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4 ) 1

ESERVE

FEDERA L

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r e I e a s e

s t a t i s t i c a l

G. 20

January 4, 1972

FINANCE COMPANIES
NOVEMBER 1971
Holdings of consumer instalment paper by finance companies continued to
increase during November bringing the total amount outstandir^,g to $31.6 billion. The
$312 million increase occurred in all of. the major categoric of consumer credit.
Total credit extended to consumers in November w; s $3 .0 b i l l i o n $360 million more than the amount extended in October. This increase was due to .a
•$387 million increase in personal loan extended which offset small declines in the
other categories .
Total business credit outstanding and total .exterj:sions of business credit
at finance companies declined $30 million and $294 million,- Respectively. Wholesale
automotive outstandings declined $89 million while retail autiomotive and other business
credit outstandings showed slight increases-. The extensions of wholesale automotive
goods rose for the month but were offset by declines in the iemaining categories.
The total number of motor vehicles financed by fi nance companies declined
from October to November. The number of used passenger cars financed remained the
same while the number of new passenger cars and ndw and used commercial vehicles fell
6,000 units and 8,000 units, respectively.
Outstanding Credit Held by Finance Companies
(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

November 30,
1971

Increase or decrease during:
Year ending
Nov
Nov. 30, 1971
1970
.1971

31,643

-312

.10,248

71

22

6,325

19
1
221

-223
12
751

106
14,964
.20,479

3,114
4,882
12,483

Not available at
present due to
revisions in ;
reporting

1/Excludes some credit extended to business, such as that extended by -factoring
subsidiaries.
•
* Less than 0.5 million dollars .




Credit Extended by-Finance Companies
(In millions of dollars)

Type of credit

i
|

!

,

- Changie from:

Nov. 30,
1971 ,

Month ago

Year ago.

360

673

1
Consumer

instalment credit

. „ Retail automotive

(passenger cars)

j

1 ,015

j

-

-

!.

Used

:

Other consumer goods
.. Home repair and modernization
Personal loans

Retail automotive

- 16

358

- 17
1

N.A.
N.A.

- io
1
387

77
3
235

-294

Not available
at present

496
4
1 ,727

j

Business credit 1/

788
603
185

j. . 5,995
_
(commercial vehicles)

Wholesale automotive paper
Other busine&s credit
_!/Excludes some credit extended
. . subsidiaries.
N .A... Not available.

169
1 / 3 ,109
; "

2:,717

i

!

i

- 13
revisions
in reporting

114
.-395

|

to business, such as that extended by factoring
-

'

:

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

November 1971

Totals-financed- at retail
New passenger
Used passenger
New and used commercial




.

1.62

97
41