Full text of G.20 Finance Companies : December 1973

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

F

E

D

E

R

A

R

L

s t a t i s ti c o I

E

S

E

R

V

E

r e l e a s e
December 1973

FINANCE COMPANIES - October 19

Finance company holdings of consumer instalment c edit rose $372 million
during the month of October, bringing the total to over $36 billion. All the major
areas of consumer credit contributed to this seasonal growt
Extensions and repayments of consumer credit were considerably greater
than last month, reflecting usual seasonal developments. E<irsonal loans and retail
automotive paper accounted for much of the rise in both ext^insions and repayments.
Finance companies reported a seasonal increase of $499 million for total
busines credit gnts-fcaiiding, with wholesale automotive paper accounting for the
re $2.3 billion greater
major portion of this growth. Business credit extensions
than in September. Greater than seasonal increases in whole;sale automotive paper,
hd loans oh commercial
retail paper on business, industrial and farm equipment
.accounts receivable formed the bulk of this rise.

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

Type of credit
Consumer instalment credit
Retail automotive (passenger
cars) Mobil homes
Other retail consumer goods
Home improvement loans!/
Personal loans

Increase <;r decrease (-' during:
October
Year ended
October
Oct. 31, 1973
1972
1973
5,395
320
372

Oct. 31,
1973
36,365

138
34
51
38
in

11,859
3,269
4,316
847
16,074

1,945
407
886
435
1,722.

79
42
63
29
107

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, improvement loans \J

Personal loans

Extended by finance cos
Oct.
Sept.
Oct.
1972
1973
1973
3.348
3.189
3,765
904
146
1,052
89
1,574

http://fraser.stlouisfed.org/
1/ Formerly Home repair and modernization
Federal Reserve Bank of St. Louis

696
144
951
85 !
1,313
loans.

827
135
941
40
1,405

Repaid to finance cos.
Oct.
Sept.
Oct.
1972
1973
1973
3.028
3.393
L830
766
112

1,001
51
1,463

558
96
, 880
- 47
1,249

748
93
878
11
1,298

G.20

-2-

.

.1

' 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

Increase or decrease ( - ) during:
October
October
Year ended
1973
1972
Oct. 31, 1973

Oct. 31,
1973
27,959

499

684

.4,253
5,839

6
304

91
233

7,977

147

306

694
. "292

1,995

30

42

1,579
6,316

-57
69

-37
49

,

3,142
I

-174
1,072

248
1.010

.

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
Loan's on commercial accounts
receivable
Factored commercial accounts
receivable
All other business credit

Repaid to finance cos.
Oct.
Sept.
Oct.
1973
1973
1972

Extended by finance cos.
Sept.
Oct.
Oct.
1972
1973
1973
10,948

8,625

9,131

10,449

7,897

8.447

397
3,892

251
3,289

449
3,490

391
3,588

407
2,382

358
3,257

1,550

916

1,008

1,403

938

702

2,401

1,623

1,413

2,371

1,580

1,371

1,352
1,356

1,241
1,305

1,370
1,401

1,409
1,287

1,199
1,391

1,407
1,352

,

Finance company net borrowing at banks and in the commercial paper market
rose somewhat in October, following a sizable decline in the preceding month. Reliance
commercial paper increased relative to bank loans as a source of funds, however,
apparently in response to changed interest cost relationships.




>ol

G. 20
Change in Extensions and Repaypien
(In millions of dollars)

Type of credit
Consumer instalment credit
Retail automotive (passenger
cars)
Mobile homes
Other retail consumer.goods
Home improvement loans 1/
Personal loans

Change in extensions- from
Month ago
Year ago
576
417
208
2
101
4
261

,

Change in repayments from:
Month ago
Year ago
563

365

77
11
111
49
169

Business credit
2.323
1.817
Retail automotive (commercial
vehicles)
146
-52
Wholesale automotive
603
e •
402
Retail paper on business, industrial and farm equipment
634
542
Loans on commercial accounts
receivable
778
988
Factored commercial accounts
receivable
111
-18
All other business credit
5.1
-45
17 Formerly Home repair and modernization loans

18
19
123
40
165
2,552

2,002
33
331
701

1,000
210
-104

2
-65

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

Oct. 31,
1973
-

Type of vehicle

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

Change from:
Year
Month
ago
ago

360

83

Z21

159
'/
116
85 *

40
15
28

-2
-1
-18

Selected Liabilities of Finance Com
(In millions of dollars)

Type of liability

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




Oct. 31,
1973

5,317
19,968
18,372
1

Incr Base or decrease
f - ) during
October
September
October
1973
1973
1972

-849
983

-185
-829

376
517

m