Board of Governors of the Federal Reserve System

Consumer Credit - G.19

Current Release (PDF)

December 2011Release Date*: February 7, 2012

Consumer credit increased at an annual rate of 7-1/2 percent in the fourth quarter. Revolving credit increased at an annual rate of 4-1/2 percent, and nonrevolving credit increased 9 percent. In December, consumer credit increased at an annual rate of 9-1/4 percent.

Consumer Credit Outstanding 1
Seasonally adjusted
  Year Quarter Month
  2010 2011
  2007 2008 2009 2010 2011 p Q4 Q1 Q2 Q3 r Q4 p Oct r Nov r Dec p
Total percent change (annual rate)2 5.8 1.6 -4.4 -1.7 3.7 2.5 2.2 3.5 1.5 7.6 3.3 9.9 9.3
Revolving 8.1 1.7 -9.6 -7.5 0.1 -2.6 -3.7 1.5 -2.0 4.5 1.0 8.4 4.1
Nonrevolving 3 4.4 1.5 -1.2 1.5 5.5 5.0 5.1 4.5 3.1 9.0 4.4 10.7 11.8
Total amount (billions of dollars) 2522.5 2561.8 2450.1 2408.3 2498.3 2408.3 2421.5 2442.9 2451.9 2498.3 2458.6 2479.0 2498.3
Revolving 941.9 957.5 865.5 800.2 801.0 800.2 792.8 795.9 792.0 801.0 792.7 798.2 801.0
Nonrevolving 3 1580.7 1604.3 1584.6 1608.1 1697.3 1608.1 1628.6 1647.0 1659.9 1697.3 1666.0 1680.8 1697.3
 
Terms of Credit 4
Not seasonally adjusted. Percent except as noted.
Commercial banks
Interest rates
48-mo. new car 7.77 7.02 6.72 6.21 5.75 5.87 5.86 5.79 5.90 5.45 n.a. 5.45 n.a.
24-mo. personal 12.38 11.37 11.10 10.87 10.92 10.94 11.01 11.36 10.80 10.52 n.a. 10.52 n.a.
Credit card plans
All accounts 13.30 12.08 13.40 13.78 12.74 13.44 13.43 12.89 12.28 12.36 n.a. 12.36 n.a.
Accounts assessed interest 14.68 13.57 14.31 14.26 13.09 13.67 13.44 13.06 13.08 12.78 n.a. 12.78 n.a.
 
Finance companies 5
Interest rates 4.87 5.52 3.82 4.26 4.73 4.57 4.73 n.a. n.a. n.a. n.a. n.a. n.a.
Maturity (months) 62.0 63.4 62.0 63.0 62.3 62.5 62.3 n.a. n.a. n.a. n.a. n.a. n.a.
Loan-to-value ratio 95 91 90 86 80 82 80 n.a. n.a. n.a. n.a. n.a. n.a.
Amount financed (dollars) 28,287 26,178 28,272 27,959 26,673 27,423 26,673 n.a. n.a. n.a. n.a. n.a. n.a.
Consumer Credit Outstanding
(Billions of dollars)
Not seasonally adjusted
  Year Quarter Month
  2010 2011
  2007 2008 2009 2010 2011 p Q4 Q1 Q2 Q3 r Q4 p Oct r Nov r Dec p
Total 2555.3 2594.1 2478.9 2434.7 2524.7 2434.7 2401.9 2423.9 2466.7 2524.7 2469.9 2491.6 2524.7
 
Major holders
Commercial banks 804.1 878.6 855.3 1098.7 1100.7 1098.7 1058.9 1072.3 1073.8 1100.7 1072.7 1082.5 1100.7
Finance companies 584.1 575.8 487.8 518.6 506.3 518.6 509.8 501.8 504.3 506.3 500.5 502.5 506.3
Credit unions 235.7 236.2 237.2 226.5 225.6 226.5 218.1 220.9 223.9 225.6 224.6 225.1 225.6
Federal government 6 98.4 111.0 186.0 316.4 425.1 316.4 355.2 370.1 406.1 425.1 409.9 416.3 425.1
Savings institutions 90.8 86.3 77.5 86.8 92.2 86.8 84.7 87.4 89.3 92.2 90.3 91.2 92.2
Nonfinancial business 58.6 59.8 57.2 56.0 57.0 56.0 52.8 53.1 53.1 57.0 53.1 54.1 57.0
Pools of securitized assets 7,8 683.7 646.4 577.9 131.7 117.8 131.7 122.4 118.3 116.1 117.8 118.9 119.9 117.8
 
