Full text of G.20 Finance Companies : March 6, 1972

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C\V-

. • Of COVr/ .

R E S E R V E

F E D E R A L

statistical

r

e lt a s e
e

• ''.fSTlS'v'

March

^3.

zation

reducing

the y e a r

ending

lower

registered

credit

extended

extensions

for

larger

consumer

finance

,

goods

companies declined

Home repair and

to $ 3 1 . 9 b i l l i o n .

$1 million but were

Other

J a n u a r y 31,

Total
the a m o u n t

rose

categories.

o u t s t a n d i n g at

total holdings

the

loans outstanding

three major

1972

J A N U A R Y 1972

Consumer. - M r s t a l m e n t c r e d i t
$192 million

6,

"" \ F I N A N C E C O M P A N I E S

moderni-

o f f s e t b y d e c l i n e s in the r e m a i n i n g
o
shi w e d the o n l y d e c l i n e o v e r

outstanding

1972.

extended

to c o n s u m e r s

in D e c e m b e r .

All

the c u r r e n t

extensions

major

month.

in J a n u a r y was

categories

Compared with

$1,123 million

less

than

of consumer credit registered
Januar y 1971, a l l c a t e g o r i e s

this y e a r .

$ 1 2 0 m i l l i o n b r i n g i n g the t o t a l
(comme rcial v e h i c l e s ) fell
in the r e m a i n i n g c a t e $25 million but w e r e offset by increases, totaling $145 m i l l i
m i l l i o n b e l o w that
gories.
Total business credit extended during January was $4
extensions.
e x t e n d e d in D e c e m b e r . .All. t h r e e m a j o r c a t e g o r i e s s h o w e d l o w e
Total

to o v e r

$20.8 billion.

The
due

business

to d e c l i n e s

largest

credit

outstanding

Retail automotive

number of motor vehicles
in a l l

drop—24,000

of

the

types

increased

outstandings

financed

of vehicles

Outstanding

Credit

of

(passenger

consumer

Business
Retail

cars)

-192

-332

10,197

- 82

-187

443

- 20

- 43

-104

. 108

some

subsidiaries.

1
- 91

J a n . 31,
1,157

1

15

-101

803

-

Not

20,830

1/

available

present

3,098

25

5,074
12,658

credit
credit

extended




due

revisions

(commercial

Wholesale automotive

I/Excludes

ending

1971

to b u s i n e s s ,

such as

that

extended

in

reporting

by

at
to;

70
75

vehicles)
Other business

Year

Jan.

15,142

automotive

the

Incres se or d e c r e a s e d u r i n g :
1972

modernization

loans

credit

showed

Jan.

goods

repair and

29,000 units

cars

31.948

credit

automotive

Home

fell

6,501

instalment

Retail
Other

ompanies

N< ' p a s s e n g e r

of d o l l a r s )

January 31,
.
1972

credit

Consumer

Personal

finance

Held by Finance Companies

(In m i l l i o n s

Type

by

financed.

units.

factoring

1972

.

.

..
.

G.20

:

"

,.

-2-

,

:

Credit Extended by Finance Companies
(In millions of dollars)
Type of credit

Consumer "instalment credit
Retail automotive (passenger cars)
New •
Used

•

Jan.

Change from:

31,

1972

2,247

-1,123

Business credit . !
_/
Retail automotive (commercial vehicles)^

'

286

620

-107

123

441

-106

N.A.
N.A.

179

Other consumer goods
Home repair and modernization
""-"^Personal loans

Year ago

Month ago

-

496

-174

1

112

2

2

1,127.

-840

49

5,328

-448

4

156

-

-

22

Wholesale automotive paper

2,557

- 39

Other business credit

2,615

Not available
at present
due to
revisions
in reporting

-387

1/Excl'udes some credit 'extended to business,• such as that extended by factoring
. subsidiaries .
.
N.A. Not available.
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




January 1972

251.
120
93
38