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

Release Date: August 7, 2003
Release dates | Historical data
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G.19                                                        CONSUMER CREDIT                        For release at 3 p.m. (Eastern Time)
1                                                              June 2003                                                 August 7, 2003

In the second quarter, consumer credit increased at an annual rate of 3-3/4 percent.  Revolving credit posted a 2-3/4 percent gain, while
nonrevolving credit rose 4-1/2 percent.  In June, consumer credit was about unchanged.

CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
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                                                                                 2002                            2003
                                                                        _______________________ _______________________________________

                                 1998    1999    2000    2001   2002 r    Q2     Q3 r    Q4 r    Q1 r    Q2 p    Apr r   May r   Jun p
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Percent change at annual rate 2,3
  Total                            6.0     7.5    10.2     6.9     3.6     5.4     4.0    -0.2     4.3     3.8     6.0     5.6    -0.2
   Revolving                       5.9     6.3    11.6     5.1     1.5     4.7     2.9    -3.1     4.9     2.7     3.4     6.7    -2.2
   Nonrevolving 4                  6.0     8.4     9.1     8.2     5.0     5.8     4.8     1.8     3.8     4.6     7.9     4.8     1.1

Amount: billions of dollars
  Total                         1317.0  1415.5  1559.5  1666.8  1726.1  1710.0  1727.1  1726.1  1744.5  1761.1  1753.3  1761.5  1761.1
   Revolving                     562.5   598.0   667.4   701.3   712.0   712.5   717.6   712.0   720.7   725.5   722.8   726.8   725.5
   Nonrevolving 4                754.5   817.5   892.1   965.5  1014.1   997.5  1009.5  1014.1  1023.9  1035.6  1030.6  1034.7  1035.6
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TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES 5
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                 8.72    8.44    9.34    8.50    7.54    7.74    7.58    7.34    7.11    7.05     n.a.   7.05     n.a.
   24-mo. personal               13.74   13.39   13.90   13.22   12.26   12.57   12.49   12.24   11.70   12.19     n.a.  12.19     n.a.
        Credit card plan
    All accounts                 15.71   15.21   15.71   14.89   13.43   13.55   13.37   13.13   13.20   12.90     n.a.  12.90     n.a.
    Accounts assessed interest   15.59   14.81   14.91   14.44   13.09   13.34   13.26   12.78   12.85   12.82     n.a.  12.82     n.a.

New car loans at auto finance companies
  Interest rates                  6.30    6.66    6.61    5.65    4.29    5.97    2.68    3.18    3.65    2.61    2.51    2.40    2.93
  Maturity (months)               52.1    52.7    54.9    55.1    56.8    57.3    58.9    57.4    59.1    61.1    60.1    60.7    62.4
  Loan-to-value ratio               92      92      92      91      94      92      96      96      96      97      97      97      97
  Amount financed (dollars)     19,083  19,880  20,923  22,822  24,747  23,432  25,959  26,283  25,486  27,468  27,540  27,920  26,945

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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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                                                                                   2002                            2003
                                                                          _______________________ _______________________________________

                                   1998    1999    2000    2001    2002     Q2      Q3      Q4      Q1     Q2 p    Apr r   May r   Jun p
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Total                             1346.6  1446.1  1593.1  1701.9  1762.0  1701.3  1722.0  1762.0  1734.3  1752.0  1741.9  1749.6  1752.0

Major holders
Total                             1346.6  1446.1  1593.1  1701.9  1762.0  1701.3  1722.0  1762.0  1734.3  1752.0  1741.9  1749.6  1752.0
Commercial banks                   508.9   499.8   541.5   558.4   587.2   554.9   575.7   587.2   575.3   581.6   576.0   580.6   581.6
Finance companies                  183.3   201.5   219.8   236.6   232.3   235.6   246.1   232.3   225.2   246.9   231.9   242.2   246.9
Credit unions                      155.4   167.9   184.4   189.6   195.7   191.6   195.9   195.7   193.1   198.0   194.5   195.5   198.0
Savings institutions                51.6    61.5    64.6    69.1    68.5    68.5    65.2    68.5    69.5    70.7    69.9    70.3    70.7
Nonfinancial business               74.9    80.3    82.7    68.0    56.9    53.0    49.2    56.9    48.5    47.5    47.7    48.1    47.5
Pools of securitized assets 6      372.4   435.1   500.1   580.3   621.4   597.7   589.9   621.4   622.7   607.5   621.8   613.0   607.5

Major types of credit 7
Revolving                          586.2   621.9   693.0   727.3   738.0   709.3   711.6   738.0   713.6   722.3   719.0   722.4   722.3
   Commercial banks                210.3   189.4   218.1   224.9   231.0   215.8   226.2   231.0   212.4   216.1   212.6   216.8   216.1
   Finance companies                31.9    32.5    37.6    31.5    38.9    32.1    37.3    38.9    36.4    37.5    38.3    35.9    37.5
   Credit unions                    19.9    20.6    22.2    22.3    22.2    21.0    21.3    22.2    20.8    21.4    21.0    21.2    21.4
   Savings institutions             12.5    15.8    16.6    17.8    16.2    17.8    14.7    16.2    16.0    16.5    16.1    16.3    16.5
   Nonfinancial business            39.2    42.8    42.4    29.8    19.2    17.9    14.1    19.2    13.7    12.9    13.1    13.3    12.9
   Pools of securitized assets 6   272.3   320.8   356.1   401.1   410.4   404.7   398.0   410.4   414.3   418.0   417.8   418.9   418.0

Nonrevolving                       760.4   824.2   900.1   974.6  1024.0   992.0  1010.3  1024.0  1020.7  1029.7  1022.9  1027.3  1029.7
   Commercial banks                298.6   310.4   323.4   333.5   356.2   339.1   349.5   356.2   362.8   365.4   363.4   363.8   365.4
   Finance companies               151.4   169.1   182.2   205.0   193.3   203.5   208.8   193.3   188.9   209.4   193.7   206.3   209.4
   Credit unions                   135.5   147.3   162.2   167.3   173.5   170.6   174.6   173.5   172.3   176.6   173.5   174.3   176.6
   Savings institutions             39.2    45.7    48.0    51.3    52.3    50.7    50.5    52.3    53.6    54.2    53.8    54.0    54.2
   Nonfinancial business            35.7    37.5    40.2    38.2    37.7    35.2    35.0    37.7    34.8    34.6    34.6    34.8    34.6
   Pools of securitized assets 6   100.1   114.2   144.0   179.2   211.0   192.9   191.9   211.0   208.4   189.5   204.0   194.1   189.5

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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Current release  Other formats: Screen reader | ASCII | PDF (15KB)

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