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


Release Date: July 08, 2002

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G.19 CONSUMER CREDIT For release at 3 p.m. (Eastern Time)
1 May 2002 July 8, 2002
 

Consumer credit grew at an annual rate of 6-3/4 percent in May, up from a 6 percent rate in April. In May, revolving credit increased
moderately and nonrevolving credit expanded briskly.
 

CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
 

            2001 2002
  1997 1998 1999 2000 2001 r Q1 Q2 Q3 r Q4 r Q1 r Mar r Apr r May p
Percent change at annual rate 2,3 
  Total                            4.9      6.0      7.5     10.2      6.9      8.9      4.9      4.3      9.0      4.5      5.1      6.1      6.8 
   Revolving                       6.4      5.9      6.3     11.5      5.1     11.5      5.9      2.1      0.7      2.6      4.8      7.5      4.1 
   Nonrevolving 4                  3.8      6.1      8.4      9.2      8.3      6.9      4.2      5.9     15.2      5.9      5.4      5.1      8.7 
                           
Amount: billions of dollars       
  Total                         1243.0   1317.5   1416.3   1560.6   1668.8   1595.3   1614.9   1632.2   1668.8   1687.7   1687.7   1696.3   1705.8 
   Revolving                     531.0    562.5    597.7    666.5    700.8    685.7    695.9    699.6    700.8    705.4    705.4    709.8    712.2 
   Nonrevolving 4                712.0    755.0    818.6    894.0    968.0    909.5    919.0    932.7    968.0    982.3    982.3    986.5    993.6 
              
TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES 5                                                             
Percent except as noted: not seasonally adjusted                                                                        
Institution, terms, and type of loan                                                                                    
Commercial banks                                                                                                        
     Interest rates                                                                                                     
   48-mo. new car                 9.02     8.72     8.44     9.34     8.50     9.17     8.67     8.31     7.86     7.50      n.a.     n.a.    7.74 
   24-mo. personal             
        Credit card plan       
 13.90    13.74    13.39    13.90    13.22    13.71    13.28    13.25    12.62    11.72      n.a.     n.a.   12.57 
    All accounts                 15.77    15.71    15.21    15.71    14.89    15.66    15.07    14.60    14.22    13.65      n.a.     n.a.   13.55 
    Accounts assessed interest   15.57    15.59    14.81    14.91    14.44    14.61    14.63    14.64    13.88    12.98      n.a.     n.a.   13.34 
                
New car loans at auto finance companies                                                                                 
  Interest rates                  7.12     6.30     6.66     6.61     5.65     7.09     6.50     6.01     2.97     5.32     5.87     5.51     6.08 
  Maturity (months)               54.1     52.1     52.7     54.9     55.1     55.1     56.8     57.4     51.1     53.9     56.4     55.9     57.0 
  Loan-to-value ratio               92       92       92       92       91       90       91       92       92       90       90       93       92 
  Amount financed (dollars)     18,077   19,083   19,880   20,923   22,822   21,813   21,969   22,775   24,729   23,314   23,065   23,535   23,316 
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
            2001 2002
  1997 1998 1999 2000 2001 r Q1 Q2 Q3 r Q4 r Q1 r Mar r Apr r May p
Total                              1271.6   1346.6   1446.1   1593.1   1702.8   1584.3   1608.1   1630.6   1702.8   1676.5   1676.5   1683.6   1693.2 
                                                           
Major holders                                              
Total                              1271.6   1346.6   1446.1   1593.1   1702.8   1584.3   1608.1   1630.6   1702.8   1676.5   1676.5   1683.6   1693.2 
Commercial banks                    512.6    508.9    499.8    541.5    558.0    532.7    540.2    536.2    558.0    550.8    550.8    556.1    557.5 
Finance companies                   167.5    183.3    201.5    219.8    236.5    212.8    214.3    220.9    236.5    232.3    232.3    230.2    230.2 
Credit unions                       152.4    155.4    167.9    184.4    189.6    182.8    186.4    187.3    189.6    186.5    186.5    187.2    188.5 
Savings institutions                 47.2     51.6     61.5     64.6     69.1     65.5     65.3     68.5     69.1     68.6     68.6     69.3     70.0 
Nonfinancial business                78.9     74.9     80.3     82.7     67.9     71.4     68.0     60.2     67.9     58.1     58.1     56.9     55.8 
Pools of securitized assets 6       313.1    372.4    435.1    500.1    581.7    519.2    533.9    557.4    581.7    580.3    580.3    583.9    591.2 
              
Major types of credit 7                        
Revolving                           554.2    586.2    621.9    693.0    728.2    679.6    693.1    694.5    728.2    699.2    699.2    705.1    707.3 
   Commercial banks                 219.8    210.3    189.4    218.1    224.5    207.0    212.5    202.9    224.5    216.3    216.3    221.3    218.3 
   Finance companies                 37.0     31.9     32.5     37.6     31.5     34.9     36.8     35.9     31.5     27.9     27.9     29.0     28.7 
   Credit unions                     19.6     19.9     20.6     22.2     22.3     20.9     21.3     21.6     22.3     20.8     20.8     20.9     20.9 
   Savings institutions              11.4     12.5     15.8     16.6     17.8     17.0     16.4     16.9     17.8     17.0     17.0     17.4     17.9 
   Nonfinancial business             45.0     39.2     42.8     42.4     29.8     33.9     31.4     25.2     29.8     22.4     22.4     21.4     20.3 
   Pools of securitized assets 6    221.5    272.3    320.8    356.1    402.5    365.8    374.8    392.0    402.5    394.8    394.8    395.2    401.2 
              
Nonrevolving                        717.4    760.4    824.2    900.1    974.5    904.8    915.0    936.0    974.5    977.3    977.3    978.5    985.9 
   Commercial banks                 292.7    298.6    310.4    323.4    333.5    325.6    327.8    333.3    333.5    334.5    334.5    334.8    339.2 
   Finance companies                130.5    151.4    169.1    182.2    205.0    177.8    177.4    185.0    205.0    204.3    204.3    201.2    201.6 
   Credit unions                    132.8    135.5    147.3    162.2    167.3    161.9    165.1    165.7    167.3    165.7    165.7    166.3    167.6 
   Savings institutions              35.7     39.2     45.7     48.0     51.3     48.5     49.0     51.6     51.3     51.6     51.6     51.9     52.1 
   Nonfinancial business             34.0     35.7     37.5     40.2     38.1     37.5     36.6     35.0     38.1     35.7     35.7     35.6     35.4 
   Pools of securitized assets 6     91.6    100.1    114.2    144.0    179.2    153.4    159.1    165.4    179.2    185.5    185.5    188.8    190.0 
1. Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate.
2. The series for consumer credit outstanding and its components may contain breaks that result from discontinuities in source data.
Growth rates are adjusted to exclude the effect of such breaks.
3. Percent changes calculated from unrounded data.
4. 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.
5. 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.
6. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of
the loan originators.
7. Includes estimates for holders that do not separately report consumer credit holding by type.
r=revised. p=preliminary.
 



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Last update: July 08, 2002