G.19                                                        CONSUMER CREDIT                        For release at 3 p.m. (Eastern Time)
1                                                            October 2001                                              December 7, 2001

Consumer credit grew at an annual rate of 5-1/4 percent in October, up from a 1-1/2 percent pace in September.  In October, revolving credit
contracted and nonrevolving credit expanded.

CONSUMER CREDIT OUTSTANDING 1,2
Seasonally adjusted
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                                                                             2000                            2001
                                                                        _______________ _______________________________________________

                                1996 r  1997 r  1998 r  1999 r  2000 r   Q3 r    Q4 r    Q1 r    Q2 r    Q3 r    Aug r   Sep r   Oct p
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Percent change at annual rate 3,4
  Total                            8.1     4.8     5.9     7.4    10.2     8.5    10.9    10.3     4.6     1.3     3.2     1.5     5.2
   Revolving                      12.6     6.2     5.8     6.1    11.6     9.5     9.6    15.6     6.2    -4.0    -2.2    -1.3    -6.4
   Nonrevolving 5                  5.1     3.8     6.1     8.4     9.2     7.7    11.8     6.3     3.4     5.3     7.3     3.5    13.9

Amount: billions of dollars
  Total                         1185.1  1242.0  1315.8  1413.6  1557.9  1516.7  1557.9  1597.9  1616.3  1621.6  1619.6  1621.6  1628.6
   Revolving                     498.9   529.6   560.2   594.3   663.2   647.7   663.2   689.0   699.7   692.7   693.5   692.7   689.0
   Nonrevolving 5                686.1   712.4   755.6   819.2   894.8   869.0   894.8   908.9   916.6   928.9   926.1   928.9   939.6
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TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES 6
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                 9.05    9.02    8.72    8.44    9.34    9.62    9.63    9.17    8.67    8.31    8.31     n.a.    n.a.
   24-mo. personal               13.54   13.90   13.74   13.39   13.90   13.85   14.12   13.71   13.28   13.25   13.25     n.a.    n.a.
        Credit card plan
    All accounts                 15.63   15.77   15.71   15.21   15.71   15.98   15.99   15.66   15.07   14.60   14.60     n.a.    n.a.
    Accounts assessed interest   15.50   15.57   15.59   14.81   14.91   15.35   15.23   14.61   14.63   14.64   14.64     n.a.    n.a.

New car loans at auto finance companies
  Interest Rates                  9.84    7.12    6.30    6.66    6.61    7.06    5.87    7.09    6.50    6.01    6.41    5.42    2.71
  Maturity (months)               51.6    54.1    52.1    52.7    54.9    55.7    56.7    55.1    56.8    57.4    57.7    57.2    53.7
  Loan-to-Value Ratio               91      92      92      92      92      91      92      90      91      92      91      92      94
  Amount financed (dollars)     16,987  18,077  19,083  19,880  20,923  20,694  22,126  21,813  21,969  22,775  22,591  23,049  24,443

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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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                                                                               2000                            2001
                                                                          _______________ _______________________________________________

                                  1996 r  1997 r  1998 r  1999 r  2000 r   Q3 r    Q4 r    Q1 r    Q2 r    Q3 r    Aug r   Sep r   Oct p
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Total                             1214.1  1271.6  1346.6  1446.1  1593.1  1519.6  1593.1  1585.3  1608.1  1622.8  1622.0  1622.8  1631.7

Major holders
Total                             1214.1  1271.6  1346.6  1446.1  1593.1  1519.6  1593.1  1585.3  1608.1  1622.8  1622.0  1622.8  1631.7
Commercial banks                   526.8   512.6   508.9   499.8   541.5   521.8   541.5   533.7   540.2   535.3   537.7   535.3   539.8
Finance companies                  154.9   167.5   183.3   201.5   219.8   221.5   219.8   212.8   214.3   220.8   224.3   220.8   219.0
Credit unions                      144.1   152.4   155.4   167.9   184.4   181.3   184.4   182.8   186.4   185.7   186.3   185.7   186.1
Savings institutions                44.7    47.2    51.6    61.5    64.6    62.5    64.6    65.5    65.3    69.1    67.8    69.1    68.3
Nonfinancial business               77.7    78.9    74.9    80.3    82.7    72.1    82.7    71.4    68.0    60.2    63.3    60.2    58.7
Pools of securitized assets 7      265.8   313.1   372.4   435.1   500.1   460.3   500.1   519.2   533.9   551.7   542.5   551.7   559.9

Major types of credit 8
Revolving                          522.3   554.2   586.2   621.9   693.0   644.2   693.0   682.0   693.7   688.5   689.9   688.5   685.6
   Commercial banks                228.6   219.8   210.3   189.4   218.1   202.4   218.1   209.5   213.0   203.1   206.3   203.1   208.6
   Finance companies                32.0    37.0    31.9    32.5    37.6    33.6    37.6    34.9    36.8    35.9    37.1    35.9    28.0
   Credit unions                    17.8    19.6    19.9    20.6    22.2    21.0    22.2    20.9    21.3    21.9    22.2    21.9    21.5
   Savings institutions             10.3    11.4    12.5    15.8    16.6    16.3    16.6    17.0    16.4    16.9    16.7    16.9    16.9
   Nonfinancial business            44.9    45.0    39.2    42.8    42.4    35.8    42.4    33.9    31.4    25.2    27.6    25.2    23.7
   Pools of securitized assets 7   188.7   221.5   272.3   320.8   356.1   335.1   356.1   365.8   374.8   385.5   380.0   385.5   387.0

Nonrevolving                       691.8   717.4   760.4   824.2   900.1   875.4   900.1   903.3   914.4   934.3   932.1   934.3   946.1
   Commercial banks                298.2   292.7   298.6   310.4   323.4   319.4   323.4   324.2   327.2   332.1   331.4   332.1   331.2
   Finance companies               122.9   130.5   151.4   169.1   182.2   188.0   182.2   177.8   177.4   184.9   187.2   184.9   191.0
   Credit unions                   126.3   132.8   135.5   147.3   162.2   160.3   162.2   161.9   165.1   163.9   164.1   163.9   164.6
   Savings institutions             34.4    35.7    39.2    45.7    48.0    46.2    48.0    48.5    49.0    52.1    51.1    52.1    51.4
   Nonfinancial business            32.8    34.0    35.7    37.5    40.2    36.3    40.2    37.5    36.6    35.0    35.7    35.0    35.0
   Pools of securitized assets 7    77.1    91.6   100.1   114.2   144.0   125.2   144.0   153.4   159.1   166.2   162.6   166.2   172.9

1. Data for finance companies have been revised from July 1996 forward as a result of benchmarking to the 2000 quinquennial finance company surve
information as of June 30, 2000. For more information visit www.federalreserve.gov/releases/G19/
2. Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate.
3. 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.
4. Percent changes calculated from unrounded data.
5. 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.
6. 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.
7. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of
the loan originators.
8. Includes estimates for holders that do not separately report consumer credit holding by type.
r=revised.  p=preliminary.