United States yearbook - 1982 (1)

Consumer Credit—Finance Rates 513
N O . 8 4 4 . C O N S U M E R C R E D IT : 1 9 6 0 T O 1 9 8 2
[In billions of dollars, except percent. Estimated amounts of credit outstanding as of end of year or month; extended and
repaid, for entire year or month. See also H is to ric a l S ta tis tic s , C o lo n ia l T im e s to 1 9 7 0 , series X 551-560]
TYPE OF CREDIT 1960 1965 1970 1973 1974 1976 1976 1977 1978 1979 I960 1981
1962,
May
C red it o u ts ta n d in g ..................... 65.2 103.2 143.1 203.1 213.4 223.1 248.9 289.2 337.9 377.0 385.2 409.5 409.5
Ratio to disposable personal
income 1(percent)......... 18.5 21.7 20.6 22.2 21,4 20.4 20.8 22.0 22.9 22.8 21.1 20.2 (NA)
Installment...................................... 45.1 73.9 105.5 155.1 164.6 172.0 193.5 230.8 273.6 312.0 313.5 333.4 329.3
Automobile paper........................ 18.1 29.4 36.3 53.8 54.3 57.2 67.7 62.9 101.6 116.4 116.8 126.4 127.2
Revolving.................................... (NA) (NA) 5.1 11.7 13.7 15.0 17.2 39.3 48.3 57.0 58.4 63.1 58.6
Mobile home paper..................... (NA) (NA) 2.5 13.6 14.6 14.4 14.6 15.0 15.2 10.8 17.3 18.5 18.5
All other loans............................ 27.0 44.5 61.6 76.0 82.0 65,3 94.1 93.4 108.5 121.9 121.0 125.4 125.6
Nonin$tallment............................... 20.1 29.3 37.6 48.0 48.6 51.1 55.4 58.6 64.3 65.0 71.7 76.1 80.2
Single-payment loans.................. 9.1 15.5 19.3 27.3 26.8 27.4 28.8 32.8 35.8 35.8 40.0 42.4 44.4
7.2 8.3 9.2 10.7 11.2 11.7 13.2 11.0 12.0 12.8 13.1 14.4 12.5
Service credit............................. . 3.7 5.5 9.1 10.0 10.9 12.0 13.4 14.8 16.4 16.4 18.6 19.3 23.3
Installment credit:
Extended.................................... 50.8 79.9 115.1 173.0 172.8 180.1 210.7 257.6 297.7 324.8 306.1 336.3 29.2
Liquidated................................... 47.0 71.6 110.4 152.8 163.3 172.7 189.2 222.1 254.5 286.4 304.6 316.5 27.8
3.8 8.3 4.7 20.2 9.5 7.4 21.6 35.5 43.1 38.4 1.4 19.9 1.4
Ratio: Liquidations to disposable
income 13 (percent)___ 13.3 15.0 15.9 16.7 16.4 15.8 15.8 17.0 17.4 17.4 16.7 15.7 15.6
Life insurance policy loans3............ 5.2 7.7 16.1 20.2 22.9 24.5 25.8 27.6 30.1 34.8 38.9 48.7 51.0
Delinquency rate, bank installment
loans4............. ........................... 1.93 1.81 2.14 2.53 3.13 2.77 2.57 2.62 2.71 2.93 2.82 2.61 *2.10
NA Not available. ‘See table 703. Seasonally adjusted. 3Source: American Council of Life Insurance, Washington,
D.C. Figures are annua) statement asset values. These loans are not included In "Credit outstanding." 4 Number of closed end
(excluding revolving credit and bank cards) loans delinquent 30 days or more as a percentage of total installment loans
outstanding. Source: American Bankers Association, Washington, D.C., D e lin q u e n c y R a te s o n B a n k in s ta llm e n t L o a n s . * March.
Source: Except as noted, Board of Governors of the Federal Reserve System, F e d e ra l R e s e rv e B u lle tin , monthly.
