G.19                                                        CONSUMER CREDIT                        For release at 3 p.m. (Eastern Time)
1                                                            February 1999                                                April 7, 1999  

Consumer credit grew at about an 8 percent annual rate in February, down from about 14 percent in January.  Growth in all major
categories slowed in February, though the rise in auto loans remained quite rapid.

CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
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                                                                         1998                                                1999
                                _______________________________________________________________________________________ _______________

                                 Feb.    Mar.    Apr.     May    June   July r  Aug. r  Sept. r Oct. r  Nov. r  Dec. r  Jan. r  Feb. p
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Percent change at annual rate 2
  Total                             4.9     6.6     4.3     2.3     9.0     5.4     6.6     6.9    10.6     1.6     2.4    14.1     7.9
   Automobile                       4.2     8.8     4.1     4.0     8.2     8.0    12.1     8.1     6.1    12.6    12.4    19.0    13.7
   Revolving                        5.1     9.1     5.4    -1.4     9.2    -4.2    10.7     7.5    13.0    -2.4     8.6    13.2     4.8
   Other 3                          5.5    -1.2     2.3     6.9     9.6    19.6    -8.9     4.2    12.7    -7.2   -24.1     8.2     5.1

Amount: billions of dollars
  Total                         1,240.5 1,247.3 1,251.8 1,254.2 1,263.5 1,269.2 1,276.2 1,283.6 1,294.9 1,296.6 1,299.2 1,314.5 1,323.2
   Automobile                     416.7   419.8   421.2   422.6   425.5   428.3   432.7   435.6   437.8   442.4   447.0   454.1   459.3
   Revolving                      535.3   539.4   541.8   541.2   545.3   543.4   548.3   551.7   557.6   556.5   560.5   566.7   569.0
   Other 3                        288.4   288.2   288.7   290.4   292.7   297.5   295.3   296.3   299.5   297.7   291.7   293.7   294.9
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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                  8.87    n.a.    n.a.    8.69    n.a.    n.a.    8.71    n.a.    n.a.    8.62    n.a.    n.a.    8.34
   24-mo. personal                14.01    n.a.    n.a.   13.76    n.a.    n.a.   13.45    n.a.    n.a.   13.75    n.a.    n.a.   13.41
   Credit card plan
    All accounts                  15.65    n.a.    n.a.   15.67    n.a.    n.a.   15.83    n.a.    n.a.   15.69    n.a.    n.a.   15.41
    Accounts assessed interest    15.33    n.a.    n.a.   15.62    n.a.    n.a.   15.85    n.a.    n.a.   15.54    n.a.    n.a.   14.73

New car loans at auto finance companies
  Interest rates                   6.98    6.47    6.20    6.07    6.02    6.23    6.00    5.92    6.33    6.79    6.43    6.22    6.43
  Maturity (months)                52.6    51.5    50.7    50.8    50.9    51.7    53.0    53.1    53.1    52.8    52.2    52.1    53.4
  Loan-to-value ratio                92      92      91      93      91      92      93      93      92      91      91      92      92
  Amount financed (dollars)      18,825  18,932  18,922  18,793  18,878  19,084  19,068  19,028  19,199  19,590  19,734  19,628  19,304
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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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                                                                         1998                                                1999
                                _______________________________________________________________________________________ _______________

                                 Feb.    Mar.    Apr.     May    June   July r  Aug. r  Sept. r Oct. r  Nov. r  Dec. r  Jan. r  Feb. p
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Total                           1,234.2 1,236.0 1,241.1 1,243.1 1,256.8 1,262.4 1,276.4 1,286.6 1,297.6 1,304.5 1,331.7 1,323.3 1,316.3

Major holders
Commercial banks                  492.5   492.1   500.1   497.3   491.4   491.4   498.2   497.9   502.1   498.8   508.9   507.3   497.7
Finance companies                 155.7   156.5   154.3   153.6   154.3   156.1   159.6   159.1   165.6   166.6   168.5   167.3   169.7
Credit unions                     150.8   150.7   151.1   152.2   152.4   153.5   153.6   154.3   155.0   155.2   155.4   155.7   155.1
Savings institutions               47.1    47.1    47.5    47.9    48.3    49.0    49.6    50.3    51.0    51.6    51.6    52.0    52.5
Nonfinancial business              72.8    72.7    65.1    65.2    65.3    65.5    66.0    65.5    66.0    66.6    74.9    71.0    67.9
Pools of securitized assets 5     315.3   316.8   323.1   326.9   345.1   346.9   349.4   359.4   358.0   365.6   372.4   370.0   373.4

Major types of credit 6
Automobile                        412.1   415.5   416.0   418.2   425.2   429.9   435.4   439.6   443.1   446.6   451.0   452.2   454.1
 Commercial banks                 152.7   153.9   151.3   151.7   150.9   153.2   155.5   156.3   156.8   157.1   158.1   160.3   159.9
 Finance companies                 84.7    86.8    90.6    89.6    89.9    91.7    95.3    96.2    97.6    99.0   103.1   102.8   105.0
 Pools of securitized assets 5     66.0    65.1    63.7    66.0    71.6    72.5    70.8    72.1    71.8    72.6    73.0    73.2    73.2

Revolving                         535.3   534.1   535.6   535.6   539.6   537.2   545.1   549.0   556.0   559.2   586.5   575.7   569.0
 Commercial banks                 204.6   201.3   209.2   207.3   200.9   197.6   200.4   197.6   200.9   196.9   210.3   204.8   197.6
 Finance companies                 36.9    36.6    30.4    30.5    29.9    29.4    29.6    28.4    33.3    33.1    32.3    32.4    32.2
 Nonfinancial business             41.0    41.2    33.5    33.4    33.5    33.8    34.0    33.7    33.8    33.8    39.2    36.4    34.3
 Pools of securitized assets 5    223.4   226.2   233.7   235.3   245.6   246.6   251.2   259.3   258.1   265.3   272.3   269.9   272.6

Other                             286.8   286.4   289.6   289.2   292.0   295.2   296.0   298.0   298.5   298.7   294.2   295.4   293.2
 Commercial banks                 135.2   136.9   139.7   138.3   139.6   140.6   142.2   144.0   144.4   144.8   140.5   142.2   140.2
 Finance companies                 34.1    33.0    33.4    33.5    34.4    35.0    34.7    34.6    34.6    34.6    33.1    32.1    32.5
 Nonfinancial business             31.8    31.5    31.6    31.8    31.7    31.7    32.0    31.8    32.2    32.9    35.7    34.6    33.6
 Pools of securitized assets 5     26.0    25.6    25.6    25.5    27.9    27.8    27.5    27.9    28.1    27.7    27.1    26.8    27.7
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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.