
456
421
422
410
425
419
421
4j7
425
422
434
429
431
1962—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug..
Sept.
Oct..
Nov.
Dec..
1,574
1,647
1,641
1,700
1,715
1,713
1,724
1,715
1,680
1,741
1,802
1,803
1,504
1,511
1,514
1,509
1,518
1,522
1,544
1,551
1,571
1,542
1,582
1,610
760
777
790
822
826
826
833
837
787
861
903
892
675
679
694
696
706
707
715
720
729
728
746
755
227
293
258
272
272
274
270
256
268
260
274
276
278
281
263
257
251
251
257
262
262
248
255
261
117
116
117
121
123
122
124
120
120
119
119
119
116
116
115
116
117
116
116
115
115
111
114
118
470
461
476
485
494
491
497
502
505
501
506
516
435
435
442
440
444
448
456
454
465
455
467
476
1963—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug..
Sept.
Oct..
Nov.
Dec.
1,843
1,879
1,902
1,916
1,887
1,919
1,898
1,878
1,878
2,000
1,877
1,963
1,592
1,594
1,664
1,646
1,681
1,699
1,690
1,692
1,737
1,737
1,734
1,802
923
944
944
966
943
946
947
925
904
994
935
990
764
771
791
798
809
820
811
814
837
843
844
865
273
277
294
289
285
297
269
287
291
307
286
288
250
233
260
252
259
264
265
259
270
273
274
289
123
122
127
127
129
128
129
124
126
127
117
120
114
115
119
116
117
117
118
117
121
117
116
121
524
536
537
534
530
548
553
542
557
572 "
539
565
464
475
494
480
496
498
496
502
509
504
500
527
NOTE.—Includes adjustments for differences in trading days.
82
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
G. SALES FINANCE COMPANIES: N.S.A., 1948-63
[In millions of dollars]
Total
Automobile paper
Other consumer
goods paper
Repair and modernization loans
Personal loans
Period
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
1948
1949
1950
1951
1952
1953
1954
3,217
4,296
2,561
3,363
2,321
3,426
1,790
2,494
407
556
305
396
175
50
192
185
314
264
274
288
5,098
5,467
6,982
7,560
7,260
4,331
5,524
5,925
6,344
7,043
4,096
4,277
5,368
5,971
5,648
3,405
4,370
4,601
4,913
5,466
696
665
986
973
976
611
745
758
837
951
46
35
37
32
11
75
33
40
46
26
260
490
591
584
625
240
376
526
548
600
1955
1956
1957
1958
1959
10,206
9,619
10,250
9,043
11,196
7,903
8,949
9,759
9,842
9,742
8,223
7,289
7,434
5,838
7,368
6,188
6,956
7,280
6,921
6,512
1,220
1,404
1,747
2,003
2,361
1,013
1,175
1,515
1,830
1,963
17
29
27
40
68
20
25
27
35
32
745
897
1,043
1,162
1,399
681
793
936
1,057
1,235
1960
1961
1962
1963
11,456
10,667
11,999
12,664
10,442
10,943
11,434
12,211
7,079
5,746
7,158
7,636
6.738
6,463
6,520
6,857
2,754
3,209
2,799
2,615
2,267
2,936
3,132
3,231
128
116
110
94
61
83
101
106
1,495
1,596
1,932
2,319
1,376
1,461
1,681
2,017
1948—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
232
213
291
286
278
273
288
299
309
227
250
271
167
166
196
187
206
235
226
237
250
222
230
239
153
149
216
205
183
199
215
227
232
163
184
195
112
134
129
141
169
160
171
181
154
160
166
38
24
30
37
49
36
35
34
38
29
27
30
16
20
23
22
28
26
26
27
28
30
30
29
18
15
16
19
21
12
13
13
13
12
13
10
27
12
14
12
14
16
16
15
17
16
16
17
23
25
29
25
25
26
25
25
26
23
26
36
12
21
25
24
23
24
24
24
24
22
24
27
1949_Jan..
Feb.
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
220
239
345
351
393
389
377
429
387
393
401
372
230
226
269
249
266
285
279
302
297
309
326
325
162
179
277
285
314
304
297
346
313
322
331
296
160
160
194
180
191
208
208
228
224
237
253
251
29
34
36
41
52
59
56
59
52
46
44
48
20
21
27
32
38
42
33
36
34
37
37
39
6
4
4
4
5
5
4
4
2
4
5
3
27
22
19
12
12
11
14
14
16
13
13
12
23
22
28
21
22
21
20
20
20
21
21
25
23
23
29
25
25
24
24
24
23
22
23
23
1950—Jan..
Feb..
Mar.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
340
363
441
414
467
522
532
496
475
398
323
327
324
315
376
327
362
360
341
381
383
404
385
373
279
301
363
333
373
421
425
384
375
323
264
255
251
245
296
256
284
289
266
293
305
319
307
294
39
41
53
57
68
72
80
82
74
53
35
42
40
41
47
42
51
45
51
63
57
61
57
56
4
4
3
3
4
5
5
7
4
3
2
2
11
9
10
8
6
6
6
6
2
4
3
4
18
17
22
21
22
24
22
23
22
19
22
28
22
20
23
21
21
20
18
19
19
20
18
19
1951—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
361
317
387
396
472
490
478
592
509
512
484
469
413
379
429
417
451
448
478
505
468
542
497
497
272
243
299
316
381
396
386
472
401
397
371
343
328
299
336
326
358
350
381
402
374
433
393
390
45
44
49
45
50
50
49
70
64
68
64
67
60
53
60
61
62
62
61
65
58
70
66
67
2
1
2
2
3
3
4
4
4
4
3
3
3
4
3
4
2
3
3
3
3
2
2
1
42
29
37
33
38
41
39
46
40
43
46
56
22
23
30
26
29
33
33
35
33
37
36
39
M^Ly!
US
83
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
G.
SALES FINANCE COMPANIES: N.S.A., 1948-63 — Continued
[In millions of dollars]
Automobile paper
Total
Other consumer
goods paper
Repair and modernization loans
Personal loans
Month
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
1952 Jan
Feb
Mar . .
Apr
May
June
July .
Aug
SeDt . .
Oct
Nov
Dec..
458
438
465
518
674
747
664
508
564
668
594
684
521
477
501
483
494
493
506
471
491
512
455
521
353
338
353
406
536
586
505
367
425
522
465
512
415
378
392
381
382
383
397
353
381
396
346
397
61
56
61
64
83
100
106
91
90
95
77
102
64
58
61
63
64
57
61
71
62
68
62
67
1
2
2
2
4
4
4
4
3
4
4
3
4
4
4
3
3
4
4
4
2
2
4
2
43
42
49
46
51
57
49
46
46
47
48
67
38
37
44
36
45
49
44
43
46
46
43
55
1953 Jan
Feb
Mar....
Apr
May.
June
July
Aue
Sept
Oct
Nov
Dec..
571
568
680
671
642
683
681
642
622
645
577
578
478
475
549
543
486
539
506
534
550
571
533
580
442
450
541
539
508
532
547
509
500
518
455
430
367
363
417
423
371
409
399
422
435
445
415
447
78
77
90
87
85
96
84
79
72
77
70
78
63
68
79
75
68
80
55
58
65
78
73
75
2
2
2
2
2
3
2
3
4
4
3
3
4
4
4
2
5
5
5
6
3
4
2
2
49
39
47
43
47
52
48
51
46
46
49
67
44
40
49
43
42
45
47
48
47
44
43
56
1954 Jan....
Feb
Mar.,..
Apr
May
June.
July
Auc
SeDt
Oct
Nov. .
Dec
428
443
552
570
581
714
695
658
632
620
634
733
516
532
638
568
550
612
576
599
599
600
621
632
330
343
425
445
459
571
546
517
497
483
482
550
403
415
491
439
421
475
443
463
468
471
486
491
51
58
72
74
73
89
95
88
87
85
92
112
64
71
91
79
79
84
81
83
80
78
80
81
4
3
2
3
2
2
2
2
2
2
2
2
2
43
42
54
50
49
53
54
52
48
51
59
70
46
44
53
48
48
51
50
51
49
49
53
58
592
656
869
841
906
997
932
1,028
925
829
792
839
556
562
663
605
627
675
617
716
698
728
737
717
465
520
716
692
750
824
763
837
756
657
616
627
433
431
514
467
488
528
484
563
555
579
585
561
75
82
90
86
99
112
108
123
108
108
105
124
72
79
88
80
82
87
79
91
85
91
91
88
2
2
2
2
2
2
1
2
2
1
1
1
52
53
63
62
56
60
59
64
59
62
69
85
49
50
59
56
55
58
53
60
56
58
60
67
705
718
823
770
843
848
820
873
723
822
887
786
712
694
756
721
777
724
736
768
686
836
781
758
551
565
641
605
663
663
629
677
550
626
578
543
553
546
588
566
603
566
566
600
531
661
608
567
92
91
100
93
111
112
112
112
102
117
224
138
99
88
98
91
111
91
100
97
90
102
99
109
3
2
3
2
3
3
3
2
2
4
2
2
2
1
2
2
2
3
2
2
2
2
60
61
79
70
67
70
76
80
69
76
84
103
57
57
68
63
60
64
67
68
64
71
72
80
789
693
824
858
889
907
1,029
907
834
865
783
872
810
734
810
800
816
782
849
817
799
878
803
860
556
517
604
625
670
681
719
672
615
631
558
586
619
552
606
605
613
581
634
608
593
653
587
628
158
103
137
144
135
138
208
146
136
146
133
162
120
114
127
116
125
123
128
128
127
143
131
133
3
3
2
2
3
3
3
2
3
3
3
3
2
2
2
2
2
2
2
2
3
2
72
70
81
88
81
85
98
86
80
85
92
122
68
66
75
77
76
76
85
79
77
80
82
97
1955 Jan
Feb .
Mar
Apr
May
June
July. ..
Aug
Seot.
Oct
Nov
Dec
1956 Jan
Feb
Mar
Apr
May
July
Aug
SeDt
Oct
Nov
Dec
1957—Jan
Feb .
Mar
Apr
May
June
July
Aug
SeDt
Oct
Nov ..
Dec
84
1
1
1
1
1
1
1
1
1
1
1
4
3
2
2
3
2
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
G.
Month
SALES FINANCE COMPANIES: N.S.A., 1948-63 — Continued
[In millions of dollars]
Total
Automobile paper
Other consumer
goods paper
Repair and modernization loans
Personal loans
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
1958—Jan..
Feb.
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
726
655
735
769
751
791
866
769
671
752
697
860
832
764
850
849
820
805
844
801
828
858
763
827
514
420
446
487
500
524
529
492
448
475
429
575
622
547
605
600
581
569
580
558
578
600
512
569
123
148
193
187
162
166
242
179
117
176
166
144
129
138
159
159
153
150
173
154
157
163
150
145
3
2
3
3
3
4
4
3
4
4
3
3
2
2
3
2
3
3
4
3
3
3
4
2
86
84
93
92
87
97
92
94
103
97
99
137
79
77
84
87
83
82
87
86
90
92
98
111
1959—Jan..
