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


Release Date: August 7, 2001

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G.19 CONSUMER CREDIT For release at 3 p.m. (Eastern Time)
1 June 2001 August 14, 2001
 

Consumer credit declined slightly in June as revolving credit decelerated further and nonrevolving credit contracted. In the second
quarter, consumer credit grew at an annual rate of 4-1/2 percent, down from a 10-1/2 percent increase in the first quarter. Both
revolving and nonrevolving credit growth have slowed since the first quarter.
 

 

CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
            2000 2001
  1996 1997 1998 1999 2000 Q2 Q3 Q4 Q1 r Q2 p Apr r May r Jun p
Percent change at annual rate 2,3 
  Total                           7.9     4.4     5.4     7.1     9.3     9.4     8.1     8.3    10.5     4.6     9.8     5.2    -1.2 
   Revolving                     12.7     6.4     5.5     6.3    11.0    12.5     9.4     7.0    15.4     8.1    14.2     6.0     3.9 
   Nonrevolving 4                 4.7     3.0     5.3     7.8     8.1     7.1     7.2     9.2     6.7     1.9     6.3     4.6    -5.2 
              
Amount: billions of dollars       
  Total                        1182.6  1234.5  1301.0  1393.7  1531.5  1462.8  1492.6  1531.5  1571.6  1589.7  1584.4  1591.2  1589.7 
   Revolving                    499.4   531.2   560.5   595.6   663.8   634.7   649.5   663.8   689.5   703.4   697.6   701.1   703.4 
   Nonrevolving 4               683.1   703.3   740.5   798.0   867.6   828.2   843.1   867.6   882.1   886.3   886.7   890.1   886.3 
              
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                9.05    9.02    8.72    8.44    9.34    9.21    9.62    9.63    9.17    8.67     n.a.   8.67     n.a.
   24-mo. personal             
        Credit card plan       
 13.54   13.90   13.74   13.39   13.90   13.88   13.85   14.12   13.71   13.28     n.a.  13.28     n.a.
    All accounts                15.63   15.77   15.71   15.21   15.71   15.39   15.98   15.99   15.66   15.07     n.a.  15.07     n.a.
    Accounts assessed interest  15.50   15.57   15.59   14.81   14.91   14.74   15.35   15.23   14.61   14.63     n.a.  14.63     n.a.
              
New car loans at auto finance companies                                                                                 
  Interest Rates                 9.84    7.12    6.30    6.66    6.61    6.43    7.06    5.87    7.09    6.50    6.80    6.56    6.15 
  Maturity (months)              51.6    54.1    52.1    52.7    54.9    54.3    55.7    56.7    55.1    56.8    56.3    57.0    57.2 
  Loan-to-Value Ratio              91      92      92      92      92      93      91      92      90      91      91      92      91 
  Amount financed (dollars)    16,987  18,077  19,083  19,880  20,923  20,504  20,694  22,126  21,813  21,969  21,914  21,871  22,124 
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
            2000 2001
  1996 1997 1998 1999 2000 Q2 Q3 Q4 Q1 r Q2 p Apr r May r Jun p
Total                             1211.6  1264.1  1331.7  1426.2  1566.5  1454.0  1495.3  1566.5  1559.2  1581.5  1570.2  1576.5  1581.5 
                                              
Major holders                                 
Total                             1211.6  1264.1  1331.7  1426.2  1566.5  1454.0  1495.3  1566.5  1559.2  1581.5  1570.2  1576.5  1581.5 
Commercial banks                   526.8   512.6   508.9   499.8   541.5   506.2   521.8   541.5   534.5   540.6   540.7   543.2   540.6 
Finance companies                  152.4   160.0   168.5   181.6   193.2   190.3   197.3   193.2   185.9   190.9   191.0   191.5   190.9 
Credit unions                      144.1   152.4   155.4   167.9   184.4   176.0   181.3   184.4   182.9   186.8   184.3   186.0   186.8 
Savings institutions                44.7    47.2    51.6    61.5    64.6    61.0    62.5    64.6    64.9    65.1    65.0    65.0    65.1 
Nonfinancial business               77.7    78.9    74.9    80.3    82.7    73.5    72.1    82.7    71.8    68.1    71.5    70.0    68.1 
Pools of securitized assets 6      265.8   313.1   372.4   435.1   500.1   447.0   460.3   500.1   519.2   530.0   517.8   520.8   530.0 
              
Major types of credit 7                       
Revolving                          522.9   555.9   586.5   623.2   693.6   627.9   646.0   693.6   682.4   697.3   690.4   693.7   697.3 
   Commercial banks                228.6   219.8   210.3   189.4   218.1   194.8   202.4   218.1   208.9   215.1   215.2   217.4   215.1 
   Finance companies                32.5    38.6    32.3    33.8    38.3    33.1    35.4    38.3    35.6    37.3    36.0    37.5    37.3 
   Credit unions                    17.8    19.6    19.9    20.6    22.2    20.2    21.0    22.2    20.9    21.3    21.1    21.2    21.3 
   Savings institutions             10.3    11.4    12.5    15.8    16.6    15.5    16.3    16.6    17.0    17.0    17.0    17.0    17.0 
   Nonfinancial business            44.9    45.0    39.2    42.8    42.4    37.1    35.8    42.4    34.2    31.4    33.8    32.7    31.4 
   Pools of securitized assets 6   188.7   221.5   272.3   320.8   356.1   327.3   335.1   356.1   365.8   375.3   367.3   367.8   375.3 
              
Nonrevolving                       688.7   708.2   745.2   802.9   872.8   826.1   849.3   872.8   876.8   884.2   879.8   882.9   884.2 
   Commercial banks                298.2   292.7   298.6   310.4   323.4   311.5   319.4   323.4   325.6   325.5   325.5   325.7   325.5 
   Finance companies               119.9   121.4   136.2   147.8   154.9   157.2   161.9   154.9   150.2   153.6   155.0   154.0   153.6 
   Credit unions                   126.3   132.8   135.5   147.3   162.2   155.9   160.3   162.2   162.0   165.5   163.2   164.7   165.5 
   Savings institutions             34.4    35.7    39.2    45.7    48.0    45.5    46.2    48.0    47.9    48.1    48.0    48.0    48.1 
   Nonfinancial business            32.8    34.0    35.7    37.5    40.2    36.4    36.3    40.2    37.6    36.7    37.7    37.3    36.7 
   Pools of securitized assets 6    77.1    91.6   100.1   114.2   144.0   119.7   125.2   144.0   153.4   154.8   150.5   153.0   154.8 
1. Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate.
2. The series for consumer credit outstanding and its components may contain breaks that result from discontinuities in source data.
Growth rates are adjusted to exclude the effect of such breaks.
3. Percent changes calculated from unrounded data.
4. Comprises automobile loans and all other loans not included in revolving credit, such as loans for mobile homes, trailers, or
vacations. These loans may be secured or unsecured.
5. 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.
6. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of
the loan originators.
7. Includes estimates for holders that do not separately report consumer credit holding by type. r=revised. p=preliminary.


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Last update: August 7, 2001