Full text of G.20 Finance Companies : January 9, 1973

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F E D E R A L

R E S E R V E

s t a t istic a I

r e Ie a s

e

January 9, 1973

FINANCE COMPANIES - NOVEMBER 1972

Total consumer credit outstanding showed the largest monthly
increase for the y e a r — $ 4 5 7 million. This greater than seasonal expansion
was reflected in all of the major types of consumers credit.
Total credit extended to consumers in November was $233 million
greater than the amount extended in October. Extensions of home repair
and modernization and personal loans showed a moderate increase over
October extensions while the remaining three major categories showed
slight declines when compared to the preceding month.
Business credit outstanding increased, $423 million bringing the
total month-end holdings to over $25.2 billion. A1 though outstanding loans
on commercial accounts receivable and factored comir ercial accounts receivable
declined $14 million, these declines were more than offset by increases in the remaining four categories of business credit

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

Type of credit
Consumer instalment credit
Retail automotive (passenger
cars)
Mobile homes
Other retail consumer goods
Home repair and modernization
Personal loans

Nov. 30,
1972 .

Increase or decrease (-) during:
November
ovember
Year ended
1972
1971
Nov. 30, 1972

31,427

457

237

2.953

10,026
2,899
3,476
452
14.574

112
37
'46
40
222

34
10
9
7
177

426
353
515
219
1,440

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 repair and modernization
Personal
loans



Extended by finance cos.
Nov. . Oct.
Nov.
1972
1972
1971

Repaid to finance cos.
Nov.
Oct.
Nov.
1972
1972
1971

3,581

3 ,348

3,092

3,124

3.028

2.855

765
129
933
44
1,710

, 827
135
941
40
1 ,4ns

684
96
726
20
1 SAG

653
92
887
4
1,488

748
93
878
11
1,-298-

650
. 86
717
13
1,389-

" 2-

G. 20

~

\

.

Outstanding Business Credit He.ld by'Finance Companies
(In millions of dollars)

Type ef^oredit

Business credit
,
Retail automotive (commercial j
vehicles)j
Wholesale automotive
j
Retail paper .on business, in- ;
dustrial and farm equipment
|
Loans^m commercial accounts
;
receivable
;
Factored commercial accounts
j
receivable
|
All other business credit
!'

Increase or decrease (-) during:
November
November
Year ended
;
1972
' 1971
' Nov. 30j_ 1972

Nov. 30,
1972
25,240

•

4,452
4,976

423_

-101 '

25
209

;

7,380

: '

1,702

'

-i

:

-13
106

1,318
5,412

97

• 2,591

53
-93

i

44

'

941

.36

1

188

j - -117

i
i

14
619

j '
!.
- j

-24

.

889
-60

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

Type of credit

Extended by finance cos.
Oct.
Nov.
1972
1972 '
1971

Business, credit '
8,196
• Retail automotive, (commercial
'
vehicles)
.396
Wholesale automotive
3,314
Retail paper on business, industrial, and farm equipment
j
683
.. Loans on commercial accounts
j
'. receivable
1,215
Factored commercial accounts receivable
1,397
. ATI- other bus iness' cred it
1,191

Repaid to finance cos.
Nov.
Oct.
Nov.
1972
1972
1971

9,131

6,936

7,773

8,447

7,037

| '44%
|
: 3,490

371
3,020

371
3,105

358
3,257

318
3,113

583

|

1,008

586

702

539

1,413

1,119 . 1,216

1,371

1,083

1,370
i 1,401

931
1,410
912 • 1,085

1,407
1,352

1,048
936

j

'

Extensions of business credit declined" $935 million from October to
-November.' This decline was reflected in all but^one of the major categories of
business credit - -extensions of factored commercial accounts receivable.
Finance company loans outstanding at commercial banks declined $45 million
in November while commercial paper issued by these finance companies increased
$85 million during the month. This seasonal rise in commercial paper was entirely
accounted for by a rise in dealer placed paper.




-3G. 20

Change in Extensions and Repayments
(In millions of dollars).
Change in extensions from:
Month ago
Year ago .
233
489

Type of credit
Consumer instalment credit
. Retail automotive (passenger
cars) .
Mobile homes
Other retail consumer- goods
• Home repair and modernization'
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 a m o u n t s
receivable
All other business credit

-62.
-6
-8
4
305

81
. 33
207
24
144

^935

Change, in re]payments from:
Month ago
Year ago
96
269

V

-95
' -1 '
: 9
-7
190
•

3
6
170
-9

99

-674

736

-53
-176

25:
294" .

13
-152

53
-8

-325

100

-116

1*260'

-198 .
27
-210

96

1

466
- 279

.

-155
3
-267

.

47
133

:

362
149

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

Type of vehicle

j

Change
Month
ago

November'
1972

Total financed at retail

348

New passenger
Used passenger
New and used commercial
* Less than 0.5 thousand.

142
115
91

'
v

Year
ago

-33

10

-19
-2
-12

14
1 -4

:
; : •

*

Selected Liabilities of Finance Companies
(In millions of dollars) .

Type of liability

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


Dealer
placed
'-kin n.s million.


Nov. 30,
1972

4,447
17,823
15,819
2,004

November
1972

-45
85

se or decrease
_ 1 ) during;
November
Dctober
1971
1972

376
517
473
44

91
-651
-499
-152