Feb.
Mar.
Apr.
May
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
760
730
897
944
951
1,088
1,079
987
987
998
864
912
769
739
839
803
785
824
831
783
818
867
811
874
503
503
603
645
649
756
731
664
636
654
517
507
519
502
571
535
517
558
558
514
553
580
537
569
158
128
181
192
197
212
225
197
213
211
211
236
156
144
162
166
168
162
168
161
167
177
159
173
2
4
6
3
4
5
7
7
9
7
6
7
3
2
3
3
3
3
3
3
2
5
3
97
96
107
104
101
114
116
119
130
126
129
161
92
91
103
98
97
102
102
106
98
108
110
128
I960—Jan..
Feb.
Mar.
M^y!
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
822
881
995
1,019
1,005
1,076
963
1,036
935
918
905
902
794
804
903
870
854
866
836
913
886
911
903
903
499
574
656
677
653
703
595
632
540
547
526
478
525
540
595
551
565
573
541
600
562
582
564
539
210
187
209
207
222
236
239
256
248
242
244
255
161
155
188
194
173
181
181
191
206
207
209
220
6
7
8
11
13
15
13
15
12
10
9
9
4
4
4
4
4
6
5
5
5
5
8
8
107
113
122
125
117
123
117
133
135
119
124
160
103
106
117
121
111
106
108
117
112
117
122
136
1961—Jan..
Feb.
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec..
765
683
844
815
909
995
878
944
822
970
941
1,101
872
800
970
866
934
938
891
951
879
986
929
928
406
370
471
440
514
573
496
516
408
548
524
480
542
493
584
508
554
563
527
559
518
578
534
502
245
200
243
249
261
277
244
266
265
264
263
434
210
192
259
242
250
252
238
255
242
271
252
273
8
6
6
9
9
12
12
14
10
11
10
10
8
5
3
6
9
9
6
8
6
7
7
9
106
108
124
117
124
133
127
149
139
147
144
178
113
109
124
109
120
114
120
129
113
130
136
144
1962—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
884
788
937
1,008
1,059
1,081
1,069
1,068
863
1,108
1,070
1,064
911
895
1,015
941
978
951
957
954
872
1,035
944
981
484
475
582
618
673
669
657
651
467
682
637
563
541
484
555
526
546
538
551
552
498
628
547
554
263
179
207
228
223
246
239
232
223
244
244
271
240
281
316
278
289
276
255
244
235
249
229
240
7
8
9
9
11
9
11
12
9
9
8
8
6
8
8
7
9
8
8
12
8
9
9
9
130
126
139
153
152
157
162
173
164
173
181
222
124
122
136
130
134
129
143
146
131
149
159
178
1963—Jan..
Feb..
Mar.
Apr.,
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
978
845
957
1,094
1,107
1,076
1,159
1,094
955
1,194
1,013
1,192
966
957
1,053
1,048
1,030
966
1,045
995
997
1,129
959
1,066
575
523
601
705
716
688
734
658
508
723
593
612
553
517
564
580
577
532
599
574
562
659
546
594
240
160
183
196
204
204
218
218
211
256
219
306
258
281
322
289
282
271
276
243
249
276
233
251
7
6
7
8
8
8
9
9
8
9
7
8
10
8
8
10
8
8
9
10
8
9
8
10
156
156
166
185
179
176
198
209
228
206
194
266
145
151
159
169
163
155
161
168
178
185
172
211
85
8. INSTALMENT CREDIT EXTENDED AND REPAID —Continued
H.
SALES FINANCE COMPANIES: S.A., 1948-63
[In millions of dollars]
Automobile paper
Total
Other consumer
goods paper
Repair and modernization loans
Personal loans
Month
Repaid
Extended
Repaid
Extended
Repaid
264
251
272
273
271
255
269
288
296
236
264
278
173
182
186
191
210
226
221
238
247
220
232
235
180
179
198
192
178
185
198
216
221
169
196
209
116
124
127
133
147
161
156
171
177
151
162
165
42
29
32
36
46
32
32
32
35
30
30
31
18
24
23
23
26
25
25
27
28
30
28
28
18
15
16
19
21
12
13
13
13
12
13
10
27
12
14
12
14
16
16
15
17
16
16
17
24
28
26
26
26
26
26
27
27
25
25
28
12
22
22
23
23
24
24
25
25
23
26
25
264
289
330
342
377
356
357
384
366
407
428
396
244
247
255
254
269
276
285
290
292
303
328
320
199
219
262
274
301
278
280
309
296
332
353
323
170
176
184
185
197
199
212
218
218
231
255
249
34
41
39
42
48
53
52
51
47
48
50
51
23
25
27
33
35
42
34
34
34
36
36
37
6
4
4
4
5
5
4
4
2
4
5
3
27
22
19
12
12
11
14
14
16
13
13
12
25
25
25
22
23
20
21
20
21
23
20
19
24
24
25
24
25
24
25
24
24
23
24
22
415
445
433
426
424
468
493
436
449
405
340
364
342
344
357
346
353
350
346
363
374
391
385
380
344
371
352
338
336
376
392
336
355
326
277
293
263
267
280
272
281
280
269
280
296
308
308
301
48
51
58
62
62
64
73
70
67
55
40
46
45
47
47
44
46
45
53
58
57
58
55
56
4
4
3
3
4
5
5
7
4
3
2
2
11
9
10
8
6
6
6
6
2
4
3
4
23
21
20
22
20
19
18
19
19
21
19
19
1951—Jan
Feb
Mar... .
Apr
May..
June
July..
Aug
Sept
Oct
Nov.
Dec
424
392
387
413
428
432
441
523
510
499
509
509
419
413
404
441
446
437
489
486
479
506
499
505
325
303
299
326
342
347
352
416
401
383
391
392
330
325
317
347
358
342
388
388
380
403
394
398
53
54
52
49
46
43
44
58
61
66
70
69
64
59
58
62
58
61
64
61
61
64
65
68
2
1
2
3
3
4
4
4
4
3
3
3
4
3
4
2
3
3
3
3
2
2
1
19
19
20
23
22
23
23
23
23
21
21
23
44
34
34
36
37
39
41
45
44
46
45
45
22
25
26
28
28
31
34
34
35
37
38
38
1952—Jan
Feb .
Mar
Apr
May
June
July.. .
Aug
Sept...
Oct
Nov
Dec
543
519
485
522
616
679
588
472
551
649
651
707
531
498
489
490
493
501
505
471
487
480
474
506
424
403
367
403
481
527
441
339
413
503
512
555
420
394
385
388
385
390
394
355
374
369
359
388
74
66
68
69
80
92
94
82
86
92
86
97
68
61
59
62
61
58
63
69
64
63
64
66
1
2
2
2
4
4
4
4
3
4
4
3
4
4
4
3
3
4
4
4
2
2
4
2
44
48
48
48
51
56
49
47
49
50
49
52
39
39
41
37
44
49
44
43
47
46
47
50
1953—Jan
Feb...
Mar
680
693
703
669
604
584
596
592
607
624
629
579
490
513
530
550
507
523
509
534
544
537
549
558
534
552
558
530
469
449
473
466
485
499
501
455
374
392
405
431
390
399
400
423
426
415
426
432
93
93
97
92
85
83
73
71
69
73
75
69
67
73
75
73
69
76
57
57
67
74
75
74
2
2
2
2
2
3
2
3
4
4
3
3
4
4
4
2
5
5
5
6
3
4
2
2
51
46
46
45
48
49
48
52
49
48
50
52
45
44
46
44
43
43
47
48
48
44
46
50
1948—Jan
Feb
Mar
Apr
May
June
July
AUK
Sept
Oct
Nov
Dec
1949—j a n <
Feb
Mar .
Mav
June
July
Aug
Sept
Oct
Nov
Dec
1950—j a n
Feb
Mar
May..
June
July..
Aug
Sept...
Oct
Nov
Dec
Mav
June
July
Aug..
Sept
Oct
Nov.
Dec
For note see p.
86
Extended
Repaid
Extended
Repaid
Extended
8.
INSTALMENT CREDIT EXTENDED AND REPAID — Continued
H.
SALES FINANCE COMPANIES: S.A., 1948-63 — Continued
[In millions of dollars]
Automobile paper
Total
Month
Extended
Repaid
Extended
Repaid
Other consumer
goods paper
Extended
Repaid
Repair and modernization loans
Extended
Repaid
Personal loans
Extended
Repaid
1954—Jan..
Feb.
Mar.
Apr..
May
June,
July.
Aug.
Sept.
Oct..
Nov.
Dec.
539
542
544
568
555
614
621
611
625
635
671
735
556
573
589
577
575
593
586
596
593
588
608
609
423
422
417
436
429
483
482
475
486
494
519
582
432
448
457
448
444
462
450
461
459
457
473
475
65
71
75
80
75
79
85
82
87
85
94
98
72
75
81
77
80
80
84
82
82
78
79
81
47
49
51
51
51
51
54
53
52
55
57
54
49
48
48
50
49
49
50
51
50
51
54
51
1955—Jan..
Feb.
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
710
796
859
839
876
875
864
918
927
838
813
833
584
608
616
614
643
663
638
690
699
710
732
693
559
633
709
688
717
717
707
742
751
661
635
648
452
467
480
476
502
518
501
544
553
558
581
547
93
101
90
87
98
99
95
110
110
109
111
118
78
85
80
79
82
85
82
86
87
91
92
87
58
61
60
63
60
58
61
62
63
66
65
64
52
54
54
57
57
58
54
58
57
60
58
58
1956—Jan..
Feb..
Mar.
June.
July.
Aug.,
Sept.
Oct..
Nov.
Dec.
814
841
833
783
793
765
750
782
779
788
915
801
722
726
722
745
769
725
748
744
734
771
776
763
641
663
650
613
613
590
573
602
588
596
598
581
559
572
563
588
599
567
576
582
564
603
603
577
105
108
102
96
107
102
97
101
111
112
237
137
103
91
92
91
108
91
102
93
98
96
101
112
65
68
78
72
70
70
77
77
78
76
79
81
58
61
65
65
60
65
68
66
70
70
70
72
1957—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug..
Sept.,
Oct..
Nov.,
Dec.
899
842
863
834
837
853
902
830
863
834
843
842
821
800
799
790
807
816
828
805
816
822
810
846
647
630
634
604
618
629
628
607
633
602
612
591
624
601
601
601
607
604
619
598
602
604
591
627
171
128
144
141
130
132
174
137
142
142
142
158
124
124
122
111
121
128
124
127
132
136
136
132
78
81
83
87
86
89
97
84
85
87
89
93
70
72
74
76
77
82
83
78
80
80
80
85
1958—Jan..
Feb..
Mar..
Apr..
May.
June.
July.
Aug..
Sept..
