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


Release Date: October 07, 1997

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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
  1996 1997
  Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June r July r Aug. p
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 
              
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                   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              
   Credit card plan             
  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 
    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 
Footnotes appear on reverse.
 

 

 

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

  1996 1997
  Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June r July r Aug. p
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 
 

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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