G.19                                                        CONSUMER CREDIT                        For release at 3 p.m. (Eastern Time)
1                                                            October 1999                                              December 7, 1999

Outstanding consumer credit grew at a 3-3/4 percent annual rate in October.  Nonrevolving credit accelerated in October, while revolving
credit edged down.  September consumer credit growth was revised down from 5-1/4 percent to 3 percent after data were received from bank
call reports.

CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
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                                                                             1998                            1999
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                                 1994    1995    1996    1997    1998     Q3      Q4      Q1      Q2      Q3      Aug     Sep    Oct p
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Percent change at annual rate 2
  Total                           14.5    14.1     7.9     4.4     5.4     6.2     5.3     9.9     4.5     5.6     6.0     3.1     3.7
   Revolving                      18.0    21.2    12.7     6.4     5.5     4.9     6.3     4.6     8.1     4.2     2.5     0.1    -0.6
   Nonrevolving 3                 12.5     9.7     4.6     2.9     5.3     7.2     4.6    14.0     1.9     6.6     8.6     5.3     6.9

Amount: billions of dollars
  Total                          960.7  1096.0  1182.4  1234.1  1300.5  1283.3  1300.5  1332.8  1347.8  1366.7  1363.2  1366.7  1370.9
   Revolving                     365.6   443.2   499.5   531.3   560.7   551.9   560.7   567.1   578.5   584.6   584.5   584.6   584.3
   Nonrevolving 3                595.1   652.8   682.9   702.8   739.8   731.4   739.8   765.7   769.3   782.1   778.7   782.1   786.6
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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                 8.12    9.57    9.05    9.02    8.72    8.71    8.62    8.34    8.30    8.44    8.44     n.a.    n.a.
   24-mo. personal               13.19   13.94   13.54   13.90   13.74   13.45   13.75   13.41   13.26   13.38   13.38     n.a.    n.a.
        Credit card plan
    All accounts                 15.69   15.90   15.63   15.77   15.71   15.83   15.69   15.41   15.21   15.08   15.08     n.a.    n.a.
    Accounts assessed interest   15.77   15.64   15.50   15.57   15.59   15.85   15.54   14.73   14.94   14.79   14.79     n.a.    n.a.

New car loans at auto finance companies
  Interest Rates                  9.79   11.19    9.84    7.12    6.30    6.05    6.52    6.32    6.56    6.48    6.28    6.47    7.07
  Maturity (months)               54.0    54.1    51.6    54.1    52.1    52.6    52.7    52.8    52.5    51.9    51.7    52.1    53.2
  Loan-to-Value Ratio               92      92      91      92      92      93      92      92      92      92      92      92      92
  Amount financed (dollars)     15,375  16,210  16,987  18,077  19,083  19,060  19,507  19,424  19,565  20,013  20,012  20,154  20,335

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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
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                                   1994    1995    1996    1997    1998     Q3      Q4      Q1      Q2      Q3      Aug     Sep    Oct p
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Total                              983.9  1122.8  1211.6  1264.1  1331.7  1286.6  1331.7  1319.3  1340.4  1370.2  1364.4  1370.2  1376.0

Major holders
Total                              983.9  1122.8  1211.6  1264.1  1331.7  1286.6  1331.7  1319.3  1340.4  1370.2  1364.4  1370.2  1376.0
Commercial banks                   458.8   502.0   526.8   512.6   508.9   497.9   508.9   494.0   477.8   472.5   476.6   472.5   472.2
Finance companies                  134.4   152.1   152.4   160.0   168.5   159.1   168.5   167.8   173.6   173.0   177.3   173.0   174.2
Credit unions                      119.6   131.9   144.1   152.4   155.4   154.3   155.4   155.8   158.2   164.1   162.4   164.1   165.9
Savings institutions                38.5    40.1    44.7    47.2    51.6    50.3    51.6    53.6    57.2    60.1    59.1    60.1    61.0
Nonfinancial business               86.6    85.1    77.7    78.9    74.9    65.5    74.9    67.1    68.0    67.6    68.9    67.6    68.1
Pools of securitized assets 5      146.1   211.6   265.8   313.1   372.4   359.4   372.4   380.9   405.6   433.0   420.1   433.0   434.5

Major types of credit 6
Revolving                          383.2   464.1   522.9   555.9   586.5   549.0   586.5   561.4   572.5   581.4   580.7   581.4   583.1
   Commercial banks                182.0   210.3   228.6   219.8   210.3   197.6   210.3   190.0   178.0   168.9   170.3   168.9   167.3
   Finance companies                25.9    28.5    32.5    38.6    32.3    28.4    32.3    31.2    32.4    30.7    33.0    30.7    31.5
   Credit unions                    13.2    15.5    17.8    19.6    19.9    18.8    19.9    18.7    18.9    19.5    19.3    19.5    19.5
   Savings institutions              9.2     8.4    10.3    11.4    12.5    11.1    12.5    12.4    12.8    13.5    13.2    13.5    13.7
   Nonfinancial business            56.8    53.5    44.9    45.0    39.2    33.7    39.2    33.8    34.6    34.2    35.4    34.2    34.7
   Pools of securitized assets 5    96.1   147.9   188.7   221.5   272.3   259.3   272.3   275.3   295.8   314.6   309.4   314.6   316.5

Nonrevolving                       600.7   658.7   688.7   708.2   745.2   737.6   745.2   757.9   768.0   788.7   783.7   788.7   792.9
   Commercial banks                276.8   291.7   298.2   292.7   298.6   300.3   298.6   304.0   299.7   303.6   306.3   303.6   304.9
   Finance companies               108.5   123.7   119.9   121.4   136.2   130.8   136.2   136.6   141.2   142.2   144.3   142.2   142.7
   Credit unions                   106.4   116.5   126.3   132.8   135.5   135.6   135.5   137.0   139.3   144.6   143.1   144.6   146.5
   Savings institutions             29.3    31.7    34.4    35.7    39.2    39.2    39.2    41.3    44.4    46.6    45.9    46.6    47.3
   Nonfinancial business            29.8    31.5    32.8    34.0    35.7    31.8    35.7    33.4    33.4    33.3    33.5    33.3    33.5
   Pools of securitized assets 5    49.9    63.7    77.1    91.6   100.1   100.0   100.1   105.6   109.9   118.4   110.7   118.4   118.0

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 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.