Oct..
Nov..
Dec.
825
795
758
762
729
721
777
736
668
728
758
815
843
833
826
851
828
808
837
821
815
801
802
782
601
512
459
478
471
465
472
462
450
455
470
575
626
598
590
607
588
569
576
570
565
553
538
549
128
184
200
187
161
154
208
176
115
172
184
136
134
149
150
154
152
150
170
160
157
154
161
138
93
97
96
94
94
98
93
95
99
97
101
101
81
84
83
88
85
86
87
88
90
91
99
93
1959_jan..
Feb..
Mar..
Apr..
May.
June.
July.
Aug..
Sept..
Oct..
Nov..
867
886
909
931
958
952
968
927
1,009
983
897
875
795
808
799
802
823
799
819
790
822
825
818
843
593
613
609
631
636
645
651
611
663
637
543
518
530
551
547
541
544
537
550
515
552
543
543
562
165
159
185
192
204
190
194
191
212
211
221
229
166
155
150
160
173
156
165
165
169
172
164
168
107
110
109
105
114
112
116
118
125
128
127
121
96
100
99
98
103
103
101
107
101
108
106
110
lday!
Dec.
For note see p.
87
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
H.
SALES FINANCE COMPANIES: S.A., 1948-63 — Continued
[In millions of dollars]
Total
Automobile paper
Other consumer
goods paper
Repair and modernization loans
Personal loans
Month
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
I960—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
954
1,005
997
1,010
973
964
928
954
979
901
923
868
850
831
846
880
859
861
869
882
895
884
906
886
597
651
650
660
610
603
569
576
594
524
550
499
557
559
561
565
570
565
562
575
564
555
566
541
225
225
215
209
223
223
221
239
244
246
244
236
176
159
169
186
170
179
188
190
208
207
217
220
6
7
8
11
13
15
13
15
12
10
9
9
4
4
4
4
4
6
5
5
5
5
8
8
126
122
124
130
127
123
125
124
129
121
120
124
113
109
112
125
115
111
114
112
118
117
115
117
1961—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
845
835
848
835
843
891
839
885
872
925
945
1,084
900
868
897
900
899
926
907
936
906
937
932
943
468
444
462
440
457
490
464
479
466
507
534
528
551
540
548
539
535
552
533
542
531
536
533
524
249
260
253
261
250
256
230
252
262
262
262
403
223
206
228
239
236
246
244
261
248
267
264
283
8
6
6
9
9
12
12
14
10
11
10
10
8
5
3
6
9
9
6
8
6
7
7
9
120
125
127
125
127
133
133
140
134
145
139
143
118
117
118
116
119
119
124
125
121
127
128
127
1962—Jan..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
965
964
961
991
997
984
1,010
1,011
966
1,017
1,071
1,053
926
970
954
944
963
958
960
942
942
950
948
.978
550
573
581
593
609
584
605
616
563
607
642
613
541
533
533
537
538
540
548
536
535
562
547
570
262
237
224
231
217
229
228
221
229
236
246
257
251
298
280
266
279
273
259
252
252
238
242
245
7
8
9
9
11
9
11
12
9
9
8
8
6
8
8
9
8
8
12
8
9
9
9
146
146
147
158
160
162
166
162
165
165
175
175
128
131
133
134
137
137
145
142
147
141
150
154
1963—Jan..
Feb.
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
1,074
1,035
1,022
1,032
1,042
1,016
1,054
1,051
1,021
1,115
1,030
1,134
986
1,035
1,026
1,014
1,017
1,012
1,007
1,000
1,034
1,054
983
1,039
654
635
624
650
646
623
650
632
587
653
605
655
553
569
563
570
570
555
572
566
580
599
557
600
237
213
207
191
200
197
201
211
207
253
226
265
273
296
293
266
273
277
269
258
255
268
252
250
7
6
7
8
8
8
9
9
8
9
7
8
10
8
8
10
8
8
9
10
8
9
8
10
176
181
184
183
188
188
194
199
219
200
192
206
150
162
162
168
166
172
157
166
191
178
166
179
NOTE.—Includes adjustments for differences in trading days.
88
7
8.
INSTALMENT CREDIT EXTENDED AND REPAID—Continued
I. CONSUMER FINANCE COMPANIES: N.S.A., 1950-63
[In millions of dollars]
Period
Automobile paper
Total
Extended
Repaid
Extended
Repaid
Other consumer
goods paper1
Extended
Repaid
Personal loans
Extended
Repaid
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1,997
2,882
3,273
3,491
3,649
4,331
4,746
4,915
4,451
4,826
1,831
2,613
2,962
3,220
3,529
3,965
4,429
4,731
4,490
4,593
139
203
251
218
172
204
189
181
150
189
114
195
229
217
199
178
182
190
168
175
139
196
306
341
387
561
632
520
449
522
112
170
253
308
393
454
601
580
483
468
1,719
2,483
2,716
2,932
3,090
3,565
3,925
4,214
3,853
4,115
1,605
2,248
2,480
2,695
2,937
3,332
3,645
3,962
3,838
3,950
1960
1961
1962
1963
5,192
5,111
5,645
6,181
4,859
4,993
5,312
5,722
178
189
229
236
176
175
208
230
596
522
499
521
540
554
524
495
4,418
4,400
4,917
5,424
4,143
4,263
4,580
4,997
1950—Jan..
Feb.,
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
128
122
159
150
163
173
161
162
147
175
189
268
128
126
152
141
151
154
146
149
146
152
174
212
9
9
12
11
11
13
12
10
11
13
13
15
8
9
8
9
9
9
9
10
12
11
12
9
9
9
11
12
14
13
18
11
18
8
8
8
7
8
9
8
9
13
13
13
112
105
138
130
143
149
137
138
123
144
165
235
112
110
135
125
135
137
128
132
127
127
150
187
1951—Jan..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
185
243
212
234
241
245
249
220
244
272
349
178
176
218
201
214
215
220
228
190
255
244
274
12
13
17
14
20
18
19
20
17
17
16
20
14
13
15
14
16
17
17
18
17
19
18
17
14
12
14
10
16
15
18
19
19
17
17
25
13
13
13
11
16
14
15
14
13
17
15
16
162
160
212
188
198
208
208
210
184
210
239
304
151
150
190
176
182
184
188
196
160
219
211
241
1952—Jan..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
221
216
258
265
284
303
293
261
251
268
260
393
213
208
240
230
256
257
260
241
241
253
248
315
19
17
21
23
23
23
22
19
21
22
18
23
20
18
20
19
20
19
20
18
19
19
18
19
19
17
22
20
24
29
29
26
29
30
21
31
19
15
20
20
21
19
23
24
23
25
21
23
183
182
215
213
237
251
242
216
201
216
221
339
174
175
200
191
215
219
217
199
199
209
209
273
1953_jan..
Feb..
Mar.
Apr.,
May,
June.
July.
Aug..
Sept.
Oct..
Nov.
Dec..
245
241
311
280
276
306
316
273
267
273
292
411
216
248
283
254
261
271
279
260
258
272
274
344
20
16
23
20
20
21
20
17
16
18
11
16
19
17
19
17
17
19
19
18
17
18
18
19
24
25
28
26
26
30
31
25
32
30
29
35
21
24
25
23
24
26
27
24
28
30
26
30
201
200
260
234
230
255
265
231
219
225
252
360
176
207
239
214
220
226
233
218
213
224
230
295
1954_jan..
Feb..
Mar.
Apr.,
May,
June.
241
241
305
303
287
316
253
253
307
288
287
298
11
10
14
16
15
18
17
16
18
17
16
17
26
27
32
32
29
32
33
32
37
33
32
32
204
204
259
255
243
266
203
205
252
238
239
249
For note see p. 91.
89
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
I.
Month
CONSUMER FINANCE COMPANIES: N.S.A., 1950-63 — Continued
[In millions of dollars]
Automobile paper
Total
Extended
Repaid
Extended
Repaid
Other consumer
goods paper1
Extended
Repaid
Personal loans
Extended
Repaid
1954—July.
Aug.,
Sept.
Oct..
Nov.
Dec.
302
288
293
293
337
443
288
289
281
291
324
370
15
16
13
13
14
17
16
17
15
16
17
17
29
29
36
36
36
43
31
31
30
32
35
35
258
243
244
244
287
383
241
241
236
243
272
318
1955—Jan..
Feb..
Mar.
Apr.
May
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
282
290
367
363
339
376
341
364
336
359
392
522
285
279
341
322
319
330
316
338
321
340
352
422
14
16
22
20
19
19
19
16
15
15
14
16
15
13
16
16
15
16
14
13
15
15
14
16
31
33
41
45
45
51
45
53
49
56
48
64
35
32
37
34
37
32
36
44
39
47
36
45
237
241
304
298
275
306
277
295
272
288
330
442
235
234
288
272
267
282
265
282
266
278
302
360
1956—Jan..
Feb..
Mar.
May
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
338
345
414
393
389
403
418
414
337
369
404
521
329
320
383
365
364
369
381
382
341
361
389
444
15
15
16
17
18
18
17
16
13
15
15
13
16
14
15
15
15
14
15
16
15
16
15
15
51
52
54
52
57
52
56
59
48
54
47
48
47
48
50
50
50
48
54
53
50
51
51
49
272
277
343
323
314
333
344
340
276
300
343
459
266
258
318
300
299
306
313
313
277
294
322
381
1957—Jan..
Feb..
Mar.
Apr.
May
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
345
344
390
439
410
406
472
411
358
379
409
553
359
341
391
405
400
382
428
393
366
388
401
478
13
13
14
17
17
19
17
15
14
15
14
13
16
15
16
16
14
15
16
18
16
16
16
16
42
43
44
50
49
43
47
46
40
42
37
41
52
47
51
49
51
46
51
50
47
49
46
45
290
288
331
373
345
345
408
349
304
322
359
499
291
279
324
340
335
321
361
327
304
323
339
417
1958_Jan..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
339
312
362
370
333
376
378
355
340
359
367
562
357
332
387
372
353
378
377
359
361
373
368
475
11
10
12
13
13
13
14
13
13
13
12
13
15
13
15
15
13
14
15
13
14
15
13
14
36
31
34
36
36
36
38
38
38
43
36
46
45
40
45
42
40
40
39
38
39
41
37
40
291
272
316
320
284
326
325
303
289
303
319
502
297
279
327
316
301
324
323
309
308
317
318
420
1959—Jan..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
331
326
371
357
364
420
426
411
393
399
436
590
345
337
378
358
367
400
399
386
377
382
396
467
14
14
15
15
15
17
17
17
16
16
16
17
14
14
15
14
14
14
15
14
16
16
14
15
35
35
43
45
45
48
47
40
42
45
42
54
38
34
41
39
38
40
42
38
39
41
39
40
281
278
313
298
304
356
363
354
335
338
378
518
293
289
322
304
316
346
342
334
322
325
343
412
For note see p. 91.
