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

Release Date: July 8, 1999

Release dates | Historical data
Current release  Other formats: Screen reader | ASCII | PDF (17KB)

Beginning this month, the G.19 no longer provides separate estimates for the automobile and "other" categories.  Instead, these two 
categories have been combined in a single category called nonrevolving credit.  This change owes to an assessment that the split between 
the two categories has become unreliable because of shifts in the composition of the monthly commercial bank panel and the lack of 
suitable benchmarks for the commercial bank automobile and "other" credit series.  Seasonal adjustment factors have been estimated 
for the entire history of the consolidated series.  
	In addition, updated seasonal adjustment factors have been prepared for the revolving credit series from January 1994 onward.  
Historical data can be found on the Federal Reserve Board website (www.federalreserve.gov/releases/G19/hist).






G.19                                                        CONSUMER CREDIT                        For release at 3 p.m. (Eastern Time)
1                                                              May 1999                                                    July 8, 1999

Consumer credit grew at an 11 percent pace in May, after little change in April.  The acceleration owes to a sharp increase in
nonrevolving debt, while revolving debt expanded moderately.  The historical data have been revised to incorporate new seasonal factors.

CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
---------------------------------------------------------------------------------------------------------------------------------------
                                                                                     1998                            1999
                                                                        _______________________________ _______________________________

                                 1994    1995    1996    1997    1998     Q1      Q2      Q3      Q4      Q1      Mar     Apr    May p
---------------------------------------------------------------------------------------------------------------------------------------
Percent change at annual rate 2
  Total                           14.5    14.1     7.9     4.4     5.4     4.7     4.9     6.2     5.3     9.7     6.4     0.4    10.9
   Revolving                      18.0    21.2    12.7     6.4     5.5     6.2     4.2     4.9     6.3     4.7     0.9     5.9     4.4
   Nonrevolving 3                 12.5     9.7     4.6     2.9     5.3     3.5     5.4     7.2     4.6    13.5    10.5    -3.6    15.7

Amount: billions of dollars
  Total                          960.7  1096.0  1182.4  1234.1  1300.5  1248.5  1263.8  1283.3  1300.5  1332.1  1332.1  1332.6  1344.7
   Revolving                     365.6   443.2   499.5   531.3   560.7   539.5   545.2   551.9   560.7   567.3   567.3   570.1   572.2
   Nonrevolving 3                595.1   652.8   682.9   702.8   739.8   709.0   718.5   731.4   739.8   764.9   764.9   762.6   772.6
---------------------------------------------------------------------------------------------------------------------------------------

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                 8.12    9.57    9.05    9.02    8.72    8.87    8.69    8.71    8.62    8.34     n.a.    n.a.   8.30
   24-mo. personal               13.19   13.94   13.54   13.90   13.74   14.01   13.76   13.45   13.75   13.41     n.a.    n.a.  13.26
        Credit card plan
    All accounts                 15.69   15.90   15.63   15.77   15.71   15.65   15.67   15.83   15.69   15.41     n.a.    n.a.  15.21
    Accounts assessed interest   15.77   15.64   15.50   15.57   15.59   15.33   15.62   15.85   15.54   14.73     n.a.    n.a.  14.94

New car loans at auto finance companies
  Interest Rates                  9.79   11.19    9.84    7.12    6.30    6.52    6.10    6.05    6.52    6.32    6.31    6.52    6.57
  Maturity (months)               54.0    54.1    51.6    54.1    52.1    52.3    50.8    52.6    52.7    52.8    53.0    52.8    52.4
  Loan-to-Value Ratio               92      92      91      92      92      92      91      93      92      92      91      92      92
  Amount financed (dollars)     15,375  16,210  16,987  18,077  19,083  18,900  18,864  19,060  19,507  19,424  19,339  19,435  19,539

---------------------------------------------------------------------------------------------------------------------------------------
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

-----------------------------------------------------------------------------------------------------------------------------------------
                                                                                       1998                            1999
                                                                          _______________________________ _______________________________

