Consumer credit data have been revised to incorporate the updated seasonal adjustment factors and a change in the estimation
procedure for commercial banks that brings data for such institutions into alignment with Call Reports.  In addition, some loans for
light trucks had been included in the "other" consumer credit category and these have been reclassified as automobile loans.
      A diskette containing complete historical data for all series shown in this release is available from the Federal Reserve
Board's Publication Section, Mail Stop 127, Board of Governors of the Federal Reserve System, Washington, DC, 20551, (202) 452 - 3245.
 
 
G.19                                                        CONSUMER CREDIT                        For release at 3 p.m. (Eastern Time)  
1                                                            October 1997                                              December 5, 1997
 
 
Consumer credit outstanding grew at a 10-1/2 percent seasonally adjusted annual rate in October, following a downward-revised 1/2
percent increase in September.  The pickup in October owed to an acceleration in automobile and revolving credit and a partial reversal
of the September decline in other credits.  Data included in this release have been revised to reflect technical changes in estimation
procedures as well as more complete information and new seasonal factors.
 
 
CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
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                                         1996                                                1997
                                _______________________ _______________________________________________________________________________
 
                                Oct. r  Nov. r  Dec. r  Jan. r  Feb. r  Mar. r  Apr. r   May r  June r  July r  Aug. r  Sept. r Oct. p
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Percent change at annual rate 2
  Total                             6.7     2.2     0.4    10.0     5.7     1.9     9.0     3.3     2.2     3.8     6.1     0.6    10.5
   Automobile                       4.5    -2.9     6.0     3.3     1.2    -3.6    11.9     2.7     7.1     8.3    -2.2     5.6    12.5
   Revolving                       13.1    10.7    10.3    14.7     9.4     0.5     6.9     4.6     4.2     9.3     7.9     5.8     8.1
   Other 3                         -0.8    -5.2   -23.6    11.1     5.3    11.9     8.6     1.9    -7.9   -11.9    14.0   -15.2    12.0
 
Amount: billions of dollars
  Total                         1,177.3 1,179.5 1,179.9 1,189.7 1,195.4 1,197.3 1,206.2 1,209.5 1,211.7 1,215.6 1,221.7 1,222.4 1,233.1
   Automobile                     391.4   390.4   392.4   393.4   393.8   392.6   396.5   397.5   399.8   402.6   401.9   403.7   407.9
   Revolving                      490.6   495.0   499.2   505.3   509.3   509.5   512.4   514.3   516.2   520.2   523.6   526.2   529.7
   Other 3                        295.4   294.1   288.3   291.0   292.3   295.2   297.3   297.7   295.8   292.8   296.3   292.5   295.5
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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.    9.03    n.a.    n.a.    8.92    n.a.    n.a.    9.20    n.a.    n.a.    8.99    n.a.    n.a.
   24-mo. personal                 n.a.   13.62    n.a.    n.a.   13.46    n.a.    n.a.   13.81    n.a.    n.a.   13.84    n.a.    n.a.
   Credit card plan
    All accounts                   n.a.   15.62    n.a.    n.a.   15.88    n.a.    n.a.   15.75    n.a.    n.a.   15.78    n.a.    n.a.
    Accounts assessed interest     n.a.   15.52    n.a.    n.a.   15.13    n.a.    n.a.   15.72    n.a.    n.a.   15.79    n.a.    n.a.
 
New car loans at auto finance companies
  Interest rates                  10.40   10.31    8.60    7.17    7.44    8.08    8.56    7.80    7.64    6.71    5.93    6.12    7.27
  Maturity (months)                52.5    52.3    52.3    55.1    54.6    53.5    52.8    53.2    53.3    54.6    55.5    55.4    54.4
  Loan-to-value ratio                89      90      90      92      92      90      91      93      93      94      93      93      92
  Amount financed (dollars)      17,435  17,719  17,670  17,090  16,837  17,198  17,620  18,060  18,171  18,281  18,329  18,520  18,779
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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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                                         1996                                                1997
                                _______________________ _______________________________________________________________________________
 
                                Oct. r  Nov. r  Dec. r  Jan. r  Feb. r  Mar. r  Apr. r   May r  June r  July r  Aug. r  Sept. r Oct. p
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Total                           1,176.8 1,186.6 1,211.6 1,199.6 1,190.5 1,186.4 1,195.6 1,199.3 1,205.0 1,208.7 1,220.1 1,225.2 1,232.6
 
Major holders
Commercial banks                  517.9   520.0   526.8   521.4   512.9   504.3   510.3   511.6   510.7   514.5   516.2   507.5   507.2
Finance companies                 151.4   151.0   152.4   153.5   153.3   153.8   152.7   154.9   156.7   156.4   157.2   158.4   156.6
Credit unions                     143.0   143.3   144.1   144.2   143.4   143.9   145.6   146.7   147.6   149.0   149.8   150.7   151.4
Savings institutions               44.9    44.8    44.7    45.1    45.5    45.9    46.1    46.3    46.5    46.7    47.4    47.1    47.3
Nonfinancial business              68.0    69.8    77.7    73.6    70.6    70.0    69.3    67.7    68.0    67.6    68.6    68.5    68.4
Pools of securitized assets 5     251.7   257.8   265.8   261.8   264.8   268.5   271.6   272.1   275.6   274.6   281.0   293.0   301.6
 
Major types of credit 6
Automobile                        395.7   394.5   395.6   391.8   389.8   388.9   391.9   393.8   399.6   403.0   404.4   407.3   412.4
 Commercial banks                 157.8   157.8   157.0   156.1   155.0   153.7   154.2   155.2   156.0   157.8   158.5   157.2   158.3
 Finance companies                 88.0    87.6    86.7    86.8    87.1    85.8    83.2    85.1    87.0    88.3    88.4    88.5    86.8
 Pools of securitized assets 5     49.2    48.7    51.7    48.8    47.5    48.7    52.8    50.8    53.0    52.7    52.4    55.4    60.1
 
Revolving                         487.5   497.8   522.9   513.5   508.6   503.8   505.8   509.6   511.4   515.0   520.7   524.1   526.4
 Commercial banks                 215.0   217.9   228.6   223.2   215.8   207.3   209.3   212.8   213.3   219.0   217.5   209.3   208.9
 Finance companies                 29.6    29.9    32.5    32.3    32.2    34.1    35.1    35.2    34.9    33.5    33.5    34.9    34.5
 Nonfinancial business             38.1    39.3    44.9    41.9    39.8    39.4    39.0    37.1    37.3    36.8    37.6    37.7    37.5
 Pools of securitized assets 5    178.6   184.0   188.7   187.9   192.3   194.5   193.8   195.8   196.8   196.5   202.4   212.4   215.7
 
Other                             293.6   294.3   293.1   294.3   292.0   293.7   297.8   295.9   294.0   290.6   295.0   293.9   293.7
 Commercial banks                 145.1   144.2   141.1   142.1   142.2   143.3   146.8   143.6   141.4   137.7   140.2   141.0   140.0
 Finance companies                 33.8    33.6    33.2    34.4    34.0    34.0    34.3    34.7    34.8    34.7    35.2    35.0    35.4
 Nonfinancial business             29.8    30.5    32.8    31.7    30.8    30.5    30.4    30.7    30.7    30.8    31.0    30.8    30.9
 Pools of securitized assets 5     23.9    25.1    25.4    25.1    24.9    25.3    24.9    25.5    25.8    25.4    26.1    25.1    25.8
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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.