G.19                                                        CONSUMER CREDIT                        For release at 3 p.m. (Eastern Time)
1                                                             August 1997                                               October 7, 1997

Consumer credit outstanding grew at a 4.2 percent seasonally adjusted annual rate in August, following a 5.9 percent gain in July. 
The level of auto credit declined for the first time since March, while revolving credit expanded at a more moderate pace than in July.
"Other" credit rose in August, following two months of decline.


CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
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                                                 1996                                                1997
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                                 Aug.    Sept.   Oct.    Nov.    Dec.    Jan.    Feb.    Mar.    Apr.     May   June r  July r  Aug. p
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Percent change at annual rate 2
  Total                             7.3     2.4     5.8     4.3     0.2    11.0     8.0     2.7     9.6     2.7     0.6     5.9     4.2
   Automobile                       1.5     2.2     4.9    -0.1     5.6     1.0     0.5    -1.1    11.7     2.4    11.4     5.6    -1.7
   Revolving                        7.3     5.6    13.5    13.3     5.5    17.7    12.6    -2.7     6.8     4.1     0.4    15.1     7.1
   Other 3                         14.6    -2.6    -5.4    -4.9   -15.4    13.0     9.9    16.7    11.4     0.7   -13.1    -9.3     7.3

Amount: billions of dollars
  Total                         1,171.6 1,173.9 1,179.6 1,183.8 1,184.0 1,194.9 1,202.8 1,205.5 1,215.1 1,217.8 1,218.4 1,224.4 1,228.7
   Automobile                     386.2   386.9   388.5   388.5   390.3   390.6   390.8   390.4   394.3   395.0   398.8   400.7   400.1
   Revolving                      482.5   484.8   490.3   495.7   498.0   505.3   510.6   509.5   512.4   514.1   514.3   520.8   523.8
   Other 3                        302.8   302.2   300.8   299.6   295.7   298.9   301.4   305.6   308.5   308.7   305.3   303.0   304.8
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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                  9.11    n.a.    n.a.    9.03    n.a.    n.a.    8.92    n.a.    n.a.    9.20    n.a.    n.a.    8.99
   24-mo. personal                13.37    n.a.    n.a.   13.62    n.a.    n.a.   13.46    n.a.    n.a.   13.81    n.a.    n.a.   13.84
   Credit card plan
    All accounts                  15.65    n.a.    n.a.   15.62    n.a.    n.a.   15.88    n.a.    n.a.   15.75    n.a.    n.a.   15.78
    Accounts assessed interest    15.64    n.a.    n.a.   15.52    n.a.    n.a.   15.13    n.a.    n.a.   15.72    n.a.    n.a.   15.79

New car loans at auto finance companies
  Interest rates                  10.49   10.52   10.40   10.31    8.60    7.17    7.44    8.08    8.56    7.80    7.64    6.71    5.93
  Maturity (months)                51.4    51.9    52.5    52.3    52.3    55.1    54.6    53.5    52.8    53.2    53.3    54.6    55.5
  Loan-to-value ratio                92      91      89      90      90      92      92      90      91      93      93      94      93
  Amount financed (dollars)      16,927  17,182  17,435  17,719  17,670  17,090  16,837  17,198  17,620  18,060  18,171  18,281  18,329
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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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                                                 1996                                                1997
                                _______________________________________ _______________________________________________________________

                                 Aug.    Sept.   Oct.    Nov.    Dec.    Jan.    Feb.    Mar.    Apr.     May   June r  July r  Aug. p
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Total                           1,171.6 1,177.3 1,180.2 1,190.3 1,214.9 1,204.5 1,197.1 1,193.9 1,203.3 1,207.7 1,212.8 1,217.4 1,229.0

Major holders
Commercial banks                  516.7   517.1   521.3   523.0   529.4   525.5   518.6   511.5   517.3   518.8   517.1   521.4   523.0
Finance companies                 154.7   154.6   151.4   151.0   152.4   153.5   153.3   153.0   151.9   154.2   155.8   156.1   157.5
Credit unions                     140.0   140.9   143.0   143.3   144.1   144.4   143.8   144.4   146.3   147.6   148.7   150.0   151.3
Savings institutions               44.0    44.9    44.9    44.8    44.7    45.1    45.5    45.9    46.2    46.6    47.0    47.4    47.4
Nonfinancial business              71.0    68.5    68.0    69.8    77.7    73.6    70.6    70.0    69.3    67.7    68.0    67.6    68.6
Pools of securitized assets 5     245.3   251.2   251.7   258.4   266.5   262.5   265.4   269.2   272.2   272.8   276.2   274.9   281.3

Major types of credit 6
Automobile                        388.4   390.4   392.7   392.1   393.2   389.5   387.5   386.7   389.8   391.9   397.9   400.8   402.4
 Commercial banks                 154.5   153.1   154.8   154.8   154.0   153.0   151.8   150.5   150.9   151.8   152.5   154.3   155.0
 Finance companies                 87.2    88.7    88.0    87.6    86.7    86.8    87.1    85.8    83.2    85.1    87.0    88.3    88.4
 Pools of securitized assets 5     48.8    49.5    49.2    49.3    52.4    49.5    48.2    49.3    53.5    51.5    53.7    52.8    52.6

Revolving                         480.7   483.3   487.5   497.8   522.9   513.4   508.6   502.9   504.9   509.2   511.1   515.6   522.0
 Commercial banks                 209.8   211.2   215.0   217.9   228.6   223.2   215.8   207.3   209.0   212.8   213.3   219.0   217.5
 Finance companies                 29.2    29.4    29.6    29.9    32.5    32.3    32.2    33.2    34.3    34.4    34.0    33.1    33.6
 Nonfinancial business             41.3    38.8    38.1    39.3    44.9    41.9    39.8    39.4    39.0    37.1    37.3    36.8    37.6
 Pools of securitized assets 5    174.6   178.0   178.6   184.0   188.7   187.9   192.3   194.5   193.8   195.8   196.7   196.6   202.5

Other                             302.6   303.5   299.9   300.4   298.8   301.6   301.0   304.4   308.5   306.6   303.8   301.0   304.6
 Commercial banks                 152.5   152.8   151.4   150.2   146.8   149.3   151.0   153.8   157.3   154.1   151.2   148.1   150.6
 Finance companies                 38.3    36.5    33.8    33.6    33.2    34.4    34.0    34.0    34.3    34.7    34.8    34.7    35.4
 Nonfinancial business             29.7    29.7    29.8    30.5    32.8    31.7    30.8    30.5    30.4    30.7    30.7    30.8    31.0
 Pools of securitized assets 5     21.8    23.7    23.9    25.1    25.4    25.1    24.9    25.3    24.9    25.5    25.8    25.4    26.1
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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.