Full text of G.20 Finance Companies : June 5, 1972
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F E D E R A L R s t a t i s t i c a l ESERVE r e l e a s e /U-.20 June 5, 1972 FINANCE COMPANIES APRIL 1972 Consumer instalment credit outstanding at finane companies rose for the third consecutive month bringing the total holdings to over $ 32.5 billion. All of the major categories contributed to the $309 million increase with passenger cars and personal loans outstanding showing large increases of $134 mi llion and $152 million respectively. Credit extended to consumers by finance companie in April declined $97 million''from the amount extended in the previous month. This was the result of reduced extensions in three of the major categories of credit Repair and modernization loan extensions^, on the other hand, showed little change fron the previous month's amount. Total business credit outstanding continued to ise as a result of increased outstandings in each of the major categories. The tc tal business credit extended for April was $520 million below last month's level, Extensions were lower in all of the major categories with the largest decline, $271 mi llion, in wholesale automotive paper. The number of motor vehicles financed by finance companies fell 26,000 units with declines shown in all types of vehicles financed. . Outstanding Credit Held by Finance Cc mpanies (In millions of dollars) Type of credit Consumer instalment credit Retail automotive (passenger cars) Other consumer goodse Home repair and modernization Personal loans Business credit 1/ Retail automotive (commercial vehicles) Wholesale automotive Other business credit April -30, 1972 Increase or decrease during Apr. Year ending Apr A p r . 30, 1972 19721 1971 32,530 30S 10,474 6,574 112 15,370 2C 15 21,857 209 3,182 5,890 12,785 41 10/ 6L 43 134 693 83 5 14 294 14 1,160 Not available at present due to^ revisions, in reporting , . ^/Excludes some credit extended to business, such as that ext ended by factoring subsidiaries. Credit Extended by Finance Companies (In millions of dollars) Apr. 30, 1972 Type of credit Year ago 2,793 Other consumer "goods Home repair and modernization Personal loans Business credit 1/ 12 2 - 12 N.A. N.A. 570 7 1,394 New Used 121 - 14 6C(7 215 Retail—automotive (passenger cars) . -_97 822 Consumer instalment credit - . Change from: Month ago " 15 2 - 70 - 7 5,935 -520 214 Retail automotive (commercial vehicles) - 44 Wholesale automotive paper 2,957 Other business credit 2,764 . -271 116 Not available. at present due to revisions in reporting -205 J./Excludes some credit extended to business, such as that extended by factoring subs id iaries . N.A. Not available. - Less than 0.5 million dollars. Number of Motor Vehicles Financed by Finance Companies (In thousands) April 1972 Type.of vehicle Total financed at retail New passenger Used passenger New and .used commercial 324 „ j , 163 111 50