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

Release Date: July 8, 1997

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  G.19                                                          CONSUMER CREDIT                            For release at 3 p.m.(Eastern Time)
  1                                                                 May 1997                                                      July 8, 1997  
 
  Consumer credit outstanding grew at a 2.9 percent seasonally adjusted annual rate in May, following an upward-revised 9.7 percent increase
  in April.  Growth of revolving credit slowed sharply in May, while auto loans outstanding contracted.  "Other" consumer credit growth picked
  up in May.
 
  CONSUMER CREDIT OUTSTANDING 1
  Seasonally adjusted
  --------------------------------------------------------------------------------------------------------------------------------------------
                                                                    1996                                                1997
                                       _______________________________________________________________ _______________________________________
 
                                           May    June    July    Aug.   Sept.    Oct.    Nov.  Dec. r  Jan. r  Feb. r  Mar. r  Apr. r   May p
                                       ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
  --------------------------------------------------------------------------------------------------------------------------------------------
  Percent change at annual rate 2
       Total                               6.8     7.1    14.2     8.3     0.8     7.9     4.9     2.3    10.0     6.2     2.7     9.7     2.9
         Automobile                        3.8    17.9    17.9    -1.3     1.9     5.8    -1.7     1.8     2.6     0.2    -3.3    14.5    -5.4
         Revolving                        15.3     5.4    15.2     8.8    -1.2    11.8    15.3     9.3    19.6    10.6     1.8    13.4     1.8
         Other 3                          -0.9    -2.1     8.8    18.0     2.2     5.1    -1.4    -6.2     5.0     6.8    10.1    -0.3    13.3
 
  Amount: billions of dollars
       Total                           1,148.3 1,155.1 1,168.7 1,176.8 1,177.6 1,185.3 1,190.2 1,192.5 1,202.4 1,208.7 1,211.4 1,221.1 1,224.1
         Automobile                      362.3   367.7   373.2   372.8   373.4   375.2   374.6   375.2   376.0   376.0   375.0   379.5   377.8
         Revolving                       443.5   445.4   451.1   454.4   454.0   458.4   464.3   467.9   475.5   479.7   480.4   485.8   486.5
         Other 3                         342.5   341.9   344.5   349.6   350.2   351.7   351.3   349.5   351.0   353.0   355.9   355.8   359.8
  --------------------------------------------------------------------------------------------------------------------------------------------
 
  TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES 4
  Percent except as noted: not seasonally adjusted
  --------------------------------------------------------------------------------------------------------------------------------------------
  Institution, terms, and type of loan
  --------------------------------------------------------------------------------------------------------------------------------------------
  Commercial banks
       Interest rates
         48-mo. new car                   8.93    n.a.    n.a.    9.11    n.a.    n.a.    9.03    n.a.    n.a.    8.92    n.a.    n.a.    9.20
         24-mo. personal                 13.52    n.a.    n.a.   13.37    n.a.    n.a.   13.62    n.a.    n.a.   13.46    n.a.    n.a.   13.81
         Credit card plan
           All accounts                  15.44    n.a.    n.a.   15.65    n.a.    n.a.   15.62    n.a.    n.a.   15.88    n.a.    n.a.   15.75
           Accounts assessed interest    15.41    n.a.    n.a.   15.64    n.a.    n.a.   15.52    n.a.    n.a.   15.13    n.a.    n.a.   15.72
 
  New car loans at auto finance companies
       Interest rates                     9.37    9.53    9.81   10.49   10.52   10.40   10.31    8.60    7.17    7.44    8.08    8.56    7.80
       Maturity (months)                  50.8    50.4    50.5    51.4    51.9    52.5    52.3    52.3    55.1    54.6    53.5    52.8    53.2
       Loan-to-value ratio                  91      91      91      92      91      89      90      90      92      92      90      91      93
       Amount financed (dollars)        16,686  16,854  16,926  16,927  17,182  17,435  17,719  17,670  17,090  16,837  17,198  17,620  18,060
  --------------------------------------------------------------------------------------------------------------------------------------------
  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
 
