Full text of G.20 Finance Companies : August 1973

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.'oOfCOVf''-.

FEDERAL

RESERVE

s t a t i s t i c a l

r e l e a s e

G. 20

August 1973

FINANCEi COMPANIES - JUNE 1973

Finance company holdings of consumer credit increas ed $508 million during
e
June, bringing the total holdings-to over $34 billion. All tt i major credit categories
contributed to this greater than seasonal growth. Over the ^cond quarter of the year
outstanding finance company consumer credit increased $1.6 „bil lion, with retail
passenger cars and personal loans showing the largest dollar, i ncreases.
Consumer credit extensions decreased $210 million ot -er the past month. All
the major categories except home repair and modernization contributed to the decline.
Business credit outstanding rose $124 million, bring ing the total holdings
to over $28 billion. A sizable decline in all other business credit, and a smaller
decline in retail commercial vehicles was more than offset by increases in all the
other loan categories. However, the total increase was much imailer than that recorded
a year ago.

Outstanding Consumer Credit Held by 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

June 30,
1973

Increase or decrease (-) during:
Year ended
June 30, 1973
June 1972

June 1973

4:645

34,367

15,469

1,509
394
786
404
1,552

159
38
63
9
143

249
56
17
38
148

11,121
3,081
4,002
694

Consumer Credit Extended and Repaid at Finance Companies
(In millions of dollars)
Extended by finance cos.
Type of credit

Repaid to finance cos.

1973
Consumer instalment credit
Retail automotive (passenger
cars)
Mobile homes
Other retail consumer goods
Home repair and modernization
Personal loans




May
1973

1972

1973

May
1973

3,817

4^027

3.479

3,309

3,246

917
150
1,047
70
1.633

923
164
1,070

883
131
895
39

668

668

. 94
1,030
32
1,485

130
916
23
1,509

68
1.802

1,531

1972
3,067.
724
93
832
30
1.388

G. 20
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

June 30,
1973

I
i

- Increase or decrease ( - )during:
June
|
June
1973
I
1972
June 30. 1973

28,078

124

420

2,951

4,511
6,513

-10
213

114
-152

175
532

7,666

159

175

1,072

1,940

106

27

341

1,593
5,855

81
-425

293
-37

26
805

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.
May
1973
1973
1972

Repaid to finance cos.
1973

May
1973

1972

9-765

9,989

7,966

9.641

9,261

7,546

387
3,394

409
3,525

442
2,968

397
3,181

387
3,427.

328
•3,120

1,005

960

.

779

846

843

604

1,873

1,598

1,186

1,767

1,260

1,159

1,648
1,458 |

2,145
1,352

1,319
1,272

1,567
1,883

2,054
1,290

1,026
1,309

In line with a reported increase in total bank loans, bank debt of finance
companies increased $"671 million this month as opposed to a decline of $178 million
last month. On the other hand, total commercial paper showed a normal seasonal
decline of $ 124 million in June.




:

G. 20

-3Change in Extensions and Repayments
(In millions of dollars)
Change in extensions from:
Year ago
Month ago

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

-210 -

338

-6
-14
-23.
2
-169

Change in repayments from:
Year ago
Month ago

34
19
152
31
1° 2

•

-224

-55
426

45

-36
114
9
-24

-56
1
198
2
97

226

275

242

1,799

-22
-131

63

I M S
10
-246

. 69
61

3

242

687

507

608

329
186

-497 "
106 .

•

-487
593

541
574

Number of Motor Vehicles Financed at Retail by Finance Companies
(In thousands)

Type of vehicle

Change from:
Year
Month
ago
ago

June 1973

Total financed at retail

381

Z±*

ZZ8

168
127
86

New passenger
Used passenger
New and used commercial

0
. -5
-13

1
-13
-16

Selected Liabilities of Finance Companies
(In millions of dollars)
^ncre.ise or decrease
) during:
Type of liability
1973
Bank loans (excl. commercial
paper)
Commercial paper
Directly placed




June 1973

May 1973

June 1972

. 6,150
19.411 18,307
1.104

671
-124
-80
-44

-178
896
~7S3
113

1,279

FEDERAL

7mm;

RESERVE

s t a t i s t i c a l

r e l e a s e

A u g u s t 1973

G. 20

FINANCE COMPANIES - J u l y

1973

, • C o n s u m e r credit outstanding at finance c o m p a n i e s iru
icreased $653 m i l l i o n
d u r i n g July, b r i n g i n g the total to over $ 3 5 . 0 billion. A l l
m a j o r types of credit
c o n t r i b u t e d to this g r e a t e r than seasonal expansion.
Extensions o f consumer instalment credit increased
114 m i l l i o n over the
previous month.
T h e bulk o f the rise w a s a t t r i b u t a b l e to st: e n g t h in personal loans,
r
w h i l e e x t e n s i o n s of credit for retail a u t o m o t i v e paper and mi
lObile homes w e r e below
the m o n t h e a r l i e r v o l u m e .
B u s i n e s s credit o u t s t a n d i n g decreased $ 1 8 1 m i l l i o n from June. A l l but two
lily extensions of business
of the m a j o r loan categories contributed to this d e c l i n e .
Ji
credit d e c r e a s e d $ 7 8 0 m i l l i o n reflecting d e c l i n e s in all the m a j o r types o f credit.

