Full text of G.20 Finance Companies : June 3, 1971

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June 3, 1971

• 1 FINANCE COMPANIES
' - "

APRIL 1971

Consumer instalment credit outstanding at finar ce companies rose slightly
in April, after large declines during the first three montfi of 1971. The $43 million
increase in total outstandings was a result of increases in three of the major categories of credit. In both passenger car and personal loan paper outstanding these
increases reflect declines in repayments from a month ago rather than expansion in
extensions. The only major category to show a decline in cutstandings was other consumer goods which dropped $83 million during April.
Total credit extended to consumers in April wa $14 million less than the
amount extended in March. This was the first reduction in total extensions since
January. Three of the major areas of consumer credit showe d small increases in extensions for the month but these gains were offset by a $4C million decline in the
amount of personal loans extended. The total credit extern4ed, as compared with
April 1970, showed an increase of $91 million.
Business credit outstanding at finance companies increased $103 million in
April bringing the total to nearly $20.5 billion. A $6 mi ion decline in commercial
vehicles outstanding was offset by increases in all of the other major categories. The
• amount of business credit extensions dropped $475 million ifrom last month as a result
of a $555 million decline in wholesale automotive extensior
The number of motor vehicles financed by finane e companies increased
1,000 units from March to April bringing the total to 321 00 units. New and used
passenger cars declined .1,000 units each while new and usee commercial vehicles increased 3,000 units .
Outstanding Credit Held by Finance Companies
(In million of dollars)

April 30,
1971 .

Type of credit
Consumer instalment credit
Retail automotive (passenger cars)

Retail automotive (commercial
vehicles)

UExcludes some credit extended

subsidiaries.


1,572

9,781

73

1,168

6,280
98
14,210

- 11
- 1
43

198
- 3
201

20,482

Business credit

Wholesale automotive
Other business credit

104

30,369

Other consumer goods
Home repair and modernization
Personal loans'

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

2,97.1
5,312
12,199

Not available at
present due to
revisions in
reporting

to business, such as that e: tended by factoring

Credit Extended by Finance Companies
(In millions of dollars)

2,672

Consumer instalment credit
Retail automotive (passenger cars)
New
Used

810
'

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

Changie from:
Year ago
Month ago

April
1971

Type of credit

583
227

-_14

91

2

_7

'

.

-

454
7
1,401

21
3
- 40

4,954

-475

178

,

2/

3
1

2/
7
4
73
Not available
at present

15

2,-751

-555

' 2,025

65

revisions
in reporting

_1/Ex_cludes some credit extended to business, such as that extended by factoring
subsidiaries: /
_2/Not available due to revisions in reporting.

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




April 1971

321
158
118
45