G.19                                                        CONSUMER CREDIT                        For release at 3 p.m. (Eastern Time)
1                                                             April 1998                                                   June 5, 1998
 
 
Consumer credit outstanding grew at a 5-1/4 percent seasonally adjusted annual rate in April, after a 2 percent rate of increase in
March.  In April, growth in revolving and "other" credit picked up, while growth in automobile credit slowed.
 
 
CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
---------------------------------------------------------------------------------------------------------------------------------------
                                                                 1997                                                1998
                                _______________________________________________________________________ _______________________________
 
                                 Apr.     May    June    July    Aug.    Sept.   Oct.    Nov.   Dec. r  Jan. r  Feb. r  Mar. r  Apr. p
---------------------------------------------------------------------------------------------------------------------------------------
Percent change at annual rate 2
  Total                             9.0     3.3     2.2     4.7     5.8     1.4     9.0    -5.9     3.7     4.8     7.0     1.9     5.3
   Automobile                      11.9     2.7     7.1    11.1    -1.3     6.3    11.4    -6.2    19.4     5.9     3.7     8.5     3.3
   Revolving                        6.9     4.6     4.2     9.4     8.0     6.2    10.0    -2.1     2.3     4.7     8.4     1.0     5.2
   Other 3                          8.6     1.9    -7.9   -12.1    11.6   -13.6     4.1   -12.4   -15.8     3.7     9.4    -5.9     8.1
 
Amount: billions of dollars
  Total                         1,206.2 1,209.5 1,211.7 1,216.5 1,222.4 1,223.8 1,233.0 1,226.9 1,230.7 1,235.7 1,242.9 1,244.9 1,250.4
   Automobile                     396.5   397.5   399.8   403.5   403.1   405.2   409.0   406.9   413.5   415.5   416.8   419.7   420.9
   Revolving                      512.4   514.3   516.2   520.2   523.7   526.4   530.7   529.8   530.8   532.9   536.6   537.1   539.4
   Other 3                        297.3   297.7   295.8   292.8   295.6   292.3   293.3   290.3   286.4   287.3   289.6   288.1   290.1
---------------------------------------------------------------------------------------------------------------------------------------
 
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.    9.20    n.a.    n.a.    8.99    n.a.    n.a.    8.96    n.a.    n.a.    8.87    n.a.    n.a.
   24-mo. personal                 n.a.   13.81    n.a.    n.a.   13.84    n.a.    n.a.   14.50    n.a.    n.a.   14.01    n.a.    n.a.
   Credit card plan
    All accounts                   n.a.   15.75    n.a.    n.a.   15.78    n.a.    n.a.   15.65    n.a.    n.a.   15.65    n.a.    n.a.
    Accounts assessed interest     n.a.   15.72    n.a.    n.a.   15.81    n.a.    n.a.   15.62    n.a.    n.a.   15.33    n.a.    n.a.
 
New car loans at auto finance companies
  Interest rates                   8.56    7.80    7.64    6.71    5.93    6.12    7.27    6.85    5.93    6.12    6.98    5.94    6.20
  Maturity (months)                52.8    53.2    53.3    54.6    55.5    55.4    54.4    53.7    53.5    52.8    52.6    51.5    50.7
  Loan-to-value ratio                91      93      93      94      93      93      92      91      92      92      92      92      91
  Amount financed (dollars)      17,620  18,060  18,171  18,281  18,329  18,520  18,779  18,923  19,121  18,944  18,825  18,932  18,922
---------------------------------------------------------------------------------------------------------------------------------------
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
 
---------------------------------------------------------------------------------------------------------------------------------------
                                                                 1997                                                1998
                                _______________________________________________________________________ _______________________________
 
                                 Apr.     May    June    July    Aug.    Sept.   Oct.    Nov.   Dec. r  Jan. r  Feb. r  Mar. r  Apr. p
---------------------------------------------------------------------------------------------------------------------------------------
 
Total                           1,195.6 1,199.3 1,205.0 1,209.6 1,220.7 1,226.7 1,232.5 1,234.5 1,264.1 1,245.7 1,237.7 1,233.5 1,239.1
 
Major holders
Commercial banks                  510.3   511.6   510.7   514.5   516.2   507.5   506.3   506.5   512.6   502.0   497.8   492.2   502.4
Finance companies                 152.7   154.9   156.7   156.4   157.2   158.4   156.9   156.4   160.0   159.5   155.7   156.1   153.9
Credit unions                     145.6   146.7   147.6   148.8   149.3   150.0   150.6   150.6   152.4   151.0   149.8   149.3   149.1
Savings institutions               46.1    46.3    46.5    47.2    47.8    48.5    48.0    47.6    47.2    46.7    46.3    45.9    45.4
Nonfinancial business              69.3    67.7    68.0    67.6    68.6    68.7    68.5    70.5    78.9    75.4    72.8    72.7    65.0
Pools of securitized assets 5     271.6   272.1   275.6   275.2   281.6   293.5   302.2   302.9   313.1   311.1   315.3   317.2   323.3
 
Major types of credit 6
Automobile                        391.9   393.8   399.6   404.0   405.7   408.8   413.5   411.1   417.0   413.7   412.5   415.7   415.9
 Commercial banks                 154.2   155.2   156.0   157.8   158.5   157.2   157.9   156.2   155.3   154.4   152.7   153.6   150.7
 Finance companies                 83.2    85.1    87.0    88.3    88.4    88.5    86.8    86.0    87.0    87.4    84.7    86.8    90.6
 Pools of securitized assets 5     52.8    50.8    53.0    53.3    53.0    56.0    60.6    60.4    65.0    63.1    66.0    65.1    63.6
 
Revolving                         505.8   509.6   511.4   515.1   520.8   524.3   527.5   532.9   555.9   541.4   535.9   531.1   532.4
 Commercial banks                 209.3   212.8   213.3   219.0   217.5   209.3   209.5   212.7   219.8   208.8   204.6   197.3   205.3
 Finance companies                 35.1    35.2    34.9    33.5    33.5    34.9    34.7    34.8    38.6    37.6    36.9    36.3    29.9
 Nonfinancial business             39.0    37.1    37.3    36.8    37.6    37.7    37.5    38.9    45.0    42.7    41.0    41.2    33.5
 Pools of securitized assets 5    193.8   195.8   196.8   196.5   202.4   212.4   215.7   216.4   221.5   221.8   223.4   226.6   234.0
 
Other                             297.8   295.9   294.0   290.6   294.3   293.6   291.5   290.5   291.3   290.6   289.3   286.7   290.7
 Commercial banks                 146.8   143.6   141.4   137.7   140.2   141.0   138.9   137.5   137.5   138.8   140.5   141.3   146.4
 Finance companies                 34.3    34.7    34.8    34.7    35.2    35.0    35.3    35.5    34.4    34.5    34.1    33.0    33.4
 Nonfinancial business             30.4    30.7    30.7    30.8    31.1    31.0    31.1    31.6    34.0    32.7    31.8    31.4    31.5
 Pools of securitized assets 5     24.9    25.5    25.8    25.4    26.1    25.1    25.8    26.1    26.6    26.3    26.0    25.6    25.7
---------------------------------------------------------------------------------------------------------------------------------------
 
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.