G.19                                                          CONSUMER CREDIT                            For release at 3 p.m.(Eastern Time)
  1                                                              December 1996                                                February 7, 1997
 
  Consumer credit outstanding grew at a 4.9 percent seasonally adjusted annual rate in December, following a downward revised 5.1 percent
  gain in November.  Revolving credit growth slowed, while growth in closed-end loans (auto plus "other") picked up from the November pace.
 
  CONSUMER CREDIT OUTSTANDING 1
  Seasonally adjusted
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                                        1995                                                1996
                                       _______ _______________________________________________________________________________________________
 
                                          Dec.  Jan. r  Feb. r  Mar. r  Apr. r   May r  June r  July r  Aug. r Sept. r  Oct. r  Nov. r  Dec. p
                                       ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
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  Percent change at annual rate 2
       Total                               9.8     8.5    11.9    12.0     9.0     6.8     7.1    14.6     8.6     1.1     7.0     5.1     4.9
         Automobile                       12.5     7.2     9.6     9.5     8.6     3.8    17.9    19.1    -0.1     3.1     7.3    -0.3     1.9
         Revolving                        19.2    14.8    19.2    15.8    18.1    15.3     5.4    15.0     8.6    -1.4     7.0    10.6     6.2
         Other 3                          -4.2     2.0     5.3     9.7    -2.1    -0.9    -2.1     9.2    18.0     2.4     6.5     3.9     6.3
 
  Amount: billions of dollars
       Total                           1,103.3 1,111.1 1,122.1 1,133.3 1,141.8 1,148.3 1,155.1 1,169.1 1,177.5 1,178.6 1,185.4 1,190.5 1,195.4    
         Automobile                      350.8   352.9   355.8   358.6   361.2   362.3   367.7   373.6   373.5   374.5   376.8   376.7   377.3
         Revolving                       413.9   419.0   425.7   431.3   437.9   443.5   445.4   451.0   454.3   453.7   456.4   460.4   462.8
         Other 3                         338.6   339.1   340.6   343.4   342.8   342.5   341.9   344.5   349.7   350.4   352.3   353.5   355.3
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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                   n.a.    n.a.    9.12    n.a.    n.a.    8.93    n.a.    n.a.    9.11    n.a.    n.a.    9.03    n.a.
         24-mo. personal                  n.a.    n.a.   13.63    n.a.    n.a.   13.52    n.a.    n.a.   13.37    n.a.    n.a.   13.62    n.a.
         Credit card plan
           All accounts                   n.a.    n.a.   15.82    n.a.    n.a.   15.44    n.a.    n.a.   15.65    n.a.    n.a.   15.62    n.a.
           Accounts assessed interest     n.a.    n.a.   15.41    n.a.    n.a.   15.41    n.a.    n.a.   15.64    n.a.    n.a.   15.52    n.a.
 
  New car loans at auto finance companies
       Interest rates                    10.52    9.74    9.86    9.77    9.64    9.37    9.53    9.81   10.49   10.52   10.40   10.31    9.25
       Maturity (months)                  53.6    51.8    52.3    51.8    51.5    50.8    50.4    50.5    51.4    51.9    52.5    52.3    52.3
       Loan-to-value ratio                  92      92      91      91      91      91      91      91      92      91      89      90      90
       Amount financed (dollars)        17,034  16,698  16,627  16,520  16,605  16,686  16,854  16,926  16,927  17,182  17,435  17,719  17,670
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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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                                       1995                                                1996
                                      _______ _______________________________________________________________________________________________
 
                                         Dec.  Jan. r  Feb. r  Mar. r  Apr. r   May r  June r  July r  Aug. r Sept. r  Oct. r  Nov. r  Dec. p
                                      ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
    -----------------------------------------------------------------------------------------------------------------------------------------
 
    Total                             1,131.9 1,121.3 1,119.2 1,123.0 1,131.1 1,138.5 1,147.9 1,159.4 1,174.3 1,182.6 1,187.2 1,198.4 1,227.1
 
    Major holders
    Commercial banks                    507.8   499.4   497.2   497.7   503.9   502.3   505.7   510.2   516.7   517.1   519.0   519.6   528.2
    Finance companies                   152.6   152.6   154.4   151.7   153.3   155.9   153.8   154.8   153.4   154.8   153.4   153.2   154.5
    Credit unions                       131.9   131.5   131.2   131.5   132.8   134.6   136.1   138.2   140.6   142.0   144.4   145.1   146.4
    Savings institutions                 40.1    40.2    40.4    40.7    41.1    41.6    41.1    43.0    44.0    44.9    45.9    46.8    47.8
    Nonfinancial business                85.1    80.7    78.1    76.7    73.7    74.6    72.0    69.9    71.0    68.5    67.9    69.7    79.6
    Pools of securitized assets 5       214.4   216.8   217.9   224.6   226.2   229.5   239.3   243.1   248.6   255.3   256.5   264.1   270.6
 
    Major types of credit 6
    Automobile                          354.1   352.5   353.5   354.9   356.7   359.6   366.2   372.4   375.0   377.9   381.1   380.8   380.9
       Commercial banks                 149.1   148.2   147.7   148.5   150.1   150.5   152.9   153.9   154.5   153.1   154.6   154.3   152.9
       Finance companies                 70.6    71.4    73.3    72.1    73.8    74.3    74.3    75.7    74.4    76.3    75.9    75.3    73.5
       Pools of securitized assets 5     44.4    42.6    41.8    43.0    40.7    41.2    45.3    46.4    47.5    48.1    48.0    48.2    51.1
 
    Revolving                           435.7   426.0   424.6   426.0   431.1   437.6   440.6   444.7   451.3   453.7   455.9   464.1   487.0
       Commercial banks                 210.3   200.1   198.9   196.8   201.1   203.4   204.0   207.3   209.8   211.2   213.2   214.2   223.0
       Nonfinancial business             53.5    50.5    48.6    47.4    44.5    45.2    42.6    40.5    41.3    38.8    38.1    39.3    46.9
       Pools of securitized assets 5    147.9   151.6   153.4   157.9   161.4   164.5   169.2   171.6   174.6   178.0   178.6   184.0   189.1
 
    Other                               342.2   342.9   341.1   342.1   343.2   341.3   341.1   342.4   348.0   351.1   350.3   353.5   359.2
       Commercial banks                 148.4   151.2   150.6   152.4   152.7   148.4   148.7   149.1   152.5   152.8   151.3   151.0   152.3
       Finance companies                 82.0    81.2    81.1    79.6    79.5    81.6    79.5    79.1    78.9    78.5    77.5    77.9    81.0
       Nonfinancial business             31.5    30.2    29.5    29.3    29.2    29.5    29.4    29.4    29.7    29.7    29.8    30.4    32.7
       Pools of securitized assets 5     22.1    22.6    22.7    23.7    24.1    23.8    24.8    25.1    26.5    29.2    29.9    31.8    30.3
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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.