Full text of G.20 Finance Companies : July 5, 1972

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G.20

July 5, 1972
FINANCE COMPANIES
MAY 1972

Holdings of consumer instalment paper by finance companies rose $427 million
during May, reaching a total of over $32.9 billion at month end. This was the third
consecutive month in which all of the major categories of cc•nsumer credit showed growth
in outstandings.
Credit extended to consumers in. May increased $216 million bringing the
e major categories except
total extensions to over $3 billion. Extensions in all of
repair and modernization loans were higher than in April.
i^anies and total extensions,
Total business credit outstanding at finance com]
of business credit rose from April to May. Outstandings of other business credit fell
$26 million but this drop was offset by an increase of $174 million in the remaining
two categories of business credit;. Extensions of business credit reached a total ofover $6 billion as a result of larger extensions in : all of the major categories.
The number of motor vehicles financed by finance companies increased 25,000
units during May. New passenger vehicles, increased 19,000 ynits while used passenger
vehicles and the combined new and used commercial vehicles ncreased 2,000 and 4,000
units, respectively.
Outstanding Credit Held by• Finance Cd>i
(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/
(commercial
vehicles)
Wholesale automotive
Other business credit

May 31,
1972

Increase or decrease during:
May
1971

32,957

42

10,642

168
11

6,686
113
15,516

146

22,005

, 148

Retail automotive

3,232
61,014
12,759

- 5b

72

Year ending
Mav 31 . 1972
2,516

29

832

-44
2
85

450
13
1,221

Not available at
present due to
revisions in
reporting

' Ilk
-26

1/Excludes some credit extended to business, such as that extended by factoring
subsidiaries.




, :

' ,

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G.20

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.

-2-

..

Credit Extended by. Finance Companies
(In millions ol dollars)

.

Type of.credit

!

nay ji,

I

1972

Consumer- instalment credit
Retail automotive
..

3^009

(passenger cars)

New
Used
Other consumer goods '
Home repair and modernization
Personal loans

Change from:
Month ago
216

;

896

|
i

676
220

.6-9
5

597
5
1,511

27
- 2
117

|-

V

6.477

542

1

235

21

Wholesale automotive paper

1

3,362

405

Other business, credit

!

2,880

116

Business credit _!/.
Retail automotive

(commercial vehicles)

_1/Excludes' some credit extended
subsidiaries.
N.A. Not available . 1

354
170

i
i

i

Year ago

153
- 2
33
Not available
at present
due to
revisions
in reporting

to busines, such as that extended by factoring

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

May 1972

Type of vehicle

Total' 'financed at retail
New passenger
Used passenger
New and used commercial
• •

••
'

,

•

'

-




N.A.
N .A

!

.
.

- j

349

I
|
|

182
113
54

I
i

.