90
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
I. CONSUMER FINANCE COMPANIES: N.S.A., 1950-63 — Continued
[In millions of dollars]
Automobile paper
Total
Other consumer
goods paper1
Personal loans
Month
I960—j an
Feb
Mar
Apr
May
June
July
AUK . .
Sept
Oct
.
Nov
Dec .
1961 Jan
Feb
Mar
Apr
May
June
July..
Aug
Sect
Oct
Nov.
Dec
. . .
1962—Jan
Feb
Mar
Apr
May
..
July
Aug
Sept
Oct
Nov
Dec.
.
1963—Jan
Feb
Mar
Apr
June
July
Aug
SeDt.
Oct
Nov
Dec
1
.....
Extended
Repaid
Extended
350
378
408
441
408
448
513
469
394
376
429
578
346
369
404
407
391
408
433
425
383
387
419
486
13
15
15
16
17
15
14
16
13
14
15
13
15
15
16
17
15
14
13
15
14
15
14
40
46
47
49
55
59
52
57
55
43
42
14
347
343
410
383
424
445
427
438
377
440
478
600
372
367
428
380
423
430
415
422
386
419
465
485
14
11
15
14
18
17
14
15
14
18
19
20
15
389
377
453
481
454
482
485
495
417
460
515
637
405
376
441
450
444
442
454
454
396
455
480
515
14
16
22
23
18
21
21
23
18
19
15
19
427
410
463
522
484
506
535
534
539
543
512
706
424
406
462
487
467
456
500
481
487
499
476
577
19
16
19
23
21
21
20
19
18
21
16
23
Repaid
Extended
Repaid
Extended
40
43
45
42
44
45
43
50
46
47
46
296
317
345
376
337
374
446
396
326
319
371
291
312
343
348
332
349
376
361
322
325
359
49
47
516
425
34
46
300
312
13
16
35
42
45
50
297
353
310
362
15
15
15
15
14
14
16
15
14
39
45
49
45
49
40
48
48
48
44
47
49
46
44
43
47
50
43
330
360
379
367
373
323
374
411
532
321
362
367
355
364
329
356
399
427
17
15
42
39
49
42
333
322
339
319
17
19
21
16
17
17
17
19
16
17
44
46
42
45
41
43
38
37
41
41
47
51
46
43
44
42
39
39
46
36
387
412
394
416
423
429
361
404
459
577
377
380
377
383
393
395
340
397
418
462
19
15
19
21
20
19
20
18
20
22
18
19
40
35
40
43
43
41
46
45
44
49
45
50
41
39
42
43
42
37
40
42
43
42
42
42
368
359
404
456
420
444
469
470
477
473
451
633
364
352
401
423
405
400
440
421
424
435
416
516
Includes a small amount of home repair and modernization loans, which in recent years have averaged about $1 million a month.
91
Repaid
8.
INSTALMENT CREDIT EXTENDED AND REPAID—Continued
J. CONSUMER FINANCE COMPANIES: S.A., 1950-63
[In millions of dollars]
Total
Automobile paper
Other consumer
goods paper1
Personal loans
Month
Extended
1950—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec.
1951
.i
Jan
Feb
Mar
Apr
May
June
July
...
AUK
SeDt
Oct
Nov
Dec
1952—Jan
Feb
Mar
Apr
May
June
July
AUK
Sept
Oct..
Nov
Dec
1953
Jan
Feb
Mar
Apr
May
June
July
AUK
•
..
.
.
Sept
Oct
Nov
Dec
1954
Jan
Feb
Mar
Apr
May
June
July
....
AUK
Sept
Oct
Nov
Dec
1955—Jan
Feb
Mar
Apr
May
June
.
...
....
Repaid
Repaid
Extended
Repaid
Extended
Repaid
8
11
11
13
12
19
11
15
8
8
8
9
6
8
9
8
9
13
13
13
134
129
130
135
142
143
136
141
140
161
159
169
128
126
125
129
131
135
130
132
135
133
146
155
14
13
15
14
16
17
17
18
17
19
18
17
16
16
14
11
16
15
16
18
18
17
18
21
13
14
12
12
15
14
15
14
13
16
16
16
187
195
200
197
195
196
206
214
218
225
230
220
167
171
176
183
177
181
191
196
179
221
206
200
19
17
21
23
23
23
22
19
21
22
18
23
20
18
20
19
20
19
20
18
19
19
18
19
22
21
23
31
24
29
26
26
26
28
24
26
19
15
20
21
20
20
22
24
23
24
23
22
213
213
210
215
236
247
233
230
228
232
222
237
193
192
193
193
209
224
214
208
214
211
211
218
235
278
273
256
263
267
275
269
273
271
277
283
20
16
23
20
20
21
20
17
16
18
11
16
19
17
19
17
17
19
19
18
17
18
18
19
27
30
29
26
28
28
29
26
29
28
32
29
21
25
24
23
24
27
26
24
28
28
29
29
233
241
254
235
238
241
257
245
245
239
251
253
195
236
230
216
222
221
230
227
228
225
230
235
288
287
290
302
298
301
297
305
319
315
324
323
283
282
285
290
290
295
287
299
298
300
314
306
11
10
14
16
15
18
15
16
13
13
14
17
17
16
18
17
16
17
16
17
15
16
17
17
30
32
32
32
30
30
29
31
34
34
37
36
33
33
34
33
32
34
31
31
31
30
37
34
247
245
244
254
253
253
253
258
272
268
273
270
233
233
233
240
242
244
240
251
252
254
260
255
337
344
355
361
355
360
316
312
318
322
327
321
14
16
22
20
19
19
15
13
16
16
15
16
37
37
41
44
45
47
35
32
34
34
38
32
286
291
292
297
291
294
266
267
268
272
274
273
151
149
151
157
161
167
159
164
163
193
183
199
144
142
142
146
146
152
148
149
154
158
170
180
9
9
12
11
11
13
12
10
11
13
13
15
8
8
9
8
9
9
9
9
10
12
11
12
8
11
9
215
224
231
222
231
229
241
252
253
259
264
261
194
198
203
209
208
212
223
228
209
256
240
233
12
13
17
14
20
18
19
20
17
17
16
20
254
251
254
269
283
299
281
275
275
282
264
286
232
225
233
233
249
263
256
250
256
254
252
259
280
287
306
281
286
290
306
288
290
285
294
298
For notes see p. 94.
Extended
92
U
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
J. CONSUMER FINANCE COMPANIES: S.A., 1950-63 — Continued
[In millions of dollars]
Automobile paper
Total
Month
Extended
Repaid
Extended
Repaid
Other consumer
goods paper1
Extended
Repaid
Personal loans
Extended
Repaid
1955_july.
Aug.
Sept.
Oct..
Nov.
Dec.
337
365
366
387
379
375
320
336
337
358
340
347
19
16
15
15
14
16
14
13
15
15
14
16
45
51
48
56
51
56
37
44
39
47
37
45
273
298
303
316
314
303
269
279
283
296
289
286
1956—Jan..
Feb.
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
389
392
410
397
395
394
406
412
391
378
392
385
353
346
366
372
360
368
381
378
384
361
376
383
15
15
16
17
18
18
17
16
13
15
15
13
16
14
15
15
15
14
15
16
15
16
15
15
58
56
55
51
55
49
54
56
50
50
50
45
47
47
51
49
50
53
52
54
49
52
51
316
321
339
329
322
327
335
340
328
313
327
328
292
285
304
306
296
304
313
310
315
296
309
317
1957—Jan..
Feb..
Mar.
Apr.,
May,
June,
July.
Aug.,
Sept.
Oct..
Nov.
Dec.
394
409
403
429
415
412
442
411
400
395
402
399
383
383
390
397
395
394
411
396
394
392
393
401
13
13
14
17
17
19
17
15
14
15
14
13
16
15
16
16
14
15
16
18
16
16
16
16
47
49
46
48
47
42
43
44
41
40
40
37
50
49
50
48
50
49
49
50
48
47
47
46
334
347
343
364
351
351
382
352
345
340
348
349
317
319
324
333
331
330
346
328
330
329
330
339
1958—Jan..
Feb..
Mar.
Apr.
May
June,
July.
Aug.
Sept.
Oct. ,
Nov.
Dec.
386
373
371
367
343
366
360
367
365
374
374
391
382
375
382
371
356
375
367
373
373
377
375
383
11
10
12
13
13
13
14
13
13
13
12
13
15
13
15
15
13
14
15
13
14
15
13
14
40
35
35
35
35
34
36
38
37
41
40
40
43
43
43
41
40
41
38
39
38
40
39
40
335
328
324
319
295
319
310
316
315
320
322
338
324
319
324
315
303
320
314
321
321
322
323
329
1959_j a n ..
Feb..
Mar.
Apr.
May.
June.
July.
Aug..
Sept.
Oct..
Nov.
Dec.,
384
388
376
355
389
395
407
416
430
423
427
420
377
381
370
355
385
383
387
392
398
394
388
384
14
14
15
15
15
17
17
17
16
16
16
17
14
14
15
14
14
14
15
14
16
16
14
15
40
40
44
44
46
43
44
39
42
44
45
48
37
36
39
38
40
40
41
38
39
41
40
40
330
334
317
328
335
346
360
372
363
366
355
326
331
316
303
331
329
331
340
343
337
334
329
I960—Jan..
Feb..
Mar.
Apr.,
May.
June.
July.
Aug.,
Sept.
Oct..
Nov.
Dec.,
424
424
412
442
426
432
516
446
435
406
407
418
393
394
391
417
399
400
442
409
402
404
399
410
13
15
15
16
17
15
14
16
13
14
15
13
15
15
16
17
15
14
13
15
14
15
14
14
48
51
47
49
52
53
51
52
55
44
43
45
42
44
42
42
44
45
45
48
46
48
44
48
363
358
350
377
357
364
451
378
367
348
349
360
336
335
333
358
340
341
384
346
342
341
341
348
For notes see p. 94.
93
296
8. INSTALMENT CREDIT EXTENDED AND REPAID — Continued
J.
CONSUMER FINANCE COMPANIES: S.A., 1950-63 — Continued
[In millions of dollars]
Automobile paper
Total
Other consumer
goods paper1
Personal loans
Month
Extended
Repaid
Extended
Repaid
Extended
Repaid
Extended
Repaid
1961—Jan..
Feb.
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
405
407
415
397
423
427
421
419
423
464
451
452
406
414
412
398
415
420
415
411
414
428
440
424
14
11
15
14
18
17
14
15
14
18
19
20
15
13
16
15
15
15
15
14
14
16
15
14
39
41
42
41
41
44
44
45
41
49
49
46
46
49
46
45
45
49
47
43
44
47
48
46
352
355
358
342
364
366
363
359
368
397
383
386
345
352
350
338
355
356
353
354
356
365
377
364
1962—Jan..
Feb..
Mar.