Major types of credit
Revolving 973.2 989.1 894.0 826.7 827.5 826.7 779.6 787.4 793.4 827.5 794.5 807.9 827.5
Commercial banks 353.4 390.6 362.4 615.1 606.5 615.1 577.0 581.9 583.9 606.5 582.4 591.2 606.5
Finance companies 86.0 74.4 46.4 71.9 78.1 71.9 69.0 70.0 72.2 78.1 73.2 75.6 78.1
Credit unions 31.1 33.4 35.4 36.3 38.0 36.3 35.0 35.8 36.3 38.0 36.8 37.1 38.0
Federal government 6 ... ... ... ... ... ... ... ... ... ... ... ... ...
Savings institutions 44.8 39.6 38.1 49.6 54.5 49.6 47.9 50.8 52.4 54.5 53.1 53.8 54.5
Nonfinancial business 7.9 8.7 8.8 8.8 8.8 8.8 8.1 8.2 8.4 8.8 8.4 8.5 8.8
Pools of securitized assets 7,8 450.0 442.4 402.8 44.9 41.6 44.9 42.5 40.7 40.2 41.6 40.6 41.6 41.6
Nonrevolving 1582.1 1605.1 1584.9 1608.0 1697.2 1608.0 1622.3 1636.5 1673.3 1697.2 1675.4 1683.7 1697.2
Commercial banks 450.7 488.1 492.9 483.6 494.2 483.6 481.9 490.5 489.9 494.2 490.3 491.2 494.2
Finance companies 498.0 501.3 441.3 446.7 428.3 446.7 440.8 431.8 432.1 428.3 427.3 426.8 428.3
Credit unions 204.6 202.8 201.7 190.1 187.6 190.1 183.1 185.1 187.6 187.6 187.8 188.1 187.6
Federal government 6 98.4 111.0 186.0 316.4 425.1 316.4 355.2 370.1 406.1 425.1 409.9 416.3 425.1
Savings institutions 46.0 46.8 39.5 37.2 37.7 37.2 36.9 36.7 36.9 37.7 37.2 37.4 37.7
Nonfinancial business 50.7 51.1 48.4 47.2 48.2 47.2 44.6 44.8 44.7 48.2 44.6 45.5 48.2
Pools of securitized assets 7,8 233.6 204.0 175.1 86.8 76.2 86.8 79.9 77.6 75.9 76.2 78.3 78.3 76.2

*This release is generally issued on the fifth business day of each month. See the Statistical Release Schedule for more information.

Footnotes

  1. Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate.
  2. The series for consumer credit outstanding and its components may contain breaks that result from discontinuities in source data. Percent changes are adjusted to exclude the effect of such breaks. In addition percent changes are at a simple annual rate and are calculated from unrounded data.
  3. Includes automobile loans and all other loans not included in revolving credit, such as loans for mobile homes, education, boats, trailers, or vacations. These loans may be secured or unsecured.
  4. Interest rates are annual percentage rates (APR) as specified by the Federal Reserve's Regulation Z. Interest rates for new-car loans and personal loans at commercial banks are simple unweighted averages of each bank's most common rate charged during the first calendar week of the middle month of each quarter. For credit card accounts, the rate for all accounts is the stated APR averaged across all credit card accounts at all reporting banks. The rate for accounts assessed interest is the annualized ratio of total finance charges at all reporting banks to the total average daily balances against which the finance charges were assessed (excludes accounts for which no finance charges were assessed).
  5. The statistical foundation for these series has deteriorated in the past few months. Therefore, publication of these series is temporarily being suspended. The statistical foundation is in the process of being improved, and publication will resume as soon as possible.
  6. Data for the Student Loan Marketing Association (Sallie Mae) are included in the Federal government sector until the completion of Sallie Mae's privatization in 2004:Q4 and in the Finance companies sector thereafter.
  7. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators.
  8. The shift of consumer credit from pools of securitized assets to other categories is largely due to financial institutions' implementation of the FAS 166/167 accounting rules.
r=revised. p=preliminary. n.a.=not available. ...=not applicable.
Last update: February 7, 2012