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FEDERAL RESERVE statistical release August 8, 1997 Finance Companies G.20 The series in this release have been revised to incorporate several changes resulting from the benchmarking of finance company receivables to the June 1996 Survey of Finance Companies. In that benchmark survey, and in the monthly surveys that have followed, more detailed breakdowns have been obtained for some components. In addition, previously unavailable data on securitized real estate loans are now included in this release. The new information has resulted in some reclassification o f receivables among the three major categories (consumer, real estate and business) and in discontinuities in some component series between May and June 1996. Major changes are: Motor vehicle leasing. New detail on motor vehicle lease receivables breaks that item into consumer and business components. The bulk of motor vehicle leasing is now classified as consumer receivables. Previously, with no detail available, all leases were carried as business receivables. The separation between business and consumer leases has been estimated back to June 1980. -2- Revolving credit. Revolving credit (primarily credit card receivables) is now shown as a separate item under the consumer category. Previously revolving credit was part of the "other" component. The separation of revolving from "other" has been carried back to December 1984. (It should be noted that credit card receivables held by bank subsidiaries of finance companies are not included in the statistics reported here; they are included elsewhere in data series for banks.) Real estate loans. Real estate loans held by finance companies are now disaggregated into loans on one-to-four family properties and "other" types. This more detailed reporting has not been estimated for months prior to June 1996. Securitized real estate loans. The reporting of real estate loans originated by finance companies that are held in securitized asset pools begins with June 1996, resulting in a discontinuity in total real estate receivables between May and June 1996. Other discontinuities. Smaller discontinuities exist in all series on securitized receivables. More complete information exists for June 1996 and subsequent months than was previously available. A diskette containing complete historical data for all series shown in this release is available from the Federal Reserve Board’s Publications Section, Mail Stop 127, Board o f Governors o f the Federal Reserve System, Washington, DC, 20551; (202) 452-3245. FEDERAL RESERVE statistical release For immediate release FINANCE COMPANIES'* G.20 August 1997 June 1997 OWNED AND MANAGED RECEIVABLES2 1996_______________________ Jun Jul Aug Sep Oct Nov Dec ___________________ 1997 Jan Feb Mar Apr May Jun Seasonally Adjusted Growth Rates (percent at annual rate) Total Consumer Real estate Business n.a. n.a. n.a. n.a. 6.5 14.9 4.0 -0.3 10.1 2.5 33.4 9.8 -0.9 0.3 13.0 -6.4 4.7 -2.2 3.7 11.2 4.8 -0.6 2.5 10.3 5.8 4.7 34.5 -2.3 6.6 9.7 8.8 3.2 1.7 8.6 1.3 -4.4 9.7 4.5 28.8 8.0 2.7 21.7 14.3 -18.3 0.4 1.3 11.3 -4.1 11.3 7.5 27.1 9.3 743.1 301.7 103.8 337.5 747.1 305.5 104.2 337.4 753.4 306.1 107.1 340.2 752.8 306.2 108.2 338.4 755.7 305.6 108.5 341.6 758.7 305.4 108.8 344.5 762.4 306.6 111.9 343.8 766.6 309.1 112.7 344.7 767.7 311.3 112.8 343.5 773.8 312.5 115.5 345.8 775.6 318.2 116.9 340.5 775.9 318.5 118.0 339.3 783.1 320.5 120.7 342.0 Percent except as noted; not seasonally adjusted New car loans 9.53 9.81 Interest rate 50.4 50.5 Maturity (months) 91 91 Loan-to-value ratio 16,854 16,926 Amount financed (dollars) 10.49 51.4 92 16,927 10.52 51.9 91 17,182 10.40 52.5 89 17,435 10.31 52.3 90 17,719 8.60 52.3 90 17,670 7.17 55.1 92 17,090 7.44 54.6 92 16,837 8.08 53.5 90 17,198 8.56 52.8 91 17,620 7.80 53.2 93 18,060 7.64 53.3 93 18,171 13.92 51.3 100 12,132 13.87 51.0 100 12,108 13.75 51.1 101 12,326 13.56 50.3 102 12,393 13.42 49.9 99 12,492 12.93 51.5 99 12,362 13.08 51.1 99 12,202 13.18 51.1 99 12,194 13.29 51.2 99 12,195 13.48 51.3 99 12,261 13.55 51.3 99 12,239 Outstandings (billions of dollars) Total Consumer Real estate Business AUTO LOANS: TERMS OF CREDIT3 Used car loans Interest rate Maturity (months) Loan-to-value ratio Amount financed (dollars) 13.62 51.6 100 12,249 13.77 51.7 100 12,242 n .a.