446
449
469
480
465
472
473
476
488
471
486
470
434
424
433
452
444
440
445
442
444
449
456
444
14
16
22
23
18
21
21
23
18
19
15
19
17
15
17
19
21
16
17
17
17
19
16
17
47
46
45
46
40
41
39
40
40
37
42
39
48
45
44
49
45
44
44
41
42
38
44
38
385
387
402
411
407
410
413
413
430
415
429
412
369
364
372
384
378
380
384
384
385
392
396
389
489
489
496
504
496
514
504
523
608
564
492
513
455
458
470
471
468
472
473
478
527
501
460
488
19
16
19
23
21
21
20
19
18
21
16
23
19
15
19
21
20
19
20
18
20
22
18
19
44
41
42
42
41
39
42
42
45
50
47
46
40
41
41
40
41
40
39
42
45
42
41
43
426
432
435
439
434
454
442
462
545
493
429
444
396
402
410
410
407
413
414
418
462
437
401
426
MLay!
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.,
1963—Jan..
Feb..
Mar.
M^y!
June,
July.
Aug.,
Sept.
Oct..
Nov.
Dec.
1
Includes a small amount of home repair and modernization loans, which in recent years have averaged about $1 million a month.
NOTE.—Includes adjustments for differences in trading days.
94
9. NET CHANGE IN CONSUMER CREDIT OUTSTANDING
A. TYPE OF CREDIT: N.S.A., 1920-63
[In millions of dollars]
Instalment credit1
Period
Total
Automobile
paper
Total
Noninstalment credit
Other
consumer
goods
paper
Repair
and
modernization
loans
Personal
loans
Total
Singlepayment
loans
Charge
accounts
Service
credit
1920
1921
1922
1923
1924
200
486
373
169
-50
128
321
278
72
-59
-22
231
144
81
-6
135
65
95
2
2
1
2
4
14
13
14
23
35
153
52
72
165
95
48
50
26
82
49
81
-21
33
65
26
24
23
13
18
20
1925
1926
1927
1928
1929
690
512
117
914
858
469
248
-44
616
589
244
63
-212
369
250
172
132
100
148
213
6
2
2
2
-1
47
51
66
97
127
221
264
161
298
269
110
74
67
116
112
67
152
64
136
95
38
30
46
62
-765
-1,036
-1,289
-141
333
-502
-559
-791
51
276
-398
-302
-328
137
121
-112
-218
-380
-35
90
-2
-3
-4
-3
22
10
-36
-79
-48
43
-263
-477
-498
-192
57
-85
-243
-207
-87
55
-163
-198
-261
-88
20
-15
-36
-30
-17
-18
1935
1936
1937
1938
1939
972
1,185
573
-578
852
818
930
371
-432
817
378
380
122
-395
398
111
290
215
-63
178
216
111
-145
-1
80
113
149
179
27
161
154
255
202
-146
35
88
137
94
-19
14
48
74
76
-101
11
18
44
32
-26
10
1940
1941
1942
1943
1944
1,116
834
-3,189
-1,082
210
1,011
571
-2,919
-1,030
40
574
387
-1,716
-387
42
207
102
-734
-376
-28
73
5
-121
-125
-11
157
77
-348
-142
37
105
263
-270
-52
170
13
45
-132
-100
11
57
174
-201
-4
77
35
44
63
52
82
1945
1946
1947
1948
1949
554
2,719
3,214
2,849
2,917
286
1,710
2,523
2,301
2,594
58
526
943
1,094
1,537
25
474
853
758
805
63
223
313
135
45
140
487
414
314
207
268
1,009
691
548
323
122
376
234
89
87
95
464
305
341
132
51
169
152
118
104
1950
1951
1952
1953
1954
4,107
1,241
4,808
3,873
1,071
3,113
591
4,109
3,602
563
1,519
-102
1,761
2,102
-26
1,093
81
1,294
605
-28
118
69
300
225
6
383
543
754
670
611
994
650
699
271
508
289
113
186
67
221
513
333
430
144
211
192
204
83
60
76
1955
1956
1957
1958
1959..
6,366
3,504
2,637
159
6,411
5,338
2,814
2,148
-225
5,601
3,652
960
920
-1,189
2,268
890
965
238
184
1,602
77
212
197
245
463
719
678
793
534
1,269
1,028
690
489
384
810
594
251
111
263
502
310
200
151
-86
124
239
227
207
264
,
4,487
1,651
5,485
6,726
3,588
696
4,506
5,711
1,270
-465
2,318
2,659
896
332
746
1,161
330
53
55
143
1,093
777
1,388
1,748
899
955
979
1,015
378
629
320
503
225
—5
360
187
296
331
299
325
1940—Jan..
Feb.
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
-174
-137
79
178
238
186
14
100
49
120
106
357
-16
70
130
163
162
64
76
30
74
97
170
19
30
52
87
100
93
55
27
-7
33
40
45
-44
-45
0
28
37
38
-9
21
17
30
40
94
-1
-2
-3
5
5
8
8
15
14
5
12
7
10
8
21
10
21
23
10
13
6
6
5
24
-158
-128
9
48
75
24
-50
24
19
46
9
187
-7
-9
-7
-3
1
2
2
4
8
9
6
7
-162
-131
5
41
57
16
-48
15
15
47
14
188
11
12
11
10
17
6
-4
5
-4
-10
-11
-8
1941—Jan..
Feb..
Mar.
-172
-87
102
354
379
210
79
143
-33
-118
-155
132
9
32
86
252
257
173
106
86
-87
-133
-124
-58
41
47
76
159
167
132
82
38
-72
-88
-93
-102
-69
-26
-3
66
68
24
10
32
-8
-30
-11
49
-2
0
-7
4
3
4
2
7
8
1
-9
-6
11
11
20
23
19
13
12
9
-15
-16
-11
1
-153
-119
16
102
122
37
-27
57
54
15
-31
190
1
-4
11
20
6
-3
-1
2
6
6
3
-161
-133
7
81
83
23
-23
58
51
19
-27
196
7
16
13
10
19
8
-1
0
1
322
1930
1931
1932
1933......
1934
1960
1961
1962
1963
M*ay
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
Digitized for For
FRASER
note see p. 99.
Q
95
-10
-10
-9
9. NET CHANGE IN CONSUMER CREDIT OUTSTANDING — Continued
A. TYPE OF CREDIT: N.S.A., 1920-63 — Continued
[In millions of dollars]
Instalment credit1
Month
Total
consumer
credit
Other
consumer
goods
paper
Noninstalment credit
Repair
and
modernization
loans
Total
Automobile
paper
May!
June.
July.
Aug.,
Sept.
Oct..
Nov.
Dec..
-421
-423
-209
-191
-257
-363
-387
-299
-207
-188
-231
-13
-289
-269
-191
-225
-270
-291
-285
-274
-242
-238
-202
-143
-162
-168
-147
-157
-149
-146
-138
-137
-135
-136
-118
-123
-82
-65
-26
-37
-73
-104
-101
-83
-64
-53
-47
1
-15
-13
-14
-10
-13
-14
-16
-13
-5
-6
-1
-1
-30
-23
-4
-21
-35
-27
-30
-41
-38
-43
-36
-20
1943—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug..
Sept.
Oct..
Nov.
Dec..
-425
-302
-149
-52
-78
-61
-163
-91
27
38
11
163
-246
-207
-147
-112
-113
-66
-91
-59
-18
-22
-4
55
-96
-78
-69
-44
-32
-27
-20
-7
-1
-5
-4
-4
-96
-71
-57
-28
-45
-35
-46
-32
-10
-2
7
39
-7
-18
-19
-16
-12
-10
-10
-10
-5
-7
-6
-5
-47
-40
-2
-24
-24
6
-15
-10
1944_Jan..
Feb..
Mar.
-92
-61
16
M*ay!
June.
July.
Aug..
Sept.
Oct..
Nov.,
Dec..
-287
-174
56
49
119
58
-50
0
41
58
72
268
10
23
4
4
7
18
31
97
-9
2
2
7
14
19
18
8
-2
-2
-5
-5
-54
-44
-15
-11
-3
-7
-17
-2
8
25
29
63
1945_jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug..
Sept.
Oct..
Nov.,
Dec..
-244
-185
99
-13
90
82
-44
-17
23
173
186
404
-60
-57
31
-12
9
28
1
-5
15
73
94
169
-12
-10
5
-1
-1
7
7
2
9
11
18
23
1946__Jan..
Feb..
Mar.,
Apr..
May.
June.
July.
Aug..
Sept.,
Oct..
Nov..
Dec..
-96
6
228
315
279
173
89
277
233
298
335
582
21
46
102
156
141
127
122
162
137
179
198
319
1947_jan..
Feb..
Mar.
-85
3
283
355
394
239
97
172
275
346
381
754
119
117
205
241
229
214
159
161
149
212
287
430
1942—Jan..
Feb..
Mar.
M^y.
June.
July.
Aug.,
Sept.
Oct..
Nov.
Dec..
-17
Single
payment
loans
Charge
accounts
Service
credit
-132
-154
-18
34
13
-72
-102
-25
35
50
-29
130
-12
-10
-7
-13
-15
-17
-12
-9
-8
-8
-6
-15
-129
-156
-17
40
5
-60
-84
-17
40
61
-28
144
9
12
6
7
23
5
-6
1
3
-3
5
1
I
25
-179
-95
-2
60
35
5
-72
-32
45
60
15
108
-13
-18
-9
-2
-6
-13
-21
-10
16
13
-3
-34
-169
-96
-6
50
17
12
-42
-19
32
54
18
145
3
19
13
12
24
6
-9
-3
-3
-7
0
-3
-6
-4
-4
-4
-3
1
0
2
1
0
3
3
-23
-10
33
-9
2
10
3
-4
0
-5
4
36
-195
-113
40
66
109
35
-54
-4
34
40
41
171
-24
-17
0
16
20
29
-1
-4
-9
4
-1
-2
-172
-120
25
37
55
-3
-43
2
46
41
36
173
1
24
15
13
34
9
-10
-2
-3
-5
6
0
-37
-39
-2
-15
-10
-3
-16
-7
2
35
36
81
1
2
4
1
7
8
5
6
3
10
9
7
-12
-10
24
3
13
16
5
-6
1
17
31
58
-184
-128
68
-1
81
54
-45
-12
8
100
92
235
-4
-3
0
20
28
32
5
-5
-10
5
21
33
-174
-146
58
-28
25
16
-38
0
23
98
64
197
-6
21
10
7
28
6
-12
-7
-5
-3
7
5
20
20
30
53
49
38
43
51
47
53
55
67
-16
-4
40
39
26
24
39
34
63
70
142
8
9
14
17
17
19
20
25
22
26
22
24
9
21
41
46
36
44
35
47
34
37
51
86
-117
-40
126
159
138
46
-33
115
96
119
137
263
32
30
33
31
25
18
21
29
32
36
43
46
-149
-102
58
106
67
13
-44
82
61
84
81
207
0
32
35
22
46
15
-10
4
3
-1
13
10
68
77
99
97
96
86
68
64
54
61
83
90
-3
11
46
73
70
64
30
36
58
95
135
238
17
4
17
31
28
34
32
36
39
33
26
16
37
25
43
40
35
30
29
25
-2
23
43
86
-204
-114
78
114
165
25
-62
11
126
134
94
324
37
20
11
13
21
23
15
19
18
25
18
14
-247
-168
36
80
98
-18
-70
-9
102
115
72
314
6
34
31
21
46
20
-7
1
6
-6
4
-4
17
For note see p. 99.
