G.19                                                        CONSUMER CREDIT                        For release at 3 p.m. (Eastern Time)
1                                                            January 2005                                                 March 7, 2005

Consumer credit increased at an annual rate of 6-1/2 percent in January, up from a 4-3/4 percent pace in the fourth quarter.  Both
revolving and nonrevolving credit posted moderate gains in January.

CONSUMER CREDIT OUTSTANDING 1
Seasonally adjusted
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                                                                         2003                        2004                        2005
                                                                        _______ _______________________________________________ _______

                                 2000    2001    2002    2003   2004 r    Q4      Q1      Q2     Q3 r    Q4 r    Nov r   Dec r   Jan p
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Percent change at annual rate 2,3
  Total                           10.7     8.0     4.5     4.5     4.9     2.2     6.3     1.9     6.3     4.7     0.9     5.0     6.6
   Revolving                      11.6     6.6     2.2     2.8     4.9     1.9     5.4    -1.9    10.4     5.5     0.9     8.5     8.1
   Nonrevolving 4                 10.1     9.0     5.9     5.6     4.9     2.4     6.9     4.2     3.9     4.2     0.9     2.8     5.6

Amount: billions of dollars
  Total                         1705.1  1842.2  1924.2  2011.3  2109.6  2011.3  2043.0  2052.6  2085.0  2109.6  2100.9  2109.6  2121.1
   Revolving                     677.7   722.3   738.3   758.7   796.0   758.7   768.9   765.2   785.2   796.0   790.4   796.0   801.4
   Nonrevolving 4               1027.4  1119.9  1185.9  1252.6  1313.6  1252.6  1274.1  1287.4  1299.9  1313.6  1310.5  1313.6  1319.8
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TERMS OF CREDIT AT COMMERCIAL BANKS AND FINANCE COMPANIES 5
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                 9.34    8.50    7.62    6.93    6.60    6.82    6.72    6.43    6.55    6.71    6.71     n.a.    n.a.
   24-mo. personal               13.90   13.22   12.54   11.95   11.89   11.97   11.88   11.80   12.02   11.84   11.84     n.a.    n.a.
        Credit card plan
    All accounts                 15.78   14.87   13.40   12.30   12.71   12.34   12.66   12.68   13.01   12.50   12.50     n.a.    n.a.
    Accounts assessed interest   14.92   14.46   13.11   12.73   13.21   12.93   12.41   12.93   13.60   13.92   13.92     n.a.    n.a.

New car loans at auto finance companies
  Interest rates                  6.61    5.65    4.29    3.40    4.36    3.80    3.24    3.65    5.54    5.01    5.64    4.97    5.56
  Maturity (months)               54.9    55.1    56.8    61.4    60.5    62.5    59.7    60.2    60.9    61.3    60.5    60.2    59.3
  Loan-to-value ratio               92      91      94      95      89      94      94      92      85      84      83      85      83
  Amount financed (dollars)     20,923  22,822  24,747  26,295  24,888  26,493  26,470  25,525  23,179  24,376  23,984  24,434  23,939

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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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                                                                               2003                        2004                        2005
                                                                              _______ _______________________________________________ _______

                                       2000    2001    2002    2003   2004 r    Q4      Q1      Q2     Q3 r    Q4 r    Nov r   Dec r   Jan p
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Total                                 1739.1  1878.6  1961.8  2050.1  2151.4  2050.1  2030.5  2042.2  2086.8  2151.4  2112.7  2151.4  2129.0

Major holders
Total                                 1739.1  1878.6  1961.8  2050.1  2151.4  2050.1  2030.5  2042.2  2086.8  2151.4  2112.7  2151.4  2129.0
Commercial banks                       554.0   571.8   606.4   661.0   697.4   661.0   649.7   652.7   668.8   697.4   667.4   697.4   686.0
Finance companies                      220.5   238.1   237.8   295.4   365.6   295.4   307.4   324.7   352.7   365.6   373.5   365.6   359.0
Credit unions                          184.4   189.6   195.7   205.9   217.8   205.9   207.1   211.7   215.0   217.8   217.0   217.8   217.4
Federal government and Sallie Mae      104.0   119.5   129.6   114.6    98.4   114.6   109.8    94.8    99.2    98.4    98.6    98.4   100.8
Savings institutions                    64.8    71.1    68.7    77.9    91.3    77.9    81.4    88.1    89.2    91.3    90.6    91.3    91.8
Nonfinancial business                   90.0    88.8    86.5    70.3    73.9    70.3    62.5    62.9    59.9    73.9    61.5    73.9    57.6
Pools of securitized assets 6          521.3   599.7   637.1   625.0   607.1   625.0   612.6   607.3   602.0   607.1   604.2   607.1   616.3

Major types of credit 7
Revolving                              704.2   750.3   766.7   787.7   827.5   787.7   760.9   764.6   780.2   827.5   792.3   827.5   801.7
   Commercial banks                    230.6   238.3   250.2   284.7   315.8   284.7   268.3   275.6   286.7   315.8   285.8   315.8   301.3
   Finance companies                    37.6    31.5    38.9    37.6    43.3    37.6    37.6    39.9    45.5    43.3    49.9    43.3    45.0
   Credit unions                        22.2    22.3    22.2    22.4    23.8    22.4    21.6    21.6    22.4    23.8    22.8    23.8    23.4
   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                 16.6    17.9    16.3    23.8    27.9    23.8    21.5    25.1    25.5    27.9    27.1    27.9    27.5
   Nonfinancial business                49.8    50.6    48.8    26.5    27.0    26.5    20.7    21.0    17.6    27.0    18.4    27.0    12.3
   Pools of securitized assets 6       347.4   389.7   390.3   392.7   389.7   392.7   391.2   381.4   382.5   389.7   388.3   389.7   392.1

Nonrevolving                          1034.8  1128.2  1195.0  1262.5  1324.0  1262.5  1269.6  1277.6  1306.6  1324.0  1320.4  1324.0  1327.3
   Commercial banks                    323.4   333.5   356.2   376.4   381.6   376.4   381.4   377.1   382.1   381.6   381.6   381.6   384.7
   Finance companies                   182.9   206.6   198.8   257.8   322.3   257.8   269.8   284.8   307.2   322.3   323.6   322.3   314.0
   Credit unions                       162.2   167.3   173.5   183.5   194.0   183.5   185.5   190.1   192.6   194.0   194.2   194.0   194.0
   Federal government and Sallie Mae   104.0   119.5   129.6   114.6    98.4   114.6   109.8    94.8    99.2    98.4    98.6    98.4   100.8
   Savings institutions                 48.2    53.2    52.4    54.0    63.4    54.0    60.0    63.0    63.7    63.4    63.5    63.4    64.3
   Nonfinancial business                40.2    38.2    37.7    43.8    47.0    43.8    41.7    42.0    42.3    47.0    43.1    47.0    45.3
   Pools of securitized assets 6       173.9   209.9   246.8   232.3   217.4   232.3   221.3   225.8   219.5   217.4   215.9   217.4   224.2

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 are at a simple annual rate and are calculated from unrounded data.
4. 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.
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.