-n o t applicable 1. Includes finance company subsidiaries of bank holding companies but not of retailers and banks. 2. Owned receivables are those carried on the balance sheet of the institution. Managed receivables are outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originator. Data are shown before deductions for unearned income and losses. Components may not add to totals because of rounding. 3. 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. OWNED AND MANAGED RECEIVABLES2 ____________________1936______________________ Jun Jul Aug Sep Oct Nov Dec __________________ 1297__________________ Jan Feb Mar Apr May Jun Not Seasonally Adjusted Outstandings (billions of dollars) 746.7 741.3 747.9 749.4 754.2 759.8 769.7 767.7 766.2 775.0 776.6 777.8 787.2 Consumer Motor vehicle loans Motor vehicle leases Revolving4 Other® Securitized Assets® Motor vehicle loans Motor vehicle leases Revolving Other 301.6 86.3 86.7 29.8 37.8 304.2 88.0 88.1 30.0 37.9 305.7 87.2 88.9 29.2 38.3 306.8 88.7 89.9 29.4 36.5 305.7 88.0 91.4 29.6 33.8 307.1 87.6 91.8 29.9 33.6 310.6 86.7 92.5 32.5 33.2 310.6 86.8 93.6 32.3 34.4 309.9 87.1 94.3 32.2 34.0 311.0 85.8 95.6 33.2 34.0 315.6 83.2 96.7 34.3 34.3 317.5 85.1 97.3 34.4 34.7 320.6 87.0 98.5 34.1 35.3 36.7 7.6 35.8 7.5 37.2 7.5 36.2 7.4 35.8 8.1 35.3 8.8 36.8 8.7 35.0 8.6 34.2 8.5 34.5 8.4 38.3 9.4 36.8 9.3 36.8 9.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16.7 17.0 17.5 18.7 19.0 20.2 20.1 19.8 19.7 19.6 19.3 19.9 19.7 Real estate One- to four-family Other Securitized real estate assets6 One- to four-family Other 103.8 47.3 33.1 104.2 48.7 32.4 107.1 50.7 32.4 108.2 50.4 31.8 108.5 51.6 31.4 108.8 51.5 31.1 111.9 52.1 30.5 112.7 53.2 30.3 112.8 53.8 30.2 115.5 53.3 30.1 116.9 55.0 30.3 118.0 54.9 30.3 120.7 55.1 30.3 23.4 0.0 23.1 0.0 23.5 0.4 25.6 0.4 25.1 0.4 25.8 0.4 28.9 0.4 28.9 0.3 28.5 0.3 31.8 0.4 31.3 0.3 32.5 0.3 35.0 0.3 Business Motor vehicles Retail loans Wholesale loans7 Leases Equipment Loans Leases Other business receivables6 Securitized assets6 Motor vehicles Retail loans Wholesale loans Leases Equipment Loans Leases Other business receivables6 341.3 65.1 25.0 32.3 7.8 196.0 58.2 137.9 44.6 332.9 60.0 24.9 27.1 8.0 193.9 55.6 138.3 44.8 335.1 62.3 25.1 28.7 8.5 193.0 53.3 139.7 46.6 334.4 64.7 25.3 30.9 8.5 190.8 53.9 136.8 45.9 339.9 65.3 25.5 31.2 8.6 189.7 56.7 133.0 49.6 344.0 66.6 24.9 32.9 8.7 192.1 58.3 133.8 49.0 347.2 67.1 25.1 33.0 9.0 194.8 59.9 134.9 47.6 344.4 68.4 24.9 34.5 9.1 191.9 56.1 135.8 47.7 343.4 71.0 25.0 36.9 9.1 190.8 54.5 136.3 48.3 348.5 73.8 25.1 39.6 9.1 192.1 55.0 137.1 49.3 344.1 71.7 24.6 37.9 9.2 189.9 53.8 136.1 49.6 342.2 70.4 24.4 36.6 9.3 188.0 52.3 135.6 50.3 345.9 70.7 25.2 36.3 9.3 188.8 52.6 136.2 52.2 24.2 1.9 22.2 0.1 8.9 4.9 4.1 2.5 23.2 1.8 21.4 .0.0 '8.6 4.6 4.0 2.5 22.1 1.7 20.3 22.0 1.6 20.3 21.9 1.5 20.4 22.9 2.8 20.0 24.0 2.7 21.3 23.3 2.6 20.7 20.7 2.4 18.3 0.0 10.3 4.2 6.0 2.4 20.5 2.2 18.2 20.3 2.1 18.2 21.1 2.6 18.5 21.3 2.5 18.7 0.0 0.0 0.0 0.0 10.3 4.0 6.3 2.5 9.9 3.8 6.2 2.6 9.9 4.0 5.9 2.5 10.4 3.9 6.5 2.5 Total 4. 5. 6. 7. 8. 0.0 0.0 0.0 0.0 0.0 0.0 8.6 4.6 4.1 2.5 8.5 4.5 4.1 2.5 11.0 4.2 6.7 2.4 11.1 4.6 6.4 2.4 11.3 4.7 6.6 2.4 10.7 4.5 6.2 2.4 Excludes revolving credit reported as held by depository institutions that are subsidiaries of finance companies. Includes personal cash loans, mobile home loans, and loans to purchase other types of consum er goods such as appliances, apparel, boats, and recreation vehicles. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originator. Credit arising from transactions between manufacturers and dealers, that is, floor plan financing. Includes loans on commercial accounts receivable, factored commercial accounts, and receivable dealer capital; sraaillloans used primarily for business or farm purposes; and wholesale and lease paper for mobile homes, recreation vehicles, and travel trailers.
