Full text of G.20 Finance Companies : May 5, 1971
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F E D E R A S L s t a t i s t i c a l E R V E r » l e a s e MR. W A L L A C E - 6.20 May 5, 1971 FINANCE COMPANIES M A R C H 1971 C / ^ Finance company holdings of consumer instalment 6aper declined for the third consecutive month reducing the total holdings to !?j0.J billion. Passenger car paper outstanding increased $2 million but was offset by declines totaling $187 million in the remaining three major categories. Compared to March 1070, personal loans outstanding showed the only increase, $230 million. Total credit extended to consumers in March was !>565 million more than the 11 major categories of amount' extended in February. This increase was reflected in consumer credit. Extensions in nonautomotive consumer goods and personal loans reached their highest levels for the yearr-$433 million and $1,441 m i l lion, respectively, while extensions in passenger cars and repair and modernization rea, :hed their highest levels since July 1970 and August 1970, respectively. Business credit outstanding at finance companies rose $442 million in March bringing the total to $20.4 billion. Commercial vehicles -and other business credit outstandings declined a total of $137 million but were offset by a $579 million increase in wholesale' automotive outstandings. The amount of business cr adit extensions increased Increases occurred in $786 million over last month, bringing the total to $5.4 bill Lon. all major areas of business credit extensions. The number of motor vehicles financed b y finance companies increased 68,000 units from February to March bringing the total to 320,000 units. New passenger cars ars and new and used comshowed the largest gain, 37,000 units, while used passenger mercial vehicles showed increases of 26,000 and 5,000 units, respectively.. Outstanding Credit Held by Finance Companies (In millions of dollars) March 31, ' , 1971 Type of credit -30,326 Consumer instalment credit Retail'automotive (passenger cars) Other consumer goods Home repair and modernization Personal loans Business credit 1/ Retail automotive (commercial Vehicles) Wholesale automotive Other business credit 1/Excludes some credit extended to subsidiaries. 2/Less than 0.5 million http://fraser.stlouisfed.org/ dollars . Federal Reserve Bank of St. Louis Incr ease or decrease during: Year ending Mar. Mar. Mar. 31, 1971 1970 1971 -185 -105 -1,107 9,674 2 .- 32 • -1,202 6,363 93 14,196 -130 2/ - 57 20,379 442 2,977 5,286 12,116. - 15 579 -122 - 34 1 - 38 - 126 9 230 Not available at present due to revisions in reporting business, such as that ext nded by factoring G.20 Credit Extended by Finance Companies (In millions of dollars) % c h Type of credit Consumer instalment credit Chang, from: e Month ago Year ago New Used Other-consumer goods Home repair and modernization Personal loans " Business credit X! Retail automotive (commercial vehicles) 2,686 ' 565 808 187 121 • 580 228 Retail automotive (passenger cars) 137 50 3/ 3/ . 433 4 1,441 61 ' 1 316 5,429 786 163 3,306 463 Other business credit 1,960 295 - 17 2 189 Not available at present due to revisions . in reporting 28 Wholesale- automotive paper • 295 - V E x c l u d e s some credit extended to business, such as that extended by factoring subsidiaries _2/Less than 0 .5 million dollars . 3/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 March 1971 320 159 119 42