No. 8 4 5 . C o n s u m e r In s t a l l m e n t C r e d it O u t s t a n d in g , b y Ho l d e r : 1 9 6 0 t o 1 9 8 2
[In billions of dollars. As of end of year or month. Estimated]
HOLDER 1660 1965 1970 1973 1974 1975 1976 1977 1978 1979 1980 1981 1962,
May
Total...................................... 45.0 73.9 105.5 155.1 164.6 172.0 193.5 230.5 273.6 312.0 313.5 333.4 329.3
Commercial banks......................... 18.7 31.8 48.7 75.9 80.1 82.9 93.7 112.4 136.1 154.2 147.0 149.3 146.1
Finance companies......................... 15.4 23.9 27.6 35.4 36.1 36.0 38.9 44.9 54.3 68.3 76.8 89.8 92.0
Credit unions....................... .......... 3.9 7.3 13.0 19.6 21.9 25.7 31.2 37.6 44.3 46.5 44.0 46.0 45.5
Retailers 1...................................... 6.3 9.8 13.9 16.6 18.1 18.2 19.3 23.5 26.0 28.1 28.5 29.6 26.5
Other2........................................... .7 1.1 2.3 7.6 8.4 9.2 10.5 12.2 13.0 14.9 17.2 18.8 19.2
‘ Excludes 30-day charge credit held by retailers, oil and gas companies, and travel and entertainment companies,
includes mutual savings banks, savings and loan associations, and gasoline companies.
Source: Board of Governors of the Federal Reserve System, F e d e ra l R e s e rv e B u lle tin , monthly.
No. 8 4 6 . I n s t a l l m e n t C r e d i t — F i n a n c e R a t e s o n S e l e c t e d T y p e s o f C r e d i t f o r C o m m e r c i a l
B a n k s a n d F i n a n c e C o m p a n i e s : 1 9 7 2 t o 1 9 8 2
[Percent per year. Annual averages, except as indicated. Commercial bank rates are "most common" rates for direct loans with
specified maturities; finance company rates are weighted averages for purchased contracts, except personal loans]
TYPE 1972 1973 1974 1975 1976 1977 1978 1979 1980 19B1 1982,
May
Commercial banks:
New automobiles (36 months)........................... 10.05 10.21 10.97 11.30 11.07 10.92 11.02 12.02 14.30 16.54 17.20
Mobile homes (64 months)................... ............. 10.79 10.94 11.45 11.82 11.75 11.84 12.09 12.77 14.99 17.45 18.23
Other consumer goods (24 months).................. 12.46 12.60 12.99 13.08 13.02 12.97 13.19 13.85 15.47 18.09 18.90
Personal loans (1 2 months)............................... 12.68 12.83 13.26 13.41 13.30 13.36 13.61 14.09 15.68 18.47 19.42
Credit-card plans............................................... 17.21 17.21 17.21 17.16 17.05 16.86 17.03 17.03 17.31 17.78 18.41
Finance companies:
New automobiles.............................................. 11.60 12.08 12.61 13.12 13.17 13.14 13.14 13.48 14.84 15.91 14.78
Used automobiles............................................. 16.53 16.70 17.18 17.64 17.63 17.62 17.63 17.95 19.10 19.98 20.84
Mobile homes.................................................... 12.42 12.78 13.29 13.63 13.44 13.58 13.43 13.64 15.47 16.89 19.01
Other consumer goods...................................... 19.35 18.87 19.09 19.78 16.51 19.21 19.04 19.08 20.61 18.11 22.74
Personal loans............ ..................................... . 21.09 20.61 20.74 20.97 21.04 20.54 20.52 20.49 21.13 21.68 22.98
Source: Board of Governors of the Federal Reserve System, F e d e ra l R e s e rv e B u lle tin , monthly, and A n n u a l S ta tis tic a l D ig e s t.