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

Release Date: January 8, 2010
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G.19                                                        CONSUMER CREDIT                        For release at 3 p.m. (Eastern Time)
1                                                            November 2009                                              January 8, 2010

Consumer credit decreased at an annual rate of 8-1/2 percent in November. Revolving credit decreased at an annual rate of 18-1/2 percent, 
and nonrevolving credit decreased at an annual rate of 3 percent.


CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
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                                                                             2008                            2009
                                                                        _______________ _______________________________________________

                                 2004    2005    2006    2007    2008     Q3      Q4      Q1      Q2     Q3 r    Sep r   Oct r   Nov p
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Percent change at annual rate 2
  Total                            5.6     4.5     4.1     5.6     1.6     0.6    -3.0    -3.5    -4.8    -3.3    -4.3    -2.0    -8.5
   Revolving                       4.1     3.8     5.0     7.8     1.9     3.3    -7.3    -9.6    -9.7    -7.3   -10.5    -9.9   -18.5
   Nonrevolving 3                  6.4     4.9     3.6     4.4     1.4    -1.0    -0.4     0.2    -1.9    -1.0    -0.7     2.4    -2.9

Amount: billions of dollars
  Total                         2191.5  2291.0  2384.8  2519.5  2559.1  2578.3  2559.1  2537.0  2506.8  2486.3  2486.3  2482.1  2464.6
   Revolving                     799.2   829.8   871.3   939.6   957.3   975.2   957.3   934.3   911.7   895.0   895.0   887.7   874.0
   Nonrevolving 3               1392.3  1461.2  1513.5  1579.9  1601.8  1603.2  1601.8  1602.7  1595.1  1591.2  1591.2  1594.4  1590.6
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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                 6.60    7.07    7.72    7.77    7.02    6.92    7.06    6.92    6.79    6.61     n.a.    n.a.   6.55
   24-mo. personal               11.89   12.06   12.41   12.38   11.37   11.48   11.44   11.05   11.25   10.89     n.a.    n.a.  11.20
        Credit card plan
    All accounts                 12.72   12.51   13.21   13.30   12.08   11.94   12.03   12.97   13.32   13.71     n.a.    n.a.  13.59
    Accounts assessed interest   13.22   14.55   14.73   14.68   13.57   13.64   13.36   13.54   14.43   14.90     n.a.    n.a.  14.37

New car loans at auto finance companies
  Interest rates                  4.92    6.02    4.99    4.87    5.52    4.87    7.09    4.71    3.45    3.66    3.50    3.42    3.73
  Maturity (months)               60.7    60.0    63.0    62.0    63.4    65.4    62.3    59.3    62.1    62.7    63.6    64.4    63.4
  Loan-to-value ratio               89      88      94      95      91      89      86      87      92      90      91      93      91
  Amount financed (dollars)     24,888  24,133  26,620  28,287  26,178  26,643  24,400  25,518  28,577  27,884  30,380  32,223  30,506

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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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                                                                               2008                            2009
                                                                          _______________ _______________________________________________

                                   2004    2005    2006    2007    2008     Q3      Q4      Q1      Q2     Q3 r    Sep r   Oct r   Nov p
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Total                             2219.5  2319.8  2415.0  2551.9  2592.1  2588.0  2592.1  2518.6  2488.6  2496.0  2496.0  2487.4  2478.2

Major holders
Total                             2219.5  2319.8  2415.0  2551.9  2592.1  2588.0  2592.1  2518.6  2488.6  2496.0  2496.0  2487.4  2478.2
Commercial banks                   704.3   707.0   741.2   804.1   878.6   844.1   878.6   850.7   837.8   832.7   832.7   828.9   831.5
Finance companies                  492.3   516.5   534.4   584.1   575.8   596.3   575.8   546.8   526.5   520.7   520.7   498.7   495.4
Credit unions                      215.4   228.6   234.5   235.7   235.0   236.1   235.0   234.8   236.2   240.5   240.5   240.6   237.4
Federal government 5                86.1    89.8    91.7    98.4   111.0   106.9   111.0   122.7   135.4   157.8   157.8   182.4   183.8
Savings institutions                91.3   109.1    95.5    90.8    86.3    79.3    86.3    80.0    75.9    78.1    78.1    79.6    81.0
Nonfinancial business               58.6    58.8    56.7    55.3    55.3    51.6    55.3    50.5    49.3    48.5    48.5    48.4    49.2
Pools of securitized assets 6      571.5   609.9   661.1   683.6   650.0   673.7   650.0   633.0   627.5   617.7   617.7   608.8   599.8

Major types of credit
Revolving                          823.8   855.9   899.2   969.9   988.2   972.5   988.2   922.4   904.4   892.6   892.6   885.5   882.9
   Commercial banks                314.6   311.2   327.3   353.4   390.6   356.3   390.6   355.6   343.7   338.0   338.0   338.0   339.8
   Finance companies                50.4    66.3    79.9    86.0    74.4    83.3    74.4    52.0    50.0    47.3    47.3    46.9    46.9
   Credit unions                    23.2    24.7    27.4    31.1    33.4    32.2    33.4    32.2    33.5    34.2    34.2    34.2    34.5
   Federal government 5              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             27.9    40.8    42.5    44.8    39.6    36.1    39.6    35.9    33.9    36.3    36.3    36.6    36.9
   Nonfinancial business            12.4    11.6     7.8     4.6     4.2     3.8     4.2     3.7     3.7     3.8     3.8     3.8     4.0
   Pools of securitized assets 6   395.2   401.4   414.4   450.0   446.0   460.8   446.0   443.1   439.6   433.0   433.0   426.0   420.8

Nonrevolving                      1395.7  1463.9  1515.8  1582.1  1603.9  1615.4  1603.9  1596.2  1584.2  1603.4  1603.4  1601.9  1595.3
   Commercial banks                389.6   395.8   413.9   450.7   488.1   487.8   488.1   495.1   494.1   494.7   494.7   490.9   491.7
   Finance companies               442.0   450.2   454.5   498.0   501.3   512.9   501.3   494.9   476.6   473.3   473.3   451.8   448.5
   Credit unions                   192.1   203.9   207.1   204.6   201.6   203.9   201.6   202.7   202.8   206.3   206.3   206.4   202.9
   Federal government 5             86.1    89.8    91.7    98.4   111.0   106.9   111.0   122.7   135.4   157.8   157.8   182.4   183.8
   Savings institutions             63.4    68.3    53.1    46.0    46.8    43.2    46.8    44.2    42.0    41.8    41.8    43.0    44.2
   Nonfinancial business            46.2    47.2    48.9    50.7    51.1    47.8    51.1    46.8    45.5    44.7    44.7    44.6    45.2
   Pools of securitized assets 6   176.3   208.6   246.7   233.6   204.0   212.9   204.0   189.9   187.8   184.8   184.8   182.8   179.0

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.
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. Data for the Student Loan Marketing Association (Sallie Mae) are included in the Federal government sector until the completion
of Sallie Mae's privatization in 2004:Q4 and in the Finance company sector thereafter.
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.
r=revised.  p=preliminary.
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