Full text of G.20 Finance Companies : December 1974

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FEDERAL

RESERVE

statistical

^

r e l e a s e

jG

; December 1974
FINANCE COMPANIES - October 1974 .

i

.

<

'

Consumer Instalment credit held by finance companies; declined 0.1 per cent
during October. Increases in credit for retail passenger cars: and mobile homes were
offset by decreases in other areas of consumer credit.
Both extensions and repayments of consumer credit were greater than in the
previous month. Retail passenger car extensions, while showing the largest increase \
of all the major consumer credit areas during October, were much smaller than for
the same period last year.
j
After a 5.8 per cent increase in September, business!credit outstanding
dropped 1.0 per. cent during October. Credit for retail commercial vehicles continued
to decline, as in the two previous months, and growth in wholesale automotive paper,
which was quite strong during the previous month, slowed substantially in October.
Both extensions and repayments of business credit were greater|than in September.

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

Type of credit

October 31,
1974
38,901

Increase or decrease (-) during:
October
October
Year ended
Oct . 31, 1974
1973
1974
;
j
372
2,536
Z20

Consumer instalment credit
- Retail automotive (passenger
cars)

.12,458

113

^38

Mobile homes
Other retail consumer goods
Home improvement loans
^
Personal loans'

3,597
4,658
1,054
17,13.4

24
-4
-19
-134

;

34
51
! 38
i i n

.

-

599
328
342
207
1,060
•

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

Type of credit

Extended by finance cos.
Oct.
Oct.
Sept
1973
1974
-1974

Consumer instalment credit
Retail automotive (passenger
cars)

3,293
830

731

Mobile homes
Other retail consumer goods
Home improvement loans
Personal loans

128
896
19
1,420

132
. 857
• 20
1,388




3,128

E.Gpaid to finance cos.
Oct.
Sept.
Oct.
1973 ,
1974
1974
3,393

3,150

904

3,313
I717

653

766

146
1,052
89
1,574

104
. 900
38
1,554

918
875
4.4
1,480

112
1,001
51
1,463

3,765

/ojb

-2-

G.20

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

Type of credit
Business credit
Retail automotive (commercial
• Wholesale automotive
- Retail paper- on business, industrial and farm equipment
Loans on commercial accounts
receivable
Factored commercial accounts
receivable
All other .business credit

Oct. 31,
1974 ,

Increase„or decrease (-) during:
Year ended
October
- October
Oct. 31, 1974
1973
1974

30,897

Zlll

499

2,938

4,450
6,964

. -47
28

6
304

197
1,125

8,893

147

147

1,849

-277

1,548
- 7,193

-187
25

916
-146

30 .
-57
69

• 1
|

-31
877

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

Type of credit .
Bus in^&s^* 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

Extendeci by. finance cos.
Oct.
Sept.
Oct.
1974
1974
1973
10,548

9,200

348
3,901

. 313
3,116

Repaid to finance cos.
Sept.
Oct. .
1974
1973
1974

10,948

10,859

7,489

10,449

397
3,892

395
3,873

400
1,475

391
3,588

1,213

961

1,550

1,066

902

1,403

2,207

: 2,040

2,401

2,484

2,319

2,371

1,438
1,441

1,419
1,351

1,352 .
1,356

1,625
1,416

1,429
964

1,409
1,287

- Bank loans to finance companies experienced an almost negligible increase
during October. Total finance company commercial paper continued to grow, as it has
since July. Both dealer- and directly-placed paper contributed to the increase.




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

Type of credit
Consumer instalment credit
Retail automotive (passenger
car)

165
99
-4
39
-1
32

Mobile homes
Other retail consumer goods
Home improvement loans
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

-472

!

163

-80

-74
-18
-156
-70
-154.

j

64
6
25
-6

74

-49
-8
-101
-13
- 91

1

!

>

1,348

-400

3,370

410

35
785

-49
9

-5
2,398

285

252

-337

164

-337

167 •

-194

165

113

196
452

216
129

86
85

19
90

.
j

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

October 31,
1974

Total financed at retail

Montih
ago

-68

13 .

292

-26
-25
-17

12
< 2
:• : . ™1j

133
91
68

New passenger
Used passenger
New and used commercial

Change from:
Year
ago

Selected Liabilities of Finance Companies
(In millions of dollars)

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




October 31,
1974
6,551
. 22,275
21,057
1,218

October
1974
1
266
234
32

Increase or decrease
(-) during:
October
' September
1973
i 1974

!
1

j

80
169
196
-27 ;

-849
983
481
502