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

Release Date: March 5, 1999

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G.19                                                        CONSUMER CREDIT                        For release at 3 p.m. (Eastern Time)  
1                                                            January 1999                                                 March 5, 1999

Consumer credit grew at a 13-1/2 percent annual rate in January, up from about 3 percent in December.  In January, growth in automobile
and revolving credit increased and "other" credit turned up.

CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
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                                                                             1998                                                1999
                                _______________________________________________________________________________________________ _______

                                 Jan.    Feb.   Mar. r  Apr. r   May r  June r  July r  Aug. r  Sept. r Oct. r  Nov. r  Dec. r  Jan. p
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Percent change at annual rate 2
  Total                             2.3     4.9     6.6     4.3     2.3     9.0     5.7     6.9     7.2    10.8     1.8     2.9    13.5
   Automobile                       5.5     4.2     8.8     4.1     4.0     8.2     7.4    11.5     7.6     5.5    12.0    11.9    17.5
   Revolving                        4.3     5.1     9.1     5.4    -1.4     9.2    -4.3    10.6     7.4    12.9    -2.5     8.5    12.2
   Other 3                         -6.1     5.5    -1.2     2.3     6.9     9.6    21.8    -6.6     6.2    14.8    -5.1   -20.9    10.1

Amount: billions of dollars
  Total                         1,235.5 1,240.5 1,247.3 1,251.8 1,254.2 1,263.5 1,269.5 1,276.8 1,284.4 1,296.0 1,297.9 1,301.0 1,315.7
   Automobile                     415.3   416.7   419.8   421.2   422.6   425.5   428.1   432.2   435.0   437.0   441.3   445.7   452.2
   Revolving                      533.0   535.3   539.4   541.8   541.2   545.3   543.4   548.2   551.5   557.4   556.3   560.2   565.9
   Other 3                        287.1   288.4   288.2   288.7   290.4   292.7   298.0   296.4   297.9   301.6   300.3   295.1   297.6
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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.    8.87    n.a.    n.a.    8.69    n.a.    n.a.    8.71    n.a.    n.a.    8.62    n.a.    n.a.
   24-mo. personal                 n.a.   14.01    n.a.    n.a.   13.76    n.a.    n.a.   13.45    n.a.    n.a.   13.75    n.a.    n.a.
   Credit card plan
    All accounts                   n.a.   15.65    n.a.    n.a.   15.67    n.a.    n.a.   15.83    n.a.    n.a.   15.69    n.a.    n.a.
    Accounts assessed interest     n.a.   15.33    n.a.    n.a.   15.62    n.a.    n.a.   15.85    n.a.    n.a.   15.72    n.a.    n.a.

New car loans at auto finance companies
  Interest rates                   6.12    6.98    6.47    6.20    6.07    6.02    6.23    6.00    5.92    6.33    6.79    6.43    6.22
  Maturity (months)                52.8    52.6    51.5    50.7    50.8    50.9    51.7    53.0    53.1    53.1    52.8    52.2    52.1
  Loan-to-value ratio                92      92      92      91      93      91      92      93      93      92      91      91      92
  Amount financed (dollars)      18,944  18,825  18,932  18,922  18,793  18,878  19,084  19,068  19,028  19,199  19,590  19,734  19,628
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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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                                                                             1998                                                1999
                                _______________________________________________________________________________________________ _______

                                 Jan.    Feb.   Mar. r  Apr. r   May r  June r  July r  Aug. r  Sept. r Oct. r  Nov. r  Dec. r  Jan. p
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Total                           1,244.0 1,234.2 1,236.0 1,241.1 1,243.1 1,256.8 1,262.6 1,277.0 1,287.4 1,298.6 1,305.8 1,333.6 1,324.5

Major holders
Commercial banks                  499.3   492.5   492.1   500.1   497.3   491.4   491.4   498.2   497.9   502.1   498.8   508.9   506.3
Finance companies                 159.5   155.7   156.5   154.3   153.6   154.3   156.1   159.6   159.1   165.6   166.6   168.5   168.0
Credit unions                     151.5   150.8   150.7   151.1   152.2   152.4   153.7   154.1   155.2   156.0   156.5   157.2   157.6
Savings institutions               47.1    47.1    47.1    47.5    47.9    48.3    49.0    49.6    50.3    51.0    51.6    51.6    52.0
Nonfinancial business              75.4    72.8    72.7    65.1    65.2    65.3    65.5    66.0    65.5    66.0    66.6    74.9    70.7
Pools of securitized assets 5     311.1   315.3   316.8   323.1   326.9   345.1   346.9   349.4   359.4   358.0   365.6   372.4   369.8

Major types of credit 6
Automobile                        413.5   412.1   415.5   416.0   418.2   425.2   429.7   434.9   439.0   442.3   445.5   449.7   450.3
 Commercial banks                 154.4   152.7   153.9   151.3   151.7   150.9   153.2   155.5   156.3   156.8   157.1   158.1   159.9
 Finance companies                 87.4    84.7    86.8    90.6    89.6    89.9    91.7    95.3    96.2    97.6    99.0   103.1   102.8
 Pools of securitized assets 5     63.1    66.0    65.1    63.7    66.0    71.6    72.5    70.8    72.1    71.8    72.6    73.0    73.1

Revolving                         541.5   535.3   534.1   535.6   535.6   539.6   537.1   545.0   548.8   555.8   559.0   586.2   574.9
 Commercial banks                 208.8   204.6   201.3   209.2   207.3   200.9   197.6   200.4   197.6   200.9   196.9   210.3   204.5
 Finance companies                 37.6    36.9    36.6    30.4    30.5    29.9    29.4    29.6    28.4    33.3    33.1    32.3    32.4
 Nonfinancial business             42.7    41.0    41.2    33.5    33.4    33.5    33.8    34.0    33.7    33.8    33.8    39.2    36.2
 Pools of securitized assets 5    221.8   223.4   226.2   233.7   235.3   245.6   246.6   251.2   259.3   258.1   265.3   272.3   269.9

Other                             288.9   286.8   286.4   289.6   289.2   292.0   295.8   297.1   299.6   300.6   301.4   297.7   299.3
 Commercial banks                 136.2   135.2   136.9   139.7   138.3   139.6   140.6   142.2   144.0   144.4   144.8   140.5   141.9
 Finance companies                 34.5    34.1    33.0    33.4    33.5    34.4    35.0    34.7    34.6    34.6    34.6    33.1    32.8
 Nonfinancial business             32.7    31.8    31.5    31.6    31.8    31.7    31.7    32.0    31.8    32.2    32.9    35.7    34.5
 Pools of securitized assets 5     26.3    26.0    25.6    25.6    25.5    27.9    27.8    27.5    27.9    28.1    27.7    27.1    26.8
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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: March 5, 1999