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Release Date: August 7, 1998
Release dates | Historical data
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G.19 CONSUMER CREDIT For release at 3 p.m. (Eastern Time)
1 June 1998 August 7, 1998
Consumer credit grew at a 6-1/2 percent annual rate in June, after being about unchanged in May. In June, automobile credit rose
briskly, revolving credit reversed its May decline, and "other" credit grew at a moderate rate.
CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
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1997 1998
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June July Aug. Sept. Oct. Nov. Dec. Jan. r Feb. r Mar. r Apr. r May r June p
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Percent change at annual rate 2
Total 2.2 4.7 5.8 1.4 9.0 -5.9 3.7 2.7 4.9 7.5 3.5 -0.2 6.4
Automobile 7.1 11.1 -1.3 6.3 11.4 -6.2 19.4 5.5 3.2 9.0 4.6 3.8 9.0
Revolving 4.2 9.4 8.0 6.2 10.0 -2.1 2.3 4.1 7.8 9.7 4.6 -5.6 5.5
Other 3 -7.9 -12.1 11.6 -13.6 4.1 -12.4 -15.8 -3.9 1.6 1.3 0.0 4.1 4.2
Amount: billions of dollars
Total 1,211.7 1,216.5 1,222.4 1,223.8 1,233.0 1,226.9 1,230.7 1,233.5 1,238.5 1,246.2 1,249.9 1,249.6 1,256.3
Automobile 399.8 403.5 403.1 405.2 409.0 406.9 413.5 415.3 416.5 419.6 421.2 422.5 425.7
Revolving 516.2 520.2 523.7 526.4 530.7 529.8 530.8 532.6 536.1 540.4 542.5 539.9 542.4
Other 3 295.8 292.8 295.6 292.3 293.3 290.3 286.4 285.5 285.9 286.2 286.2 287.2 288.2
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TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES 4
Percent except as noted: not seasonally adjusted
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Institution, terms, and type of loan
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Commercial banks
Interest rates
48-mo. new car n.a. n.a. 8.99 n.a. n.a. 8.96 n.a. n.a. 8.87 n.a. n.a. 8.69 n.a.
24-mo. personal n.a. n.a. 13.84 n.a. n.a. 14.50 n.a. n.a. 14.01 n.a. n.a. 13.76 n.a.
Credit card plan
All accounts n.a. n.a. 15.78 n.a. n.a. 15.65 n.a. n.a. 15.65 n.a. n.a. 15.67 n.a.
Accounts assessed interest n.a. n.a. 15.81 n.a. n.a. 15.62 n.a. n.a. 15.33 n.a. n.a. 15.62 n.a.
New car loans at auto finance companies
Interest rates 7.64 6.71 5.93 6.12 7.27 6.85 5.93 6.12 6.98 5.94 6.20 6.07 6.02
Maturity (months) 53.3 54.6 55.5 55.4 54.4 53.7 53.5 52.8 52.6 51.5 50.7 50.8 50.9
Loan-to-value ratio 93 94 93 93 92 91 92 92 92 92 91 93 91
Amount financed (dollars) 18,171 18,281 18,329 18,520 18,779 18,923 19,121 18,944 18,825 18,932 18,922 18,793 18,878
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This release is issued around the fifth business day of each month. The exact date and time may be obtained by calling (202) 452 - 3206.
Footnotes appear on reverse.
1
CONSUMER CREDIT OUTSTANDING
(Billions of dollars)
Not seasonally adjusted
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1997 1998
_______________________________________________________ _______________________________________________
June July Aug. Sept. Oct. Nov. Dec. Jan. r Feb. r Mar. r Apr. r May r June p
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Total 1,205.0 1,209.6 1,220.7 1,226.7 1,232.5 1,234.5 1,264.1 1,243.5 1,233.2 1,234.7 1,238.5 1,239.0 1,249.5
Major holders
Commercial banks 510.7 514.5 516.2 507.5 506.3 506.5 512.6 499.3 492.5 492.2 499.8 496.6 487.9
Finance companies 156.7 156.4 157.2 158.4 156.9 156.4 160.0 159.5 155.7 156.5 154.3 153.6 154.7
Credit unions 147.6 148.8 149.3 150.0 150.6 150.6 152.4 151.0 149.8 149.3 149.1 149.8 149.3
Savings institutions 46.5 47.2 47.8 48.5 48.0 47.6 47.2 47.1 47.1 47.1 47.1 47.0 47.0
Nonfinancial business 68.0 67.6 68.6 68.7 68.5 70.5 78.9 75.3 72.8 72.8 65.1 65.2 65.2
Pools of securitized assets 5 275.6 275.2 281.6 293.5 302.2 302.9 313.1 311.1 315.3 316.8 323.1 326.8 345.4
Major types of credit 6
Automobile 399.6 404.0 405.7 408.8 413.5 411.1 417.0 413.6 412.2 415.5 416.2 418.5 425.6
Commercial banks 156.0 157.8 158.5 157.2 157.9 156.2 155.3 154.4 152.7 153.9 151.3 151.7 150.9
Finance companies 87.0 88.3 88.4 88.5 86.8 86.0 87.0 87.4 84.7 86.8 90.6 89.6 89.9
Pools of securitized assets 5 53.0 53.3 53.0 56.0 60.6 60.4 65.0 63.1 66.0 65.1 63.7 65.9 71.6
Revolving 511.4 515.1 520.8 524.3 527.5 532.9 555.9 541.1 535.5 534.4 535.5 535.1 537.5
Commercial banks 213.3 219.0 217.5 209.3 209.5 212.7 219.8 208.8 204.6 201.3 209.2 207.3 199.1
Finance companies 34.9 33.5 33.5 34.9 34.7 34.8 38.6 37.6 36.9 36.6 30.4 30.5 30.4
Nonfinancial business 37.3 36.8 37.6 37.7 37.5 38.9 45.0 42.7 41.0 41.2 33.5 33.4 33.5
Pools of securitized assets 5 196.8 196.5 202.4 212.4 215.7 216.4 221.5 221.8 223.4 226.2 233.7 235.3 246.0
Other 294.0 290.6 294.3 293.6 291.5 290.5 291.3 288.8 285.6 284.8 286.8 285.4 286.4
Commercial banks 141.4 137.7 140.2 141.0 138.9 137.5 137.5 136.2 135.2 137.0 139.4 137.6 137.9
Finance companies 34.8 34.7 35.2 35.0 35.3 35.5 34.4 34.5 34.1 33.0 33.4 33.5 34.4
Nonfinancial business 30.7 30.8 31.1 31.0 31.1 31.6 34.0 32.7 31.8 31.5 31.6 31.8 31.7
Pools of securitized assets 5 25.8 25.4 26.1 25.1 25.8 26.1 26.6 26.3 26.0 25.6 25.6 25.5 27.9
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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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Last update: August 7, 1998