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


Release Date: August 07, 1996

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G.19 CONSUMER CREDIT For release at 3 p.m.(Eastern Time)
1 June 1996 August 7, 1996

Consumer credit outstanding grew at an 8.7 percent seasonally adjusted annual rate in June. Growth in auto credit picked up in June,
while that of revolving credit slowed and the level of 'other' credit was about unchanged.

CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
  1995 1996
  June July Aug. Sept. Oct. Nov. Dec. Jan. r Feb. r Mar. r Apr. r May r June p
  Percent change at annual rate 2     
       Total                              14.7     12.2     14.3     16.8      8.9     12.9      9.7      9.9     11.8     10.4      7.4      5.9      8.7 
         Automobile                        8.8     15.4      8.3      6.4     10.8     10.8     13.2      5.0      8.9      8.8      9.1      3.9     17.6 
         Revolving                        22.5     10.8    24.6    29.1    15.2     8.4    19.2    14.7    19.2    15.2    20.0    15.6     7.6
         Other 3                          11.7     10.4      8.3     12.9     -0.6     20.5     -5.4      9.0      5.8      6.0    -10.3     -4.4      0.6 
                                      
  Amount: billions of dollars                                   
       Total                           1,037.0  1,047.5  1,059.9  1,074.7  1,082.7  1,094.4  1,103.2  1,112.2  1,123.2  1,132.9  1,139.8  1,145.4  1,153.7 
         Automobile                      332.6    336.9    339.2    341.0    344.1    347.2    351.1    352.5    355.1    357.8    360.5    361.6    366.9 
         Revolving                       378.8    382.2    390.1    399.5    404.6    407.4    413.9    419.0    425.7    431.0    438.2   443.9     446.7 
         Other 3                         325.6    328.4    330.6    334.2    334.0    339.7    338.2    340.7    342.4    344.1    341.1    339.9    340.1 
              
  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                   n.a.     n.a.     9.44     n.a.     n.a.     9.36     n.a.     n.a.     9.12     n.a.     n.a.     8.93     n.a. 
         24-mo. personal              
         Credit card plan             
   n.a.     n.a.    13.84     n.a.     n.a.    13.80     n.a.     n.a.    13.63     n.a.     n.a.    13.52     n.a. 
           All accounts                   n.a.     n.a.    15.98     n.a.     n.a.    15.81     n.a.     n.a.    15.82     n.a.     n.a.    15.44     n.a. 
           Accounts assessed interest     n.a.     n.a.    15.94     n.a.     n.a.    15.71     n.a.     n.a.    15.41     n.a.     n.a.    15.41     n.a. 
                
  New car loans at auto finance companies                                                                               
       Interest rates                    11.08    11.01    10.85    10.75    10.89    10.84    10.52     9.74     9.86     9.77     9.64     9.37     9.53 
       Maturity (months)                  53.9     54.1     53.5     53.4     54.6     54.5     53.6     51.8     52.3     51.8     51.5     50.8     50.4 
       Loan-to-value ratio                  92       92       92       92       92       92       92       92       91       91       91       91       91 
       Amount financed (dollars)        16,083   16,086   16,056   16,402   16,430   16,583   17,034   16,698   16,627   16,520   16,605   16,686   16,854 
  Footnotes appear on reverse.



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

  1995 1996
  June July Aug. Sept. Oct. Nov. Dec. Jan. r Feb. r Mar. r Apr. r May r June p
                                                               
   Total                              1,030.8  1,038.9  1,057.2  1,078.2  1,084.1  1,101.4  1,131.7  1,122.5  1,120.3  1,122.5  1,129.1  1,135.7  1,146.5 
                                                               
   Major holders                                               
   Commercial banks                     476.3    480.5    490.4    492.4    491.8    496.0    507.4    501.1    498.8    498.3    503.4    502.2    504.9 
   Finance companies                    141.7    142.2    145.5    146.2    148.7    147.1    152.6    152.6    154.4    151.7    153.3    155.9    154.6 
   Credit unions                        125.7    126.8    128.7    129.2    130.3    130.9    131.9    131.3    130.8    130.8    131.8    133.4    134.7 
   Savings institutions                  38.5     38.9     39.3     39.7     40.1     40.5     40.1     40.2     40.4     40.8     41.0     41.0     40.3 
   Nonfinancial business                 80.5     80.0     78.6     78.3     78.8     77.9     85.1     80.7     78.1     76.7     73.8     74.7     72.5 
   Pools of securitized assets 5        168.1    170.5    174.8    192.4    194.5    208.9    214.6    216.6    217.7    224.2    225.8    228.6    239.5 
                                                               
   Major types of credit 6                                     
   Automobile                           331.4    335.7    340.5    344.1    348.1    351.0    354.3    352.0    352.9    354.1    356.0    358.9    365.4 
      Commercial banks                  143.0    145.5    147.2    146.9    150.1    148.0    149.1    148.2    147.7    148.5    150.4    151.3    153.8 
      Finance companies                  65.2     65.9     68.3     68.9     70.8     68.2     70.6     71.4     73.3     72.1     73.8     74.3     74.3 
      Pools of securitized assets 5      37.1     37.4     36.9     39.1     37.2     44.7     44.6     42.4     41.6     42.8     40.5     41.0     44.8 
                                                               
   Revolving                            374.6    376.9    387.5    399.3    404.0    410.5    435.7    426.0    424.5    425.7    431.5    438.0    441.8 
      Commercial banks                  187.3    187.4    195.4    195.0    195.9    197.1    210.3    200.1    198.9    196.8    201.9    205.0    204.7 
      Nonfinancial business              52.1     51.7     49.8     49.6     50.0     48.5     53.5     50.5     48.6     47.4     44.5     45.2     43.1 
      Pools of securitized assets 5     114.1    116.5    120.3    132.8    135.7    141.9    147.9    151.6    153.4    157.7    161.2    163.8    169.9 
                                                               
   Other                                324.8    326.3    329.2    334.8    332.1    339.8    341.8    344.5    342.8    342.8    341.6    338.7    339.3 
      Commercial banks                  146.0    147.7    147.7    150.5    145.7    150.9    148.0    152.8    152.2    153.0    151.0    145.9    146.4 
      Finance companies                  76.6     76.3     77.3     77.3     77.9     78.9     82.0     81.2     81.1     79.6     79.5     81.6     80.3 
      Nonfinancial business              28.4     28.4     28.7     28.7     28.8     29.4     31.5     30.2     29.5     29.3     29.2     29.5     29.4 
      Pools of securitized assets 5      16.9     16.6     17.5     20.4     21.5     22.3     22.1     22.6     22.7     23.7     24.1     23.8     24.8 
 
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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