Full text of G.20 Finance Companies : February 3, 1972

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F E D E R A L

R E S E R V E
release

s t a t is fi c a I

February 3, 1972
\

FINANCE. COMPANIES
DECEMBER 1971

Holdings of consumer instalment paper by f inancje companies continued to
rise in the final month.of the year bringing the total amo'
outstanding to over
$32 billion. The $497 million increase ,in December reflecteiid growth in all major
types of consumer credit held, by this sector. Since Decent er 1970, total holdings
have risen more than $1 billion as a result of increases in three of the major credit
categories. These gains more than offset a moderate dec!in e in other consumer goods

Total credit extended to consumers in December was $355 million more than
the amount extended in November. Extensions of both persona 1 loans and other consumer'
goods credit showed large seasonal increases, but borrowing for retail automobile
purchases was somewhat lower than in November.
Business credit outstanding at finance companie advanced by $231 million
in December, largely because of increases in wholesale autoijmotive paper and "other"
business credit.
However, extensions of business credit de creased $219 million from
November.
The total number of motor vehicle contracts acq jired by finance companies
declined in December, the third consecutive monthly reducti an. The number of commercial vehicles financed was unchanged from November, but the number of new and used
passenger cars dropped 18,000 units and 2,000 units, respec Lively.
Outstanding Credit Held by Finance C m p a n i e s
(in millions of dollars)

Type of credit

Consumer instalment credit
Retail automotive

(passenger cars)

Other consumer goods
Home repair and modernization
Personal loans
Business credit 1/
Retail automotive (commercial
vehicles)
Wholesale automotive
Other business credit

December 31,
1971

Inc:rease or decrease during:
Year ending
Dec.
Dec. 31, 1971
1970
197

32,140

49:

42

1,017

10,279

.3:

-285

338

6,521
107
15,233

19(

100

26?

227

20,710

231

3,123
5,004
12,583

12:
10(

-127
13 793

Not aivailable at
present due to
revisions in
reporting

tended by factoring
subsidiaries .
* Less than 0.5 million dollars.




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Gredit Extended by Finance Companies
(In millions of dollars)

Type of credit

Consumer instalment credit
Retail automotive (passenger cars)
New
. Used

Dec. 31,
1971

Business credit 1/
Retail automotive (commercial vehicles)

Year ago

3,370

355

5 75

__727

- 6r

ill

547
180

- 56
- 5

N.A.
N.A.

_

Other consumer goods
Home repair and modernization
Personal loans

Change from:
Month ago

670
6
1,967

'

5,776
1.78

121
4
177

174 •
2
240
-219
9-

Wholesale automotive paper

2,596

-513

Other business credit

3,002

285

Not available
at present
due to
revisions
in reporting

V E x c l u d e s some credit extended to business, such as that extended by factoring
subsidiaries.
N.A. Not available.

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

Type of vehicle

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




December 1971

280
144
95
41