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Release Date: July 8, 2008
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G.19 CONSUMER CREDIT For release at 3 p.m. (Eastern Time)
1 May 2008 July 8, 2008
Consumer credit increased at an annual rate of 3-1/2 percent in May. Revolving credit rose at an annual rate of 7 percent, and
nonrevolving credit rose at an annual rate of 1-1/2 percent.
CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
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2007 2008
_______________________________ _______________________________
2003 2004 2005 2006 2007 Q1 Q2 Q3 Q4 Q1 r Mar r Apr r May p
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Percent change at annual rate 2
Total 5.3 5.5 4.3 4.5 5.7 4.7 5.6 8.2 3.9 5.0 5.9 3.6 3.6
Revolving 2.9 3.8 3.1 6.1 7.4 5.4 6.8 8.6 8.2 6.8 7.4 -0.5 7.1
Nonrevolving 3 6.7 6.4 4.9 3.6 4.7 4.4 4.9 7.9 1.3 3.9 5.1 6.1 1.6
Amount: billions of dollars
Total 2078.0 2191.3 2284.9 2387.5 2523.6 2415.7 2449.6 2499.6 2523.6 2555.0 2555.0 2562.8 2570.6
Revolving 770.5 800.0 825.0 875.4 940.6 887.2 902.2 921.6 940.6 956.6 956.6 956.2 961.8
Nonrevolving 3 1307.5 1391.3 1459.9 1512.1 1583.0 1528.5 1547.4 1577.9 1583.0 1598.5 1598.5 1606.6 1608.7
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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 6.93 6.60 7.08 7.72 7.77 7.74 7.92 7.82 7.59 7.27 n.a. n.a. 6.81
24-mo. personal 11.95 11.89 12.05 12.41 12.39 12.32 12.57 12.51 12.16 11.43 n.a. n.a. 11.09
Credit card plan
All accounts 12.30 12.72 12.51 13.21 13.38 13.41 13.46 13.58 13.08 12.48 n.a. n.a. 11.87
Accounts assessed interest 12.73 13.22 14.55 14.73 14.67 14.64 14.47 15.24 14.34 13.72 n.a. n.a. 13.48
New car loans at auto finance companies
Interest rates 3.81 4.92 6.02 4.99 4.87 4.99 5.08 4.85 4.55 4.85 4.19 4.54 5.71
Maturity (months) 61.3 60.7 60.0 63.0 62.0 61.3 61.7 62.1 62.9 62.6 62.3 63.1 64.0
Loan-to-value ratio 95 89 88 94 95 94 96 95 95 94 94 94 93
Amount financed (dollars) 26,295 24,888 24,133 26,620 28,287 27,586 27,702 28,349 29,512 28,174 28,173 27,397 24,911
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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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2007 2008
_______________________________ _______________________________
2003 2004 2005 2006 2007 Q1 Q2 Q3 Q4 Q1 r Mar r Apr r May p
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Total 2104.4 2219.4 2313.9 2418.3 2556.6 2399.5 2433.3 2506.1 2556.6 2537.7 2537.7 2548.6 2555.4
Major holders
Total 2104.4 2219.4 2313.9 2418.3 2556.6 2399.5 2433.3 2506.1 2556.6 2537.7 2537.7 2548.6 2555.4
Commercial banks 669.4 704.3 707.0 741.2 804.1 723.3 737.9 771.5 804.1 796.3 796.3 808.0 809.0
Finance companies 393.0 492.3 516.5 534.4 583.9 532.4 543.4 568.7 583.9 582.5 582.5 583.9 583.6
Credit unions 205.9 215.4 228.6 234.5 235.7 232.3 233.0 237.9 235.7 230.5 230.5 231.7 232.7
Federal government and Sallie Mae 102.9 86.1 89.8 91.7 98.4 95.1 94.6 98.0 98.4 103.5 103.5 103.8 104.0
Savings institutions 77.9 91.3 109.1 95.5 90.8 94.6 97.2 87.0 90.8 87.5 87.5 88.1 88.7
Nonfinancial business 58.5 58.6 58.8 56.8 55.2 53.0 53.5 53.8 55.2 51.2 51.2 51.1 51.3
Pools of securitized assets 5 596.8 571.5 604.0 664.2 688.6 668.9 673.8 689.1 688.6 686.1 686.1 681.9 686.2
Major types of credit
Revolving 791.9 823.7 850.0 902.3 969.5 875.0 896.7 920.9 969.5 943.5 943.5 948.5 954.1
Commercial banks 285.0 314.6 311.2 327.3 353.4 299.2 311.0 322.4 353.4 322.5 322.5 327.7 327.2
Finance companies 45.3 50.4 66.3 79.9 86.0 72.9 75.1 78.3 86.0 82.1 82.1 82.1 82.3
Credit unions 22.4 23.2 24.7 27.4 31.1 26.6 27.7 29.0 31.1 30.5 30.5 30.7 31.1
Federal government and Sallie Mae n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
Savings institutions 23.8 27.9 40.8 42.5 44.8 41.6 42.5 39.6 44.8 42.8 42.8 43.5 44.3
Nonfinancial business 14.5 12.4 11.6 7.8 4.2 7.1 7.2 7.3 4.2 3.7 3.7 3.7 3.7
Pools of securitized assets 5 400.9 395.2 395.4 417.5 450.0 427.6 433.2 444.2 450.0 462.1 462.1 460.7 465.5
Nonrevolving 1312.5 1395.7 1463.9 1515.9 1587.1 1524.5 1536.6 1585.2 1587.1 1594.3 1594.3 1600.1 1601.3
Commercial banks 384.4 389.6 395.8 413.9 450.7 424.1 426.9 449.1 450.7 473.8 473.8 480.3 481.8
Finance companies 347.8 442.0 450.2 454.5 497.8 459.4 468.3 490.4 497.8 500.4 500.4 501.8 501.3
Credit unions 183.5 192.1 203.9 207.1 204.6 205.7 205.2 209.0 204.6 200.1 200.1 201.0 201.5
Federal government and Sallie Mae 102.9 86.1 89.8 91.7 98.4 95.1 94.6 98.0 98.4 103.5 103.5 103.8 104.0
Savings institutions 54.0 63.4 68.3 53.1 46.0 53.0 54.7 47.4 46.0 44.8 44.8 44.6 44.4
Nonfinancial business 44.0 46.2 47.2 49.0 50.9 45.9 46.3 46.5 50.9 47.6 47.6 47.4 47.6
Pools of securitized assets 5 195.9 176.3 208.6 246.7 238.6 241.3 240.6 244.9 238.6 224.0 224.0 221.2 220.6
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.
Percent changes are adjusted to exclude the effect of such breaks. In addition percent changes are at a simple annual rate and are
calculated from unrounded data.
3. Includes automobile loans and all other loans not included in revolving credit, such as loans for mobile homes, 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.
r=revised. p=preliminary.Release dates | Historical data |
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