96
Personal
loans
-2
-8
Total
9. NET CHANGE IN CONSUMER CREDIT OUTSTANDING — Continued
A. TYPE OF CREDIT: N.S.A., 1920-63 — Continued
[In millions of dollars]
Instalment credit1
Month
Total
consumer
credit
Total
1948—Jan..
Feb..
Mar.
Automobile
paper
Other
consumer
goods
paper
Nonmstalment credit
Repair
and
modernization
loans
Personal
loans
Total
Single
payment
loans
Charge
accounts
Service
credit
May!
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
-131
-95
362
432
363
273
154
212
330
155
163
631
118
85
280
299
226
199
206
218
223
48
108
291
83
75
164
150
93
88
124
119
91
23
40
44
16
-18
63
89
82
57
42
65
101
25
49
187
-5
7
14
29
25
14
9
10
14
9
11
-2
24
21
39
31
26
40
31
24
17
-9
8
62
-249
-180
82
133
137
74
52
-6
107
107
55
340
11
16
17
4
25
8
-14
—1
8
-5
15
5
-263
-224
43
99
86
54
-13
96
114
49
344
3
28
22
30
26
12
6
8
3
-2
-9
-9
1949_jan..
Feb..
Mar.
Apr.,
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
-445
-300
94
394
393
297
109
303
403
391
403
875
-104
-37
119
231
304
277
210
294
271
286
288
455
-8
28
141
179
202
159
162
196
146
142
123
67
-67
-33
-28
35
75
59
32
62
103
125
128
314
-23
-20
-8
0
11
21
-2
22
9
16
16
3
-6
-12
14
17
16
38
18
14
13
3
21
71
-341
-263
-25
163
89
20
-101
9
132
105
115
420
-3
-3
-7
-13
17
5
-3
9
15
17
40
13
-342
-277
-35
144
54
6
-103
1
108
91
82
403
4
17
17
32
18
9
5
-1
9
-3
-7
4
1950—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
347
-171
263
460
629
587
702
596
524
176
16
672
9
70
219
248
398
496
548
467
407
118
-78
211
58
104
151
156
196
284
321
207
159
21
-79
-59
-35
-28
47
70
127
117
155
190
197
65
-23
211
-9
-2
-15
0
25
25
23
26
25
18
7
-5
-5
-4
36
22
50
70
49
44
26
14
17
64
356
-241
44
212
231
91
154
129
117
58
94
461
-6
1
19
30
70
-3
26
14
15
72
101
-50
-345
-264
10
133
130
63
96
110
92
3
-6
491
-5
22
15
49
31
31
32
5
10
-17
-1
20
1951—Jan..
Feb..
Mar.
Apr.,
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
-304
-340
34
-38
206
58
-194
271
253
227
288
780
-139
-155
-27
-61
55
61
-68
253
144
60
120
348
-90
-74
-35
-2
59
64
-4
116
49
-62
-47
-76
-72
-88
-48
-89
-57
-52
-104
65
35
89
94
308
-15
-13
1
2
13
1
9
17
16
19
18
3
38
20
57
28
40
48
31
55
44
14
55
113
-165
-185
61
23
151
-3
-126
18
109
167
168
432
5
36
44
17
50
-35
-14
-8
-4
19
46
-43
-178
-263
-17
-27
74
-1
-125
26
90
168
129
457
8
42
34
33
27
33
13
0
23
-20
-7
18
1952—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug..
Sept.
Oct..
Nov.
Dec..
-551
-295
-47
386
815
782
344
306
439
690
504
1,435
-173
-91
2
202
600
754
456
285
340
547
363
824
-91
-33
-24
92
333
413
216
68
109
238
211
229
-104
-93
-36
20
145
189
132
119
148
226
86
462
-11
—1
2
20
41
42
42
38
43
48
29
11
33
36
64
70
81
110
66
60
40
35
37
122
-378
-204
-49
184
215
28
-112
21
99
143
141
611
7
46
22
12
52
0
-34
1
7
-2
81
-6
-376
-291
-89
157
152
14
-82
15
86
166
63
615
-9
41
18
15
11
14
4
5
6
-21
-3
2
1953_jan..
Feb..
Mar.
-190
-259
467
569
659
394
234
300
239
304
180
976
183
134
430
401
465
451
420
259
171
186
151
351
166
194
304
296
303
245
273
163
95
103
23
-63
-29
-75
30
24
76
87
50
32
10
43
63
294
-5
1
11
20
29
31
28
24
33
28
24
1
51
14
85
61
57
88
69
40
33
12
41
119
-373
-393
37
168
194
-57
-186
41
68
118
29
625
51
-27
97
34
51
-102
-114
58
4
6
-23
32
-414
-380
-62
109
117
30
-77
-35
56
139
56
605
-10
14
2
25
26
15
5
18
8
-27
-4
-12
June.
July.
Aug.,
Sept.
Oct..
Nov.
Dec..
For note see p. 99.
97
AA
9. NET CHANGE IN CONSUMER CREDIT OUTSTANDING — Continued
A. TYPE OF CREDIT: N.S.A., 1920-63 — Continued
[In millions of dollars]
Instalment credit1
Month
Total
consumer
credit
Total
Automobile
paper
1954_jan..
Feb..
Mar.
Apr.
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
-843
-662
-334
284
252
262
79
30
134
218
290
1,361
-367
-273
-205
47
61
233
157
82
63
78
102
585
-185
-153
-94
1955—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
-526
-183
339
817
784
898
378
712
613
388
564
1,583
-56
92
442
545
613
765
532
636
492
251
289
737
1956—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
659
-349
273
458
649
476
28
411
253
118
518
1,328
1957_jan..
Feb..
Mar.
Apr..
May,
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
Other
consumer
goods
paper
Noninstalment credit
Repair
and
modernization
loans
Personal
loans
Total
Single
payment
loans
Charge
accounts
89
-157
-132
-159
-35
-40
5
-27
-20
4
62
97
374
-15
-14
-10
4
19
2
8
11
7
6
-2
-10
-10
26
58
65
39
81
58
44
40
23
55
132
-476
-389
-129
237
191
29
-78
-52
71
140
187
776
-49
-30
18
32
127
21
-26
10
26
43
32
17
-487
-391
-139
192
78
34
-47
-46
58
114
145
700
52
167
382
386
458
540
441
479
355
169
79
143
-83
-105
-9
42
69
105
41
80
76
68
148
459
-42
-22
-19
5
14
20
14
28
28
25
14
12
17
52
88
112
72
100
37
50
33
-11
47
123
-470
-275
-103
272
171
133
-154
75
121
137
275
846
-43
66
63
22
105
105
-63
66
54
27
130
62
-499
-421
-130
229
95
37
-77
25
87
130
118
716
-118
37
194
312
344
386
243
367
90
136
248
575
14
91
165
146
165
195
125
148
5
-52
-32
-13
-116
-87
-53
59
84
97
39
110
39
141
200
449
-27
-6
7
18
39
30
20
32
33
33
25
6
10
38
74
89
56
62
58
79
11
11
54
132
-541
-386
79
146
305
90
-215
44
163
-18
270
753
-79
10
116
38
164
-11
-82
25
56
-70
89
-5
-564
-444
-56
65
170
111
-119
35
98
89
147
668
-814
-446
-63
518
658
474
202
388
116
38
232
1,334
-252
-97
25
244
373
427
353
308
81
72
511
-56
13
88
152
184
234
186
152
53
15
-48
-53
-185
-150
-115
-28
78
78
42
27
4
14
64
409
-15
-4
7
14
35
28
25
43
25
29
17
-5
5
44
45
106
78
87
99
86
20
23
40
160
-562
-349
-88
274
285
47
-151
80
13
-43
160
823
-48
37
49
13
133
-21
-88
20
17
-73
23
49
-551
-464
-153
213
171
61
-43
63
4
67
95
688
1958—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug..
Sept.
Oct..
Nov.
Dec..
-894
-927
-521
139
298
137
-91
172
-29
33
256
1,587
-379
-436
-327
-54
20
101
71
88
-92
-21
75
730
-164
-195
-228
-95
-71
-15
-16
-44
-179
-162
-90
70
-209
-232
-101
-66
25
20
5
42
29
89
112
471
-6
-15
-6
11
39
25
26
43
40
38
33
15
-1
6
7
95
28
72
57
46
19
12
21
174
-515
-491
-194
193
278
36
-162
84
63
54
181
857
-2
10
-3
-5
88
47
-57
56
21
-22
67
63
-549
-573
-197
172
205
1959—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.,
Sept.
Oct..
Nov.
Dec.
-454
-316
167
733
888
879
514
801
562
506
543
1,590
-53
6
217
522
594
776
633
760
522
480
350
796
29
61
150
306
311
426
348
353
182
179
7
-87
-85
-90
-24
70
140
163
115
176
142
171
205
617
-14
2
22
34
60
55
58
63
59
50
41
32
16
33
68
112
81
131
111
168
139
80
98
233
-401
-322
-50
211
294
103
-119
41
40
26
193
794
-46
94
54
60
108
65
-35
72
47
-34
63
54
-412
-499
-109
105
196
45
-66
-39
7
90
81
645
103
13
43
145
118
47
12
-13
-48
For note see p. 99.
98
-88
22
54
109
71
690
9. NET CHANGE IN CONSUMER CREDIT OUTSTANDING — Continued
A. TYPE OF CREDIT: N.S.A., 1920-63 — Continued
[In millions of dollars]
Instalment credit1
Month
Total
consumer
credit
Total
Automobile
paper
Other
consumer
goods
paper
Nomnstalment credit
Repair
and
modernization
loans
Personal
loans
Total
Single
payment
loans
Charge
accounts
Service
credit
I960—Jan..
Feb..
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
-599
-231
144
1,048
666
700
212
371
259
131
323
1,463
-109
44
231
604
469
619
345
382
191
84
136
592
-31
101
195
339
253
315
131
123
-3
-43
-10
-101
-82
-125
-58
72
64
132
34
64
87
89
95
522
-8
11
18
40
63
50
36
53
35
21
14
-4
11
57
76
151
89
122
143
141
73
18
38
175
-490
-275
-87
444
197
81
-133
-11
68
47
187
871
-70
87
79
55
106
-2
-11
28
59
-28
46
29
-479
-445
-164
312
107
94
-116
-23
21
93
101
724
59
83
-2
77
-16
-11
-6
-16
-12
-18
40
118
1961—Jan..
