Full text of G.20 Finance Companies : November 1973

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F E D

ESERVE

BR A L
s t a t i s ti c a I

f^L R£^.

re l e a s e
November 1973

.41FINANCE COMPANIES r:September 1973
Consumer installment credit outstanding increased. $359 million during
September. All the major credit categories contributed to this greater than
seasonal growth. Over the third quarter of 1973, outstandinigs increased $1.6
billion, with the largest increases in retail passenger cars arid personal loans.
million les? than
Consumer credit extensions in September were
in the previous month, with declines recorded in all categoz ies except home,
improvement loans. The bulk of the decline appeared in pers onal loans, as it
did in August. *
September repayments of"consumer installment credi t also were smaller
than in August. Again, personal loans were responsible for the greatest part
of the decline. .
Business credit outstandings increased $728 million in September,
bringing the total to $27.5 billion. Wholesale automotive paper made the most
significant contribution to this rise.
Outstanding Consumer Credit Held by Finance Companies
(In millions of dollars)

Type of credit

Sept. 30,
1973 .
35.993

Consumer instalment credit
Retail automotive' (passenger
11,721
cars)
3,235
Mobile homes
4,265.
Other retail consumer goods
809
Home improvement loans —'
15,963
Personal loans
1
1/ Formerly Home repair and modernization

Increase <> decrease (-) during
jr
Year ended
September
September
Sent. 30. 1973
1972 .
1973
5,343

1,886"

13
47
49
25
52

138
48
71
38
64

415
898
426
1,718

tee Companies:
Consumer Credit Extended and Repaid at Finati
(In millions of dollars)

Type of credit

Extended by finance co£
Sept
Aug.
Sept.
1972
1973
1973
2,971
3,189. b m

Consumer instalment credit
Retail automotive (passenger
696
cars)
144
Mobile homes
951
Other retail consumer goods
85
Home improvement loans
1,313
Personal loans
iy Formerly Home repair and modernization




887
147
1,079.

81 ,

1,683

648
' 14C
843
39
1,301

Repaid, to finance cos.
Sept.
Aug.
Sept.
1972
1973
1973
2,785
2.830
558
96

880
47
1,249

669
92
43
1,471

635
93
794
14
1,249

G.20

-2-

>

Outstanding Business Credit Held by Finance Companies
(In millions of dollars)

Sept. 30,
1973

• Type of-credit

Business, credit
*
. Retail automotive (commercial
vehicles
Wholesale automotive
Retail paper oh business, industrial and farm equipment
Loans on commercial accounts
receivable
Factored commercial accounts
receivable
All other business credit

Increase or decrease ( - ) during:
September
September
Year ended
1973
1972
Sept. 30* 1973

223.

1.129

3.327

4,247
5,535

-156
907

-57
1,005

-89
1,001

7,830

-22

93

853

27.460
:

1,965

43

1,636
6,247

42.
-86

13

304

-84
159

268
990

Business Credit Extended and Repaid at Finance Companies
(In millions of dollars)

Type of credit

Business credit
Retail automotive (commercial
vehicles)
Wholesale automotive
Retail paper on business, industrial and farm equipment
Loans* on commercial accounts
receivable •
Factored commercial accounts
receivable
All other business credit

Extended b y finance cos .
Sept.
Sept.
Aug.
1973
1973
1972

Repa id to finance cos.
Sept.
Aug.
Sept.
1973
1973
1972

8,625

7.208

7.827

7.897

8,373

251

339

309

407

402

. 6,698
366

3,289

1,351

3,124

2,382

3,076

2,119
721

916

991

814

938

965

1,623

1,718

972

1,580

1,687

959

1,241
1.305

1,556
1.253

1,271
1.337

1,199
1,3?],

1,466
777

1,355
1.178

Bank debt of finance companies decreased $185 million during the month.
Total commercial paper dropped $829 million reflecting a slightly greater than
seasonal decline of $879 million in directly placed paper.




.

G- 20
Change in Extensions and Repayment
• (In millions of dollars)

Type of credit

.

Consumer instalment credit
Retail automotive (passenger
cars)
Mobile homes
Other retail consumer goods
Home improvement loans^/
Personal loans

Change in repayments from:
Month ago
Year ago

Change in extensions from:
Year ago
Month ago
218
-688
-191
-3
-128
4
-370 ,

Business credit
LA11.
Retail automotive (commercial
vehicles)
-88
~
1,938
Wholesale automotive
Retail paper on business, industrial and farm equipment
-75
Loans on commercial accounts
-95
receivable
Factored commercial accounts
-315
receivable
52
All other business credit
1/ Formerly Home repair and modernization

48.
4
108
4612

45

\

-111
4 .
.
.
-108
4 -222

-77
3
86
33

798

-476

1x199

-58
165

5
-694

41
263

102

-27

217

651

-107

-30
-32

-267
'
614
*less than D.5 million"'

621
-156
213

Number of Motor Vehicles Financed at Retail Dy Finance, Companies
(In thousands)
Change from;
Month
Year
ago
ago

Sept. 30,
1973

Type of vehicle

277

New passenger
Used passenger
New and used commercial

-82

ill

119
101
57

Total financed at retail

-38
-25
-19

. -1
-9
-5

Selected Liabilities of Finance Comp
(In millions of dollars)
ase or decrease
during;
September
August
1972
1973

(-)
Type of liability

Bank loans (excl. commercial
paper)
Commercial paper
Directly placed
Dealer placed




Sept. 30,
1973

September
1973

6,166

-185

-683

-335

18,985
17,891
1.094

-829
-879
...50

" ' 635
1,139
-S04

-473

,