                                   1994    1995    1996    1997    1998     Q1      Q2      Q3      Q4      Q1      Mar     Apr    May p
-----------------------------------------------------------------------------------------------------------------------------------------

Total                              983.9  1122.8  1211.6  1264.1  1331.7  1236.0  1256.8  1286.6  1331.7  1318.6  1318.6  1322.0  1332.6

Major holders
Total                              983.9  1122.8  1211.6  1264.1  1331.7  1236.0  1256.8  1286.6  1331.7  1318.6  1318.6  1322.0  1332.6
Commercial banks                   458.8   502.0   526.8   512.6   508.9   492.1   491.4   497.9   508.9   494.0   494.0   495.9   496.0
Finance companies                  134.4   152.1   152.4   160.0   168.5   156.5   154.3   159.1   168.5   167.8   167.8   170.3   168.9
Credit unions                      119.6   131.9   144.1   152.4   155.4   150.7   152.4   154.3   155.4   155.1   155.1   155.9   157.0
Savings institutions                38.5    40.1    44.7    47.2    51.6    47.1    48.3    50.3    51.6    53.6    53.6    54.3    55.0
Nonfinancial business               86.6    85.1    77.7    78.9    74.9    72.7    65.3    65.5    74.9    67.1    67.1    67.1    68.1
Pools of securitized assets 5      146.1   211.6   265.8   313.1   372.4   316.8   345.1   359.4   372.4   380.9   380.9   378.5   387.7

Major types of credit 6
Revolving                          383.2   464.1   522.9   555.9   586.5   534.1   539.6   549.0   586.5   561.5   561.5   564.1   566.2
   Commercial banks                182.0   210.3   228.6   219.8   210.3   201.3   200.9   197.6   210.3   190.0   190.0   191.3   190.2
   Finance companies                25.9    28.5    32.5    38.6    32.3    36.6    29.9    28.4    32.3    31.2    31.2    31.5    31.7
   Credit unions                    13.2    15.5    17.8    19.6    19.9    18.2    18.6    18.8    19.9    18.9    18.9    19.0    19.0
   Savings institutions              9.2     8.4    10.3    11.4    12.5    10.5    11.0    11.1    12.5    12.4    12.4    12.3    12.3
   Nonfinancial business            56.8    53.5    44.9    45.0    39.2    41.2    33.5    33.7    39.2    33.8    33.8    33.7    34.4
   Pools of securitized assets 5    96.1   147.9   188.7   221.5   272.3   226.2   245.6   259.3   272.3   275.3   275.3   276.2   278.6

Nonrevolving                       600.7   658.7   688.7   708.2   745.2   701.9   717.2   737.6   745.2   757.1   757.1   757.9   766.4
   Commercial banks                276.8   291.7   298.2   292.7   298.6   290.8   290.5   300.3   298.6   304.0   304.0   304.6   305.8
   Finance companies               108.5   123.7   119.9   121.4   136.2   119.9   124.4   130.8   136.2   136.6   136.6   138.8   137.2
   Credit unions                   106.4   116.5   126.3   132.8   135.5   132.5   133.8   135.6   135.5   136.2   136.2   136.9   138.0
   Savings institutions             29.3    31.7    34.4    35.7    39.2    36.6    37.3    39.2    39.2    41.3    41.3    41.9    42.6
   Nonfinancial business            29.8    31.5    32.8    34.0    35.7    31.5    31.7    31.8    35.7    33.4    33.4    33.4    33.6
   Pools of securitized assets 5    49.9    63.7    77.1    91.6   100.1    90.6    99.5   100.0   100.1   105.6   105.6   102.3   109.1

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 automobile loans and all other loans not included in revolving credit, such as loans for mobile homes, 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.

Release dates | Historical data
Current release  Other formats: Screen reader | ASCII | PDF (17KB)
Home | Statistical releases
Accessibility
To comment on this site, please fill out our feedback form.
Last update: July 8, 1999