    -----------------------------------------------------------------------------------------------------------------------------------------
                                                                   1996                                                1997
                                      _______________________________________________________________ _______________________________________
 
                                          May    June    July    Aug.   Sept.    Oct.    Nov.  Dec. r  Jan. r  Feb. r  Mar. r  Apr. r   May p
                                      ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
    -----------------------------------------------------------------------------------------------------------------------------------------
 
    Total                             1,138.5 1,147.9 1,159.0 1,173.6 1,181.6 1,187.1 1,198.1 1,224.4 1,213.6 1,205.4 1,200.1 1,209.5 1,213.6
 
    Major holders
    Commercial banks                    502.3   505.7   510.2   516.7   517.1   521.3   523.0   529.4   525.7   518.9   512.0   517.2   518.5
    Finance companies                   155.9   153.8   154.8   153.4   154.8   153.4   153.2   154.5   154.9   154.1   150.4   149.9   152.3
    Credit unions                       134.6   136.1   137.9   140.0   140.9   143.0   143.3   144.1   144.4   143.8   144.4   146.3   147.4
    Savings institutions                 41.6    41.1    43.0    44.0    44.9    44.9    44.8    44.7    45.1    45.5    45.9    46.2    46.6
    Nonfinancial business                74.6    72.0    69.9    71.0    68.5    68.0    69.8    79.7    75.6    72.6    74.5    74.1    74.1
    Pools of securitized assets 5       229.5   239.3   243.1   248.6   255.3   256.5   264.1   271.9   267.9   270.5   272.9   275.8   274.7
 
    Major types of credit 6
    Automobile                          359.6   366.2   372.0   374.2   376.8   379.5   378.8   378.8   375.6   373.7   371.0   374.9   375.0
       Commercial banks                 150.5   152.9   153.9   154.5   153.1   154.8   154.8   154.0   153.0   151.8   150.5   151.3   150.8
       Finance companies                 74.3    74.3    75.7    74.4    76.3    75.9    75.3    73.5    73.9    74.3    73.1    70.8    72.1
       Pools of securitized assets 5     41.2    45.3    46.4    47.5    48.1    48.0    48.2    51.2    48.5    47.1    46.3    50.7    48.5
 
    Revolving                           437.6   440.6   444.7   451.5   453.9   457.9   468.0   492.4   483.2   478.4   474.4   478.4   480.1
       Commercial banks                 203.4   204.0   207.3   209.8   211.2   215.0   217.9   228.6   223.2   215.8   207.3   212.5   212.7
       Nonfinancial business             45.2    42.6    40.5    41.3    38.8    38.1    39.3    46.9    43.9    41.8    44.0    43.6    43.4
       Pools of securitized assets 5    164.5   169.2   171.6   174.6   178.0   178.6   184.0   188.7   187.9   192.3   194.8   193.5   194.7
 
    Other                               341.3   341.1   342.3   348.0   350.9   349.7   351.4   353.3   354.9   353.4   354.6   356.2   358.5
       Commercial banks                 148.4   148.7   149.1   152.5   152.8   151.4   150.2   146.8   149.6   151.3   154.3   153.4   155.0
       Finance companies                 81.6    79.5    79.1    78.9    78.5    77.5    77.9    81.0    80.9    79.8    77.3    79.2    80.2
       Nonfinancial business             29.5    29.4    29.4    29.7    29.7    29.8    30.5    32.8    31.7    30.8    30.5    30.5    30.7
       Pools of securitized assets 5     23.8    24.8    25.1    26.5    29.2    29.9    31.8    32.1    31.5    31.1    31.8    31.6    31.4
    -----------------------------------------------------------------------------------------------------------------------------------------
 
    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 mobile home loans and all other loans not included in automobile or revolving credit, such as loans for 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.
    6. 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 8, 1997