Feb.
Mar.
Apr.
May
June
July.
Aug.
Sept.
Oct..
Nov.
Dec.
-1,017
-868
-217
94
409
382
-64
326
74
191
573
1,767
-488
-470
-206
-47
161
303
53
215
-21
160
241
794
-234
-212
-102
-53
56
130
13
8
-159
19
58
13
-173
-229
-135
-91
12
34
-13
56
69
87
120
595
-37
-25
-8
6
29
22
9
36
19
5
11
-13
-42
-3
39
90
65
119
44
116
50
51
51
199
-529
-398
-11
141
248
79
-117
111
95
31
332
973
-5
69
37
-23
127
26
-6
91
93
-22
131
111
-575
-567
-46
88
146
65
-113
33
6
82
153
723
51
100
-2
76
-25
-12
2
-13
-4
-29
48
139
1962—Jan..
Feb..
Mar.
Apr.
May
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec.
-989
-605
126
1,005
958
785
246
633
192
412
762
1,962
-339
-209
96
636
627
717
434
531
124
382
526
983
-95
29
182
371
365
404
291
248
-46
221
223
125
-176
-225
-148
65
77
116
8
63
54
86
183
645
-43
-36
-13
7
37
28
21
33
12
11
8
-13
-25
23
75
193
148
169
114
186
103
64
111
226
-650
-396
30
369
331
68
-188
102
68
30
236
979
-212
52
149
90
148
23
-35
50
2
-48
65
36
-478
-554
-124
207
221
48
-133
69
62
126
116
800
40
106
5
72
-38
-3
-20
-17
4
-48
55
143
1963—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
-702
-473
160
1,018
968
852
504
817
230
550
658
2,144
-114
-68
223
731
678
823
587
632
192
539
438
1,050
42
96
252
446
418
442
357
226
-94
246
136
92
-152
-203
-101
48
75
150
37
148
95
143
201
720
-35
-26
-8
23
45
36
35
41
20
23
7
-18
31
65
80
214
140
195
158
217
171
127
94
256
-588
-405
-63
287
290
29
-83
185
38
11
220
1,094
-26
49
60
23
112
35
-26
106
55
-14
64
65
-613
-560
-137
207
212
-10
-23
79
-6
65
101
872
51
106
14
57
-34
4
-34
0
-11
-40
55
157
1
Net changes in instalment credit outstanding equal extensions less repayments except in 1959, when the differences do not reflect the introduction of
outstanding balances for Alaska and Hawaii.
99
NET CHANGE IN CONSUMER CREDIT OUTSTANDING — Continued
B. TYPE OF CREDIT: S.A., 1940-63
[In millions of dollars]
Noninstalment credit
Instalment credit
Month
Total
Total
Automobile
paper
Other
consumer
goods
paper
1940—Jan...
Feb...
Mar..
Apr..,
May..
June.,
July..
Aug..
Sept..
Oct...
Nov..
Dec..
87
72
84
59
86
121
64
79
69
119
133
136
85
70
76
67
85
105
59
67
73
98
110
116
55
62
49
46
46
41
24
12
28
62
65
84
13
-5
16
9
16
42
16
27
21
16
21
15
1941—Jan...
Feb...
Mar..
125
154
103
219
214
134
130
137
-43
-124
-140
-93
113
143
88
175
165
100
92
86
-58
-106
-121
-106
102
101
77
111
100
68
41
22
-43
-60
-72
-60
-14
20
11
40
46
26
36
44
-8
-41
-32
-26
1942—Jan...
Feb...
Mar..
Apr...
May..
June.,
July..
Aug..
Sept..
Oct...
Nov..
Dec..
-149
-238
-218
-291
-352
-376
-315
-296
-235
-220
-248
-218
-197
-223
-195
-259
-296
-302
-275
-273
-235
-236
-221
-207
-142
-166
-145
-172
-169
-151
-142
-142
-126
-127
-119
-115
1943—Jan...
Feb...
Mar..
Apr..,
May.,
June..
July..
Aug..
Sept..
Oct...
Nov..
Dec..,
-208
-149
-165
-121
-148
-79
-81
-73
-4
-15
-43
-192
-167
-149
-126
-121
-74
-75
-55
-16
-26
-16
-13
1944_Jan...
Feb..
Mar..
M*ay!
June.
July..
Aug..
Sept..
Oct..
Nov..
Dec..
-57
-17
21
-8
49
38
31
27
26
11
34
36
1945—Jan...
Feb...
Mar..
Apr...
May..
June..
July..
Aug..
Sept..
Oct...
Nov..
Dec...
14
-22
58
-64
19
57
40
12
20
119
131
152
May! 1
June..
July..
Aug..
Sept..
Oct...
Nov..
Dec...
Personal
loans
Total
1
16
5
12
-4
21
23
20
-9
-7
23
18
4
22
17
4
13
15
-13
-5
-8
-13
-25
-27
-16
-56
-79
-104
-86
-82
-69
-69
-65
-56
-15
-11
-12
-10
-13
-15
-16
-14
-6
-7
-1
-1
-94
-77
-65
-50
-40
-33
-24
-10
-53
-39
-48
-38
-46
-32
-27
-30
-15
-18
-13
-17
-33
-13
2
-26
6
13
18
12
11
13
15
22
-2
6
-18
-14
g
-16
-1
-3
1
3
7
8
6
-13
23
-15
4
17
14
5
24
65
77
79
-4
-6
2
-5
-7
1
6
12
10
5
-1
4
2
-10
8
-16
-9
1
1
-1
1
18
15
15
100
Singlepayment
loans
Charge
accounts
A
16
12
11
7
18
16
11
15
12
17
12
10
For note see p. 103.
Repair
and
modernization
loans
-2
-1
-5
-6
2
5
5
7
5
2
5
3
6
-7
5
11
-3
-1
-9
15
20
13
12
11
15
44
49
34
38
51
15
-18
-19
13
6
4
1
8
13
6
2
-1
1
2
10
31
34
22
30
47
11
-21
-20
-15
-19
-22
-21
-35
-32
-31
-35
-34
-33
-36
-35
48
-15
-23
-32
-56
-74
-40
-23
16
-27
-11
-4
-4
-5
-18
-21
-19
-6
-9
-10
-12
-10
-11
45
-10
-18
-15
-39
-58
-38
-20
3
19
-28
-11
-7
-17
-18
-15
-12
-11
-10
-11
-6
-7
-6
-5
-38
-34
-18
-23
-23
2
-14
-4
5
-1
1
5
-16
18
-16
5
-27
-5
-6
-18
16
22
1
-30
-5
-12
-7
-10
-14
-19
-13
-9
17
10
-6
-29
-14
24
-14
9
-16
10
4
-13
-5
8
3
-5
-4
-3
-3
-4
-3
-9
-2
13
-7
4
4
7
3
5
2
5
12
-24
-4
19
18
43
25
13
15
15
-2
19
14
-18
-12
2
8
11
20
5
-12
5
-1
8
5
14
9
7
2
9
25
31
26
8
-9
35
-49
15
40
26
7
-4
54
54
73
5
6
8
13
12
3
12
7
2
4
A
2
2
2
2
5
6
2
1
4
-4
2
-2
2
3
12
19
21
11
2
-4
5
19
31
10
4
22
-2
3
8
13
-10
13
10
2
-14
36
-62
-8
17
9
3
-6
41
26
31
9. NET CHANGE IN CONSUMER CREDIT OUTSTANDING — Continued
B.
TYPE OF CREDIT: S.A., 1940-63—Continued
[In millions of dollars]
Instalment credit
Month
Total
Total
1946—Jan..
Feb..
Mar.
Automobile
paper
Noninstalment credit
Other
consumer
goods
paper
Repair
and
modernization
loans
Personal
loans
Total
Singlepayment
loans
Charge
accounts
Service
credit
186
219
186
247
192
155
195
310
221
230
258
235
99
118
94
143
129
116
137
173
158
173
176
194
30
31
23
40
38
30
35
46
51
58
64
80
28
38
30
40
38
33
49
51
37
44
41
45
12
14
15
17
16
16
19
23
20
23
21
27
29
35
26
46
37
37
34
53
50
48
50
42
87
101
92
104
63
39
58
137
63
57
82
41
35
34
35
27
16
9
28
35
38
37
38
41
42
53
36
62
27
19
22
88
12
8
27
-18
10
14
21
15
20
11
8
14
13
12
17
18
291
298
253
257
292
221
209
201
227
280
315
309
230
227
203
218
205
200
169
165
156
213
277
260
89
99
82
72
76
73
51
54
59
74
103
111
58
72
72
75
71
77
57
46
53
74
107
91
24
12
19
31
27
29
32
33
34
28
25
19
59
44
30
40
31
21
29
32
10
37
42
39
61
71
50
39
87
21
40
36
71
67
38
49
36
25
15
14
11
19
24
24
20
25
10
8
9
30
19
16
55
-15
8
1
37
33
16
35
16
16
16
9
21
17
8
11
14
9
12
6
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
319
265
345
303
253
242
261
219
243
101
89
147
261
221
276
266
198
169
212
198
210
64
99
127
123
108
136
115
70
67
101
97
90
45
65
77
90
56
94
93
82
67
73
69
80
8
18
28
5
16
17
29
23
7
9
5
8
5
10
1
43
41
29
29
23
28
29
27
32
6
6
21
58
44
69
37
55
73
49
21
33
37
-10
20
13
20
18
10
12
11
-3
3
6
-8
-4
9
34
12
43
14
37
54
35
4
16
31
-10
10
11
12
8
13
6
8
17
14
11
14
4
1
1949—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
55
108
128
276
258
240
197
265
297
364
347
356
53
114
147
219
260
223
203
230
240
324
304
277
41
63
124
146
163
122
129
149
137
177
164
122
14
54
15
53
77
70
62
52
76
112
101
119
-13
-10
11
7
10
19
12
18
14
14
24
26
24
28
2
-6
-19
57
-2
17
-6
35
57
40
43
79
3
0
—6
-8
-3
15
8
15
15
10
10
31
-12
-7
-20
55
-2
-3
-24
14
29
15
23
38
11
1
7
10
3
5
10
6
13
15
10
10
1950—Jan..
Feb..
Mar.
Apr..
May.
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
228
312
334
375
437
485
782
531
406
128
-69
90
231
287
263
265
311
392
530
373
364
144
-70
23
149
179
143
133
130
216
264
147
151
54
-49
2
62
77
100
107
119
115
197
167
159
39
-49
6
13
-9
1
19
16
21
18
16
11
6
14
18
29
24
43
45
48
41
38
40
22
21
-3
25
71
110
126
93
252
158
42
-16
1
67
5
1
14
33
39
18
40
24
19
62
53
-11
-13
18
52
48
68
52
179
123
10
-86
-69
56
5
6
5
29
19
23
33
11
13
8
17
22
1951—Jan..
Feb..
Mar.
