Consumer installment credit data have been revised to
incorporate results of the annual benchmark and updated seasonal
adjustment factors.  In addition, the measure of consumer credit has
been broadened to include noninstallment consumer credit, which
currently amounts to about $65 billion, or 6 percent of the total of
installment plus noninstallment credit; this change has had little
impact on long-term growth trends.  Consumer credit will continue to
be reported as three separate components: automobile credit, revolving
credit, and `other' credit.  All noninstallment credit will be
included in the `other' category.
             This release includes revised data from the beginning 
of 1990.  A diskette containing complete historical data for all
series shown in this release is available from the Federal Reserve
Board's Publications Section , Mail Stop 127, Board of Governors of
the Federal Reserve System, Washington, DC,  20551, (202) 452-3245.  
 

 

 

 

 

 

 

  G.19                                                          CONSUMER CREDIT                                          For immediate release
  1                                                                April 1996                                                    June 11, 1996
 

  Consumer credit outstanding grew at a 6.9 percent seasonally adjusted annual rate in April.  The consumer installment credit data have been
  revised to reflect annual benchmarking and recalculation of seasonal factors.  In addition, the measure of consumer credit has been 
  broadened to include noninstallment consumer credit; this change has had little impact on long-term growth trends.
 

 

  CONSUMER CREDIT OUTSTANDING 1
  Seasonally adjusted

  Footnotes appear on reverse.
 

 

 

    1
    CONSUMER CREDIT OUTSTANDING
    (Billions of dollars)
    Not seasonally adjusted
 

 

    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.