O u t s t a n d i n g Consumer Credit Held by F i n a n c e
(In m i l l i o n s of- d o l l a r s )

T y p e of credit
C o n s u m e r i n s t a l m e n t credit
R e t a i l a u t o m o t i v e (passenger
cars)
M o b i l e Homes
Other retail c o n s u m e r goods
Home repair and m o d e r n i z a t i o n
P e r s o n a l loans

Companies

I n c r e a s e or decrease (-] during:'
Year ended
July 1972 = July 31, 1973
•
July 1973

July 31,
1973
35.020

343

653
244
51
101
39
218

11,365
3,132
4,103
733
15.687

•

4.955

102
38
54
35
114

1,651
407
833
408
1.656

C o n s u m e r Credit Extended and Repaid at F i n a n c i Companies
(In m i l l i o n s of d o l l a r s )
Extended by finance cos
Type of credit
C o n s u m e r i n s t a l m e n t credit
Retail a u t o m o t i v e (passenger
cars)
M o b i l e Homes
Other retail c o n s u m e r goods
Home repair and m o d e r n i z a t i o n

Digitized e r s oFRASER
for n a l loans
P
•


Repaid to finance

July
1973
3,931
890
143
1,075
77.
1,746

I

June
1973
3.*17

July
1972
3.184

July
1973
3.278

1973
3,309

917
150
1,047
70
1.633

773
126
853
47
1,385

646
92
974
38
li528

668
94
1,030
32
:
1.485

July
1972

G. 20
Outstanding Business

Credit

Held .by F i n a n c e

(In m i l l i o n s

f
- -

Type.of

Retail

;

27,897

credit
automotive

Increase

vehicles

July

|

(commercial
4,466

Wholesale automotive
R e t a i l p a p e r o n b u s i n e s s , industrial and far# equipment

Factored

j

-45
-160

' July

1972

July 31,

-809

j

1973

3,579

43

.

1

87

-919

7,826

160

128

1,104

1,891

-49

22

270

-89

-123

,

60

2

40

i

767

commercial accounts

receivable
All other b u s i n e s s credit

1,504
5,857

Business Credit

Extended

and

(In m i l l i o n s

of

|

credit

!

Business credit
Retail a u t o m o t i v e

1973
8,985

vehicles)

at

June '
.

Finance

Companies

dollars)

1973

July
1972

I

|

July
1973
9,166

9,765

357
3,131

automotive

R e t a i l p a p e r o n b u s i n e s s , industrial and farm equipment
commercial accounts

receivable
Factored commercial
receivable
All other business

Repaid
of

•

accounts
credit




j
j

387
•3,394

384
1,892

402
i 3,291

j

3,181

1972
6,943

9,641
397

.

]• i ly
•

June
1973

(commercial

-^Wholesale

j
1

July

1

Type

on

(-)

commercial accounts

receivable

Loans

1973

z m

6,353

L o a n s on

or d e c r e a s e

July 31,

credit

1973
Business

Companies

of d o l l a r s )

1
|

341

; 2,811

930

1,005

665

770

846

j 1,795
1

1,873

1,081

1,844

. 1,767

1,059

i 1,466
| 1,306

1,648
1,458

1,030

1,555

1,567

1.082

! 1.304

1.883

1,153
- 1.042

!

537

j

, q >
G. 20
Change in Extensions and Repayment
(In millions of dollars)
Change in extensions from
Month ago
Year ago

Type of credit
• Consumer instalment credit
R e t a i l automotive (passenger
cars)
M o b i l e Homes
Other retail consumer goods
Home repair and modernization
Personal loans
Business credit
Retail automotive (commercial"
vehicles)
Wholesale automotive
Retail paper on b u s i n e s s , industrial and farm equipment
Loans on commercial accounts
receivable
Factored commercial accounts
receivable
All other business credit

Change in repayments from:
Month ago
Year ago

114

747

Z31

437

-27
-7

-22
-2
-56

7
113

117
17
222
30
361

-25
4
175
26
257

-780

2.851

-475

-30
-263

-27
1,239

5
110

61
480
233

28

6

43

-75

265

• -76

-78

714

77

785

-182
-152

436
224

-12
-579

402
262

Number of Motor Vehicles Financed at Retail by Finance Companies
(In thousands)
-

• 1

Type of v e h i c l e
July 1973

m

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

•

161
120
81

1
'

Change from:
Year
Month
ago
ago
rl9

I
.

:

j

-A
16
-4
-6

-7
-7
-5

Selected Liabilities of Finance Companies
(In millions of dollars)
Incirease or decrease
( - ) during: • .
Type of liability

Bank loans (excl. commercial,
paper)
Commercial paper , .
Directly placed




July
1973

July 1973 J

7,034

884

19.179
17,631
1 SAft

2232
-676
444

June 1973

671

' July 1972

- :ll
-124

•

-224
114
-94