Full text of G.20 Finance Companies : January 7, 1971
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R E S E R V E 413 FEDERAL elea se s t a t i s t i c a l G.20 : January 7, 1971 FINANCE COMPANIES " — i > NOVEMBER 1970 Holdings of consumer instalment paper by finance: companies continued to decline during November reducing the total holdings to $31 billion. Passenger car and nonautomotive consumer goods paper outstanding declined $239 million and $46 million respectively. Personal loans outstanding, on the other hand, increased $57 million largely as a result of the $221 million advanci. in credit extended in personal loans during November. Total credit extended to consumers in November was $45 million less than the amount extended in October. The largest decline, $180 million, occurred in passenger car credit, reducing these extensions to $430 mi lion. . Extensions of nonautomotive consumer goods were down $85 million from those a month ago. The $221 million increase in the amount of personal:loan extern:ions only partially offset . the drop in the other two major categories . Total business credit outstanding at finance coiimpanies and total extensions The decline was present of business credit both declined from October to November in all three major categories. • -' , 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. 1970 Increase or decrease during: Year ending • NOA Nov.',/ Nov. 30, 1970' 1969 19 31,081 -Z 10,226 -22 6,548 9 - 1 163 94 14,213 18,163 3,013 2,899 12,251 -309 - 1 -27 - 62 - 13 431 Not available at present due to revisions in reporting 1/Excludes some credit extended to business, such as that e xtended by factoring subsidiaries. 2/Less than 0.5 million, dollars. Credit Extended by Finance Companies (In millions of dollars) Consumer 1970 2,342 instalment credit Retail automotive (passenger cars) 430 2# 165 New UsedOther consumer goods' Home repair and modernization Personal, loans ^ Change from: November Type of credit | 1 - Mtinth ago . Year ago - 45 -176 -180 -257 -160 - 20 419 - 85 • 1 - 1,492 1 221 2,957 -655 138 - 52 wholesale automotive paper 1,05 7 -224 Other business credit 1,762 'Business credit 1/ Retail automotive (commercial vehicles) 3/ 3/ - 29 - 3 113 Not available at present revisions in reporting -379 i . 1/Excludes some credit extended to business, such as that extended by factoring subsidiaries. 2/Less than 0.5 million dollars. _3/Not avai 1 abl-er'due to revisions in reporting. Number.of Motor Vehicles Financed by Finance Companies (In thousands) Type of .vehicle November 1970 Total financed, at retail New passenger Used passenger New and used commercial 78 89 29