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

Release Date: July 8, 2008
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G.19                                                        CONSUMER CREDIT                        For release at 3 p.m. (Eastern Time)
1                                                              May 2008                                                    July 8, 2008

Consumer credit increased at an annual rate of 3-1/2 percent in May.  Revolving credit rose at an annual rate of 7 percent, and
nonrevolving credit rose at an annual rate of 1-1/2 percent.

CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
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                                                                                     2007                            2008
                                                                        _______________________________ _______________________________

                                 2003    2004    2005    2006    2007     Q1      Q2      Q3      Q4     Q1 r    Mar r   Apr r   May p
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Percent change at annual rate 2
  Total                            5.3     5.5     4.3     4.5     5.7     4.7     5.6     8.2     3.9     5.0     5.9     3.6     3.6
   Revolving                       2.9     3.8     3.1     6.1     7.4     5.4     6.8     8.6     8.2     6.8     7.4    -0.5     7.1
   Nonrevolving 3                  6.7     6.4     4.9     3.6     4.7     4.4     4.9     7.9     1.3     3.9     5.1     6.1     1.6

Amount: billions of dollars
  Total                         2078.0  2191.3  2284.9  2387.5  2523.6  2415.7  2449.6  2499.6  2523.6  2555.0  2555.0  2562.8  2570.6
   Revolving                     770.5   800.0   825.0   875.4   940.6   887.2   902.2   921.6   940.6   956.6   956.6   956.2   961.8
   Nonrevolving 3               1307.5  1391.3  1459.9  1512.1  1583.0  1528.5  1547.4  1577.9  1583.0  1598.5  1598.5  1606.6  1608.7
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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                 6.93    6.60    7.08    7.72    7.77    7.74    7.92    7.82    7.59    7.27     n.a.    n.a.   6.81
   24-mo. personal               11.95   11.89   12.05   12.41   12.39   12.32   12.57   12.51   12.16   11.43     n.a.    n.a.  11.09
        Credit card plan
    All accounts                 12.30   12.72   12.51   13.21   13.38   13.41   13.46   13.58   13.08   12.48     n.a.    n.a.  11.87
    Accounts assessed interest   12.73   13.22   14.55   14.73   14.67   14.64   14.47   15.24   14.34   13.72     n.a.    n.a.  13.48

New car loans at auto finance companies
  Interest rates                  3.81    4.92    6.02    4.99    4.87    4.99    5.08    4.85    4.55    4.85    4.19    4.54    5.71
  Maturity (months)               61.3    60.7    60.0    63.0    62.0    61.3    61.7    62.1    62.9    62.6    62.3    63.1    64.0
  Loan-to-value ratio               95      89      88      94      95      94      96      95      95      94      94      94      93
  Amount financed (dollars)     26,295  24,888  24,133  26,620  28,287  27,586  27,702  28,349  29,512  28,174  28,173  27,397  24,911

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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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                                                                                           2007                            2008
                                                                              _______________________________ _______________________________

                                       2003    2004    2005    2006    2007     Q1      Q2      Q3      Q4     Q1 r    Mar r   Apr r   May p
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Total                                 2104.4  2219.4  2313.9  2418.3  2556.6  2399.5  2433.3  2506.1  2556.6  2537.7  2537.7  2548.6  2555.4

Major holders
Total                                 2104.4  2219.4  2313.9  2418.3  2556.6  2399.5  2433.3  2506.1  2556.6  2537.7  2537.7  2548.6  2555.4
Commercial banks                       669.4   704.3   707.0   741.2   804.1   723.3   737.9   771.5   804.1   796.3   796.3   808.0   809.0
Finance companies                      393.0   492.3   516.5   534.4   583.9   532.4   543.4   568.7   583.9   582.5   582.5   583.9   583.6
Credit unions                          205.9   215.4   228.6   234.5   235.7   232.3   233.0   237.9   235.7   230.5   230.5   231.7   232.7
Federal government and Sallie Mae      102.9    86.1    89.8    91.7    98.4    95.1    94.6    98.0    98.4   103.5   103.5   103.8   104.0
Savings institutions                    77.9    91.3   109.1    95.5    90.8    94.6    97.2    87.0    90.8    87.5    87.5    88.1    88.7
Nonfinancial business                   58.5    58.6    58.8    56.8    55.2    53.0    53.5    53.8    55.2    51.2    51.2    51.1    51.3
Pools of securitized assets 5          596.8   571.5   604.0   664.2   688.6   668.9   673.8   689.1   688.6   686.1   686.1   681.9   686.2

Major types of credit
Revolving                              791.9   823.7   850.0   902.3   969.5   875.0   896.7   920.9   969.5   943.5   943.5   948.5   954.1
   Commercial banks                    285.0   314.6   311.2   327.3   353.4   299.2   311.0   322.4   353.4   322.5   322.5   327.7   327.2
   Finance companies                    45.3    50.4    66.3    79.9    86.0    72.9    75.1    78.3    86.0    82.1    82.1    82.1    82.3
   Credit unions                        22.4    23.2    24.7    27.4    31.1    26.6    27.7    29.0    31.1    30.5    30.5    30.7    31.1
   Federal government and Sallie Mae     n.a.    n.a.    n.a.    n.a.    n.a.    n.a.    n.a.    n.a.    n.a.    n.a.    n.a.    n.a.    n.a.
   Savings institutions                 23.8    27.9    40.8    42.5    44.8    41.6    42.5    39.6    44.8    42.8    42.8    43.5    44.3
   Nonfinancial business                14.5    12.4    11.6     7.8     4.2     7.1     7.2     7.3     4.2     3.7     3.7     3.7     3.7
   Pools of securitized assets 5       400.9   395.2   395.4   417.5   450.0   427.6   433.2   444.2   450.0   462.1   462.1   460.7   465.5

Nonrevolving                          1312.5  1395.7  1463.9  1515.9  1587.1  1524.5  1536.6  1585.2  1587.1  1594.3  1594.3  1600.1  1601.3
   Commercial banks                    384.4   389.6   395.8   413.9   450.7   424.1   426.9   449.1   450.7   473.8   473.8   480.3   481.8
   Finance companies                   347.8   442.0   450.2   454.5   497.8   459.4   468.3   490.4   497.8   500.4   500.4   501.8   501.3
   Credit unions                       183.5   192.1   203.9   207.1   204.6   205.7   205.2   209.0   204.6   200.1   200.1   201.0   201.5
   Federal government and Sallie Mae   102.9    86.1    89.8    91.7    98.4    95.1    94.6    98.0    98.4   103.5   103.5   103.8   104.0
   Savings institutions                 54.0    63.4    68.3    53.1    46.0    53.0    54.7    47.4    46.0    44.8    44.8    44.6    44.4
   Nonfinancial business                44.0    46.2    47.2    49.0    50.9    45.9    46.3    46.5    50.9    47.6    47.6    47.4    47.6
   Pools of securitized assets 5       195.9   176.3   208.6   246.7   238.6   241.3   240.6   244.9   238.6   224.0   224.0   221.2   220.6

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.
Percent changes are adjusted to exclude the effect of such breaks. In addition percent changes are at a simple annual rate and are
calculated from unrounded data.
3. Includes automobile loans and all other loans not included in revolving credit, such as loans for mobile homes, 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.
r=revised.  p=preliminary.
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