Full text of G.20 Finance Companies : May 3, 1972

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FEDE R A L

ESERVE

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May 3, 1972
\

^FINANCE COMPANIES

'

M A R C H 1972
Holdings of consumer instalment paper by finance companies rose for the
second consecutive month bringing the total holdings toXover $32.2 billion. The
$242 million increase reflected growth in a, 11 of the major types of consumer credit.
Since March 1971, total holdings have risen nearly $1.9 bill ion as a result of increases in all the major credit categories.
Total credit extended to consumers in March was $ >36 million more than the
amount extended in February and was the largest amount since December 1971. A l l of the
major areas of consumer credit registered increased extensions for the month with
retail automotive extensions reaching their highest level slice June 1971 and extensions
of the remaining categories reaching their highest level for the year to date.
Total business credit outstanding and total bus in 2ss credit extensions rose
for the month--$361 million and $875 million, respectively, These increases resulted
from growth in all the major areas of business credit.
The number of motor vehicles financed by finance companies rose 78,000
units with increases shown -in all types of vehicles financed
Outstanding Credit Held b y Finance Companies
(In millions of dollars)

March 31,
1972

Type of credit

Consumer instalment credit
Retail automotive

(passenger cars)

Other consumer goods
Home repair and modernization
Personal loans
Business credit l/:
(commercial
vehicles)
Wholesale automotive
Other business credit

.

Incr base or decrease during:
Mar.
Mar.
Year ending
1972
1971
Mar. 31, 1972

32,221

242

-185

1,895

10,340

133

2

666

6,554
109
15,218

46
2
61

-130
- 57

191
16
1,022

21,648

361

3,141
5,786
12,721

40
296
25

Retail automotive

*•

Not available at
present due to
revisions in
reporting

^ / E x c l u d e s some credit extended to business, such as that ext ended by factoring
subsidiaries.
^
* Less than 0.5 million dollars.




Credit Extended by Finance Companies
(In millions of dollars)
Mar. 31,
1972

Type of credit

2,890

Consumer instalment credit

Change from:
Month ago
536

Year ago
204

Retail automotive (passenger cars)

836

158

28

. New
Used

609
227

121
37

N.A.
N.A.

585
5
1,464

89
2
287

152
1
23

6,455

875

Not available
at present

258

61

Wholesale automotive paper

3,228

374

Other business credit

2,969

440

.

Other consumer goods
Home, repair^-aud modernization
Personal loans
' Business - credit -_1/
Retail automotive (commercial vehicles)

revisions
in reporting

I/Excludes 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 us-ed commercial




March 1972

350
166
117
67