Federal Reserve Statistical Release, G.19, Consumer Credit; title with eagle logo links to Statistical Release home page


Release Date: October 07, 1996

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G.19 CONSUMER CREDIT For release at 3 p.m.(Eastern Time)
1 August 1996 October 7, 1996
 

Total consumer credit outstanding grew at a 3.5 percent seasonally adjusted annual rate in August, the slowest pace since May 1993.
Growth of revolving credit moderated appreciably, while that of "other" credit increased. Auto credit outstanding was unchanged.
 

CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
  1995 1996
  Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. r May r June r July r Aug. p
  Percent change at annual rate 2     
       Total                              14.3     16.8      8.9     12.9      9.8     10.9     12.2     11.8      7.9      6.2      7.0      7.6      3.5 
         Automobile                        8.3      6.4     10.8     10.8     12.5      5.7      8.9      8.8      7.8      2.6     17.2      6.7      0.5 
         Revolving                        24.6     29.1    15.2     8.4    19.2    14.7    19.2    15.8    17.8    14.8     3.6    15.2     7.5
         Other 3                           8.3     12.9     -0.6     20.5     -4.2     11.7      7.2      9.8     -4.2     -0.9      0.6     -1.3      1.3 
                                      
  Amount: billions of dollars                                   
       Total                           1,059.9  1,074.7  1,082.7  1,094.4  1,103.3  1,113.4  1,124.7  1,135.7  1,143.3  1,149.2  1,155.9  1,163.2  1,166.5 
         Automobile                      339.2    341.0    344.1    347.2    350.8    352.5    355.1    357.8    360.1    360.9    366.1    368.1    368.3 
         Revolving                       390.1    399.5    404.6    407.4    413.9    419.0    425.7    431.2    437.6    443.1    444.4   450.0     452.8 
         Other 3                         330.6    334.2    334.0    339.7    338.6    341.9    343.9    346.7    345.5    345.3    345.4    345.1    345.5 
              
  TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES 4                                                           
  Percent except as noted: not seasonally adjusted                                                                      
  Institution, terms, and type of loan                                                                                  
  Commercial banks                                                                                                      
       Interest rates                                                                                                   
         48-mo. new car                   9.44     n.a.     n.a.     9.36     n.a.     n.a.     9.12     n.a.     n.a.     8.93     n.a.     n.a.     9.11 
         24-mo. personal              
         Credit card plan             
  13.84     n.a.     n.a.    13.80     n.a.     n.a.    13.63     n.a.     n.a.    13.52     n.a.     n.a.    13.37 
           All accounts                  15.98     n.a.     n.a.    15.81     n.a.     n.a.    15.82     n.a.     n.a.    15.44     n.a.     n.a.    15.65 
           Accounts assessed interest    15.94     n.a.     n.a.    15.71     n.a.     n.a.    15.41     n.a.     n.a.    15.41     n.a.     n.a.    15.64 
                
  New car loans at auto finance companies                                                                               
       Interest rates                    10.85    10.75    10.89    10.84    10.52     9.74     9.86     9.77     9.64     9.37     9.53     9.81    10.49 
       Maturity (months)                  53.5     53.4     54.6     54.5     53.6     51.8     52.3     51.8     51.5     50.8     50.4     50.5     51.4 
       Loan-to-value ratio                  92       92       92       92       92       92       91       91       91       91       91       91       92 
       Amount financed (dollars)        16,056   16,402   16,430   16,583   17,034   16,698   16,627   16,520   16,605   16,686   16,854   16,926   16,927 
  Footnotes appear on reverse.
 

 

 

1
CONSUMER CREDIT OUTSTANDING
(Billions of dollars)
Not seasonally adjusted
 

  1995 1996
  Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. r May r June r July r Aug. p
                                                               
    Total                             1,057.2  1,078.2  1,084.1  1,101.4  1,131.9  1,123.7  1,121.8  1,125.4  1,132.5  1,139.4  1,148.7  1,153.5  1,163.4 
                                                               
    Major holders                                              
    Commercial banks                    490.4    492.4    491.8    496.0    507.8    502.2    500.3    500.9    506.6    505.2    507.7    511.2    516.8 
    Finance companies                   145.5    146.2    148.7    147.1    152.6    152.6    154.4    151.7    153.3    155.9    155.9    156.4    155.5 
    Credit unions                       128.7    129.2    130.3    130.9    131.9    131.3    130.8    130.8    131.8    133.4    134.6    136.7    138.6 
    Savings institutions                 39.3     39.7     40.1     40.5     40.1     40.2     40.4     40.8     41.0     41.0     40.3     40.3     40.0 
    Nonfinancial business                78.6     78.3     78.8     77.9     85.1     80.7     78.1     76.7     73.8     74.7     72.1     71.2     72.2 
    Pools of securitized assets 5       174.8    192.4    194.5    208.9    214.4    216.6    217.7    224.4    226.0    229.3    238.2    237.6    240.2 
                                                               
    Major types of credit 6                                    
    Automobile                          340.5    344.1    348.1    351.0    354.1    352.0    352.9    354.1    355.6    358.2    364.6    367.0    369.7 
       Commercial banks                 147.2    146.9    150.1    148.0    149.1    148.2    147.7    148.5    150.1    150.5    152.9    154.6    156.3 
       Finance companies                 68.3     68.9     70.8     68.2     70.6     71.4     73.3     72.1     73.8     74.3     74.3     75.1     74.4 
       Pools of securitized assets 5     36.9     39.1     37.2     44.7     44.4     42.4     41.6     42.8     40.5     41.0     44.5     42.8     43.3 
                                                               
    Revolving                           387.5    399.3    404.0    410.5    435.7    426.0    424.5    425.9    430.9    437.2    439.5    443.7    449.9 
       Commercial banks                 195.4    195.0    195.9    197.1    210.3    200.1    198.9    196.8    201.1    203.4    204.0    207.9    211.0 
       Nonfinancial business             49.8     49.6     50.0     48.5     53.5     50.5     48.6     47.4     44.5     45.2     42.6     41.7     42.5 
       Pools of securitized assets 5    120.3    132.8    135.7    141.9    147.9    151.6    153.4    157.9    161.4    164.5    168.8    169.7    171.8 
                                                               
    Other                               329.2    334.8    332.1    339.8    342.2    345.7    344.4    345.5    345.9    344.1    344.6    342.9    343.8 
       Commercial banks                 147.7    150.5    145.7    150.9    148.4    153.9    153.7    155.6    155.4    151.3    150.7    148.7    149.5 
       Finance companies                 77.3     77.3     77.9     78.9     82.0     81.2     81.1     79.6     79.5     81.6     81.6     81.3     81.0 
       Nonfinancial business             28.7     28.7     28.8     29.4     31.5     30.2     29.5     29.3     29.2     29.5     29.5     29.5     29.7 
       Pools of securitized assets 5     17.5     20.4     21.5     22.3     22.1     22.6     22.7     23.7     24.1     23.8     24.8     25.1     25.0 
 

1. Covers most short- and intermediate- term credit extended to individuals, excluding loans secured by real estate.
2. Percent changes calculated from unrounded data.
3. Comprises mobile home loans and all other loans not included in automobile or revolving credit, such as loans for 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). Finance company data are from the subsidiaries of the three major U.S. automobile manufacturers and
are volume-weighted averages covering all loans of each type purchased during the month.
5. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of
the loan originators.
6. Includes estimates for holders that do not separately report consumer credit holding by type.
r=revised. p=preliminary.


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