326
212
166
-137
-24
-39
-132
185
167
156
208
103
114
66
58
-41
-39
-48
-121
150
125
74
143
110
-2
-22
-21
-31
-19
-11
-67
53
45
-28
54
42
24
-43
-58
-51
-87
37
8
47
67
41
-2
7
3
6
-6
6
9
9
10
16
11
62
48
48
30
32
20
27
51
63
45
60
57
212
146
108
-96
15
9
-11
35
42
82
65
-7
16
34
27
19
10
4,
9
1
175
88
56
-129
-12
-8
-34
29
19
62
55
-21
21
24
25
14
17
21
14
M^y!
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
1947—Jan..
Feb..
Mar.
M*ay!
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
1948—Jan..
Feb..
Mar.
Mly.
M*ay!
June.
July.
Aug.
Sept.
Oct..
Nov.
Dec..
1
For note see p. 103.
101
8
13
15
9
15
10
1
-4
23
10
9
18
9. NET CHANGE IN CONSUMER CREDIT OUTSTANDING — Continued
B. TYPE OF CREDIT: S.A., 1940-63—Continued
[In millions of dollars]
Noninstalment credit
Instalment credit
Month
Total
1952—Jan
Feb
Mar
Apr
May
June
July
.
...
AUK
Sept
Oct
Nov
Dec
1953
Jan
Feb
Mar
Apr
May
June
July
Aug.
Sept
..
..
Oct
Nov
Dec
1954—Jan
Feb
Mar
... .
May
June
July
Aug
Sept
Oct
Nov
Dec
Jan..
Feb
Mar
Apr
May
June
July
AUK
1956
. .
Automobile
paper
Repair
and
modernization
loans
Personal
loans
Total
163
302
119
303
121
170
109
232
24
43
_9
60
28
49
54
82
9
15
10
22
60
63
54
68
42
132
10
71
519
618
380
267
465
574
370
215
215
284
121
21
144
180
154
103
32
33
35
27
74
77
60
64
54
44
10
52
357
581
482
323
536
432
108
266
296
125
165
61
33
35
28
57
70
47
Singlepayment
loans
17
48
-2
12
31
1
10
Charge
accounts
Service
credit
19
61
-1
61
6
23
13
-2
56
10
5
35
-2
3
4
7
34
45
50
7
-5
46
23
39
4
11
10
4
640
562
332
149
21
60
78
22
52
639
539
322
108
22
87
100
64
33
3
439
657
420
348
186
440
542
399
334
236
312
317
245
186
105
70
127
80
78
59
20
26
20
18
20
38
72
54
52
52
-1
115
21
14
-50
-12
60
39
-17
-76
12
51
-24
18
23
-1
4
6
13
263
249
167
205
146
308
179
159
190
204
162
103
97
133
107
62
21
-7
-7
21
66
42
48
49
53
-45
70
8
15
-58
-64
58
4
4
-43
16
-8
-2
11
-25
3
20
6
95
72
13
-7
18
13
21
15
23
9
57
23
37
-4
10
-10
-59
1
-65
13
-97
-70
-35
45
-57
9
5
3
31
50
45
6
-12
-15
-15
-17
-10
-5
12
-1
— 7
-88
40
74
-112
68
27
Apr
1955
Other
consumer
goods
paper
Total
— 87
34
52
26
-4
28
-47
-38
— 58
17
-34
2
9
47
36
10
4
-4
18
58
160
25
22
62
24
7
21
-6
-25
-13
-18
-7
-2
47
56
47
36
98
1
23
37
12
21
38
-13
-8
23
2
110
188
209
327
69
121
159
274
19
39
59
176
-4
22
37
37
-4
-4
-2
-4
58
64
65
65
41
67
50
53
24
43
8
20
8
2
47
39
9
22
-5
-6
416
322
191
79
-18
70
94
9
29
56
542
566
627
491
644
418
571
520
486
525
284
390
332
367
368
52
107
90
54
75
-4
-5
6
9
86
79
92
67
73
124
-5
107
5
119
68
31
24
29
110
15
-6
78
-18
7
41
-30
5
-6
2
483
582
445
489
338
361
73
68
5
14
29
46
38
93
11
64
18
28
9
1
16
56
81
43
40
-2
15
8
19
27
27
15
2
Sept
Oct.
Nov
Dec
592
511
373
66
389
433
290
299
224
140
27
97
24
54
99
134
53
92
506
354
215
79
23
37
152
71
60
Jan
Feb
Mar
309
426
312
388
170
202
69
100
7
20
66
66
-3
38
-28
10
-38
23
63
5
466
337
190
48
22
77
129
77
29
23
Apr
May
375
284
258
157
288
248
141
380
184
302
218
180
154
241
112
175
268
172
90
76
60
31
61
27
8
25
51
125
66
62
66
99
29
95
157
60
21
21
20
11
16
22
23
21
16
66
55
38
46
65
34
49
65
45
73
66
78
3
47
136
34
112
12
41
73
-5
7
15
44
-29
44
-5
6
-10
74
-19
29
63
-22
56
-14
26
3
9
15
3
29
17
12
31
182
348
299
172
261
220
107
119
114
-23
43
28
— 12
58
45
43
17
2
22
21
22
66
78
56
10
87
79
17
31
13
-9
32
46
2
24
20
16
72
-32
13
-79
34
13
18
17
25
12
71
64
87
72
43
146
35
70
63
9
43
-18
3
3
4
88
24
51
48
-14
15
29
16
-44
-20
-42
-1
49
-27
42
7
-10
July
AUK
Sept
Oct
Nov
Dec
1957_j a n
Feb
Mar
Apr
May
June
July
AUK
Sept
Oct
Nov
Dec
131
163
87
376
253
292
244
153
230
218
222
181
144
88
91
75
67
91
73
117
52
-19
20
64
133
100
134
51
57
-32
13
16
10
5
54
62
For note see p. 103.
102
21
12
19
18
19
17
9. NET CHANGE IN CONSUMER CREDIT OUTSTANDING — Continued
B.
TYPE OF CREDIT: S.A., 1940-63—Continued
[In millions of dollars]
Instalment credit
Total
Month
Total
1958 Jan
Feb
Mar
Apr
May
July
SeDt
Oct
Nov
Dec
..
1959—Jan
Feb
Mar
Apr
May
June
July
AUK. . .
SeDt
Oct
Nov
Dec
I960—Jan
Feb
Mar
Apr
May
June
July
SeDt
Oct
Nov
Dec
1961 Jan
Feb
Mar
Apr
May
...
June
y
Julv
.
.
Y"
Aug
SeDt ....
Oct
Nov
Dec
1962 Jan
Feb
Mar
Apr
May
June
July
AUK
SeDt.
Oct
Nov ..
Dec
1963—Jan
Feb
Mar
Apr
May
June
July
Aug
SeDt
Oct
Nov
Dec..
132
-196
-282
-53
-41
-79
16
34
1
103
102
352
Automobile
paper
Other
consumer
goods
paper
Repair
and
modernization
loans
Personal
loans
Total
Singlepayment
loans
Charge
accounts
Service
credit
-1
-122
-209
-154
-148
-141
-99
-113
-135
-104
-49
129
-49
-60
13
-28
7
-17
-3
30
17
54
62
51
39
11
8
12
18
14
17
26
25
27
26
26
65
37
21
58
22
44
51
25
34
51
42
70
78
-62
-115
59
60
21
50
66
60
75
21
76
77
-4
-37
-5
3
49
26
35
7
41
18
48
-6
-70
-92
59
38
-43
5
9
35
11
-19
-2
7
12
14
5
19
15
19
22
18
23
22
30
575
559
357
615
477
576
620
646
616
570
383
295
54
-134
-167
-112
-101
-100
-34
-32
-59
28
81
276
402
428
361
469
451
487
524
618
583
522
353
288
191
173
161
231
216
239
236
267
257
235
49
-23
101
155
79
141
123
116
132
167
126
127
145
147
26
31
38
33
37
39
47
40
41
38
33
46
84
69
83
64
75
93
109
144
159
122
126
118
173
131
-4
146
26
89
96
28
33
48
30
7
42
80
17
60
20
72
39
52
31
35
14
37
105
29
-39
68
-19
-3
36
-52
-19
-8
-13
-41
26
22
18
18
25
20
21
28
21
21
29
11
484
627
499
682
318
390
356
231
350
176
177
158
382
485
429
472
311
325
285
236
285
100
148
103
120
213
209
231
135
126
57
70
109
-28
51
-41
130
122
89
110
49
86
55
37
67
53
30
67
32
46
35
39
40
32
27
28
22
15
5
9
100
104
96
92
87
81
146
101
87
60
62
68
102
142
70
210
65
71
-5
65
76
29
55
29
51
54
55
28
7
49
6
46
39
10
7
44
74
-4
117
-47
38
-9
-25
-1
2
1
22
29
17
20
38
26
20
31
14
20
35
18
26
57
-46
81
-183
24
101
92
189
164
244
374
458
-30
-74
6
-174
3
25
8
84
65
169
221
332
-96
-142
-87
-151
-59
-36
-50
-29
-45
21
102
93
15
18
18
-63
5
-18
12
28
46
49
43
146
2
1
10
5
3
6
-1
15
7
3
5
1
49
49
65
35
54
73
47
70
57
96
71
92
87
28
75
-9
21
76
84
105
99
75
153
126
104
33
0
-19
44
39
51
67
78
46
87
85
-40
-32
53
-21
-49
16
-5
12
-6
-2
43
11
23
27
22
31
26
21
38
26
27
31
23
30
183
317
483
553
581
468
402
460
337
457
522
556
186
260
312
485
420
389
374
388
250
368
483
485
75
145
187
248
207
203
207
211
99
206
253
230
34
41
18
103
66
53
38
34
30
42
96
153
-6
— 10
3
4
11
11
8
11
1
6
2
-2
83
84
104
130
136
122
121
132
120
114
132
104
-3
57
171
68
161
79
28
72
87
89
39
71
-81
28
99
90
53
38
24
23
-9
28
11
9
61
3
45
-49
86
15
— 22
29
58
41
1
42
17
26
27
27
22
26
26
20
38
20
27
20
599
573
521
546
525
535
643
626
413
609
389
604
485
495
477
521
441
486
509
481
341
531
383
460
243
243
265
285
236
232
251
195
71
234
154
207
83
106
82
83
63
91
79
115
78
95
108
139
5
4
10
17
18
19
20
15
7
18
154
142
120
136
124
144
159
156
185
184
120
119
114
78
44
25
84
49
134
145
72
78
6
144
117
32
5
17
17
46
30
83
43
68
0
35
-30
25
6
-8
37
-31
82
28
-3
-21
-14
90
27
21
33
16
30
34
22
34
32
31
20
19
NOTE.—The sum of monthly changes, seasonally adjusted, does not
necessarily add to the changes for the year, which are based on amounts
Noninstalment credit
-5
outstanding at end of year, unadjusted for seasonal variation.
103
@FedFRASER