Full text of G.20 Finance Companies : April 1973

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•of COW. -.

FEDERAL

I

RESERVE

statist! c a I

?

[ r e l e a s e

G. 20
FINANCE COMPANIES - FEBRUARY 1973

Consumer instalment credit outstanding at finance cojtnpanies increased $254
million during February. All types of credit except mobile home financing contributed
to this greater than seasonal -expansion.
On the other hand, total paper acquired and direct 1oans made by these
companies in February were $61 million less than in the previous month. February
year ago. The monthly
extensionshowever, were $358 million larger than extensions
in both other
. decline in total extensions reflected smaller extensions than in|-January
i
retail consumer goods and personal loans.
Total business credit outstanding at finance companies increased $396 million
esale automotive credit to
during February mainly as the result of a large increase,in whole
finance auto dealer floor planning. While total business extensiions were $488 million less
than in January, wholesale automotive and business, industrial and farm equipment extensions
were higher than in the previous month.

Outstanding Consumer Credit Held by Finance C
(In millions of dollars)

Type of credit
Consumer instalment credit
Retail automotive (passenger
cars)
Mobile homes
Other retail consumer goods
Home repair and modernization
Personal loans
*Less than 0.5 million

Feb. 28,
1973
32,431

^Increase or <lec-rease (-' during:
February
February
Year ended__
Feb. 28; 1973
1972
1973
-28
3.736
,
254

10,267
2,909
3,752
- 562

14.941

90
-19
108
34

868
338
710
304
1.516

-60
10
"

*

1
21

41

*

Consumer Credit Extended and.Repaid at Finance Companies
(In millions of dollars)

Type of credit
Consumer instalment credit
Retail automotive (passenger
cars)
Mobile homes
Other retail consumer goods
Home repair and modernization
Personal loans


! '


Extended by finance cos.
Feb.
Feb.
, Jan.
1973
1972
1973
2.614
3.033
2.972
699
717
109
97
908
844
46
49
1,253 . .1,283

605
88
707
17
1,197

Repaid to finance
Feb.
- Jan.
1973
1973
2^944
2,718

cos.
Feb.
1972
2.642

627*1
128
736
15
1,212

665
78
707
16
W76

696
85
853
15
1,295

Outstanding Business Credit Held by Finance Companies
(In millions of dollars)

< Type of credit

Business credit
Retail automotive (commercial
vehicles)
.. . Wholesale automotive
Retail paper on business, industrial and farm equipment
Loans on commercial accounts
receivable
Factored commercial accounts
receivable
All other business credit

Feb. 28,
1973

Increase or decrease (-) during:
Year ended ^
February
1 February
l
1972
1973
Feb. 28, 1973

27,107

596

639

3,343

4,395
6,039

-25
505

86
417

669
423

-85

1,088

7,562

.

-49

-

1,751

24

29

169

1,475
5,885

44
9-7

56
136

30
964

Business Credit Extended and Repaid at Finance Companies
(In millions of dollars)

Type of credit

Business credit
Retail automotive (commercial
vehicles)
Wholesale automotive
Retail paper on business, industrial and farm equipment
Loans on commercial accounts
receivable
Factored commercial accounts
receivable
All other business credit

Extended by finance cos".
Feb.
Jan.
Feb. .
1973
1973
1972

Repaid to finance cos.
Feb.
Feb.
1973
1973
1972

8,471

8,959

6/529

7,875

8,588

5,890

354
3,380

357
3,294

391
2,749

379
2,875

378
3,165

• 305
2,332

853

810

525

902

729

610

1,256

1,346

1,006

1,232

1,343

977

1,463
1,165

1,960
1,192

879
979

1,41-9
1,068

1,851
1,122

823
843

Bank and commercial paper debt registered sizable increases. While directly
placed,commercial paper showed a larger than seasonal increase, dealer placed paper
declined S334 million. Some finance companies, rather than pay the higher interest
rates in the dealer placed market, made heavier than usual use of their bank lines of
credit.
__




.
-

G.20

-3

1

Change in Extensions and Repayments
(In millions of dollars)

Type of credit
Consumer instalment credit
Retail automotive (passenger
cars)
Mobile homes
Other retail consumer goods
Home repair and modernization
Personal loans

Change in extensions from:
Month ago
Year ago
-61 •358

Business credit
Retail automotive (commercial
vehicles)
Wholesale automotive
Retail paper on business, industrial and farm equipment
Loans on commercial accounts
receivable
Factored commercial accounts
receivable
All other business credit

18
12
-64
3
-30

112
21
137
32
56

-488

1,942

-3
86

-37
631

.

Change in repayments from:
Month ago
Year ago
-226
76
-69
43
-117

I
1

-38
50
29
-1 .
36

*

.

-83
i

Zll3

1,985

! "'

* i
-290

-

74
543

43

328

173

292

-90

250

-111

255

497
-27

584
186

-432
-54

.5.96
225

* Less than 0.5 million
Number of Motor Vehicles Financed at Retail 1 1iy Finance Companies
(In thousands)

Type of vehicle

February 28,
1973

Total financed at retail
New passenger
Used passenger
New and used commercial

Change
Month
ago

Year
ago

320

10

o

126
113
81

3
2
5

19
-4
-15

Selected Liabilities of Finance Companies
(In millions of dollars)
!

Bank loans (excl. commercial
paper)
Commercial paper
|
'

,v

Increase or decrease
(-) during:
February
January
February .
1972
1973
1973

Feb. 28,
1973

m

604
-334

Directly placed
nofllpr nlflred


'
•
• ;
..


-226
19

446

5,269
18,366

•

;

.

JJo9

,

^,16 8.

Type of liability